TechNavio announces this week the launch of the report ‘Global Point of Sale (POS) Software & Hardware Market 2009-2013.’
Online PR News – 23-July-2010 – – According to TechNavio, the Global POS Software market is forecast to reach $3,377 million in 2013 from $2,328.1 million in 2009; thus, growing at a CAGR of 9.7 percent over the period 2009-2013.
POS software is increasingly being adopted by the organizations dealing in wholesale businesses. This is because such organizations are required to get the right product in the right place and price when the customer demands it - all in a high volume, time pressured environment. In addition, they need to take advantage of the demand-driven trend to build better forecasts, improve warehouse efficiency, and remain a preferred route to market for suppliers and customers. Additionally, these organizations are increasingly adopting POS software for loss prevention, global data synchronization and customer loyalty management.
A point-of-sale (POS) hardware is a computerized replacement for a cash register. The POS system has the ability to record and track customer orders, process credit and debit cards, connect to other systems in a network, and manage inventory. POS systems are used by a salesperson with an accessible interface, to manage transactions during a selling process. Further, they allow the creation and printing of vouchers.
Owing to technological advancements, the POS Hardware market is witnessing a rapid expansion; with POS systems aggressively being adapted by various industries such as Retail, Hospitality, Finance, Transport, Government, etc. New technologies are being continuously incorporated into the various component of POS system (such as display, storage, hard disks, operation platform, etc). The market is also witnessing an increased preference for portable and wireless POS systems.
According to TechNavio, the Global POS Hardware market is forecast to reach $17,843.4 million in 2013 from $12,450.0 million in 2009; thus, growing at a CAGR of 9.4 percent over the period 2009-2013.
The report highlights the scope of the Global Point of Sale (POS) Software and Hardware market, along with forecasts, trends, drivers, and challenges.
For further information on this report please visit: http://www.technavio.com/content/global-point-sale-pos-software-hardware-market-2009-2013-bundled-report