Bharat Book Bureau Provides the Trending Market Research Report on “Global Fuel and Convenience Store POS Market Research Report— Forecast till 2027” under the Services Market Research Report Category. The report offers a collection of superior Market research, Market analysis, competitive intelligence, and Market reports.
As per MRFR statistics, the fuel and convenience store PoS market has been developing at the fastest rate in the past few years and is anticipated to reach USD 1780.6 million and is evaluated to register a healthy CAGR of 25.8% during the review periods 2021–2027.
The Fuel and Convenience Store PoS Market is anticipated to witness significant market growth because of the rising need for POS for efficient management across fuel stations and convenience stores and the growing adoption of cloud POS and mPOS solutions. POS software or point-of-sale software is a solution which can analyse the inventories, sales reports, cash management, and other parameters, and offer a graphical and pictorial representation to facilitate business insights.
The fuel and convenience store POS market is expected to witness the notable market expansion owing to the largest market value of USD 366 million in 2020. The global market growth is fueled by the growing need for POS for effective management across fuel stations and convenience stores and increasing adoption of cloud POS and mPOS solutions. Additionally, the emergence of AI and machine learning in growing solutions for POS creates an opportunity for market growth. However, the data security issues in e-commerce transactions are expected to restrain the global market in future.
The global fuel and convenience store PoS market is classified into component, application, and end use.
The component segment is further divided into solutions and services. The solution segment is again subdivided into fixed/traditional/Legacy PoS, cloud pos, and mobile pos. The service type is sub segmented into managed services and professional services.
The application segment categorizes the market into cash management, inventory management, operations management, reporting & analytics, others. In terms of end use segment, the global fuel and convenience store PoS market is bifurcated into fuel station and convenience stores.
Geographically, the fuel and convenience store PoS market is spread across the North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
North America is likely to lead the fuel and convenience store PoS market during the review time followed by Asia Pacific.
North America is likely to command market share having market share of 44.3% in 2018. Asia-Pacific is expected to register a fastest growing market owing to the highest market share of 36.9% in 2020. The innovative headways, expanding interest for POS for proficient administration across corner shops and fuel stations, and expanding reception of cloud-based POS and portable POS are the elements which expected to drive the market in North America before very long.
The major market players operated in the global fuel and convenience store POS market are VeriFone, Inc. (US), Diebold Nixdorf, Incorporated (US), Fujitsu Ltd. (Japan), NCR Corporation (US), and LS Retail (Iceland).
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