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Point of Sale Software Developers in the US - Industry Market Research Report

Point of Sale Software Developers in the US - Industry Market Research Report

  • September 2021
  • 39 pages
  • ID: 5103560
  • Format: PDF
  • Ibisworld

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Cashless is king: A pandemic-fueled transition toward cashless payment options is expected to fuel industry growth

Abstract

Point of Sale Software Developers

Market share concentration in the Point of Sale Software Developers industry is relatively low despite the strong presence of Square Inc. Other notable companies are NCR Corporation, VeriFone Systems Inc. and Heartland Payment Systems Inc, all of which hold much smaller shares of the market. Over the five years to 2018 the operators have made various acquisitions to increase their market share and services offered to the consumers. This industry is highly competitive and open to small and medium operators to increase their presence.

Simple operating systems boost supplier reputation

Companies that offer POS systems have kept the operating system very simple for consumers to use. In addition, companies like Square Inc. have made their products easy for businesses to install, boosting adoption of their ready-to-use POS systems. Ease of use helps suppliers secure sales and drive up revenue, supporting higher market share.

Consolidation increases total revenue

Over the years, major companies have been acquiring smaller companies. They acquire companies that specialize in a particular service or that which can be an asset in the future in diversifying their business structure. Square Inc. acquired food delivery websites Caviar, Fastbite and OrderAhead in 2014, 2015 and 2017, respectively.

Services offered drive internal competition
Industry operators compete internally on product functionality and reliability, services and support capabilities, price and geography. Companies have established their local presence and are now competing to capture their market globally. With more services to offer at a better rate companies are trying to market their brands effectively.

This industry develops point-of-sale (POS) software, which manages and facilitates sales at the physical location goods are sold. POS software varies significantly depending on the type of business using it and can provide extended features such as sales analysis and history, appointment scheduling and inventory management.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

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