SoftPoS Market Size by Research Nester Reveals the Market to Grow with a CAGR of ~20% During 2023-2036 and Attain ~USD 1 Billion by 2036
Research Nester’s recent market research analysis on “SoftPoS Market: Global Demand Analysis & Opportunity Outlook 2036” delivers a detailed competitors analysis and a detailed overview of the global SoftPoS market in terms of market segmentation by enterprise size, operating system and by region.
Rising Obsession on Smart Wearables in the Young Generation and Surge in the Number of Smartphones to Promote Global Market Share of SoftPoS Market
The global SoftPoS market is estimated to grow majorly on account of the increased number of smartphones. The SoftPoS can convert the latest generations of tablet or smartphones into a contactless payment acceptance device. The SoftPoS helps turn the Android device into POS and act as one powerful platform. Also, the platform helps convert sales and visitors into customers. Moreover, it has been estimated that almost two-thirds of adults globally are now making or receiving digital payments. Hence, on the back of rising online payments the global SoftPoS market during the forecasted period. Other than this, the surge in the penetration of the internet is leading to widespread acceptance of SoftPoS, fueling the growth of the global SoftPoS market during the forecasted period. It has been estimated that by the year 2025, the total number of people who use the Internet will reach almost 6.53 billion, boosting the growth of the global SoftPoS market during the projection period. Furthermore, the SoftPoS also known as tap to mobile or tap on the phone allows merchants to accept contactless payments with the usage of smartphones. In the year 2022, almost 60.1% of businesses said they are accepting digital payments. Owing to this, the global SoftPoS market is anticipated to garner significant growth during the forecasted period.
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Some of the major growth factors and challenges that are associated with the growth of the global SoftPoS market are:
Growth Drivers:
• Increase in Number of Smartphones to Enhance Product Adoption
• Rising Penetration of Internet Across the Globe
Challenges:
Restricted support on android based devices, lack of easy availability and lack of endurance are some of the major factors anticipated to hamper the global market size of global SoftPoS market.
By enterprise size, the global SoftPoS market is segmented into micro & small businesses and medium & large businesses. Out of these, the organic material segment is expected to grow the most during the forecasted period. The growth can be attributed to the increasing adoption of softbox solutions by small and micro businesses.
By region, Europe's SoftPoS market is to generate the highest revenue by the end of 2036. The growth of the market can be attributed to the rising penetration of the internet. The growth is also fueled by the ease of usage of the software and its widespread acceptance amongst the population.
This report also provides the existing competitive scenario of some of the key players of the global SoftPoS market which includes company profiling of Tidypay, Wizzit (Pty) Ltd, Bindo Labs Group Limited, Fairbit, Yazara, Asseco South Eastern Europe, CM.com, Sharp, Electronics, Fime SAS, NEC Corporation, NCR Corporation, Pax Japan and others.
Access our detailed report at:
https://www.researchnester.com/reports/softpos-market/5916
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