The global POS security market size is expected to reach USD 7.74 billion by 2030 according to a new study by Polaris Market Research. The report “POS Security Market Share, Size, Trends, Industry Analysis Report, By Offering (Solutions, Services); By Organization Size (Small and Medium Sized, Large); By Vertical (Retail, Restaurants, Hospitality); By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The growing scale of data breaches involving POS system compromise and compliance with regulations are some factors driving the market growth. In addition, growing government emphasis on a cashless economy will also drive market growth.
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The market’s growth is attributed to the increasing adoption of cashless payment modes, the growing need to adhere to PCI DSS guidelines, and growing cyber-attacks on digital payments. Several organizations have concurred with data privacy and regulations to manage and protect POS systems which have stimulated the market’s growth.
Furtherly, increasing adoption of cloud-based application among SMEs and Large enterprises support market growth.
Various players are developing their tools and solutions for high security. For instance, Kaspersky developed a security network known as Kaspersky Anti-Virus, which helps the system prevent viruses & malware, stops hackers from taking PC remotely, and helps keep the machine running fast & smooth.
POS Security Market Report Highlights
- Services segment is attributed to the most significant market share as the need for services such as deployment & integration, support & maintenance expanded as more solutions were adopted.
- Large enterprises are expected to project for largest market revenue in 2021 due to their abundance of data. Large enterprises maintain a huge amount of data for their business. Large enterprises are prime targets for cybersecurity assaults.
- Retail segment is expected to account for the most significant market value over the forecast period. The government’s increasing emphasis on the cashless transaction has boosted the segment’s expansion.
- An increasing number of breaches in North America have resulted in the growth of the point-of-sale security market. For instance, in 2011, Global Payments experienced a significant breach that may have affected 1.5 million North American payment cards.
- The global market is highly competitive owing to the existence of large industry players which are Acunetix, Bluefin, BPAPOS, CardConnect, Check Point, Clover, Elavon, Fortinet, Helcim, Hideez, Kaspersky, Micro Focus, Morphisec, NCR, Oracle, PayPal, Sophos, SquareUp, TempusPayment, TeskaLabs, Thales, TokenEx, Tripwire, Upserve, Vend, Verifone.
Polaris Market Research has segmented the POS security market report based on offering, organization size, vertical, and region:
POS Security, Offering Outlook (Revenue – USD Billion, 2018 – 2030)
- Deployment and Integration
- Training and Education
- Support and Maintenance
POS Security, Organization Size Outlook (Revenue – USD Billion, 2018 – 2030)
- Small and Medium Enterprises
- Large Enterprises
POS Security, Vertical Outlook (Revenue – USD Billion, 2018 – 2030)
POS Security, Regional Outlook (Revenue – USD Billion, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa