The growing popularity of mobile POS systems is driving the Australia POS Market during the forecast period.
According to TechSci Research report, Australia POS Market - By Region, Competition Forecast & Opportunities, 2028, the market for POS in Australia is expected to register robust growth during the forecast period of 2024-2028. Throughout the projected period, the point of sales (POS) market will grow due to an increase in the uptake of high-end cloud-based POS systems by businesses.
Additionally, affordable internet connectivity, technological advancements, and increasing penetration of smartphones. Cloud service providers like Google, AWS, OVH cloud, and Microsoft made investments in their domestic cloud areas in 2021. Retailers and other end-users across the nation are experiencing a surge in the number of debit and credit card transactions, which is driving the demand for POS terminals in the country. For instance, on April 12, 2023, Square introduced a slew of brand-new features to our entire product ecosystem to unlock growth and build resilience for businesses of all sizes.
The new integrated spring product release will add 100 new features to diversify revenue streams and automate operations. In addition, Myer announced the launch of a new point-of-sale system and planning to roll out to its 57 department stores Australia-wide on March 09, 2023. The launch will enable the ongoing improvement of the customer experience both, in store and online. Therefore, the Australia POS market is anticipated to be positively impacted by factors such as the low cost of the devices and their ease of deployment, as well as the growing trend toward a cashless economy.
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The Australia POS market can be segmented by terminal type, deployment, enterprise size, and end user. Based on terminal type, the market is divided into fixed POS and mobile POS. Based on deployment, the market is divided into the cloud and on-premises. Based on enterprise size, the market is segmented into small & medium enterprises (SMEs) and large enterprises. Based on end user, the market is divided into retail, travel and hospitality, government, BFSI, healthcare and pharmaceuticals, media and entertainment, transportation, logistics, and others. Based on region, the market is divided into New South Wales, Victoria, Queensland, Western Australia, South Australia, Tasmania, and Northern Territory.
Based on terminal type, the mobile POS has showcased lucrative market growth in 2022, due to the increased need for digitalization in sectors like government, telecommunications, energy, smart agriculture, and banking/fintech. Additionally, the popularity of e-commerce and online shopping has grown significantly which has led to the demand for mobile POS systems in the online business. Moreover, the development of mobility and flexibility in enterprises to accept payments from anywhere has become a crucial success factor that promotes and supports economic progress.
Based on Deployment, the cloud segment has showcased lucrative market growth in 2022, due to the growing dependence on the cloud by the enterprise in the country, unlike conventional on-premises POS systems, which require users to use devices connected to a particular fixed location or connect to a local network, cloud-based POS solutions can be used from anywhere. Based on Region, the Western region would dominate the market in the forecast period, as in the western region Perth city comes. AWS Local Zones uses an edge-computing architecture to locate computation, storage, databases, and other services close to major population centers at the cloud's edge. They are designed to enable clients to outsource most of their workloads to AWS Regions while using essential AWS services locally.
For instance, in February 2022, by establishing two new Local Zones in Brisbane and Perth, AWS intends to increase its footprint in Australia. The market's expansion has been largely attributed to the usage of various types of cloud services, which are rapidly increasing. Moreover, businesses are increasing their presence in the region, as the expansion of previously announced projects, the development of enterprises, the increased acceptance of cloud computing, and the rising option of other technologies are the main factors driving the growth of data centers in the western region. Due to these reasons, the western region will dominate in the Australia POS market.
Major companies operating in the Australia POS market are:
- Ingenico International (Pacific) Pty Limited
- Toshiba TEC Australia Pty. Ltd.
- VeriFone Australia Pty. Ltd.
- Cisco Systems Australia Pty Ltd
- NCR Australia Pty Ltd
- NEC Australia Pty Ltd
- Diebold Nixdorf Australia Pty Limited
- Samsung Electronics Australia Pty Ltd
- Panasonic Australia Pty Ltd
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“In the APAC region, Australia has one of the fastest expanding POS marketspaces. Technological advancements, the use of mobile POS systems in financial records and contactless payments, government initiatives, expanding connectivity, a burgeoning cloud presence, and rising mPoS investments are some of the key drivers, promoting this growth. Additionally, the growing need for businesses to improve their data security and compliance and many debit and credit card transactions are pushing the demand for POS terminals among retailers and other end-users across Australia.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
Australia POS Market By Terminal Type (Fixed POS, Mobile POS), By Deployment (Cloud, On-Premise), By Enterprise Size (Small & Medium Enterprises (SMEs), Large Enterprises), By End User (Retail, Travel and Hospitality, Government, BFSI, Healthcare and Pharmaceuticals, Media and Entertainment, Transportation, Logistics, and Others), By Region, Competition, Forecast & Opportunities, 2028 has evaluated the future growth potential of Australia POS market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Australia POS market.
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