Market Highlights
As per MRFR, theFuel and Convenience Store POS Market Forecasthas been growing rapidly from the past few years and is expected to reach USD 3.32 Billion by 2030 from USD 366 million in 2020 and is expected to grow at a CAGR of 24.26% during the forecast periods 20202030.
High Demand for Cloud-Based Payment Solutions
Every day, convenience stores at gas stations deal with a high volume of transactions, and managing such transactions is difficult. As a result, the need for point-of-sale terminals and software is rapidly rising. Convenience stores at gas stations that use conventional point-of-sale methods suffer greater maintenance expenses for modernizing technology while failing to provide omnichannel support. As a result of the rising market penetration of contactless cards/payments, fuel retailers choose cloud-based payment solutions that are compatible with EMV technologies. With the increasing number of fuel and convenience stores, customers prefer and use non-cash transactions, which, combined with the growing acceptance of in-store mobile payments, is increasing demand for cloud POS solutions in fuel stations' convenience stores.
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Segmentation:
The global fuel and convenience store POS industry has been segmented based on component, application and end-use.
Based on components, the global Fuel and Convenience Store POS Market Forecast has been divided into software and services. The services segment has been further sub-segmented into professional services and managed services. The software segment has further been sub-segmented into fixed/traditional/legacy POS, mobile POS, and cloud POS.
Based on application, the global Fuel and Convenience Store POS Market Forecast has been segmented into inventory management, cash management, operations management, reporting and analytics, and others.
Based on end-use, the global Fuel and Convenience Store POS Market Forecast has been segmented into fuel stations and convenience stores.
Regional Analysis
North America to Lead the Global Market
North America is one of the leading markets for fuel and convenience store POS. Fuel and convenience store POS systems are becoming more popular as a result of increased digitization, technological developments, and the expanding number of fuel and convenience stores. Fuel and convenience store POS software assists store managers in managing inventory and cash management, as well as running the fuel station and store operations smoothly. The region's increased technological penetration and the presence of significant global and local enterprises have accelerated the adoption of fuel and convenience store POS solutions. North America has been divided into three countries: the United States, Canada, and Mexico. The United States dominates the regional market, while Canada is likely to rise rapidly in the near future.
Key Players
The key players of the worldwide Fuel and Convenience Store POS Market Forecast include Fujitsu (Japan), LS Retail (Iceland), VeriFone (US), Diebold (US), NCR (US), PDI, Orpak Systems Ltd (Israel), DCR (US), The Pinnacle Corporation (US), Petrosoft LLC (US), and Bridge POS (US).
Industry News
In January 2020, LS Express, LS Retails online point of sale (POS) system for small and medium-sized retailers, was available for customers across Australia and New Zealand.
In January 2020, Dielbold Nixdorf introduced BEETLE A1150, an all-in-one POS system that brings together the latest technology and reliability with a space-saving design.
In March 2020, The Pinnacle Corporation began offering retailers its Affiniti Cloud Mobile Ordering solution to help the customers and employees practice social distancing.
In September 2019, Diebold Nixdorf unveiled VynamicTM FCx solutions to fuel and convenience retailers. Retailers can utilize the capabilities of Vynamic FCx to improve the consumer experience by providing more personalized, adaptable, and connected services.
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Fuel and Convenience Store POS Market Forecast Research Report: Information By Component (Solutions (Fixed/Traditional/Legacy PoS, Cloud Pos, Mobile Pos), Services (Managed Services, and Professional Services), By Application (Operations Management, Cash Management, Inventory Management, Reporting Analytics, Others), By End Use (Fuel Station and Convenience Stores) and Region (North America, Europe, Asia-Pacific, Middle East Africa, and South America])Forecast Till 2027
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