“The POS Security Market is growing rapidly, driven by increasing cyber threats, the rise of e-commerce, and the need for robust security solutions.”
AUSTIN, TX, UNITED STATES, January 27, 2025 /
EINPresswire.com/ -- The
POS Security Market was valued at USD 4.55 Billion in 2023 and is projected to reach USD 9.99 Billion by 2032, growing at a compound annual growth rate (CAGR) of 9.16% from 2024 to 2032.
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Keyplayers:
Verifone – Verifone Secure
Ingenico – Ingenico Tetra
Diebold Nixdorf – Vynamic Security
First Data – TransArmor
Tyco Integrated Security – Video Surveillance Solutions
PAX Technology – PAX A920
Epson – Epson TM-m30, OmniLink POS Solutions
Gemalto (Thales Group) – Smart Card Solutions
NCR Corporation – NCR Secure Pay
POSLine – POSLine Security Suite
Zebra Technologies – Zebra MP7000, Barcode Scanners with Image Capture, RFID Printers and Encoders
Verifone – Verifone Carbon
Aptos – Aptos Point of Sale
Oracle – Oracle Retail Xstore
Sierra Wireless – AirLink RV50
Check Point Software Technologies – SandBlast Agent
Fortinet– FortiGate Firewall
Symantec (Broadcom) – Symantec Endpoint Protection
Trustwave – Trustwave POS Security Solution
McAfee – McAfee Advanced Threat Defense
Robust Growth in the POS Security Market Amid Rising Cyber Threats and E-Commerce Expansion
The POS Security Market is witnessing substantial expansion owing to rising worries over data breaches and cyber threats within the retail and hospitality industries. As digital payments and mobile POS systems gain popularity, the demand for secure transaction environments increases. As cybercrime increasingly targets POS systems, retailers are prioritizing the adoption of security strategies like encryption, tokenization, and multi-factor authentication to safeguard sensitive information. The rise of e-commerce and contactless payment options increases the need for sophisticated security measures since these technologies are vulnerable to emerging hacking techniques.
Cloud-based POS systems with built-in security features are becoming more popular, with prominent retailers such as Starbucks and Walmart at the forefront. In 2024, Starbucks upgraded its cloud POS by adding encryption and biometric authentication, establishing a standard for retail security. In the meantime, Walmart's system utilizing machine learning decreased fraud by 35%, highlighting the industry's move towards real-time, AI-powered security measures.
Services Segment Leads the Market, While Solutions Segment Poised for Rapid Growth
In 2023, the Services segment dominated the market, accounting for 65.23% of the share, as small and medium businesses increasingly depend on managed security services, technical assistance, and ongoing system maintenance. These companies frequently do not have internal IT capabilities to oversee security, making external services essential for meeting standards such as PCI DSS, which necessitate immediate updates and continuous threat surveillance. This trend is anticipated to persist, with an increasing number of companies choosing managed services that provide 24/7 security and incident management.
The Solutions segment is projected to grow at the highest CAGR of 10.31% during the forecast period, propelled by the automation of sophisticated security technologies like AI-driven threat detection, tokenization, and encryption. As cyber threats increase, companies are rapidly implementing these solutions to protect transactions and customer information. The growth of mobile and cloud-based POS systems boosts the need for integrated security, as AI-powered solutions and real-time analytics enable businesses to proactively address new threats.
Large Enterprises Lead the POS Security Market, While SMEs Show Rapid Growth Potential
The Large Enterprises segment dominated the POS Security Market, holding a 67.23% revenue share, driven by their significant transaction volumes, increased susceptibility to cyber threats, and the necessity for stringent adherence to regulations. These organizations deploy sophisticated security measures, such as multi-layer encryption and real-time monitoring, to safeguard sensitive customer information and financial transactions. Large enterprises allocate dedicated IT resources and substantial budgets to implement strong security measures that reduce risks and adhere to compliance standards such as PCI DSS.
The SMEs segment is expected to grow at the fastest CAGR of 9.88% during the forecast period. As digital transformation accelerates, more SMEs are adopting mobile and cloud-based POS systems, requiring robust security to protect against evolving cyber threats. Lacking dedicated IT teams, SMEs rely on outsourced security services and simplified solutions that are easy to implement. This trend points to continued growth, with managed services and automated security solutions tailored to meet the needs of SMEs.
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North America Leads POS Security Market, While APAC Shows Rapid Growth Potential
North America dominated the POS Security Market, accounting for 37.12% of the revenue share, thanks to its advanced infrastructure, strict regulatory requirements such as PCI DSS, and widespread adoption of digital payment methods. The region’s large retail sector and high transaction volumes drive the demand for robust POS security solutions. Additionally, the rise in cyber threats targeting retail and hospitality businesses accelerates the need for advanced security measures. With leading vendors in the region offering cutting-edge technologies like AI-driven fraud detection and end-to-end encryption.
Asia-Pacific is projected to register the fastest CAGR of 9.52% during the forecast period. The region is experiencing rapid digital transformation, particularly in countries like China and India, with a sharp rise in e-commerce and mobile payments. This shift, combined with concerns over data breaches and rising cybercrime, is driving the demand for affordable and efficient POS security solutions. With increased government initiatives supporting cybersecurity and the expansion of retail and hospitality sectors, APAC’s POS security market is poised for significant growth.
Recent Developments in POS Security Market
January 2024: Fortinet, Inc. unveiled an enhanced security platform for POS systems, featuring automated threat detection and upgraded encryption protocols to counter advanced cyberattacks.
April 2024: Kaspersky Lab launched new cybersecurity tools for the retail sector, incorporating end-to-end encryption and AI-powered malware detection for POS terminals.
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