The global POS Security market size is expected to grow from an estimated value of USD 4.0 billion in 2022 to USD 6.1 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 8.6 %



from 2022 to 2027. Some of the factors driving the market growth are the increasing POS attacks and regulatory compliance. However, issues with the traditional POS protection approach and issues with POS security deployment are expected to hamper the market growth.

New York, Sept. 21, 2022 (GLOBE NEWSWIRE) — announces the release of the report, POS Security Market by Offering, Organization Size, Vertical And Region – Global Forecast to 2027 – https://www.reportlinker. com/p06320080/?utm_source=GNW

Large companies hold the largest market size during the forecast period
According to the OECD, large companies employ more than 250 people. Large companies experience a high acceptance of POS security solutions.

These companies have the necessary finance and manpower to implement the POS security solutions and services in their systems. Large companies have vast amounts of data, making them attractive targets for cybersecurity attacks.

Credit and debit card data theft is one of the most common forms of cybersecurity threats and is increasingly perpetrated through attacks on POS systems. Products and solutions with technologies like P2PE, tokenization and the use of EMV cards are used by the companies to avoid the POS attacks.

Governments of several countries have invested in payment data regulations over the years. Due to the strict regulatory norms of payment data and other privacy laws, big companies around the world have been urged to implement POS security solutions and prevent huge financial losses from POS attacks.

Vertical restaurants are projected to grow at the highest CAGR over the forecast period
The restaurant industry includes independent and franchise restaurants (fast food, casual and fine dining), bakeries, bars and breweries, and coffee shops. According to a report by an investor, the restaurant business is one of the major industries most vulnerable to cyberattacks.

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Restaurants provide access to important private financial data of guests. Restaurant servers store large databases of guest details that can be targeted by cyber attackers for malicious purposes.

In cyber attacks, criminals inject malicious software into POS hardware to gain access to card and payment information. POS attacks are a serious problem for restaurant businesses that can lead to a lack of trust among customers and a crippled system that could also impact the sales of the establishments.

In 2019, the Catch group announced data breaches at several Catch restaurants stemming from malware in their POS systems. The attack exposed customers’ payment details. Several providers offer POS security solutions for the vertical hospitality industry. Upserve offers Upserve POS as a POS security solution, which is a cloud-based POS solution that works on a closed system to protect customer data. It offers encryption and tokenization to secure the data.

North America holds the largest market size during the forecast period
North America is expected to be the largest contributor to market size in the global POS security market. North America has the largest number of POS security market providers among all regions considered.

According to the Bank for International Settlements’ report “Payment Systems in the United States,” a variety of payment instruments and settlement mechanisms are available to meet payment obligations between and between financial institutions and their customers in the United States. However, the use of electronic payment mechanisms such as Automated Clearing House (ACH), ATM and POS networks have grown rapidly.

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The heavy usage of POS systems by industries like retail, restaurants and hospitality has led to an increasing acceptance of POS security solutions. The region is also witnessing an increase in POS system attacks.

The attacks on POS systems have led to increasing adoption of POS security systems in the region. Growing concerns about protecting sensitive payment data have led to increased government intervention over the years. Various security-related legal regulations regulate the protection of the POS systems in the North America region. The PCI DSS and other legal regulations help companies protect their customers’ sensitive data. The California Consumer Privacy Act (CCPA) gives consumers more control over the personal information companies collect about them, and the CCPA rules provide guidance on the process for implementing the law.

Area code breakdown:
The main sources on the vendor side included various industry experts including Chief Executive Officers (CEOs), Vice Presidents (VPs), Marketing Directors, Technology and Innovation Directors and related executives from various key companies and organizations operating in the POS security market.
• By company type: Tier 1: 40%, Tier 2: 35% and Tier 3: 25%
• By title: C-level executives: 40%, directors: 35% and others: 25%
• By region: North America: 30%, Europe: 20%, Asia Pacific: 45%, RoW: 5%

Major players in the global POS security market include Oracle (US), Micro Focus (UK), NCR (US), Fortinet (US), Verifone (US), PayPal (US), Check Point (US), CardConnect (US ). ), Morphisec (USA), Kaspersky (Switzerland), Sophos (UK), Thales (France), Upserve (USA), Tripwire (USA), Elavon (USA), TempusPayment (USA), Bluefin (USA), SquareUp (USA ). ), Acunetix (Malta), Vend (New Zealand), TokenEx (US), BPAPOS (US), TeskaLabs (UK), Clover (US), Helcim (Canada) and Hideez (US).
The study includes an in-depth competitive analysis of the key players in the POS security market, with their company profiles, recent developments, and key market strategies.

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research reporting
The report segments the POS security market and forecasts its size by offering (solutions, services), organization size (SMB, Enterprise), industry (retail, restaurants, hospitality and other industries), and by region (North America, Europe, Asia Pacific, Middle East and Africa and Latin America).
The study also includes an in-depth competitive analysis of the key players in the market along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key benefits of purchasing the report
The report will assist the leaders/new entrants in this market with information on the most accurate approximations to the sales figures for the entire POS Security market and sub-segments. This report will help the stakeholders to understand the competitive landscape and gain more insights to better position their businesses and plan appropriate go-to-market strategies.

The report also helps stakeholders to understand the pulse of the market, providing them with information on the major market drivers, restraints, challenges, and opportunities.
Read the full report:

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