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Fuel and Convenience Store PoS Market Size to Grow at a CAGR of 24.26% with USD 3.53 Billion by 2032

Dec 13, 2023 8:00 PM ET

Fuel and Convenience Store PoS Market Size to Grow at a CAGR of 24.26% with USD 3.53 Billion by 2032

Market Overview:

In 2022, the fuel and convenience store PoS market size was estimated to be worth USD 0.5 billion. The fuel and convenience store point-of-sale (PoS) market is expected to expand at a compound annual growth rate (CAGR) of 24.26% from USD 0.62 billion in 2023 to USD 3.53 billion by 2032. The primary factors driving the market’s expansion are the rising use of cloud PoS solutions and the rising need for PoS in retail and petrol stations.

The integration of artificial intelligence (AI) and data analytics is a noteworthy development in the point-of-sale (PoS) fuel and convenience store industry. Fuel and convenience store operators are using artificial intelligence (AI) algorithms and data analytics tools to extract insights from massive volumes of data produced by point-of-sale (PoS) systems.

Key Companies in the Fuel and Convenience Store PoS market include

  • Fujitsu Ltd. (Japan)
  • VeriFone Inc. (US)
  • Diebold Nixdorf Incorporated (US)
  • NCR Corporation (US)
  • LS Retail (Iceland)

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Market Insights:

These insights assist operators in anticipating client preferences, streamlining inventory control, and increasing operational effectiveness. In order to provide tailored recommendations and focused promotions, AI-powered point-of-sale (PoS) systems can examine market trends, customer behaviour, and sales patterns.

Fuel and convenience store operators are experiencing an increase in innovation and improved operational efficiency due to the growing demand for cloud-based point-of-sale (PoS) systems, the integration of artificial intelligence (AI) and data analytics, and the adoption of contactless payment solutions and mobile apps. Industry participants can take advantage of possibilities and improve consumer experiences by keeping up with these developments, which will propel revenue growth in the fuel and convenience store PoS market.

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Sectoral Insights

Solutions and services are included in the market segmentation of Fuel and Convenience Store PoS based on components. The market was dominated by the services sector.

Based on application, the Fuel and Convenience Store PoS market segmentation comprises cash management, inventory management, operations management, reporting & analytics, and other areas. The segment with the highest revenue generation was operations management.

gasoline stations and convenience stores are included in the gasoline and convenience store PoS market segmentation, which is based on end use. The market was controlled by the fuel stations segment.

Solutions and services are included in the market segmentation of Fuel and Convenience Store PoS based on components. The market was dominated by the services sector.

The report offers market information for North America, Europe, Asia-Pacific, and the rest of the world, broken down by region. Due to the highly established fuel retail industry in North America, which includes a large number of convenience stores and gas stations, this market will be dominated by the gasoline and convenience store PoS market area.

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Regional Analysis:

Key trends in the North American market include the integration of mobile payment systems, loyalty programmes, and enhanced analytics capabilities. North America is a prominent region in this market due to the presence of significant providers of PoS solutions and the rapid adoption of emerging technologies.

From 2023 to 2032, the Asia-Pacific Fuel and Convenience Store PoS Market is anticipated to expand at a substantial rate. Rising disposable incomes, shifting consumer preferences, and growing urbanisation are the causes. This region’s market is distinguished by a blend of conventional and contemporary retail forms, offering particular opportunities and challenges. The demand for sophisticated proof-of-stake (PoS) systems that facilitate digital payment methods is rising as a result of the notable increase in the acceptance of these payment methods in many nations. Furthermore, PoS solutions are increasingly being integrated with e-commerce platforms, loyalty programmes, and personalised marketing in Asia.

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