Persistence Market Research (PMR) has published a new report titled “Cinema Point of Sale (POS) Solutions Market: Global Industry Analysis (2012-2016) and Forecast (2017-2025).” The global market for cinema point of sale (POS) solutions is witnessing strong growth owing to the increasing adoption of advanced technologies for enhancing the cinema ticketing experience and further increasing the sale of other entities such as food service retail, season concert passes, and other.
Revenue from the global cinema point of sale (POS) solutions market is expected to reach a value over US$ 3600 Mn in 2025, thus, exhibiting a value CAGR of 13.7% between 2017 and 2025. This revenue growth can be attributed to the innovations of novel aspects and advanced technology integration in cinema point of sale (POS) solutions.
Growing Trend of Point-of-Sale to Benefit the Market in the Long Run
Mobile point of sale or mPOS refers to a device that can be connected to a tablet or a smartphone in order to enable the user to accept a mobile contactless or card payment. The factors driving the mPOS industry are evolution in the field of digital payment systems and versatility of mPOS applications owing to the flexibility offered by mPOS, which allows it to be utilized at any point of time. With EMV migration and the increase in contactless payments, mPOS is seen as an affordable way for companies to adopt a contactless POS infrastructure.
This further creates substantial opportunities for POS solution providers to focus more on mPOS solutions. The flourishing Internet of Things is a lucrative opportunity for the market players to capitalize on and also develop innovative offerings which integrate with advanced and modern cinema point of sale solutions using IoT. The market is also expected to acquire opportunities from the gaining focus of users on cloud-based POS solutions owing to their real-time analysis. The deployment of motion sensing digital signage is also anticipated to bode well for the market in the coming years.
Revenue Generation from Professional Services to Rise at an Exceeding Pace
Though the global cinema point of sales solution market is led by POS software solution on the basis of solution/services, professional services is expected to give a tough competition in terms of revenue generation. In 2017, POS software solution accounted for a share of 45.0% in the global cinema point of sales solution market and is expected to rise at a substantial rate in the course of the forecast period. The growing demand for POS software solution can be attributed to the rising number for cinema halls and multiplex chains.
This has further led to the rising need for centralized database, thus boosting the deployment of POS software solutions. Other services in this area include support services. On the basis of deployment, the global cinema of sales solutions market has been bifurcated into cloud based and on-premise. Region-wise, the global market for cinema point of sales solutions has been segmented into North America, Europe, Latin America, the Middle East and Africa, and Asia Pacific.
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Vendors to Focus on Europe and Asia Pacific for Lucrative Prospects
Point of sale solution vendors are now focusing on expanding their businesses across countries in Europe and Asia Pacific where growth of modern retail and rapid urbanization are offering investment opportunities for point of sale solutions vendors. The companies operating in the market are NCR, Vista, CenterEdge Software, Allure – A Christie Company, TicketNew Box Office, and OMNITERM, among many others.