Europe and Middle East & Africa Fuel and Convenience Store Point of Sale (POS) Market, By Components (Hardware, Software, and Services), Type (Fixed POS, Mobile POS, and Others), Deployment Mode (Cloud Based and On-Premise), Enterprise Size (Small & Medium Size Enterprise and Large Size Enterprise), Operating System (Windows, LINUX, Android, MAC, and Others), Application (Inventory Management, Operation Management, Cash Management, Reporting & Analytics, Customer Relationship Management (CRM), Tank Monitoring, Pump Management, and Others), Purchase Model (Subscription Based, Custom Contract, and One Time Purchase), End User (Convenience Store and Fuel Station) - Industry Trends and Forecast to 2031.
Europe and Middle East and Africa Fuel and Convenience Store Point of Sale (POS) Market Analysis and Insights
The growing adoption of mobile payment solutions and integration with POS systems and the rising adoption cloud-based POS systems are driving market growth. The major restraints impacting the market growth are stringent government regulations in the region and rising concerns about cyber security.
Technological advancement in fuel and convenience store Point of Sale (POS) services and strategic partnership and collaboration for POS services are expected to act as opportunities for the market growth in the future. However, high capital cost for establishing POS services, dependency of POS services on Internet connectivity are challenges for the market growth.
Data Bridge Market Research analyzes that the Europe and Middle East & Africa fuel and convenience store Point of Sale (POS) market is expected to reach USD 2,191,367.10 thousand by 2031 from USD 971,048.60 thousand in 2023, growing with a CAGR of 10.9% in the forecast period of 2024 to 2031.
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016–2021)
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Quantitative Units
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Revenue in USD Thousand
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Segments Covered
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Components (Hardware, Software, and Services), Type (Fixed POS, Mobile POS, and Others), Deployment Mode (Cloud Based and On-Premise), Enterprise Size (Small & Medium Size Enterprise and Large Size Enterprise), Operating System (Windows, LINUX, Android, MAC, and Others), Application (Inventory Management, Operation Management, Cash Management, Reporting & Analytics, Customer Relationship Management (CRM), Tank Monitoring, Pump Management, and Others), Purchase Model (Subscription Based, Custom Contract, and One Time Purchase), End User (Convenience Store and Fuel Station)
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Countries Covered
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Germany, U.K., France, Spain, Italy, Russia, Poland, Turkey, Netherlands, Switzerland, Belgium, Sweden, Norway, Denmark, Finland, Slovenia, Rest of Europe, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Qatar, Kuwait, Bahrain, Oman, and Rest of Middle East & Africa
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Market Players Covered
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Global Payments Inc., NCR VOYIX Corporation, Gilbarco Veeder-Root Company., PDI Technologies, Inc., LS Retail ehf., Diebold Nixdorf, Incorporated., Toshiba Global Commerce Solutions, VeriFone, Inc., Clover Network, LLC, Loyverse, Block, Inc., and Oracle, among others
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Market Definition
The fuel and convenience store Point of Sale (POS) market encompasses a specialized sector within the retail industry that focuses on providing transactional solutions tailored to the unique needs of fuel stations and convenience stores. This market primarily involves the development, distribution, and maintenance of point-of-sale systems specifically designed for businesses operating in the fuel and convenience retail space. These POS systems are equipped to handle a range of functionalities, including fuel dispensing transactions, convenience store sales, inventory management, and often integrate payment processing capabilities. Key features of fuel and convenience store POS solutions include real-time tracking of fuel sales, efficient management of diverse product lines, and compliance with industry-specific regulations such as those related to fuel pricing and card transactions.
Europe and Middle East and Africa Fuel and Convenience Store Point of Sale (POS) Market Dynamics
This section deals with understanding the market drivers, advantages, restraints, and challenges. All of this is discussed in detail below:
Drivers
- Growing Adoption of Mobile Payment Solutions and Integration with POS Systems
Adoption of mobile payment solutions and their integration with POS systems is reshaping the retail landscape by offering consumers seamless and convenient payment options while streamlining operations for businesses. With the rise of smartphone usage and the increasing demand for contactless transactions, mobile payment solutions have become a preferred choice for many customers, driving fuel and convenience store operators to upgrade their POS systems to accommodate these technologies.
Mobile payments offer speed and convenience, allowing customers to complete transactions quickly and efficiently. This is particularly appealing in the fast-paced environment of fuel and convenience stores, where customers often prioritize convenience and efficiency. Retailers can cater to changing consumer preferences and stay ahead of the competition in the market.
- Rising Adoption of Cloud-Based POS Systems
Cloud-based POS solutions offer numerous advantages over traditional systems, such as scalability, flexibility, and cost-effectiveness. Fuel and convenience store owners in these regions are increasingly recognizing the benefits of cloud-based POS systems in streamlining operations, improving inventory management, and enhancing customer experiences.
In Europe and the Middle East and Africa, the fuel and convenience store industry is witnessing a rapid digital transformation, fueled by changing consumer preferences and technological advancements. Cloud-based POS systems align with this trend by providing real-time data analytics and remote management capabilities, empowering store owners to make informed decisions and adapt quickly to market changes, driving further demand for cloud-based POS solutions.
Opportunity
- Technological Advancement in Fuel and Convenience Store Point of Sale (POS) Services
Technological advancements in fuel and convenience store point-of-sale (POS) services present significant opportunities for the market growth. These advancements encompass a range of innovations, including cloud-based POS systems, integrated payment solutions, and enhanced data analytics capabilities. Cloud-based POS systems offer greater flexibility, scalability, and accessibility, allowing fuel and convenience store operators to streamline operations, improve efficiency, and adapt to changing consumer demands more effectively.
Integrated payment solutions represent another key advancement, enabling seamless and secure transactions across various payment methods, including contactless payments and mobile wallets. This enhances the overall customer experience while reducing transaction times and increasing throughput at the point of sale. Moreover, advanced data analytics capabilities empower fuel and convenience store operators to gain deeper insights into consumer behavior, preferences, and purchasing patterns. This enables targeted marketing strategies, personalized promotions, and inventory optimization, driving revenue growth and enhancing customer loyalty.
Restraints/Challenges
- Stringent Government Regulations in the Region
Stringent government regulations encompass various aspects such as taxation, health and safety standards, environmental compliance, and data protection laws, all of which directly impact the operations of fuel and convenience stores. For instance, compliance with strict environmental regulations may require costly upgrades to equipment and infrastructure to reduce emissions or ensure proper waste disposal. Similarly, stringent data protection laws such as GDPR in Europe impose strict requirements on how customer data is collected, stored, and processed, adding complexity and cost to POS systems' management.
Moreover, regulatory requirements often vary across countries within the EMEA region, creating a fragmented landscape for businesses operating across borders. This diversity necessitates tailor-made solutions for each market, further increasing the complexity and cost of compliance for POS providers and retailers. In addition, navigating these regulations demands significant administrative efforts and expertise, diverting resources away from innovation and growth initiatives within the market.
- High Capital Cost for Establishing POS Services
High capital costs for establishing POS services indeed present a significant challenge for the market growth. The initial investment required for setting up POS systems, including hardware, software, and infrastructure, can be prohibitive for many businesses, particularly Small and Medium-Sized Enterprises (SMEs). This challenge is exacerbated in regions such as EMEA where economic conditions may vary, access to financing can be limited, and operational costs are relatively high.
Moreover, the complexity of integrating POS systems with existing infrastructure poses another hurdle. Many fuel and convenience stores in these regions operate on legacy systems that may not easily accommodate modern POS technologies. Upgrading or replacing these systems requires additional investment and can disrupt business operations, deterring retailers from making the necessary changes.
Recent Developments
- In January 2024, Global Payments Inc. and Commerzbank announced a successful joint venture to provide digital payment solutions to small and medium-sized businesses in Germany, establishing Commerz Globalpay GmbH. The venture, launched in the first half of 2024, capitalized on Global Payments' leading payment technology and Commerzbank's strong market position. Global Payments held a 51% stake, and Commerzbank held 49%, offering innovative Omni channel payment solutions for efficient business operations. This strategic move significantly expanded Global Payments' services in Germany, tapping into the growing opportunities to digitize the payment experience for businesses
- In August 2023, Toshiba Global Commerce Solutions launched the TCx 900, its latest point-of-sale (POS) system. Featuring advanced technology with a powerful modular system in a durable, compact design, the TCx 900 enhances store productivity and reduces operational expenses. Equipped with a 13th Gen Intel Core processor, WiFi6 connectivity, and AI readiness, the system is a result of Toshiba's ongoing collaboration with Intel to meet retailers' flexible, scalable, high-performance, and secure requirements
- In July 2023, Oracle secured its position as a leader in the idc marketscape assessments for point-of-sale software in large apparel and softlines retail, as well as retail price optimization solutions. The recognition highlights Oracle's capability in providing cutting-edge solutions for the retail industry. This benefited the company by increasing customer loyalty towards the brand and result in increase in revenue
- In April 2023, Verifone, Inc. launched new offerings for petroleum and convenience stores. These include Verifone BackOffice, a cloud-based store management solution, Verifone Convenience for non-fuel convenience stores, Verifone FoodService for integrated food ordering, and the C18 Self-Checkout. These innovations enhance operational efficiency and customer experience, reinforcing Verifone's commitment to providing comprehensive solutions for convenience stores and fueling marketers worldwide. The introduction of Verifone Cloud Services further solidifies its position as a market-leading technology provider
- In December 2020, Diebold Nixdorf, Incorporated introduces the Vynamic FCx solutions, revolutionize convenience store operations. Vynamic FCx Self-Checkout enhances integration with POS device independence, allowing consumers to scan, pay, and order at a single station. The Payments Software unifies payment infrastructure, creating a connected network. Vynamic Operations streamlines forecourt and c-store operations, while Vynamic Engage powers personalized promotions and loyalty rewards. These innovations foster seamless, engaging, and efficient experiences, reinforcing Diebold Nixdorf's commitment to advancing retail technology
Europe and Middle East and Africa Fuel and Convenience Store Point of Sale (POS) Market Scope
The Europe and Middle East & Africa fuel and convenience store Point of Sale (POS) market is segmented into eight notable segments which are based on components, type, deployment mode, enterprise size, operating system, application, purchase model, and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Components
- Hardware
- Software
- Services
On the basis of component, the Europe and Middle East & Africa fuel and convenience store Point of Sale (POS) market is segmented into hardware, software, and services.
Type
- Fixed POS
- Mobile POS
- Others
On the basis of type, the Europe and Middle East & Africa fuel and convenience store Point of Sale (POS) market is segmented into fixed POS, mobile POS, and others.
Deployment Mode
- Cloud Based
- On-Premise
On the basis of deployment mode, the Europe and Middle East & Africa fuel and convenience store Point of Sale (POS) market is segmented into cloud based and on-premise.
Enterprise Size
- Small & Medium Size Enterprise
- Large Size Enterprise
On the basis of enterprise size, the Europe and Middle East & Africa fuel and convenience store Point of Sale (POS) market is segmented into small & medium size enterprise and large size enterprise.
Operating System
- Windows
- LINUX
- Android
- MAC
- Others
On the basis of operating system, the Europe and Middle East & Africa fuel and convenience store Point of Sale (POS) market is segmented into windows, LINUX, android, MAC, and others.
Application
- Inventory Management
- Operation Management
- Cash Management
- Reporting & Analytics
- Customer Relationship Management (CRM)
- Tank Monitoring
- Pump Management
- Others
On the basis of application, the Europe and Middle East & Africa fuel and convenience store Point of Sale (POS) market is segmented into inventory management, operation management, cash management, reporting & analytics, Customer Relationship Management (CRM), tank monitoring, pump management, and others.
Purchase Model
- Subscription Based
- Custom Contract
- One Time Purchase
On the basis of purchase model, the Europe and Middle East & Africa fuel and convenience store Point of Sale (POS) market is segmented into subscription based, custom contract, and one time purchase.
End User
- Convenience Store
- Fuel Station
On the basis of end user, the Europe and Middle East & Africa fuel and convenience store Point of Sale (POS) market is segmented into convenience store and fuel station.
Europe and Middle East and Africa fuel and convenience store Point of Sale (POS) Market Regional Analysis/Insights
The Europe and Middle East & Africa fuel and convenience store Point of Sale (POS) market is segmented into eight notable segments which are based on components, type, deployment mode, enterprise size, operating system, application, purchase model, and end user.
The countries covered in this market report are Germany, U.K., France, Spain, Italy, Russia, Poland, Turkey, Netherlands, Switzerland, Belgium, Sweden, Norway, Denmark, Finland, Slovenia, Rest of Europe, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Qatar, Kuwait, Bahrain, Oman, and Rest of Middle East & Africa.
Europe is expected to dominate the Europe and Middle East & Africa fuel and convenience store Point of Sale (POS) market due to rising adoption of cloud-based POS systems. Germany is expected to dominate the Europe fuel and convenience store Point of Sale (POS) market due to its robust economy, technological advancements, and a good retail sector. Saudi Arabia is expected to dominate the Middle East & Africa fuel and convenience store Point of Sale (POS) market due to its robust economic growth, increasing retail sector, and government initiatives promoting digital transformation.
The country section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts, and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, the presence and availability of regional brands and their challenges faced due to large or scarce competition from local and domestic brands, and the impact of sales channels are considered while providing forecast analysis of the regional data.
Competitive Landscape and Europe and Middle East and Africa Fuel and Convenience Store Point of Sale (POS) Market Share Analysis
The Europe and Middle East & Africa fuel and convenience store Point of Sale (POS) market competitive landscape provides details of competitors. Details included are company overview, company financials, revenue generated, market potential, investment in R&D, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product approvals, product width and breadth, application dominance, and product type lifeline curve. The above data points provided are only related to the company’s focus on the market.
Some of the major market players operating in the Europe and Middle East & Africa Fuel and Convenience Store Point of Sale (POS) market are Global Payments Inc., NCR VOYIX Corporation, Gilbarco Veeder-Root Company., PDI Technologies, Inc., LS Retail ehf., Diebold Nixdorf, Incorporated., Toshiba Global Commerce Solutions, VeriFone, Inc., Clover Network, LLC, Loyverse, Block, Inc., and Oracle, among others.
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