Cloud POS Market: Global Industry Analysis and Forecast (2022-2029) by Component, Service, Organization Size, Application Areas, and Region

Cloud POS Market size was valued at US$ 2.78 Bn. in 2021 and the total revenue is expected to grow at a CAGR of 24.5% from 2022 to 2029, reaching nearly US$ 16.10 Bn.
Cloud POS Market Overview:
Cloud POS Market is expected to reach US$ 16.10 Bn. by 2029. A cloud-based point of sale (cloud-based POS) is a sort of point-of-sale system that uses data from a remote cloud service to perform transactions. In general, POS refers to the location where purchases are made, such as at a cashier's kiosk or a restaurant's hostess desk (or side table). This report focuses on the different segments of the Cloud POS market (Component, Service, Organization Size, Application Areas, and Region). This report examines the major market players and regions in depth (North America, Asia Pacific, Europe, Middle East & Africa, and South America). It's a thorough examination of today's quick advances in a variety of sectors. Facts and figures, visualisations, and presentations are utilised to demonstrate the core data analysis from 2017 through 2020. The market drivers, restraints, opportunities, and challenges for Cloud POS are examined in this report. The MMR report's investment suggestions are based on a thorough examination of the current competitive environment in the Cloud POS market.



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Cloud POS Market Dynamics:
Business mobility and flexibility have increased.

Any device with an internet connection can access a cloud-based POS system. This gives you the ability to see labour usage percentages, inventory counts, and productivity reports in real time. The data can be instantly updated and accessible from any remote place at any time. This benefit of cloud POS improves corporate operations flexibility. Furthermore, cloud POS can be set up on a mobile device, allowing users to move around with the equipment. It also has the benefit of allowing you to add more mobile devices to your existing system for increased mobility. Customers can take advantage of the capability of a mobile POS (mPOS) system with this benefit. Cloud POS deployments' improved mobility advantage is expected to drive demand for cloud POS systems during the forecast period.

Cloud-based services are met with scepticism.

The frequency of cyber-attacks is increasing significantly in today's complex IT security environment. Many businesses are dubious of cloud-based services' overall security capabilities. IT professionals who are used to working with on-premises POS deployments are often concerned about losing ownership and control when switching to cloud-based POS. There is also a perception that cloud-based POS is not yet sophisticated enough to meet IT security requirements. Furthermore, while the adoption of cloud-based POS is increasing in places like as Asia Pacific and MEA, enterprises' understanding of possible dangers, such as cloud security and cyberattacks, is low.

In retail and consumer products applications, there is a growing demand for eCommerce transactions.

The need for cloud POS is growing as the number of eCommerce transactions grows around the world. Consumers in nations like India prefer to pay after receiving their things using the card-on-delivery payment method. This increases the demand for mPOS terminals that can accept card payments. As a result, mPOS terminals are being deployed by a number of eCommerce companies. As a result, the increased number of eCommerce transactions around the world drives increasing demand for cloud POS terminals.
Cloud POS Market Segment Analysis:
The Cloud POS Market is segmented by Component, Service, Organization Size, and Application Areas.

Based on the Organization Size, the market is segmented into SMEs, and Large Enterprises. SMEs segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2022-2029. Individuals, small enterprises, and freelancers can use specific tools provided by cloud POS vendors. Because cost-effectiveness is one of the most significant criteria of small enterprises, there are specific vendors accessible to meet their demands. These companies offer easy tools to SMEs to help them manage people, projects, and assets. These simple tools also assist SMEs in fully utilising the software that has been delivered. The use of cloud POS solutions among SMEs is expected to rise during the forecast period, allowing SMEs to capture a significant market share during the forecast period.

Based on the Application Areas, the market is segmented into Retail and Consumer Goods, Travel and Hospitality, Media and Entertainment, Transport and Logistics, and Healthcare. Media and Entertainment segment is expected to hold the largest market share of xx% by 2029. Cloud point-of-sale systems are extensively used by the media and entertainment industries. This industry uses cloud-based point-of-sale systems at casinos, movie theatres, theme parks, museums, and sports arenas. The technology ensures adaptability and transparency for this sector. It also delivers improved customer service, which contributes to increased revenue.

Some cloud POS industry companies, such as First Data, have begun to invest in the sports and entertainment application space. In July 2016, First Data partnered with Bypass to create a new, comprehensive payment solution for sports arenas and concert events. The company's groundbreaking Clover series of POS devices and business management solutions are combined with Bypass's revolutionary cloud-based software and back-office administration capabilities as part of this unique collaboration. Both companies have previously worked together to support major athletic events and concerts across the country.
Cloud POS Market Regional Insights:
The North American region is expected to dominate the Cloud POS Market during the forecast period 2022-2029. The North American region is expected to hold the largest market share of xx% by 2029. In the North American POS terminal market, the United States represents a key portion. Various types of POS terminals have been utilised at shops around the country for numerous years, necessitating their replacement with more modern technology. Hardware sales, digital POS, cloud subscriptions, or mPOS transactions are on the rise across North America, ranging from futuristic hand-held tablets with a payment terminal to sleek all-in-one computers. The desire for modern touch screen hardware and fully loaded Cloud Point of Sale (POS) software, as well as small and medium-sized merchant demand, has resulted in a substantial shift in the region's POS sector.

A range of powerful, versatile, and versatile hybrid multi-function configurable POS systems, such as POS-n-go, will meet the needs of small and medium-sized restaurants and retailers throughout North America as cloud-based apps become more and more prevalent. POS hardware and software from NCR are used by most convenience stores in North America.

Asia Pacific region is expected to grow rapidly at a CAGR of xx% during the forecast period 2022-2029. Cloud POS market growth in Asia Pacific is expected to be driven by a rapidly growing customer base, owing to the growing significance of SMEs, as well as lower TCO. As a result of low queue times, high security levels, paperless receipt options, and reduced check-out area requirements, cloud POS systems are expected to drive growth in the Asia Pacific cloud POS market during the forecast period.

The objective of the report is to present a comprehensive analysis of the Global Cloud POS Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Global Cloud POS Market dynamic and structure by analyzing the market segments and projecting the Global Cloud POS Market size. Clear representation of competitive analysis of key players by Distribution Channel, price, financial position, product portfolio, growth strategies, and regional presence in the Cloud POS Market make the report investor’s guide.
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Global Cloud POS Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 2.78 Bn.


Forecast Period 2022 to 2029 CAGR:
24.5%
Market Size in 2029:
US $ 16.10 Bn


 Segments Covered:
by  Component
• Solution
• Services


by  Service
• Training, Consulting, and Integration
• Support and Maintenance


by Organization Size
• SMEs
• Large Enterprises


by Application Areas
• Retail and Consumer Goods
• Travel and Hospitality
• Media and Entertainment
• Transport and Logistics
• Healthcare



Cloud POS Market, by Region
• North America
• Europe
• Asia Pacific
• South America
• Middle East and Africa
Cloud POS Market Key Players
• Square Inc (US)
• Cegid (France)
• UTC RETAIL (US)
• Shop Keep (US)
• PAR Technology (US)
• Shopify (Canada)
• B2B Soft (US)
• Intuit (US)
• Lightspeed (Canada)
• Oracle (US)
• SalonTarget (US)
• RetailOps (US)
• Celerant Technology (US)
• TouchSuite (US)
• Clover (US)
• Revel Systems (US)
• ERPLY (US)
• OBnico Group (UK)
• Diaspark (US)

Frequently Asked Questions:

1] Which region is expected to hold the highest share in the Cloud POS Market?
Ans. North America is expected to hold the highest share in the Cloud POS Market.

2] Who are the top key players in the Cloud POS Market?
Ans. Square Inc (US), Cegid (France), UTC RETAIL (US), Shop Keep (US), and PAR Technology (US) are the top key players in the Cloud POS Market.

3] Which segment is expected to hold the largest market share in the Cloud POS Market by 2029?
Ans. Media and Entertainment segment is expected to hold the largest market share in the Cloud POS Market by 2029.

4] What is the market size of the Cloud POS Market by 2029?
Ans. The market size of the Cloud POS Market is expected to reach US $ 16.10 Bn. by 2029.

5] What was the market size of the Cloud POS Market in 2021?
Ans. The market size of the Cloud POS Market was worth US $ 2.79 Bn. in 2021.