By 2030, it is anticipated that the market for cloud point of sale (POS) would reach USD 5.8 billion with a CAGR of 19.40%.
The Cloud Point of Sale (POS) Market was worth $ 14.76 billion USD. The market is anticipated to expand at a CAGR of 15.25% from 2022 to 2030, according to MRFR analysis. During the historical forecast period, the market was valued at USD 1046 Million. Digital technology has improved the commercial sector all over the world. The popularity of cashless transactions is rising along with the need for security. The Cloud Point of Sale (POS) Market will benefit from its connectivity with smartphones and other wireless devices. The market is being driven by factors such as the growing desire for greater company optimization and the growing use of new technologies. The Point of Sale is a mechanism for keeping track of consumer orders.
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The
increasing use of digital platforms is one of the key factors driving the Cloud
Point of Sale Market. Mobile devices with an internet connection can be
combined with on-cloud POS systems. It allows the user to keep real-time track
of productivity reports and inventory management. It also delivers critical
data analytics, allowing businesses to track customer behavior and improve
their services. It will also assist businesses in managing sales and payments
through a single system.
Market Segmentation
Based
on the end-user, the Global Cloud Point of Sale (POS) Market has been segmented
into E-Commerce & Retail, Logistics & Transport, Hospitality &
Travel, Healthcare, and Others.
Based
on the components, the Global Cloud Point of Sale (POS) Market has been
segmented into services (Training and Support Services, Integration and
Implementing Services, and Consulting Services) and solutions.
Based
on the organization size, the Global Cloud Point of Sale (POS) Market has been
segmented into Medium, Small Enterprises, and Large Enterprises.
Based
on the region, the Global Cloud Point of Sale (POS) Market has been segmented
into North America, Asia-Pacific, Europe, and the Rest of the World.
Regional Classification
In
the future years, North America will dominate the market. It is because it has
one of the industry's greatest cloud infrastructures. The presence of prominent
important people also contributes to the overall growth. During the forecast period,
however, the Asia-Pacific area will grow at the quickest CAGR. The cloud point
of sale market is rising due to the growing e-commerce sectors and firms such
as Flipkart, Amazon, Alibaba, and others. They also promote cashless
transactions via card and digital transactions.
Industry News
The
major key players in the Global Cloud Point of Sale (POS) Market are PAR
Technology, Diaspark (the US), Salon Target (the US), ERPLY (the US), Cegid
(France), Celerant Technology (the US), Clover (the US), Process Engineering
(the US), Omnico Group (UK), One Step Retail Solutions (the US), Square Inc.
(the US), Lightspeed (Canada), RetailOps (the US), Intuit Inc. (the US), UTC
Retail (the US), Teamwork Retail (the US), Jesta I.S. (Retail processing LLC)
(Canada), Shopify (Canada), B2B Soft (the US), TouchSuite (the US), One Step
Retail Solutions (the US), Clover (the US), Oracle Corporation (the US),
Phorest (Ireland), ShopKeep (the US), and Revel Systems (the US).
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