Global Cloud Point of Sale (POS) Market valued USD 1,046.0 million in 2017 and is expected to register a CAGR of 21.4% during the forecast period to reach USD 4,226.3 million by 2024.
— Cloud Point of Sale Market Synopsis:
Digital transformation has made a significant impact on the commercial sector, particularly in retail and e-commerce. Additionally, digital transactions, especially through card payments, are increasing rapidly across verticals. The organizations are investing heavily for maintaining the traditional systems for a seamless transaction process. This eventually increases the capital and operational expenditures. However, advancements in cloud computing technology have reduced the need for legacy systems that includes on-site servers, hardware, and high licensing and subscription fees. Therefore, the cloud-based point of sale (POS) offers greater flexibility in maintaining central remote servers to maintain data and applications.
Cloud Point of Sale (POS) Market are web-based POS systems where the transactional information are transmitted through remote cloud services. The end users of the cloud POS avail this solution through subscription-basis instead of paying for the software.
The cloud-based POS systems can be easily installed on mobile devices and data can be accessed at any time from any Internet-connected computer or mobile device. It operates on client-side hardware, and with the help of a remote server the information can be processed and integrated with multiple sales channels.
An increase in adoption of efficient management of POS terminals across multiple locations, growing demand for e-commerce transactions in the retail and consumer goods sectors are some of the major factors that are expected to drive the growth lof the cloud POS market during the forecast period. However, the lack of infrastructure, and high dependence on legacy systems are likely to hinder the growth of the cloud POS market during the assessment period.
The global cloud POS market valued USD 1,046.0 million in 2017 and is expected to register a CAGR of 21.4% during the forecast period to reach USD 4,226.3 million by 2024.
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Major Key Players:
• Square Inc (US)
• Celerant Technology (US)
• TouchSuite (US)
• Clover (US)
• Revel systems (US)
• ERPLY (US)
• Cegid (France)
• PAR Technology (US)
• Shopify (Canada)
• UTC RETAIL (US)
• ShopKeep (US)
• B2B Soft (US)
• Intuit Inc (US)
• Lightspeed (Canada)
• Oracle Corporation (US)
• SalonTarget (US)
• RetailOps (US)
• Omnico Group (UK)
• Diaspark (US)
• Teamwork Retail (US)
• Jesta I.S. (Retail Process Engineering, LLC) (Canada)
• One Step Retail Solutions (US)
• Phorest (Ireland)
Geographically, the global cloud POS market has been segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. North America accounted for the largest market in 2018 and the US is the leading country with respect to the deployment of POS solutions. Moreover, Asia-Pacific is expected to be the fastest-growing cloud POS market over the next few years.
The government initiatives to boost the retail and e-commerce sector and rapid investments from domestic vendors to develop the cloud-based infrastructure are factors expected to propel the market growth during the forecast period.
The global cloud POS market has been segmented based on component, organization size, and end user.
• By component, the global cloud POS market has been divided into solutions and services. The services segment has been subdivided into implementing and integration services, consulting services, and support and training services.
• Based on organization size, the global cloud POS market has been categorized as small and medium-sized enterprises (SMEs) and large enterprises.
• On the basis of end user, the global cloud POS market has been divided into transport and logistics, healthcare, retail and e-commerce, travel and hospitality, and others.
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The vendors operating in the cloud POS are majorly from the US and Europe. The market players are adopting a partnership program with IT giants such as IBM Corporation, HP Inc., and Lenovo to expand its cloud POS solution that can be compatible with various operating platforms such as mobile, tablets, and desktop.
The vendors operating in the market are operating in the different regions through partnerships, value-added resellers, and system integrators to enter the untapped markets in Asia-Pacific.
• Cloud POS solutions providers
• Systems integrators
• Cloud services providers
• Government organizations
• Retail Vendors
• Local/Government Agencies
• Cloud Service Providers
• IT Providers
• Value-added Resellers
• Cloud Infrastructure Agencies
• Research Firms
• Software Vendors
Table of Contents
1 Executive Summary
1.1 Market Attractiveness Analysis
1.1.1 Global Cloud POS Market, By Component
1.1.2 Global Cloud POS Market, By Organization Size
1.1.3 Global Cloud POS Market, By End User
1.1.4 Cloud POS Market, By Region
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List of Tables
Table 1 Global Cloud POS Market, By Region, 2019–2024
Table 2 North America: Cloud POS Market, By Country, 2019–2024
Table 3 Europe: Cloud POS Market, By Country, 2019–2024
List of Figures
Figure 1 Global Cloud POS Market Segmentation
Figure 2 Forecast Methodology
Figure 3 Porter’s Five Forces Analysis of The Global Cloud POS Market
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