The latest research study “Cloud POS Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global cloud point of sale (POS) market size reached US$ 2.76 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 10.23 Billion by 2027, exhibiting at a CAGR of 23.20% during 2022-2027.
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Global Cloud POS Overview:
A cloud POS refers to a web-based point-of-sale system that enables businesses to manage consumer transactions and business operations through the internet. It utilizes various hardware, software, and service-based solutions to process transactions while selling a product or service. It eliminates the need for large, expensive servers, efficiently handles POS terminals across different locations and provides improved service delivery to customers. It is more accurate and convenient to use than hardwired POS systems. It also increases speed, offers product analysis and inventory control, and reduces system downtime. As a result, cloud POS finds extensive applications in the entertainment, healthcare, hospitality, transportation, and logistics industries across the globe.
Year Considered to Estimate the Market Size:
Base Year of the Analysis: 2021
Historical Period: 2016-2021
Forecast Period: 2022-2027
Cloud Point of Sale Market Trends and Drivers:
The global cloud POS market is primarily driven by the rising demand for safer and faster payment processing solutions among businesses and organizations. Moreover, the surging product adoption in restaurants to simplify customer engagement operations and optimize sales tasks is positively influencing market growth.
Additionally, the rising use of cloud POS to track consumer behavior, enhance profits, and streamline daily operations is another major growth-inducing factor. Besides this, various technological advancements, including the integration of cloud POS systems with machine learning (ML) and artificial intelligence (AI) technology to accurately track inventory, monitor consumer behavior, and analyze sales data, have catalyzed market growth.
Furthermore, the increasing use of cloud POS systems in movie theatres, casinos, and sports arenas is contributing to market growth. Other factors, including the rising consumer preferences for digital payment solutions, rapid growth in the e-commerce industry, and elevating levels of urbanization, are also anticipated to drive the market further.
Global Cloud Point of Sale Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Cloud Point of Sale Companies:
B2B Soft, Cegid Group, Fiserv Inc., Intuit Inc., Lightspeed Commerce Inc., NEC Corporation (AT&T Inc.), Oracle Corporation, Panasonic Corporation, PAR Technology Corporation, Samsung Electronics Co. Ltd., Shopify Inc. and Square Inc.
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The report has segmented the market on the basis of region, component, type, organization size and application.
Breakup by Component:
Breakup by Type:
- Fixed Point of Sale
- Mobile Point of Sale
Breakup by Organization Size:
- Small and Medium-sized Enterprises
- Large Enterprises
Breakup by Application:
- Retail and Consumer Goods
- Travel and Hospitality
- Media and Entertainment
- Transport and Logistics
Breakup by Region:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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