According to the global cloud POS market report by IMARC Group, the market reached a value of 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.
A cloud point-of-sale (PoS) helps in the efficient management of POS terminals across multiple locations. This solution provides satisfaction and improved service delivery to its customers. It ensures high scalability and enhanced data security for various businesses. In comparison to hardwired POS systems, cloud POS offers enhanced flexibility in a cost-effective manner. It is widely used across multiple industries, such as hospitality, retail, e-commerce, transportation, logistics, media, and healthcare.
Global Cloud POS Industry Trends and Drivers:
The global market is primarily driven by the increasing demand for cloud-based payment systems by small businesses. Furthermore, a considerable rise in the adoption of mobile phones and contactless payment options has provided a boost to the market growth.
Besides this, the widespread adoption of advanced solutions by restaurants for facilitating rapid payment transactions is favorably impacting the market growth across the globe.
Other factors, including significant growth in the e-commerce industry and widespread integration of artificial intelligence (AI) technology with cloud POS systems, are anticipated to contribute to the market growth.
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Cloud POS Market 2022-2027 Analysis and Segmentation:
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, Canada)
- Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- 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.