According to the new market research report by IMARC Group, the global cloud POS market size reached US$ 2.76 Billion in 2021. It is projected to reach US$ 10.23 Billion by 2027, exhibiting at a CAGR of 23.20% during 2022-2027.
A cloud point of sale (POS) is an internet-based POS framework that allows businesses to process customer transactions and manage operations online. It consists of various software, hardware, and service-based solutions that organize the sale of a product or a service. A cloud POS efficiently operates terminals across several locations, eliminates the need for bulky and expensive servers, and offers improved service delivery to the consumers. It aids in enhancing speed, providing inventory control and product analysis, and minimizing system downtime. Compared to the hardwired systems, cloud POS is more accurate and convenient to use. As a result, it finds extensive utilization across various sectors, such as healthcare, entertainment, hospitality, transportation, logistics, etc.
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.
|Market size value in 2021||US$ 2.76 Billion|
|Market forecast in 2027||US$ 10.23 Billion|
|Growth Rate||CAGR of 23.20% from 2022 to 2027|
|Base year for estimation||2021|
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Important Attribute and highlights of the Report:
- Detailed analysis of the global market share
- Market Segmentation
- Historical, current, and projected size of the market in terms of volume and value
- Latest industry trends and developments
- Competitive Landscape
- Strategies of major players and product offerings
Global Cloud POS Industry Trends and Drivers:
The escalating demand for secure and faster payment processing solutions among businesses and organizations is among the primary factors driving the cloud POS market. Besides this, the elevating requirement for these systems in restaurants to simplify customer engagement operations and optimize sales tasks is further augmenting the market growth.
Apart from this, the expanding e-commerce sector is also catalyzing the global market. Moreover, continuous technological advancements, including the integration of artificial intelligence (AI) and machine learning (ML) to accurately track inventory transactions, are acting as significant growth-inducing factors. Furthermore, the growing employment of these solutions in casinos, movie theatres, sports arenas, etc., is expected to propel the cloud POS market in the coming years.
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.
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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.