Cloud POS (Point of Sale) Market Size Projected to Reach USD 5.76 Billion at CAGR of 20.9%, By 2026
October 14, 2021
Reports And Data
Cloud POS (Point of Sale) Market Size – USD 1.26 billion in 2018, Market Growth - CAGR of 20.9%, Market Trends – Surging demand from end-user industries.NEW YORK, NY, UNITED STATES, October 14, 2021 /EINPresswire.com/ -- Technological advancements in cloud computing are one of the primary factors influencing market growth.
The global Cloud POS (Point Of Sale) Market is expected to reach USD 5.76 Billion by 2026, according to a new report by Reports and Data. Cloud POS solution integrates several sales channels along with providing improved security, thereby enabling end-users to reap the benefits of centralized storage, memory, processing, and bandwidth.
Cloud computing provides end-users convenient and global access to a shared pool of computing resources comprising of networked servers, storage, and software applications that are constituted based on demands, fast provisioned to communicate with need, and made available on a pay-per-use basis. Cloud POS allows small & medium-sized enterprises to implement information technology at an affordable cost without requiring colossal investments. Also, Point of Sales (POS), based on cloud computing, provides small & medium-sized enterprises substitute technology to spur their business growth.
Enhanced customer service delivery is one of the most crucial elements of managing a business. Cloud POS enables firms to deliver a great customer experience by providing business owners with the understanding and tools required to deliver the best customer service possible.
A cloud POS system offers enterprises, including retail and restaurant businesses, enhanced security of their critical business information, which is stored and synced electronically and can be restored without any hassle. Further, there is no issue regarding backing up data or losing it on the occasion of a power hardware malfunction or outage. Moreover, cloud-based systems provide benefits of advanced security measures like encryption to protect data from breaches and viruses.
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Key participants include Square Inc., Cegid, UTC Retail, Shopify, Intuit, Oracle Corporation, RetailOps, B2B Soft, Celerant Technology, and Touchsuite, among others.
Further key findings from the report suggest
• By type, native cloud POS is expected to grow at a faster rate in the forecast period. A native Cloud POS is intended to take advantage of new models such as Multi-tenancy, rapid elasticity, and expose standard and open APIs.
• By organization size, large enterprises contributed to a larger market share in 2018 and are projected to witness a growth rate of 20.2% in the forecast period. Cloud-based POS systems considerably diminish human error and provide better inventory management through automation. Also, inventory and sales data are synced and stored as payments are made, permitting real-time inventory control.
• By industry verticals, retail and consumer goods held the largest market share in 2018 and are expected to grow at a rate of 20.1% in the forecast period. Cloud POS enables retailers to stay competitive in the global market as well as offering solutions to eliminate the issues pertaining to software installation, monitoring, patching, and upgrading.
• The travel and hospitality sector in Europe is likely to witness a growth rate of 20.4% in the forecast period.
• The market in the Asia Pacific region dominated the market in 2018 and is likely to have a growth rate of 21.6% in the forecast period. The market dominance of the APAC region is owing to the high deployment of restaurant POS solutions to increase the growth of e-commerce and the implementation of these devices for food delivery applications, among others.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/cloud-pos-point-of-sale-market
For the purpose of this report, Reports and Data have segmented the global cloud POS (Point of Sale) market on the basis of type, organization size, industry verticals, and region:
Type Outlook (Revenue, USD Million; 2016-2026)
Native Cloud POS
Hosted Cloud POS
Organization Size Outlook (Revenue, USD Million; 2016-2026)
Small & Medium Sized Enterprises
Industry Verticals Outlook (Revenue, USD Million; 2016-2026)
Retail & Consumer Goods
Travel & Hospitality
Media & Entertainment
Logistics & Transportation
Regional Outlook (Revenue, USD Million; 2016-2026)
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Market Report includes major TOC points:
• Cloud POS (Point of Sale) market Overview
• Global Economic Impact on Industry
• Global Market Competition by Manufacturers
• Global Production, Revenue (Value) by Region
• Global Supply (Production), Consumption, Export, Import by Regions
• Global Production, Revenue (Value), Price Trend by Type
• Global Market Analysis by Application
• Manufacturing Cost Analysis
• Industrial Chain, Sourcing Strategy and Downstream Buyers
• Marketing Strategy Analysis, Distributors/Traders
• Market Effect Factors Analysis
• Cloud POS (Point of Sale) market Forecast
Conclusively, all aspects of the Cloud POS (Point of Sale) market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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