Cloud POS Market Emerging Trends, Strong Application Scope, Size, Status, Analysis and Forecast to 2025
Category: #tech  By Partha Ray  Date: 2019-07-11
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Cloud POS Market Emerging Trends, Strong Application Scope, Size, Status, Analysis and Forecast to 2025

Market Study Report newly added the Global Cloud POS Market Report that gives meticulous investigation of current scenario of the market size, share, demand, growth, trends, and forecast in the coming years.

The rise in fraudulent activities is forcing several industries to introduce innovative payment solutions with advanced data security. In April 2018, Gemalto NV reported that in 2017 over 2.5 billion records globally were stolen, lost or exposed with an increase of 88% from 2016. To curb the increasing fraudulent activities, several regions are witnessing a rise in the implementation of government regulations for financial transaction and customer data security, forcing industries to adopt secure transaction systems. This has resulted in businesses to implement cloud-based payment solutions to reduce data security breaches by storing the data online, reducing the possibility of physical data breaches.
 

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In the cloud POS market, the retail & e-commerce sector will witness high growth over the coming years. These solutions are allowing retailers to provide an effective payment platform to customers, reducing hassles of carrying cash. The industry is reliant on personal data for driving the sales and providing customers safe & unique purchase experience, necessitating the adoption of software-based point-of-sale solutions among retailers. Moreover, the deployment of these solutions provides enhanced customer service, helping businesses to improve operations between customers and businesses. Such factors are positively impacting the cloud POS market growth.
 

The Asia Pacific cloud POS market will dominate the global industry owing to the presence of a large number of SMEs and rapid expansion of retail customer base in the region. The adoption of cloud technology is encouraging enterprises to adopt these POS solutions mainly in the retail & logistics segment. Moreover, the development of the e-commerce sector and the ongoing digitization plans by government authorities in countries including India, Japan, and China will accelerate the cloud POS market growth. Technological innovations and rapid urbanization are also encouraging companies to set up advanced transaction systems in the region.
 

The growing demand for flexible and easy transactions in several sectors is accelerating the cloud POS market growth. These solutions allow users to provide real-time information about purchases and online browsing, increasing the overall store sales. The vendors are offering advanced solutions that can be used/integrated with multiple hardware platforms. For instance, in May 2019, Squirrel Systems announced the launch of Squirrel cloud-based POS solution, built on Microsoft Azure and designed to help restaurants of different sizes. With this solution, restaurants can carry out advanced transactions with their clients. Such factors are anticipated to drive the demand for cloud-based solutions in the restaurant industry landscape.
 

Cloud POS Market is expected to exceed USD 6 billion by 2025. The ongoing digitization in retail & e-commerce sectors is compelling businesses to adopt cloud-based payment solutions for enhancing enterprise operations. The retailers are focusing on implementing efficient point-of-sale solutions to increase mobility and flexibility, driving the cloud POS market growth. These solutions are aiding companies in several aspects such as inventory management, monitoring & reporting, and customer data management. Moreover, the benefits associated with cloud technology, such as security and data storage, are forcing end-users to shift toward cloud POS solutions, driving the industry growth.
 

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The key players operating in the cloud POS market are NCR Corporation, TouchBistro Inc, Upserve, Inc, Clover Network, Inc., Lightspeed POS Inc., Revel Systems, Inc., Toast, Inc., EPOS Now, PAR Technology, Shopify, Square, Inc., Touchsuite, and Vend. These players are competing based on their product portfolios, differentiation, and innovations. The growing demand for these solutions in several sectors is encouraging manufacturers to highly invest in R&D activities and offer diversified solutions, accelerating the industry growth.
 

Table of Content:
 

Chapter 1. Methodology and Scope
 

Chapter 2. Executive Summary
 

Chapter 3. Cloud POSs Industry Insights
 

Chapter 4. Cloud POS Market, By Component
 

Chapter 5 Cloud POS Market, By Organization Size
 

Chapter 6 Cloud POS Market, By Application
 

Chapter 7. Cloud POS Market, By Region
 

Chapter 8. Company Profiles
 

More Details on this Report At: https://www.marketstudyreport.com/reports/cloud-pos-market
 

Related Report: -
 

Cloud POS Market to 2027 - Global Analysis and Forecasts by Component (Solution and Services); Organizational Type (Large Enterprise and SMEs); End-user (Retail & Consumer Goods, Travel & Hospitality, Media & Entertainment, Transport & Logistics, Healthcare, and Others)
 

The global cloud POS market was valued at US$ 4.95 Bn in 2018 and is expected to grow at a CAGR of 21.6% during the forecast period 2019 - 2027 and reach US$ 27.82 Bn in 2027. Global cloud POS market is majorly driven by increasing adoption of cloud technology across the industries and the increasing need for improved operations in business. However, the rapidly changing nature of technology requiring consistent changes in POS hardware and software. Also, the proliferation of customized POS and surging 5G technology and mobile POS are expected to provide substantial growth opportunity to the key players in this market.
 

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About Author

Partha Ray    

Partha Ray

Partha is into digital marketing since the last 3 years and has worked on multiple projects across various industries. An Computer Science engineer by education, he has prior experience in software development. His other interests include playing cricket & Hockey.

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