Overview and Scope
Cloud point of sale (POS) refers to an online point of sale system that enables company owners to accept payments via the internet rather than using a desktop computer. Operators can save the transaction, inventory, employee, and other company data on a remote server using cloud-based POS systems. The cloud point of sale (POS) allows company owners to run their business efficiently, as the transactions are made quicker and safer, and more data is tracked using cloud point of sale (POS) systems.
Sizing and Forecast
The cloud point of sale (pos) market size has grown exponentially in recent years. It will grow from $5.75 billion in 2023 to $7.04 billion in 2024 at a compound annual growth rate (CAGR) of 22.5%. The growth in the historic period can be attributed to shift to cloud computing, mobile commerce and omni channel retailing, cost efficiency and scalability, rapid deployment and updates, integration with other cloud services.
The cloud point of sale (pos) market size is expected to see exponential growth in the next few years. It will grow to $16.34 billion in 2028 at a compound annual growth rate (CAGR) of 23.4%. The growth in the forecast period can be attributed to increasing emphasis on data security and privacy, mobile payments and contactless transactions, scalability and flexibility for business growth, integration with e-commerce platforms, global expansion of businesses. Major trends in the forecast period include real-time analytics and reporting, customization and configurability, customer engagement features, sustainability initiatives, edge computing for in-store processing.
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Segmentation & Regional Insights
The cloud point of sale (pos) market covered in this report is segmented –
1) By Component: Solution, Services
2) By Organization Size: Small and Medium Enterprises, Large Enterprises
3) By Application: Retail & E-Commerce, Restaurant, Hospitality, Transportation & Logistics, Entertainment & Media, Healthcare, Other Applications
North America was the largest region in the cloud point of sale (POS) market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cloud point of sale (pos) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The growing acceptance of digital payments propels the growth of the cloud point-of-sale market. Digital payments refer to payments made through bank transfers, mobile money, and payment cards including debit, credit, and prepaid cards. Decreasing popularity of cash usage, a growing development of user-friendly payment portals, and government support for transparent payment gateways have boosted the utilization of digital payments across the globe. Increasing acceptance of digital payments is expected to boost utilization of cloud point of sale, as they act as a fundamental entity to accept the payment through the internet. According to the RBI Annual Report 2021, the percentage of digital transactions in total non-cash retail payments increased from 97.0% in 2019-2020 to 98.5% in 2020-21. Therefore, the growth in digital payments is expected to boost demand for cloud point of sale (POS) market during the forecast period.
Key Industry Players
Major companies operating in the cloud point of sale (pos) market report are PAR Technology Corp., Cegid Group, Celerant Technology, Clover network Inc, Square Inc., Toast Inc., Lightspeed POS Inc., Revel Systems Inc., ShopKeep, Vend Limited, TouchBistro Inc., Upserve Inc., NCR Corporation, Heartland Payment Systems LLC, Shopify Inc., Oracle Corporation, Amazon Web Services Inc., Salesforce. com Inc., SAP SE, IBM Corporation, Microsoft Corporation, Google LLC, First Data Corporation, Global Payments Inc., Ingenico Group, Verifone Inc., Adyen N. V., Worldpay Inc., Fiserv Inc., Elavon Inc.
The cloud point of sale (pos) market report table of contents includes:
1. Executive Summary
- Cloud Point of Sale (POS) Market Characteristics
- Cloud Point of Sale (POS) Market Trends And Strategies
- Cloud Point of Sale (POS) Market – Macro Economic Scenario
- Global Cloud Point of Sale (POS) Market Size and Growth
- Cloud Point of Sale (POS) Market Segmentation
- Cloud Point of Sale (POS) Market Regional And Country Analysis
…………..
- Key Mergers And Acquisitions In The Cloud Point of Sale (POS) Market
- Cloud Point of Sale (POS) Market Future Outlook and Potential Analysis
- Appendix
List Of Tables :
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Cloud Point of Sale (POS) Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Cloud Point of Sale (POS) Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Cloud Point of Sale (POS) Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
………………
Table 74: PAR Technology Corp. Financial Performance
Table 75: Cegid Group Financial Performance
Table 76: Celerant Technology Financial Performance
Table 77: Clover network Inc Financial Performance
Table 78: Square Inc Financial Performance
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