Dallas, Texas, Oct. 10, 2022 (GLOBE NEWSWIRE) -- One of the major driving forces behind the growth of the cloud point-of-sale market is the increasing usage of digital platforms. Owing of this, the usage of digital platforms for payments and money transfers is growing quickly. Likewise, the cloud point of sale enhances flexibility and mobility and supports quick and safe transactions. The expansion of the market will be fueled by the interoperability and remote accessibility that cloud POS solutions offer. To manage payroll in their offers, players offer a variety of capabilities, including online ordering & contactless payments, enhanced reporting & business intelligence, labor scheduling, inventory management, and HR services. Owners can boost total efficiency by using the program, which connects many company tasks on a single device. New software entering the market will also help to accelerate the expansion of the sector.
Over the next few years, it is also anticipated that a trend toward developing software for standalone buildings or terminals and an all-in-one system for retail/restaurant chains will favour industry growth. A POS programme provides the option of installation on a variety of gadgets, such as desktops, tablets, or laptops. Every vendor uses it since it is interoperable with every operating system.
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When updating the payment and transaction information online, a web-based point-of-sale system is referred to as a cloud-based POS. The need for large, pricey servers is eliminated as a result. The cloud point-of-sale system enables improved customer service delivery while facilitating the management of POS terminals across numerous locations. Using merely internet connections, this cloud POS system assists retailers in enabling transactions. To put it simply, compared to hardwired POS systems, cloud POS systems offer you a simple and flexible method of making payments. The size of the global cloud POS market was estimated to be worth USD 2.75 billion and is expected to increase to USD 8.82 billion by 2029, rising at a CAGR of 21.50% over that time.
During the projected period, the support and maintenance segment is anticipated to increase at the greatest CAGR. By utilizing cutting-edge Point-to-Point Encryption (P2PE) technology, the POS systems additionally provide protection against threats relating to the safety and security of sensitive cardholder/payment data. In addition to management, gateway, and maintenance services, POS services also include payment services.
In the upcoming years, North America will rule the market, since it provides one of the top cloud infrastructures in the sector. The overall growth is also being fueled by the presence of notable essential players. The Asia-Pacific region, however, will experience the greatest CAGR growth during the forecast period. The market for cloud point of sale is expanding at a faster rate thanks to the expanding e-commerce industries and businesses like Flipkart, Alibaba, Amazon, etc. Through card and digital transactions, they also encourage cashless payment.
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In June 2021, Lightspeed joined forces with the data-driven marketing platform Ascent360. This partnership aims to disseminate point-of-sale and e-commerce data throughout the world and enable merchants to use crucial consumer data, segment customers, and offer tailored omnichannel communications, all of which aid in attracting and keeping customers. Likewise, in June 2021, Ecwid and NuORDER were purchased by Lightspeed. Through Ecwid, which enables businesses to create online storefronts and connect with customers across all major digital platforms, the Lightspeed omnichannel approach will be expanded as a result of this acquisition.
Table of Contents for Cloud POS Market:
Chapter 1 Introduction
Chapter 2 Research Methodology
Chapter 3 Executive Summary
Chapter 4 Market Outlook
4.1 Introduction
4.2 Value Chain Analysis
4.3 Market Dynamics
4.3.1 Drivers
4.3.1.1 Rising Business Mobility and Flexibility
4.3.1.2 Enhanced Service Delivery
4.3.2 Restraints
4.3.2.1 Skepticism Regarding Cloud-Based Offerings
4.3.2.2 Opportunities
4.3.3.1 Increasing Cashless Transactions in Different Countries
4.4 Porter’s Five Forces Analysis
4.5 PEST Analysis
4.6. Regulatory Landscape
4.7 COVID-19 Impact Analysis
Chapter 5 Cloud POS Market by Component
5.1 Introduction
5.1.1 Solutions
5.1.2 Services
Chapter 6 Cloud POS market by Enterprise Size
6.1 Introduction
6.1.1 Small and Medium-Sized Enterprises
6.1.2 Large Enterprises
Chapter 7 Cloud POS Market by End User
7.1 Introduction
7.1.1 Retail & Consumer Goods
7.1.2 Travel & Hospitality
7.1.3 Media & Entertainment
7.1.4 Transportation & Logistics
7.1.5 Healthcare
7.1.6 Other
Chapter 8 Cloud POS Market by Region
8.1 Introduction
8.2 North America
8.2.1 U.S.
8.2.2 Canada
8.3 Europe
8.3.1 Germany
8.3.2 France
8.3.3 UK
8.3.4 Rest of Europe
8.4 Asia Pacific
8.4.1 China
8.4.2 Japan
8.4.3 India
8.4.4 Rest of Asia Pacific
8.5 Middle East & Africa
8.5.1 UAE
8.5.2 South Africa
8.5.3 Rest of Middle East & Africa
8.6 South America
8.6.1 Brazil
8.6.2 Rest of South America
Chapter 9 Competitive Landscape
Chapter 10 Company Profiles
10.1 Square Inc
10.2 Cegid
10.3 UTC RETAIL
10.4 Shop Keep
10.5 PAR Technology
10.6 Shopify
10.7 B2B Soft
10.8 Intuit
10.9 Lightspeed
10.10 Oracle
10.11 Other Companies
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