Global Cloud POS Market Size worth over $6bn by 2025

Cloud POS Market size is set to surpass USD 6 billion by 2025; according to a new research report by Global Market Insights, Inc.
 

Cloud-based systems enable end-users to connect with other devices and offer seamless management of inventory, analytics, and remote access control. The growing penetration of cloud technology and the increasing number of devices being connected to the internet have driven the technology revolution in the security space, providing an impetus to the cloud POS market. Cloud-enabled mPOS terminals can leverage analytics to react to customer preferences faster and more passively, leading to greater customer satisfaction. The technology allows accuracy and connectivity between systems that are separated by a large geographical distance. It provides various advantages compared to the traditional systems and makes it easier for retailers to accept & print online orders and track the movement of products, positively impacting the cloud POS market growth.

 

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Increased internet penetration has enabled various companies to implement cloud-based functions in their operational processes, thereby propelling the cloud POS market demand. These systems are different from the traditional point-of-sale largely as user data, such as inventory and sales are not stored locally, but on a remote server. Business information stored on the cloud can be downloaded and maintained across a vast geographical space. These systems can be updated automatically without the need for expensive additional investments and inconveniences associated with conventional computer-based systems. Furthermore, they help in improving the customer journey and provide useful insights into the business performance by highlighting growth areas, margins, and efficiency of the marketing, sales, and finance department, thereby augmenting the cloud POS market demand.
 

Cloud POS Market

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The growing demand for effective employee management solutions in retail and restaurant businesses is predicted to augment the cloud POS market. The casual dining restaurants manage their orders and customers through point-of-sale solutions. Software tools allow managers to track the staff assigned to an order, waiting time, and feedback received from the employee. Several players in the market are engaged in offering staff management tools for different application segments. For instance, Shopkeep is offering an intelligent staff management solution, Healthy Kitchen, that comes with different features such as easy labor tracking, smart scheduling, and convenient clock-in. The company is offering this solution specifically to QSR and bars.
 

Browse key industry insights spread across 220 pages with 307 market data tables & 27 figures & charts from the report, “Cloud POS Market Size By Component (Software, Service [Maintenance & Support, Consulting & Training]), By Organization Size (SMEs, Large Enterprises), By Application (Retail & E-Commerce, Restaurant, Hospitality, Transportation & Logistics, Entertainment & Media, Healthcare), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Spain, Benelux, China, India, Japan, Australia, Singapore, Brazil, Mexico, GCC, South Africa), Growth Potential, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/cloud-pos-market

 

In 2018, the restaurant sector accounted for majority share in the cloud POS market. The application of point-of-sale systems for inventory management is growing rapidly due to the increased importance of such solutions for maintaining the demand & supply of stock units. The industry needs to maintain the stock information to avoid the situation of operational downtime. The restaurants are transforming their traditional stock management tools to modern inventory management point-of-sale technologies, allowing players to perform multiple tasks or functions with the help of a single solution. Moreover, stock unavailability or operational downtime also leads to loss of loyal or potential customers. Such factors are encouraging these restaurants to install point-of-sale solutions for managing their orders, stock/inventory, payments, and customer information, propelling the cloud POS market size.
 

In cloud POS market, Asia Pacific region is witnessing high adoption of restaurant POS solutions due to the increasing usage of these devices for food delivery applications. The region will grow at a CAGR of over 27% over the forecast timespan. Customers are dependent on these food delivery services to order their food items at home. Such factors are encouraging restaurant outlets to provide free delivery services to their customers. The online ordering facilities in these countries are growing rapidly due to the adoption of several food ordering applications such as Zomato, Swiggy, and Food Panda. These companies are partnering with restaurants to provide food delivery to customers on behalf of these outlets. These online services allow customers to check out restaurants nearby and select their dishes from their favorite restaurants. Such ease in customizations and increased flexibility in food ordering is driving food delivery services in these countries, driving the cloud POS market share.
 

Major companies participating in the cloud POS market include Vend, Upserve, Inc., TouchBistro Inc., Toast, Inc., Square, Inc., Shopify, Revel Systems, Inc., PAR Technology, NCR Corporation, Lightspeed POS Inc., EPOS Now, and Clover Network, Inc, among others. The cloud POS industry is witnessing several mergers and acquisitions between solution providers and customers. For instance, restaurant businesses are acquiring POS platform providers to strengthen their presence in the industry. In November 2018, Dineout announced the acquisition of Torqus, a SaaS-based restaurant management solution provider for expanding its business as a full stack service provider in the online restaurant booking space.
 

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The cloud POS market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2013 to 2024, for the following segments:

By Component

  • Software
  • Service
    • Maintenance & support
    • Consulting & training

By Organization Size

  • SMEs
  • Large Enterprises

By Application

  • Retail and e-commerce
  • Restaurants
  • Hospitality
  • Transportation & logistics
  • Entertainment & media
  • Healthcare

The above information is provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Benelux
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • Singapore
  • Latin America
    • Brazil
    • Mexico
  • MEA
    • GCC
    • South Africa

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