Cloud Pos Market - Industry Size, Share, Growth & Forecast 2028

Cloud POS is a web-based POS system that is used to process payments over the internet. With the help of cloud POS, users don't need cumbersome and expensive servers or expensive software that they have to buy new versions to upgrade. A cloud-based POS system processes all payment transactions and updates online instead of on your local computer.

The Cloud POS Market is expected to grow at a steady rate of around 20% owing to the growing internet penetration around the world. The growing adoption of cloud POS is mainly attributed to the mobility benefits offered by cloud POS systems. Additionally, cloud POS systems help businesses save operational and functional costs, this is accelerating the market growth during the forecast period. Moreover, the growing internet penetration across countries is expected to drive the market during the forecast period. For instance, according to datareportal, 63.5% of the world’s population is on the internet.

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According to UnivDatos Market Insights (UMI)’ research report “Global Cloud POS Market”, the market is expected to witness robust growth during the forecast period (2022-2028). This is mainly due to growing technological advancements in the cloud POS technology coupled with growing technological advancements in the cloud industry.

Based on component, the market is segmented into software and service. The services segment is expected to grow significantly during the forecast period. The growth of the segment is mainly attributed to the lower costs of cloud POS services. Moreover, the benefits of cloud POS service include flexibility, reduce time to benefit, ease of use, etc. Additionally, the cloud POS services come with maintenance and support as a package which further reduces the cost to the user. Also, the growing trend of subscription-based software renting is also expected to drive the market during the forecast period.

On the basis of organization size, the market is segmented into small and medium enterprises and large enterprises. The small and medium size segment is expected to grow significantly during the forecast period. Small enterprises have very less budgets for buying software licenses. Furthermore, cloud POS vendors have specific tools for individuals and freelancers that help them to customize their software as per their specific needs. These tools help SME’s to fully utilize the deployed software.

APAC to witness extensive growth

For a better understanding of the market adoption of the Cloud POS industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. APAC is anticipated to grow at a substantial CAGR during the forecast period. The growth in the region is mainly attributed to a rapidly growing consumer base. Furthermore, the growing prominence of SMEs is expected to significantly influence the market growth during the forecast period. Moreover, the growing prominence of e-commerce platforms in countries such as India and China are expected to drive the market during the forecast period. For instance, according to e-commerceDB India is the 8th Largest market for e-commerce with the revenue of more than $ 85billion in 2021.

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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the Cloud POS market are Polaris Inc., Honda Motor Co. Ltd., Textron Inc., Kawasaki Heavy Industries Ltd., Yamaha Motor Co. Ltd., Suzuki Motor Corporation, Deere & Company, Bombardier Recreational Products Inc., KWANG YANG MOTOR CO. LTD., and Hisun Motors Corp.

“Global Cloud POS Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.

Market Segmentation:

1. By Component (Software and Services)

2. By Organization Size (Small and Medium Enterprises and Large Enterprises)

3. By Application (Retail and E-Commerce, Restaurants, Hospitality, Transportation & Logistics, Media and Entertainment, Healthcare, and Others)

4. By Region (North America, Europe, Asia-Pacific, Rest of the World)

5. By Company (Cegid, Celerant Technology, Clover Network LLC, ERPLY, Future POS, Lightspeed, NCR Corporation, Oracle, PAR Tech, Revel Systems)

Key questions answered in the study:

1. What are the current and future trends of the global cloud POS industry?

2. How the industry has been evolving in terms of component, organization size, and application?

3. How the competition has been shaping across the countries followed by their comparative factorial indexing?

4. What are the key growth drivers and challenges for the global cloud POS industry?

5. What is the customer orientation, purchase behavior, and expectations from the global cloud POS suppliers across various region and countries?