Cloud Point of Sale (POS) Market Analysis
Market Research Future (MRFR) estimates the global pos market share size to reach USD 14.76 Billion at a CAGR of 15.25% from 2022 to 2030 (forecast period).
Increasing Use of Digital Platforms
Digital technology has aided in the advancement of the commercial sector all over the world. It enables e-commerce and retail enterprises to give better customer service. However, the increasing number of cyber-attacks and data theft will stymie industry expansion. Furthermore, the growing requirement for security is driving an increase in the adoption of cashless payments. Its connectivity with smartphones and other wireless devices will drive the Cloud Point of Sale (POS) Market forward.
The increasing use of digital platforms is regarded as one of the key driving factors of the Cloud Point of Sale Market. As a result, the use of digital platforms for payments and money transfers is rapidly rising. Furthermore, the cloud point of sale promotes flexibility and mobility by facilitating safe and quick transactions.
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The Global Market to Recover Post COVID-19 Pandemic
The majority of POS systems are manufactured in China; however, the market has been severely impacted by the spread of the COVID-19 disease. In addition, a lack of swipe devices in retail outlets is a big contributor to the slow growth. It is also predicted that the coronavirus sickness will have an impact on people's buying habits. As a result, a surge in contactless payment may provide individuals with new chances to improve transaction speeds, secure payments, and so on.
Market Segmentation
The global cloud point of sale market has been divided into end-user, component, and organization size.
On the basis of end-user, the worldwide cloud point of sale market has been segmented into Healthcare, E-Commerce and Retail, Logistics and Transport, Hospitality and Travel, and Others.
On the basis of components, the worldwide cloud point of sale market has been segmented into services and solutions. The services segment has been classified into Training and Support Services, Integration and Implementing Services, and Consulting Services.
On the basis of organization size, the global cloud point of sale market has been split into Medium and Small Enterprises and Large Enterprises.
Regional Analysis
North America to Dominate the Global Market
North America will continue to dominate the market in the future years. It is because it provides one of the industry's greatest cloud infrastructures. Furthermore, the existence of prominent essential players is fueling general growth.
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Key Players
PAR Technology, Diaspark (US), Clover (US), Salon Target (US), ERPLY (US), Cegid (France), Celerant Technology (US), Process Engineering (US), Omnico Group (UK), RetailOps (US), One Step Retail Solutions (US), Square Inc. (US), Lightspeed (Canada), Intuit Inc. (US), UTC Retail (US), Teamwork Retail (US), B2B Soft (US), Jesta I.S. (Retail processing LLC) (Canada), Shopify (Canada), TouchSuite (US), Phorest (Ireland), One Step Retail Solutions (US), Clover (US), Oracle Corporation (US), ShopKeep (US), Revel Systems (US)
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