WorldWide Cloud POS Market, Industry / Sector Analysis Report, Regional Outlook & Competitive Market Share & Forecast, 2019 - 2025 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Cloud POS Market

Industry / Sector Trends

Cloud POS Market size exceeded USD 1.5 billion in 2018 and will grow at a CAGR of around 24% from 2019 to 2025.
 

U.S. SMEs cloud POS market, by application, 2018 & 2025 (USD Million)
 

 

The rise in cashless transactions coupled with the growing demand for e-commerce transactions across several countries has led to the cloud POS market growth. Software and apps are being developed by several companies to cater to the growing demands of customers. Vendors, such as ERPLY, Shopify, and ShopKeep, are focusing on offering highly advanced solutions that can be used on multiple hardware platforms. For instance, ERPLY point-of-sale systems work on iPads, smartphones, tablets, and PCs and combine mPOS solutions with CRM and Enterprise Resource Planning (ERP). Retailers utilizing traditional and on-premise point-of-sale are subject to higher maintenance costs involved in the upgrade of the technology and may not fully provide omnichannel support. As a result, cloud-based payment systems are growing in prominence, causing software developers to constantly upgrade the software based on the changes in the market scenario. These developers are developing terminals that are compatible with EMV technologies due to the penetration of contactless cards in the industry. Such factors are anticipated to drive the cloud POS market demand.
 

The software can be accessed from any hardware device that has an internet connection, offering the flexibility for real-time viewing of productivity reports, inventory counts, and labor usage percentages. In addition, benefits, such as the efficient management of several restaurant/retail outlets across varied locations, are contributing to the growing demand for these solutions, propelling the cloud POS market share. The inclination on delivering online solutions is being witnessed as the software can be used without any hardware restrictions and easily accessed from a computer, point-of-sale station, laptop, or a smartphone. The companies, such as YumaPOS, are delivering terminals with varied functionalities by separating the modules for employee management, loyalty programs, and inventory control. Such factors are positively impacting the market.
 

Market Segmentation, Outlook & Regional Insights: Cloud POS Market

 Cloud POS Market, By Component

The rise in the adoption of software tools to manage several business operations, such as sales, inventory, and customer profiles, will drive the cloud POS market revenue. The businesses are transforming their traditional accounting and data recording techniques to modern software-based technologies. It allows enterprises to improve their service offerings and order management with the help of a detailed overview of the customer information, order, and delivery details. With the increase in massive customer data, the demand for large storage requirement is increasing rapidly, driving the market size. Manufacturers are engaged in developing software solutions that allow businesses to manage their front-end as well as back-end business operations. For instance, eHopper is offering a cloud point-of-sale solution specially developed for small businesses that is used for several applications including order management, inventory, customer management, employee management, and reporting.
 

Cloud POS Market, By Organization Size

The growing adoption of solutions in large enterprises is predicted to accelerate the cloud POS market growth. These businesses are investing highly to incorporate effective payment solutions that will connect all the business departments and their operations in a single platform. Large businesses have multiple operational bases and separate sales & customer management units. Cloud solutions will allow enterprises to access and update the overall collaborated business data such as sales performance, customer statistics, and financial accounts. Such advantages of solutions are assisting organizations to improve their sales & profitability, augmenting the market.
 

Cloud POS Market, By Application

The entertainment & media sector will witness a growth over the forecast timespan. These solutions are allowing businesses to provide an effective payment platform to customers, reducing the trouble of carrying cash. The industry is witnessing an increased adoption of cloud POS systems in several application areas, such as movie theatres, amusement parks, concerts, sports venues, etc., as they are offering flexibility and transparency in the entertainment business. The deployment of these solutions also provides enhanced customer service, helping businesses to improve sales performance. Moreover, in the entertainment & media sector, with the help of these solutions, several types of ticketing can be sold, authorized, managed, and accepted speedily from any hardware device, even if they are purchased online.
 

Cloud POS Market, By Region

Europe cloud POS industry size, by region, 2025 (USD Million)
 

 

The Europe cloud POS market accounted for over 30% of the industry share and is experiencing a high demand owing to the significant proliferation of cloud computing in the region. The system helps process & store sales data online and manage & access sales transactions at any required time. Cloud-based systems use portable devices, which provide real-time updates of the information in the cloud environment. The region is witnessing a rise in the adoption of cloud solutions working great with small business, particularly restaurants. For food establishments, an efficient & fast service is needed as failure to speedily take & serve orders might cause bad reviews and loss in business. The lack of visibility, inaccurate recording of transactions, and wrong charges across sales channels will also hamper retail & e-commerce businesses, necessitating the need for cloud-based POS solutions.
 

Key Players, Recent Developments & Sector Viewpoints: Cloud POS Market


The key players operating in the cloud POS market are Clover Network, Inc., EPOS Now, Lightspeed POS Inc., NCR Corporation, PAR Technology, Revel Systems, Inc., Shopify, Square, Inc., Toast, Inc., TouchBistro Inc., Touchsuite, Upserve, Inc., and Vend. The players are engaged in expanding their business operations and product offerings through mergers & acquisitions with local players. For instance, in February 2019, NCR Corporation announced the acquisition of BEC, a provider of hospitality point-of-sale solutions. Similarly, in May 2019, the company announced the acquisition of Texas POS, a restaurant solution provider. These acquisitions are strengthening the company’s business operations in the hospitality segment.
 

Industry Viewpoint
 

 

The manufacturers in the market are engaged in developing industry-specific solutions to cater to specific business requirements. For instance, NCR Corporation is offering a software platform that enables specialty retailers to track sales & inventory, manage transactions, and process credit card transactions. The solution is specifically built for brick & mortar retailers and can download & install the application directly from Apple iTunes. Similarly, Intuition Systems introduced cloud based IVEPOS specifically for large retail stores and restaurant outlets. Moreover, increasing applications of solutions in several industrial sectors are encouraging manufacturers to invest highly in R&D activities and offer diversified solutions, accelerating the industry growth

Key Insights Covered: Exhaustive Cloud POS Market
1.  Market size (sales, revenue and growth rate) of Cloud POS industry.
2. Global major manufacturers' operating situation (sales, revenue, growth rate and gross margin) of Cloud POS industry.
3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Cloud POS industry.
4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Cloud POS industry.

Research Methodology: Cloud POS Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
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Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.