Market Research Report
Cloud POS Market by Component, Organization Size, Application Area (Retail and Consumer Goods, Travel and Hospitality, Transportation and Logistics, Media and Entertainment, and Healthcare), and Region - Global Forecast to 2023
|Published by||MarketsandMarkets||Product code||718229|
|Published||Content info||112 Pages
Delivery time: 1-2 business days
|Cloud POS Market by Component, Organization Size, Application Area (Retail and Consumer Goods, Travel and Hospitality, Transportation and Logistics, Media and Entertainment, and Healthcare), and Region - Global Forecast to 2023|
|Published: October 3, 2018||Content info: 112 Pages||
"Increasing business mobility, flexibilty, and demand for efficient management of POS terminals across multiple locations to fuel the demand for cloud POS solution and services across the globe"
MarketsandMarkets expects the global cloud POS market size to grow from USD 1.34 billion in 2018 to USD 3.73 billion by 2023, at a CAGR of 22.7% during the forecast period. A fully featured cloud POS system helps enterprises in inventory tracking, analytics, sales monitoring and reporting, employee management, customer data management, mobile connectivity, and robust integrations. Concerns over security for cloud-based offerings may restrain the market growth.
The training, consulting, and integration services include offering expert advisory services on queries related to cloud POS. Integration and software deployment services play an important role in the cloud POS market by providing custom product development. Moreover, support and maintenance services include ongoing customer support, feature enhancements, and software upgrades and technical improvements for the existing cloud POS software.
Modern retail POS systems provide unified experience, real-time data, and omnichannel execution to users. They allow the user to associate with the technology and give real-time inventory visibility, history of purchases and online browsing, and thus allowing the user to increase the basket size and same store sales. It is expected that cloud-based POS will continue to proliferate in many industries replacing old cash registers with mobile devices running on cloud-based POS.
APAC is estimated to hold the largest market size in the global cloud POS market in 2018, and the trend is expected to continue during the forecast period. Rapidly expanding customer base owing to increasing prominence of SMEs and the reduction in total cost of ownership is expected to drive the cloud POS market in APAC. The booming retail sector and emerging infrastructures in the region would further facilitate the growth of the cloud POS market in APAC. Moreover, the economic growth in APAC is attracting more investments from the cloud POS vendors. APAC is a potential market for significant growth for cloud POS vendors. Hence, many companies are expanding their reach in the region.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with the key people. The breakup of the profiles of the primary participants as follows:
The report profiles the following key vendors:
The report segments the global cloud POS market by service type (training, consulting, integration; and support and maintenance). The tier type includes Tier 1, Tier 2 and Tier 3. The market by vertical covers retail and wholesale, travel and hospitality, media and entertainment, and transport and logistics. The report also covers the market in the 5 major regions: North America, Europe, APAC, Middle East and Africa (MEA), and Latin America.
The report helps the market leaders/new entrants in the following ways:
*Details on Business Overview, Solutions Offered, Recent Developments, SWOT Analysis, and MNM View might not be captured in case of unlisted companies.