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Cloud Point of Sale (POS) Global Market Report 2022

·5-min read

Major players in the cloud point of sale (pos) market are PAR Technology Corp, Cegid, Celerant Technology, Clover network Inc, Square Inc, Lightspeed, Intuit Inc, One Step Retail Solutions, ERPLY, Omnico Group, EPOS Now, NCR Corporation, Revel Systems Inc, TouchBistro, Shopkeep Inc, AccuPOS Inc, TouchSuite, Toast Inc, and Vend Limited.

New York, Sept. 09, 2022 (GLOBE NEWSWIRE) -- announces the release of the report "Cloud Point of Sale (POS) Global Market Report 2022" -

The global cloud point of sale (POS) market is expected to grow from $2.84 billion in 2021 to $3.50 billion in 2022 at a compound annual growth rate (CAGR) of 23.23%. The cloud point of sale (POS) market is expected to reach $7.79 billion in 2026 at a CAGR of 22.15%.

The cloud point of sale (POS) market consists of sales of cloud point of sale (POS) solutions and services by entities (organizations, sole traders, and partnerships) that refer to an online point of sale system that enables company owners to accept payments via the internet rather than using a desktop computer.Operators can save the transaction, inventory, employee, and other company data on a remote server using cloud-based POS systems.

The cloud point of sale (POS) allows company owners to run their businesses efficiently, as the transactions are made quicker and safer, and more data is tracked using cloud point of sale (POS) systems.

The main components of cloud point of sale include solutions and services.Solutions refer to rich IoT devices, advanced cloud infrastructure, industry-depth IoT platforms to streamline store operations, and others.

This allows businesses to create an engaging, informed shopping experience by integrating digital, in-store, and back-office retail processes, enhancing consumer engagement and employee efficiency and enabling retail transformation.These systems and solutions are widely used by small, medium and large enterprises.

These solutions and services are used by various industries including retail & e-commerce, restaurant, hospitality, transportation & logistics, entertainment & media, healthcare, and others.

North America was the largest region in the cloud point of sale (POS) market in 2021.Asia-Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in the cloud point of sale (POS) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The cloud point of sale (POS) market research report is one of a series of new reports that provides cloud point of sale (POS) market statistics, including cloud point of sale (POS) industry global market size, regional shares, competitors with a cloud point of sale (POS) market share, detailed cloud point of sale (POS) market segments, market trends and opportunities, and any further data you may need to thrive in the cloud point of sale (POS) industry. This cloud point of sale (POS) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The growing acceptance of digital payments propels the growth of the cloud point-of-sale market.Digital payments refer to payments made through bank transfers, mobile money, and payment cards including debit, credit, and prepaid cards.

Decreasing popularity of cash usage, a growing development of user-friendly payment portals, and government support for transparent payment gateways have boosted the utilization of digital payments across the globe.Increasing acceptance of digital payments is expected to boost utilization of cloud point of sale, as they act as a fundamental entity to accept the payment through the internet.

According to the RBI Annual Report 2021, the percentage of digital transactions in total non-cash retail payments increased from 97.0% in 2019-2020 to 98.5% in 2020-21. Therefore, the growth in digital payments is expected to boost demand for cloud point of sale (POS) during the forecast period.

Technological advancement is a key trend gaining popularity in the cloud point of sale market.The advancement of innovative technologies such as AI, IoT, cloud computing, and big data, among others, had a tremendous influence on the cloud point of sale (POS) in recent years.

The companies operating in the cloud point of sale sector are increasingly focusing on developing technologically advanced systems with greater operational and cost-efficiency. For instance, in August 2021, HungerRush, a Texas-based provider of cloud-based software solutions to the restaurant industry, launched HungerRush 360, a fully-integrated cloud point-of-sale, which offers complete management of restaurant which include digital ordering, customer engagement, delivery, and payment processing.

In April 2022, POS Nation, a USA-based point of sale systems and solutions provider, acquired Bottle POS for an undisclosed amount.With this acquisition, POS Nation can service its network of retail liquor clients with the Bottle POS’s cloud-based POS system, as well as extend Bottle POS sales to liquor merchants seeking an industry-specific solution.

Bottle POS is a US-based cloud POS solutions provider specifically for the liquor industry. Bottle POS’s software is developed for liquor store owners and uses automation and artificial intelligence to automate the most time-consuming aspects of running a liquor shop.

The countries covered in the cloud point of sale (POS) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
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