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Cloud POS Market by Component, Organization Size, Application Area And Region - Global Forecast to 2023

Cloud POS Market: Global Forecast until 2023

  • October 2018
  • 112 pages
  • ID: 5586655
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Growing business mobility, flexibilty, and demand for efficient management of POS terminals across multiple locations to fuel the industry demand for cloud POS solution and services across the world

MarketsandMarkets expects the overall cloud POS market size to grow from ~$1.3B in 2018 to ~$3.7B by 2023, at a compound annual growth rate (CAGR) of 22.7% during the forecast horizon. A fully featured cloud POS system benefits companies 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 increase.

Training, consulting, and integration segment to hold a larger market size during the estimate period

The training, consulting, and integration services contain 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 improvement.

Also, support and maintenance services contain ongoing customer support, feature enhancements, and software upgrades and technical improvements for the existing cloud POS software.

Retail and consumer goods application area to hold the most important industry size during the outlook period

Modern retail POS systems offer 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 rise the basket size and same store sales.

It is expected that cloud-based POS will continue to proliferate in many markets replacing old cash registers with mobile devices running on cloud-based POS.

Asia Pacific (APAC) to hold the biggest sector size and to grow at the maximal rate during the estimate period

Asia-Pacific is forecasted to hold the biggest industry size in the overall cloud POS market in 2018, and the trend is anticipated to continue during the outlook period.Quickly expanding customer base owing to rising prominence of SMEs and the reduction in total cost of ownership is predicted to push the cloud POS market in Asia-Pac.

The booming retail market and emerging infrastructures in the area would further facilitate the rise of the cloud POS market in Asia-Pacific.Furthermore, the economic increase in Asia-Pac is attracting more investments from the cloud POS vendors.

Asia-Pacific is a potential market for significant increase for cloud POS vendors. Therefrom, many firms are expanding their reach in the territory.

In the process of finding out and checking the market value for various segments and sub-segments collected by secondary research, extensive primary audit sessions were managed with the main people.

The breakup of the profiles of the primary participants as follows:

• By Company category: Tier I: 17.0 percent, Tier II: 50.0 percent, and Tier III: 33.0 percent

• By Description: C-suite: 33.0 percent, D-Level: 50.0 percent, and Others: 17.0 percent

• By Area: North America (NA): 33.0 percent, EU: 17.0 percent, and RoW: 50.0 percent

Segment Research

The document breaks down the overall 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 sector by vertical covers retail and wholesale, travel and hospitality, media and entertainment, and transport and logistics. The industry report also includes the industry in the 5 main regions: North America continent, Europe (EU), Asia-Pac, Middle East (ME) and African continent, and Latin America area.

The study benefits the market top players/new sector entrants in these ways:

1. The document breaks down the cloud POS market comprehensively and offers the best approximations of the revenue data for the global market and subsegments across sectors and localities.

2. The analysis benefits partners comprehend the pulse of the sector and offers them with the info on the main market drivers, market restraints, opportunities, and alternatives.

3. The market research also benefits partners better comprehend their players and obtain additional insights to improve their rank in the sector. The competitive outlook section includes recent product launches, alliances, strategic agreements and collaborations, mergers and acquisitions, and business developments associated to the overall cloud POS market.

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