Global Cloud Point of Sale Market Overview:
Cloud Point of Sale is a Software as a Service (SaaS) platform or a web based point of sale platform. Which is a revolutionary point of sale solution as the data on such platforms can be accessed from anywhere. This also reduces the cost of setup and maintenance which is far lower than legacy POS solutions. Cloud-based POS solutions also enhance customer satisfaction and help in efficient small business operations. Today Cloud-based POS is widely gaining popularity with the retail, and restaurant industry being the biggest users, and other users being healthcare, hospitality, etc. Geographically, North America is the dominant most market for Cloud-based POS solutions but slowly and steadily, Europe, as well as the Asia Pacific, are catching up. Some of the players profiled in the study are Celerant Technology (United States), Lightspeed (United States), NCR Corporation (United States), Newtek Payment Systems (United States), Toast, Inc. (United States), Square, Inc. (United States), Shopify Inc. (Canada), Oracle Corporation (United States), TouchBistro, Inc. (Canada) and Intuit Inc. (United States).
On the basis of geography, the market of Cloud Point of Sale has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Components, the sub-segment i.e. Software will boost the Cloud Point of Sale market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Organization Size, the sub-segment i.e. Small and Medium Enterprises (SMEs) will boost the Cloud Point of Sale market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End Use, the sub-segment i.e. Healthcare Industry will boost the Cloud Point of Sale market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Growth Drivers
- Easy Convenience both for the Consumers and the Vendors
- Low Cost of Initial Setup
- Rising Online Payment Based Mechanisms
- Cost is Cheaper than Legacy POS Solutions
Influencing Trend
- Increased Investment and Focus on Cloud Encryption
Restraints
- Data Breaches and Cyber Attacks on Clouds is a Major Concern
Opportunities
- Proper Advertisement Techniques should be Applied to Educate Businesses about Cloud-based Point of Sale
- Use of Data Analytics Tools such as Machine Learning will enhance the Vendor’s Interest in the Cloud-based POS solutions
Challenges
- Less Skilled People in Developing Countries to Understand Operability
- Pre IT Infrastructure in Developing Countries
Key Market Developments:
In 2020, Newtek Business Services Corp., a leading business development company announced the launch of a website for its subsidiary Newtek Payment Systems. The Company which will offer Cloud Based Point of Sale Solutions
Target Audience:
Cloud Point of Sale Providers, New Entrants/Investors, Venture Capitalists and Private Equity Firms, End-Use Industries and Others
Major Objectives Focused through this Study
To define, describe, and forecast the Global Cloud Point of Sale market on the basis of product [Mobile Point of Sale and Fixed Point of Sale] , application [], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Cloud Point of Sale market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Cloud Point of Sale industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization:
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Players which are also part of the research are Revel Systems (United States), Phorest Salon Software (Ireland) and Torqus (India).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Cloud Point of Sale market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.