Cloud POS Market Scope
Cloud-based point of sale refer as the systems to process and store sales data online which is opposed to locally on the own computer or on-premise server. This one is the newest trend in software of point of sale, and it is quickly growing its popularity. This system can be accessed through internet directly and it is mostly compatible with most of the POS hardware such as cash drawers, printers, etc. Cloud POS totally eliminates the need for a server and moves the traffic flow to datacentre of someone elseís. The network availability is wireless, so there isnít any need to connect everything with wires. It is less expensive, and convenient because merchants can access customer data from anywhere though an Internet connection
According to AMA, the Global Cloud POS market is expected to see growth rate of 21.4% and may see market size of USD4.13 Million by 2026.
Cloud POS changes how businesses acquire their POS. In the past, they bought their hardware up front, licensed the software and paid per-terminal fees and support/maintenance contract fees. With cloud POS, merchants pay a monthly rental fee for access to the software. The service model is software as a service, not unlike Salesforce or Office365. The merchant simply uses the product. Cloud can offer a lower acquisition and cost model because it doesnít require an expensive, upfront hardware purchase. Some providers are also arranging their fee structure to avoid per-terminal fees and add-ons for connecting third-party services. When the merchant includes hardware in their rental agreement, it gets replaced every few years and included in the monthly cost Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Cloud POS market throughout the predicted period.
Square Inc (United States), Cegid (France), UTC RETAIL (United States), Shop Keep (United States), PAR Technology (United States), Shopify (Canada), B2B Soft (United States), Intuit (United States), Lightspeed (Canada), Oracle (United States), SalonTarget (United States), RetailOps (United States), Celerant Technology (United States), TouchSuite (United States), Clover (United States), Revel Systems (United States) and ERPLY (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Omnico Group (United Kingdom), Diaspark (United States), Teamwork Retail (United States), Jesta I.S. (Canada), One Step Retail Solutions (United States), Phorest (Ireland), Poster POS (Poland) and iiko(Russia).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
The study have segmented the market of Global Cloud POS market , by Application (Retail and Consumer Goods, Travel and Hospitality, Media and Entertainment, Transportation and Logistics and Healthcare) and Region with country level break-up.
On the basis of geography, the market of Cloud POS 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).
Market Leaders and their expansionary development strategies
Square, Inc. has entered into a definitive agreement to acquire Weebly. Square and Weebly will give sellers one cohesive solution to start or grow an omnichannel business
Square, Inc. announced the launch of Square Card, a free business debit Mastercard that helps businesses manage their cash flow by eliminating the time between making a sale and having the funds available to spend
- Growing in the cashless transactions in several countries
- Growing in the mobility and flexibility of business
- Efficient management of POS terminals across the multiple locations
- Improvement in the delivering services
- Growing demand for e-commerce transactions in retail and consumer goods applications
- Skepticism regarding cloud-based offerings
- Lack of standardisation and awareness
Key Target AudienceCloud POS providers, Market operators, Financial institutions, Merchants and merchant acquirers, Technology providers, Mobile network operators, Credit/debit card providers, Cloud solution providers, Security service providers, Professional and managed service providers, System integrators and Technology consultants