Cloud Point of Sale Market Synopsis:
According to MRFR analysis, the global cloud Point of Sale (POS) market was valued at USD 1,169.8 million in 2018; it is expected to reach USD 4,226.3 million by 2024, growing at a CAGR of 21.0% during the forecast period.

The surge in demand for e-commerce transactions in retail, consumer goods and travel and hospitality sector, highly flexible and scalable, and ease of integration process drives the growth of the cloud POS market during the forecast period. However, a lack of awareness about SaaS-based POS solutions and dependence on conventional on-premise POS systems are likely to limit the market growth during the assessment period.

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Major Key Players:
• Square Inc (US)
• Celerant Technology (US)
• TouchSuite (US)
• Clover (US)
• Revel systems (US)
• ERPLY (US)
• Cegid (France)
• PAR Technology (US)
• Shopify (Canada)
• UTC RETAIL (US)
• ShopKeep (US)
• B2B Soft (US)
• Intuit Inc (US)
• Lightspeed (Canada)
• Oracle Corporation (US)
• SalonTarget (US)
• RetailOps (US)
• Omnico Group (UK)
• Diaspark (US)
• Teamwork Retail (US)
• Jesta I.S. (Retail Process Engineering, LLC) (Canada)
• One Step Retail Solutions (US)
• Phorest (Ireland)

Regional Analysis:
Geographically, the global cloud POS market has been segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. North America accounted for the largest market in 2018 and the US is the leading country with respect to the deployment of POS solutions.

Moreover, Asia-Pacific is expected to be the fastest-growing cloud POS market over the next few years. The government initiatives to boost the retail and e-commerce sector and rapid investments from domestic vendors to develop the cloud-based infrastructure are factors expected to propel the market growth during the forecast period.

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Segmentation:
The global cloud POS market has been segmented based on component, organization size, end user, and region.
By component, the global cloud POS market has been divided into solutions and services. Moreover, the solutions segment expected to have a larger market share while the services segment is projected to register the higher CAGR during the forecast period. The rising need for flexibility and information management solutions across the retail and e-commerce verticals is likely to drive the market. In addition, the services segment has been further divided into implementing and integration services, consulting services, and support and training services.
Based on organization size, the cloud POS system market has been segmented into large enterprises and small and medium-sized enterprises (SMEs). The large enterprises segment accounted for the larger market size in 2018 whereas the SMEs are expected to register the higher CAGR. The market growth for large enterprises is attributed to an increase in the need for lower the additional expenditure on remote servers and licensing software and the rise in the adoption of cloud-based solutions. However, the small enterprises are likely to witness limited adoption of cloud POS solution due to lack of funds, permits, inventory issues, regulations, and tax compliances during the forecast period.
By vertical, the global cloud POS market has been divided into transport and logistics, healthcare, retail and e-commerce, travel and hospitality, and others. The retail and e-commerce segment accounted for the largest market share in 2018 and is expected to dominate the market during the forecast period. The market growth is due to the growth of supermarkets across the emerging economies and the rising adoption of card-based transaction among retail sectors. Whereas, the travel and hospitality segment is expected to register the highest CAGR during the assessment period.

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