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What is the Expected Market Size and Growth Rate for the Global Cloud Point of Sale (POS) Market?
From $6.9 billion in 2024, the cloud point of sale (POS) market is set to grow to $8.37 billion in 2025, showcasing an impressive compound annual growth rate (CAGR) of 21.3%. This robust growth can be attributed to shifts towards cloud computing, mobile commerce, omnichannel retailing, and claims of enhanced cost efficiency and scalability, along with the advantage of rapid deployment and updates. Furthermore, integrating with other cloud services has added impetus to the market growth.
The momentum is expected to continue, with the cloud point of sale (POS) market projected to reach $20.67 billion in 2029. The forecast period growth, at a CAGR of 25.3%, owes to increasing emphasis on data security and privacy, growing adoption of mobile payments and contactless transactions, business growth facilitated by scalability and flexibility, and the opportunities provided by integration with e-commerce platforms and global expansion of businesses.
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What is Driving the Cloud Point of Sale (POS) Market?
The growth of the cloud point-of-sale market is being fuelled by growing acceptance of digital payments. Digital payments include transactions made through bank transfers, mobile money, and payment cards. The decreased popularity of cash usage, the development of user-friendly payment portals, and government support for transparent payment gateways have all contributed to the increased use of digital payments across the globe. This increase is set to boost the utilization of cloud point of sale, which is fundamental to accepting internet-based payments.
What are the Critical Segments in the Cloud Point of Sale (POS) Market?
The cloud point of sale (POS) market can be segmented by:
1) Component: Solution, Services
2) Organization Size: Small and Medium Enterprises, Large Enterprises
3) Application: Retail & E-Commerce, Restaurant, Hospitality, Transportation & Logistics, Entertainment & Media, Healthcare, Other Applications
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Who are the Major Players in the Cloud Point of Sale (POS) Market?
Major companies operating in the cloud point of sale (POS) market include PAR Technology Corp., Cegid Group, Celerant Technology, Clover network Inc, Square Inc., Toast Inc., Lightspeed POS Inc., Revel Systems Inc., ShopKeep, Vend Limited, TouchBistro Inc., Upserve Inc., NCR Corporation, Heartland Payment Systems LLC, Shopify Inc., Oracle Corporation, Amazon Web Services Inc., Salesforce.com Inc., SAP SE, IBM Corporation, Microsoft Corporation, Google LLC, First Data Corporation, Global Payments Inc., Ingenico Group, Verifone Inc., Adyen N.V., Worldpay Inc., Fiserv Inc., and Elavon Inc.
What are the Emerging Trends in The Cloud Point of Sale (POS) Market?
Technological advancement is a key trend gaining popularity in the cloud point of sale market. Companies operating in the sector are focusing on developing technologically advanced systems that offer improved operational and cost-efficiency. For instance, Toast, Inc., in August 2022, announced the launch of new updates to its Toast POS System – a fully integrated platform designed to enhance restaurant operations, including features for digital ordering, guest management, kitchen display systems, and payment processing.
Which Region Leads in The Cloud Point of Sale (POS) Market?
In 2024, North America held the largest share of the cloud point of sale (POS) market. However, Asia-Pacific is expected to be the fastest-growing region in the forecast period.
What Does The Cloud Point of Sale (POS) Market Report 2025 Offer?
The Cloud Point of Sale (POS) Market research report from The Business Research Company presents a detailed analysis on global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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