NEW YORK, July 21, 2023 /PRNewswire/ -- The cloud point of sale market size is expected to grow by USD 5,292.67 million from 2022 to 2027, progressing at a CAGR of 19.38% as per the latest Technavio market research report. APAC is going to have lucrative growth during the forecast period. APAC is estimated to account for 41% of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. China and India are key contributors to the market's growth in the region. The retail industry is witnessing growth due to the increasing number of retail outlets, including supermarkets, speciality stores, department stores, and malls. Retailers in the region are adopting cloud-based point-of-sale (POS) systems to enhance the shopping experience by making it more convenient and efficient. As a result, there is a significant growth opportunity for cloud POS solutions in this region. The rising purchasing power of consumers, a large potential consumer base, and the increasing usage of debit and credit cards have boosted the demand for cloud POS solutions, thereby driving the growth of the regional cloud POS market during the forecast period. For more insights on the market share of various regions- Download sample report in MINUTES
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Cloud Point of Sale Market: Growing application of cloud point of sale in retail to drive growth
The growing application of cloud point of sale in retail is a major factor driving the market growth. In the retail industry, point-of-sale solutions provide retailers with an operating system for sales transactions, convenient payment methods, and the ability to manage customer data effectively. The increasing adoption of digital transformation, e-commerce, and cashless payments has created a need for advanced features in point-of-sale software to manage both online and in-store sales seamlessly. Furthermore, retailers are facing various challenges such as the impact of the COVID-19 pandemic, labour shortages, supply chain disruptions, and rising customer expectations. To address these challenges, vendors are introducing cloud-based point-of-sale solutions tailored specifically for retailers. These solutions offer enhanced capabilities and flexibility, including AI and machine learning, to provide exceptional in-store experiences for customers. For instance, a partnership between NCR and Alphabet Inc. (Google Cloud) aims to bring advanced platforms and cloud functionalities to retailers worldwide. This collaboration will empower retailers with top-tier tools and flexibility, driving the growth of the market in focus during the forecast period.
Cloud Point of Sale Market: Continuous Development Of New Solutions
Continuous development of new solutions is an emerging trend shaping market growth. Continuous innovation and development of new solutions by providers is a key trend in the cloud point-of-sale market. Leading vendors introducing sophisticated solutions motivate other players to enhance their offerings to remain competitive. For instance, NCR introduced NCR Aloha Cloud in May 2022, offering a cloud-based point-of-sale solution with an enhanced user interface, compact handheld devices, and streamlined payment processing. Similarly, in January 2021, Block launched Square for Retail, a comprehensive point-of-sale system aimed at improving retailers' operations and overall business management. These developments are expected to be significant drivers for the global cloud point-of-sale market's growth during the forecast period.
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Some of the key Cloud Point Of Sale Market Players:
The cloud point of sale market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
ARBA Retail Systems, Dotykacka CR s.r.o., Bindo Labs Inc., CDW Corp., Intuit Inc., Lightspeed Commerce Inc., Oracle Corp., PAR Technology Corp., Paychex Inc., Revel Systems Inc., Shopify Inc., Teraoka Seiko Co. Ltd., TouchBistro Inc., TRANSACT LLC, Block Inc., Epicor Software Corp., Fiserv Inc., NCR Corp., Toast Inc., and Poster Pos Inc
This market research report segments the cloud point of sale market by application (Retail and consumer goods, Travel and hospitality, Media and entertainment, Transport and logistics, and Healthcare), component (Solution and Services), and geography (APAC, North America, Europe, South America, and Middle East and Africa).
- The market share growth by the retail and consumer goods segment will be significant during the forecast period. The retail and consumer goods segment of the market primarily involves the adoption of cloud point-of-sale solutions by various retail establishments, including grocery stores, department stores, and speciality stores. These solutions enable these establishments to efficiently process sales, manage inventory, and accept payments from customers. With the increasing shift towards e-commerce in recent years, cloud point-of-sale solutions have become instrumental in facilitating online transactions. The continued growth in the use of cloud point-of-sale solutions in the retail segment is driven by businesses' desire to enhance operational efficiency and provide an improved customer experience. These factors are expected to be the key drivers for the growth of the global cloud point-of-sale market during the forecast period.
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Cloud Point of Sale Market Scope |
|
Report Coverage |
Details |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 19.38% |
Market growth 2023-2027 |
USD 5,292.67 million |
Market structure |
Fragmented |
YoY growth 2022-2023 (%) |
18.4 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 41% |
Key countries |
US, Canada, China, Japan, and UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
ARBA Retail Systems, Dotykacka CR s.r.o., Bindo Labs Inc., CDW Corp., Intuit Inc., Lightspeed Commerce Inc., Oracle Corp., PAR Technology Corp., Paychex Inc., Revel Systems Inc., Shopify Inc., Teraoka Seiko Co. Ltd., TouchBistro Inc., TRANSACT LLC, Block Inc., Epicor Software Corp., Fiserv Inc., NCR Corp., Toast Inc., and Poster Pos Inc |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
- Exhibit 06: Executive Summary – Chart on Market Segmentation by Component
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 13: Market segments
- 3.3 Market size 2022
- 3.4 Market outlook: Forecast for 2022-2027
- Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
- Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
- Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
- Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
- 4.1 Global cloud point of sale market 2017 - 2021
- Exhibit 18: Historic Market Size – Data Table on Global cloud point of sale market 2017 - 2021 ($ million)
- 4.2 Application Segment Analysis 2017 - 2021
- Exhibit 19: Historic Market Size – Application Segment 2017 - 2021 ($ million)
- 4.3 Component Segment Analysis 2017 - 2021
- Exhibit 20: Historic Market Size – Component Segment 2017 - 2021 ($ million)
- 4.4 Geography Segment Analysis 2017 - 2021
- Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)
- 4.5 Country Segment Analysis 2017 - 2021
- Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)
5 Five Forces Analysis
- 5.1 Five forces summary
- Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
- 5.2 Bargaining power of buyers
- Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
- 5.3 Bargaining power of suppliers
- Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
- 5.4 Threat of new entrants
- Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
- 5.5 Threat of substitutes
- Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
- 5.6 Threat of rivalry
- Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
- 5.7 Market condition
- Exhibit 29: Chart on Market condition - Five forces 2022 and 2027
6 Market Segmentation by Application
- 6.1 Market segments
- Exhibit 30: Chart on Application - Market share 2022-2027 (%)
- Exhibit 31: Data Table on Application - Market share 2022-2027 (%)
- 6.2 Comparison by Application
- Exhibit 32: Chart on Comparison by Application
- Exhibit 33: Data Table on Comparison by Application
- 6.3 Retail and consumer goods - Market size and forecast 2022-2027
- Exhibit 34: Chart on Retail and consumer goods - Market size and forecast 2022-2027 ($ million)
- Exhibit 35: Data Table on Retail and consumer goods - Market size and forecast 2022-2027 ($ million)
- Exhibit 36: Chart on Retail and consumer goods - Year-over-year growth 2022-2027 (%)
- Exhibit 37: Data Table on Retail and consumer goods - Year-over-year growth 2022-2027 (%)
- 6.4 Travel and hospitality - Market size and forecast 2022-2027
- Exhibit 38: Chart on Travel and hospitality - Market size and forecast 2022-2027 ($ million)
- Exhibit 39: Data Table on Travel and hospitality - Market size and forecast 2022-2027 ($ million)
- Exhibit 40: Chart on Travel and hospitality - Year-over-year growth 2022-2027 (%)
- Exhibit 41: Data Table on Travel and hospitality - Year-over-year growth 2022-2027 (%)
- 6.5 Media and entertainment - Market size and forecast 2022-2027
- Exhibit 42: Chart on Media and entertainment - Market size and forecast 2022-2027 ($ million)
- Exhibit 43: Data Table on Media and entertainment - Market size and forecast 2022-2027 ($ million)
- Exhibit 44: Chart on Media and entertainment - Year-over-year growth 2022-2027 (%)
- Exhibit 45: Data Table on Media and entertainment - Year-over-year growth 2022-2027 (%)
- 6.6 Transport and logistics - Market size and forecast 2022-2027
- Exhibit 46: Chart on Transport and logistics - Market size and forecast 2022-2027 ($ million)
- Exhibit 47: Data Table on Transport and logistics - Market size and forecast 2022-2027 ($ million)
- Exhibit 48: Chart on Transport and logistics - Year-over-year growth 2022-2027 (%)
- Exhibit 49: Data Table on Transport and logistics - Year-over-year growth 2022-2027 (%)
- 6.7 Healthcare - Market size and forecast 2022-2027
- Exhibit 50: Chart on Healthcare - Market size and forecast 2022-2027 ($ million)
- Exhibit 51: Data Table on Healthcare - Market size and forecast 2022-2027 ($ million)
- Exhibit 52: Chart on Healthcare - Year-over-year growth 2022-2027 (%)
- Exhibit 53: Data Table on Healthcare - Year-over-year growth 2022-2027 (%)
- 6.8 Market opportunity by Application
- Exhibit 54: Market opportunity by Application ($ million)
- Exhibit 55: Data Table on Market opportunity by Application ($ million)
7 Market Segmentation by Component
- 7.1 Market segments
- Exhibit 56: Chart on Component - Market share 2022-2027 (%)
- Exhibit 57: Data Table on Component - Market share 2022-2027 (%)
- 7.2 Comparison by Component
- Exhibit 58: Chart on Comparison by Component
- Exhibit 59: Data Table on Comparison by Component
- 7.3 Solution - Market size and forecast 2022-2027
- Exhibit 60: Chart on Solution - Market size and forecast 2022-2027 ($ million)
- Exhibit 61: Data Table on Solution - Market size and forecast 2022-2027 ($ million)
- Exhibit 62: Chart on Solution - Year-over-year growth 2022-2027 (%)
- Exhibit 63: Data Table on Solution - Year-over-year growth 2022-2027 (%)
- 7.4 Services - Market size and forecast 2022-2027
- Exhibit 64: Chart on Services - Market size and forecast 2022-2027 ($ million)
- Exhibit 65: Data Table on Services - Market size and forecast 2022-2027 ($ million)
- Exhibit 66: Chart on Services - Year-over-year growth 2022-2027 (%)
- Exhibit 67: Data Table on Services - Year-over-year growth 2022-2027 (%)
- 7.5 Market opportunity by Component
- Exhibit 68: Market opportunity by Component ($ million)
- Exhibit 69: Data Table on Market opportunity by Component ($ million)
8 Customer Landscape
- 8.1 Customer landscape overview
- Exhibit 70: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
- 9.1 Geographic segmentation
- Exhibit 71: Chart on Market share by geography 2022-2027 (%)
- Exhibit 72: Data Table on Market share by geography 2022-2027 (%)
- 9.2 Geographic comparison
- Exhibit 73: Chart on Geographic comparison
- Exhibit 74: Data Table on Geographic comparison
- 9.3 APAC - Market size and forecast 2022-2027
- Exhibit 75: Chart on APAC - Market size and forecast 2022-2027 ($ million)
- Exhibit 76: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
- Exhibit 77: Chart on APAC - Year-over-year growth 2022-2027 (%)
- Exhibit 78: Data Table on APAC - Year-over-year growth 2022-2027 (%)
- 9.4 North America - Market size and forecast 2022-2027
- Exhibit 79: Chart on North America - Market size and forecast 2022-2027 ($ million)
- Exhibit 80: Data Table on North America - Market size and forecast 2022-2027 ($ million)
- Exhibit 81: Chart on North America - Year-over-year growth 2022-2027 (%)
- Exhibit 82: Data Table on North America - Year-over-year growth 2022-2027 (%)
- 9.5 Europe - Market size and forecast 2022-2027
- Exhibit 83: Chart on Europe - Market size and forecast 2022-2027 ($ million)
- Exhibit 84: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
- Exhibit 85: Chart on Europe - Year-over-year growth 2022-2027 (%)
- Exhibit 86: Data Table on Europe - Year-over-year growth 2022-2027 (%)
- 9.6 South America - Market size and forecast 2022-2027
- Exhibit 87: Chart on South America - Market size and forecast 2022-2027 ($ million)
- Exhibit 88: Data Table on South America - Market size and forecast 2022-2027 ($ million)
- Exhibit 89: Chart on South America - Year-over-year growth 2022-2027 (%)
- Exhibit 90: Data Table on South America - Year-over-year growth 2022-2027 (%)
- 9.7 Middle East and Africa - Market size and forecast 2022-2027
- Exhibit 91: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
- Exhibit 92: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
- Exhibit 93: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
- Exhibit 94: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
- 9.8 US - Market size and forecast 2022-2027
- Exhibit 95: Chart on US - Market size and forecast 2022-2027 ($ million)
- Exhibit 96: Data Table on US - Market size and forecast 2022-2027 ($ million)
- Exhibit 97: Chart on US - Year-over-year growth 2022-2027 (%)
- Exhibit 98: Data Table on US - Year-over-year growth 2022-2027 (%)
- 9.9 China - Market size and forecast 2022-2027
- Exhibit 99: Chart on China - Market size and forecast 2022-2027 ($ million)
- Exhibit 100: Data Table on China - Market size and forecast 2022-2027 ($ million)
- Exhibit 101: Chart on China - Year-over-year growth 2022-2027 (%)
- Exhibit 102: Data Table on China - Year-over-year growth 2022-2027 (%)
- 9.10 Japan - Market size and forecast 2022-2027
- Exhibit 103: Chart on Japan - Market size and forecast 2022-2027 ($ million)
- Exhibit 104: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
- Exhibit 105: Chart on Japan - Year-over-year growth 2022-2027 (%)
- Exhibit 106: Data Table on Japan - Year-over-year growth 2022-2027 (%)
- 9.11 UK - Market size and forecast 2022-2027
- Exhibit 107: Chart on UK - Market size and forecast 2022-2027 ($ million)
- Exhibit 108: Data Table on UK - Market size and forecast 2022-2027 ($ million)
- Exhibit 109: Chart on UK - Year-over-year growth 2022-2027 (%)
- Exhibit 110: Data Table on UK - Year-over-year growth 2022-2027 (%)
- 9.12 Canada - Market size and forecast 2022-2027
- Exhibit 111: Chart on Canada - Market size and forecast 2022-2027 ($ million)
- Exhibit 112: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
- Exhibit 113: Chart on Canada - Year-over-year growth 2022-2027 (%)
- Exhibit 114: Data Table on Canada - Year-over-year growth 2022-2027 (%)
- 9.13 Market opportunity by geography
- Exhibit 115: Market opportunity by geography ($ million)
- Exhibit 116: Data Tables on Market opportunity by geography ($ million)
10 Drivers, Challenges, and Trends
- 10.1 Market drivers
- 10.2 Market challenges
- 10.3 Impact of drivers and challenges
- Exhibit 117: Impact of drivers and challenges in 2022 and 2027
- 10.4 Market trends
11 Vendor Landscape
- 11.1 Overview
- 11.2 Vendor landscape
- Exhibit 118: Overview on Criticality of inputs and Factors of differentiation
- 11.3 Landscape disruption
- Exhibit 119: Overview on factors of disruption
- 11.4 Industry risks
- Exhibit 120: Impact of key risks on business
12 Vendor Analysis
- 12.1 Vendors covered
- Exhibit 121: Vendors covered
- 12.2 Market positioning of vendors
- Exhibit 122: Matrix on vendor position and classification
- 12.3 ARBA Retail Systems
- Exhibit 123: ARBA Retail Systems - Overview
- Exhibit 124: ARBA Retail Systems - Product / Service
- Exhibit 125: ARBA Retail Systems - Key offerings
- 12.4 Bindo Labs Inc.
- Exhibit 126: Bindo Labs Inc. - Overview
- Exhibit 127: Bindo Labs Inc. - Product / Service
- Exhibit 128: Bindo Labs Inc. - Key offerings
- 12.5 Block Inc.
- Exhibit 129: Block Inc. - Overview
- Exhibit 130: Block Inc. - Business segments
- Exhibit 131: Block Inc. - Key offerings
- Exhibit 132: Block Inc. - Segment focus
- 12.6 CDW Corp.
- Exhibit 133: CDW Corp. - Overview
- Exhibit 134: CDW Corp. - Business segments
- Exhibit 135: CDW Corp. - Key offerings
- Exhibit 136: CDW Corp. - Segment focus
- 12.7 Fiserv Inc.
- Exhibit 137: Fiserv Inc. - Overview
- Exhibit 138: Fiserv Inc. - Business segments
- Exhibit 139: Fiserv Inc. - Key offerings
- Exhibit 140: Fiserv Inc. - Segment focus
- 12.8 Intuit Inc.
- Exhibit 141: Intuit Inc. - Overview
- Exhibit 142: Intuit Inc. - Business segments
- Exhibit 143: Intuit Inc. - Key offerings
- Exhibit 144: Intuit Inc. - Segment focus
- 12.9 Lightspeed Commerce Inc.
- Exhibit 145: Lightspeed Commerce Inc. - Overview
- Exhibit 146: Lightspeed Commerce Inc. - Product / Service
- Exhibit 147: Lightspeed Commerce Inc. - Key offerings
- 12.10 NCR Corp.
- Exhibit 148: NCR Corp. - Overview
- Exhibit 149: NCR Corp. - Business segments
- Exhibit 150: NCR Corp. - Key news
- Exhibit 151: NCR Corp. - Key offerings
- Exhibit 152: NCR Corp. - Segment focus
- 12.11 Oracle Corp.
- Exhibit 153: Oracle Corp. - Overview
- Exhibit 154: Oracle Corp. - Business segments
- Exhibit 155: Oracle Corp. - Key news
- Exhibit 156: Oracle Corp. - Key offerings
- Exhibit 157: Oracle Corp. - Segment focus
- 12.12 Paychex Inc.
- Exhibit 158: Paychex Inc. - Overview
- Exhibit 159: Paychex Inc. - Product / Service
- Exhibit 160: Paychex Inc. - Key offerings
- 12.13 Poster Pos Inc
- Exhibit 161: Poster Pos Inc - Overview
- Exhibit 162: Poster Pos Inc - Product / Service
- Exhibit 163: Poster Pos Inc - Key offerings
- 12.14 Revel Systems Inc.
- Exhibit 164: Revel Systems Inc. - Overview
- Exhibit 165: Revel Systems Inc. - Product / Service
- Exhibit 166: Revel Systems Inc. - Key offerings
- 12.15 Shopify Inc.
- Exhibit 167: Shopify Inc. - Overview
- Exhibit 168: Shopify Inc. - Product / Service
- Exhibit 169: Shopify Inc. - Key offerings
- 12.16 Toast Inc.
- Exhibit 170: Toast Inc. - Overview
- Exhibit 171: Toast Inc. - Product / Service
- Exhibit 172: Toast Inc. - Key offerings
- 12.17 TouchBistro Inc.
- Exhibit 173: TouchBistro Inc. - Overview
- Exhibit 174: TouchBistro Inc. - Product / Service
- Exhibit 175: TouchBistro Inc. - Key offerings
13 Appendix
- 13.1 Scope of the report
- 13.2 Inclusions and exclusions checklist
- Exhibit 176: Inclusions checklist
- Exhibit 177: Exclusions checklist
- 13.3 Currency conversion rates for US$
- Exhibit 178: Currency conversion rates for US$
- 13.4 Research methodology
- Exhibit 179: Research methodology
- Exhibit 180: Validation techniques employed for market sizing
- Exhibit 181: Information sources
- 13.5 List of abbreviations
- Exhibit 182: List of abbreviations
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
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Jesse Maida
Media & Marketing Executive
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SOURCE Technavio
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