![]() ![]() It is projected to reach USD 5,520 million, growing at a CAGR of 24.7% during the forecast period. The growing implementation of cloud-based POS programs by restaurant owners and retailers in the Asia-Pacific will also boost the market growth.Įurope is the second-largest region in the cloud PCOS market. As small and medium enterprises face budget and spatial challenges, cloud technology helps store data efficiently without needing to build and expand quality servers. Cloud technology also eliminates the difficulty of establishing on-premise data storage hardware. The growing adoption will enhance the demand for cloud-based POS systems that slow down performance by storing data in a secure environment. Several Asia-Pacific countries, including India, China, and South Korea, have adopted cloud computing technology. The point-of-sale (POS) business in this region will undergo substantial changes due to the rising demand for new touch-screen technology integrated with cloud-based POS software.Īsia-Pacific is the fastest-growing region. This is attributed to the increasing sales of IT hardware, digital hardware, POS systems, cloud subscriptions, mPOS agreements, futuristic handheld devices, tablets, and payment terminals in North America. North America holds the largest market share and is estimated to grow at a CAGR of 24.1% during the forecast period. Improving Workplace Efficiency, Productivity, and Dynamic Decision-Making Ability of Organizations and Businesses Growing Implementation of Cloud-Based Systems in Small and Medium-Sized Enterprises Square, Inc., PAR Technology, Cegid, UTC Retail, Shopkeep, Shopify, B2B Soft, Intuit, Lightspeed, and Oracle North America, Europe, Asia-Pacific, LAME and Rest of the World Revenue Forecast, Competitive Landscape, Growth Factors, and Trendsīy Component, By Organization Size, By Application The advantages of cloud-based card payments and analytics offered by these POS systems may be utilized by business owners with just one machine deployed. Compared to most on-premises workstations, cloud-based POS systems need less equipment and rely less on complex networks. ![]() Owners of small and medium-sized businesses are adopting the technology because cloud-based POS systems are simpler to set up and manage. Growing Acceptance of Cloud-Based Systems in Small and Medium-Sized Enterprises Create Lucrative Market Opportunities Since the vendors and solution providers handle the maintenance, performance, and upkeep of cloud-based POS systems, businesses can operate with a smaller IT team internally, saving on the training and payroll expenses associated with maintaining a full-size IT department as required by the on-premises based POS solutions. ![]() Additionally, the solutions provider will take care of the maintenance and upkeep of cloud-based POS solutions, so business owners won't need to worry about these POS systems operating constantly. Firms only pay for the services they utilize, saving money on the fail-safe mechanisms and conditions for future-proofing that traditional on-premises POS demands. The foundation of cloud-based POS solutions is the idea of easy scaling up and down services can be added or removed at any time by the company depending on their and customers' requirements. ![]()
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