What's Driving Innovation in the Cloud POS Market? Cegid Group, Clover Network, Inc., EPOS Now (ePOS Inc.), Lightspeed POS Inc., NCR Corporation, Oracle, Revel Systems, Inc., Shopify, Square, Inc., Toast, Inc., TouchBistro, Inc., Upserve, Inc., Vend Limit

Rising digitalization and use of e-payment platforms are driving cloud POS market growth. Cloud-based POS is an adaptable, easy to implement and cost-effective solution compared to traditional POS systems. It is integrated with features like inventory management, customer relationship management, loyalty programs and more. For small-to-medium sized businesses (SMBs), a cloud POS system can ensure enhanced customer experience whilst coping up with rapidly upgrading technology.

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With cloud POS, SMBs can quickly, safely and securely access information using their mobile device. Using tools like data monitoring, inventory tracking, transaction history and more, cloud-based systems can offer enhanced profitability and become an invaluable resource for SMBs.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Cegid Group
2. Clover Network, Inc.
3. EPOS Now (ePOS Inc.)
4. Lightspeed POS Inc.
5. NCR Corporation
6. Oracle Corporation
7. Revel Systems, Inc.
8. Shopify
9. Square, Inc.
10. Toast, Inc.
11. TouchBistro, Inc.
12. Upserve, Inc.
13. Vend Limited

Cloud POS market is anticipated to gain impetus from hospitality applications. Hotels and restaurants are investing heavily on upgrading their payment processing technology to boost customer experience and reduce the time per transaction. The rapid growth of the hospitality sector and the introduction of online platforms for easing and accelerating bookings and reservations will offer noteworthy growth opportunities to players in cloud POS market.

Asia Pacific region is slated to be a rather lucrative growth ground due to the high adoption rate of cloud based enterprise POS solutions. The Asia Pacific cloud POS market is projected to experience a growth rate of more than 25 percent over 2019-2025. Increasing urbanization and commercialization in Asia Pacific has given a boost to economic development, encouraging businesses to go digital.

The restaurant sector, in particular, has been highly proactive to deploy advanced cloud POS solutions instead of on-premise POS solutions, for attaining higher staff efficiency, reducing operational costs, and enhancing customer satisfaction.

The rapid growth of food delivery services in the Asia Pacific has added positive momentum to cloud point of sale market growth. Online food delivery companies like Swiggy, allow customers to perform transactions online, saving time and hassle of arranging cash, while amplifying overall ordering experience.

The media & entertainment sector is another significant revenue generating application segment of cloud POS industry. The adoption of cloud based payment system across movie theatres, concerts, sports venues, amusement parks, etc. offers ease of use, flexibility, and transparency to customers.

The growing trend of contactless payments has impacted hospital, education, hospitality, transportation, media & entertainment, real estate, automobile, retail, BFSI, and a slew of other sectors. The boom in contactless payment market, driven by widespread acceptance of e-commerce platforms & mobile banking applications, will translate into substantial gains for cloud POS market.

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Market players are adopting growth tactics like acquisitions, mergers, new product introduction, and geographical expansion to enhance their global footprint. For instance, PAR technology has entered into a strategic partnership with Monkey group, to amplify its restaurant POS service offerings by leveraging Monkey's unmatched expertise in off-premise functionality of the catering cloud POS market.

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