Based on component, the market is segmented into solution and services. The cloud POS market is mainly segmented on the basis of component, services, application and organization size. Furthermore, growing acceptance of cloud-based systems in small and medium level enterprises and developments in the retail sector is creating a lucrative opportunity for the market growth. However, data security and privacy concerns related to the use of cloud POS are mainly restraining the market growth. Furthermore, Cloud POS solutions help organizations save operational and functional costs which is further propelling the market growth during the forecast period. Improving workplace productivity, efficiency, and dynamic decision-making ability of organizations and businesses is one of the primary factor driving the market growth. In increasingly business contexts, these are being replaced by the use of a smartphone or mobile phone that uses sophisticated POS software. This leads to a major commercial revolution and, in many cases, outdated heritage systems involving special POS registration machines. One of the reasons that cloud-based sales point (POS) makes such an impact on retail space is that many companies recognize the usefulness and benefits of using mobile devices as modern cash registers. In general, POS refers to the place where purchases happen, for instance, at a cashier's kiosk or at a hostess desk (or side table) at a restaurant. 06, 2021 (GLOBE NEWSWIRE) - The 'Cloud POS Market by Component, Service, Organization Size and Application: Global Opportunity Analysis and Industry Forecast, 2020-2028' report has been added to 's offering.Ĭloud-based point of sale (cloud-based POS) is a type of point-of-sale system where information for transaction processing comes from a remote cloud service.

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