The cloud POS market is projected to observe substantial growth through the forthcoming timeframe owing to increasing adoption of software solutions to manage several business operations, growing demand for improving customer experience among SMEs, and rapid expansion of retail & e-commerce giants.

A cloud POS is a kind of web-based point-of-sale-system wherein information regarding transaction processing comes through a remote cloud service. Cloud POS systems usually process all transactions as well as updates online instead of a local computer. In general terms, point of sale is a place where transactions happen for example, at a hostess desk or side table or cashier's kiosk at a restaurant.

Cloud POS are sometimes also referred as EPOS or electronic point of sale mainly to highlight the fact that the software operates on electronic equipment. The backend POS interface could be accessed merely via any web browser while, the front-end POS interface is made for being used on internet-enabled devices such as touchscreen monitors, smartphones, and tablets.

The cloud POS market is bifurcated into different segments in terms of component, organization size, application, and regional landscape.

Based on component, the cloud POS market is categorized into service and software. Among these, software segment will witness high growth over the coming years owing to the increasing adoption of software solutions to manage several business operations, like inventory, sales and customer data.

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With respect to organization size, the cloud POS market is divided into large enterprises and SMEs. The growing demand for improving customer experience among small & medium enterprises segment is driving the adoption of cloud POS to provide fast, flexible and secure payment methods to customers.

Most POS in SME business supports several languages, thereby helping merchants from different language backgrounds to work efficiently and smoothly, particularly in tier II and III, and other remote places.

In terms of application, the overall cloud POS market is classified into healthcare, entertainment & media, transportation & logistics, hospitality, restaurant, and retail & E-commerce. Among these, transportation & logistics segment will witness tremendous gains over the coming year. This growth is ascribed to the increasing adoption of cloud POS software for managing stock, order & deliveries, increasing sales, and minimizing employee count.

From a regional frame of reference, cloud POS market in Middle East & Africa will witness fast growth owing to the rapid expansion of retail & e-commerce giant across the region. This has further necessitated the need for cloud-based POS solutions for improving business processes and driving profitability.