The Asia Pacific Cloud POS Market would witness market growth of 25% CAGR during the forecast period (2021-2027).
The cloud POS system makes it possible to handle POS terminals across numerous different locations with ease. Moreover, this approach enhances the quality of service provided to the clients. The demand for the solution is likely to be driven by these advantages. The increased demand for this solution has been fueled by the increasing acceptance of e-commerce transactions in the retail and consumer goods application areas, as well as due to the growing number of cashless transactions. In the last couple of years, advances in technology and research & development activities have made the cloud POS solution safer and more manageable. In addition, this system incorporates advanced machine learning and artificial intelligence technology. To determine customer behavior, the solution analyses sales data. This vital information can be used to deliver unique marketing and promotional suggestions.
The region's burgeoning retail sector and emerging infrastructure will help the cloud POS industry grow faster in APAC. In addition, cloud POS providers are increasing their investments in APAC as a result of the massive economic growth of the region. Many organizations are growing their reach in the APAC region because it is one of the prospective markets for the growth of the cloud POS industry.
The increasing number of online businesses across the region is creating lucrative opportunities for cloud POS providers to expand their business in this region. Various emerging nations like China, which are technological-driven, are creating bright growth prospects for the regional cloud POS market. The growing digitalization across various emerging nations is encouraging the business owner to adopt different solutions and software.
The China market dominated the Asia Pacific Media & Entertainment Cloud POS Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $102.9 million by 2027. The Japan market is exhibiting a CAGR of 25% during (2021 - 2027). Additionally, The India market is anticipated to grow at a CAGR of 26.4% during (2021 - 2027).
Based on Component, the market is segmented into Solution and Services. Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on Application, the market is segmented into Retail & Consumer Goods, Travel & Hospitality, Media & Entertainment, Healthcare, Transportation & Logistics and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Cloud POS Market is Projected to reach USD 9.9 Billion by 2027, at a CAGR of 22.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Oracle Corporation, Shopify, Inc., Square, Inc., Intuit, Inc., Touchsuite, Revel Systems, Omnico Group, Cegid Group, UTC Retail, and Lightspeed POS, Inc.
By Component
By Enterprise Size
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