Ocean View, DE -- (SBWIRE) -- 05/20/2020 -- Cloud POS market is gaining massive proceeds from the restaurant and hospitality sector. A restaurant cloud POS system is an integral part of daily operations as it helps conduct tasks like billing, ticketing, tax management, invoicing and more. The system aims on delivering superior customer experience and cost control while further growing store revenues and overall profitability.

Cloud POS provides data security – sensitive data like sales and inventory details are never stored on local hard drive, like traditional systems, rather, the data gets updated to the server. According to a research report by Global Market Insights, Inc., cloud POS market is all set to surpass USD 6 billion by 2025.

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Cloud based systems are creating a stir worldwide on account of their seamless connectivity across various devices and hassle-free usability. The constantly evolving cloud technology and the increasing number of devices being connected to the internet have crafted a platform for the rising number of cloud POS users.

Other than just seamless connectivity, the technology provides several advantages over the traditional POS systems. For example, retailers using the traditional POS systems vouch for the difference in the convenience factor brought in by the cloud POS, as it simplifies the whole process from the order acceptance to bill generation and delivery tracking.

The internet is the core requirement of Cloud POS systems, as it offers connectivity between the devices running the Cloud POS system and the server, where the information is stored and retrieved in real time. The vast expanse of network technologies and increased data speeds have aided the shift from traditional POS systems to the cloud POS systems, enabling Cloud POS market growth.

Growing demand and use of e-payment transactions will augment the Cloud POS market share in the restaurant sector. Furthermore, according to a recent study, the number of credit card payments have reportedly grown by 10.2% in the year 2016 to 37.3 billion with a total value of $3.27 trillion, while digital wallets such as Apple Pay and Android Pay are expected represent $503 billion in transactions by 2020. These instances aptly prove that cloud POS market is here to stay.

Restaurants require to regularly maintain the demand & supply of stock units to avoid any situation of operational downtime. So, the application of point-of-sale systems for inventory management is a growing trend among the restaurant owners. The cloud POS works as an all-in-one solution for the multiple tasks the restaurants perform like stock management, order management, billing, payments and customer information.

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Key Companies in Cloud POS market: - Cegid Group, Celerant Technology, Clover Network, Inc., EPOS Now (ePOS Inc.), ERPLY, Future POS, Kounta Holdings Pty Limited, Lightspeed POS Inc., NCR Corporation, Oracle Corporation, PAR Technology, Phorest Salon Software, Revel Systems, Inc., Shopify, Shopkeep, Inc., Square, Inc., Toast, Inc., TouchBistro, Inc., Upserve, Inc., Vend Limited

The infiltration of food delivery apps in the Cloud POS market such as such as Zomato, Swiggy, and Food Panda has increased the customer base for restaurants, triggering the high adoption of cloud POS systems. The Asia Pacific region, in particular, observes a substantially high adoption of restaurant POS solutions, given the increasing number of users for such apps. As per estimates, APAC Cloud POS market will depict a CAGR of over 27% between 2019-2025.

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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