An mPOS (mobile point of sale) is
a tablet, smartphone or a wireless equipment which performs operations of cash
register or electronic point sale terminal. Its execution allows sales and
service sectors to carry out monetary deals in place and enhance user
experience. It can be inexpensive allowing small firms to carry out business
deals instead of investing in an electronic register.
Based on the software, an mPOS can
function as a separate equipment which is normally connected to business bank
account or can be a unified part of a bigger POS (point of sale) system.
As per the reports published by Global
Market Insights, global mobile POS terminals market size contribution was
$11.55 billion in 2015 and is projected to record a CAGR of about 19.1% during
forecast timeline. Rise in inexpensive wireless communication techniques is stimulating
industry growth during forecast timeline.
Industry Trends
Rising demand from end use
sectors like hospitality sector and retail sector is expected to boost industry
expansion. mPOS devices are used in retail as well as hospitality sectors for
enhancing user experience by preventing delays in processing of payments.
Global (mPOS) Mobile POS
terminals industry makes use of wireless devices to pay for products and
services. Utilizing wireless systems can modernize many procedures like rental
cabs, restaurants and purchasing food in stores. They help in reducing cost per
each transaction in telecommunications industry by utilizing Wi-Fi devices, CDMA
technologies and GPRS systems.
Brazil Mobile POS Terminals Market size, by application, 2012 - 2023 (USD Billion)
Global acceptance of the
equipments along with compatible software provide firms with portable sale
convenience. Furthermore, these wireless systems enhance worker efficiency and
eradicates time delay in sales and services.
However, data security concern is
a main challenge that has badly hindered the global (mPOS)mobile POS terminals
market expansion and is also predicted to remain as an area of concern even
during forecast period.
Component Trends
Global (mPOS)mobile POS terminals
market is segmented into software components and hardware components.
Software components segment is
projected to exceed $9.6 billion and register a CAGR of higher than 22.1% by
end of forecast timeline.
Intelligent and proficient software
synchronizes/co-ordinates screen terminal and barcode scanner functions to
restore data as well as backup. It can also handle customer loyalty programs
and detect purchasing patterns. All these factors are predicted to boost
segment demand and growth.
Hardware segment is projected to record
CAGR of about 18.1% during forecast timeline.
Application Trends
Global (mPOS) mobile POS terminals
market is segmented into retail application, entertainment, healthcare, restaurant,
warehouse and hospitality.
Retail application segment contributed
higher than 30.1% to global industry share of 2015 in terms of revenue and is
anticipated to record CAGR of about 17.9% during forecast timeline.
Entertainment segment is anticipated
to touch revenue mark of about $4.36 billion by end of forecast timeline. It
consists of amusement parks, casinos and tourism and all of these require
robust mPOS terminal systems to attract customers.
Regional Trends
Global (mPOS) mobile POS
terminals market is segmented into North America, Asia Pacific, MEA(Middle East
& Africa), LATAM (Latin America) and Europe.
North American industry is
anticipated to record a CAGR of 18.4% during forecast period and is fueled by
U.S. mobile POS terminals industry growth.
Europe (mPOS)mobile POS terminals
market price was higher than $3.1 billion in 2015.
Rise in number of consumers due
to increase in small & medium sized firms and diminishing ownership costs is
anticipated to favorably affect Asia Pacific (mPOS) mobile POS terminals
industry trends.
Competitive Trends
Key industry players include QVS
Software Incorporation, Zebra Technologies, First Data Corporation, Oracle
Corporation, Ingenico S.A., Panasonic Corporation, HP Company, NEC Corporation,
Posiflex Technology Incorporation, PAX Technology Limited and Verifone.
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Information Source: Global Market Insights, Inc
