According to a new market report published by Transparency Market Research entitled “Mobile Point-of-Sale Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024,” the mPOS market is expected to reach US$38.38 bn in revenue by 2024, rising from US$2.08 bn in 2015. In terms of revenue, the market is estimated to expand at a CAGR of 38.0% during the forecast period from 2016 to 2024.
Browse the full Mobile Point-of-Sale (mPOS) (By Solution Type (Integrated Card Reader Solutions and Card Reader Accessories); By Technology (Hybrid Technology Solutions, EMV Chip and Pin, Magnetic-stripe, Chip and Sign, Near Field Communication (NFC), and Biometrics); By End-use (Restaurants, Hospitality, Health Care, Retail, Warehouse/Distribution, Entertainment, Transportation, Government, and Consumer Utility Services)) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024 report at http://www.transparencymarketresearch.com/mpos-market.html
mPOS is witnessing huge demand from small and medium-sized businesses for multiple applications, including card payments, inventory management, bill printing, and the provision of loyalty programs. Furthermore, ease of use and low cost are major factors influencing merchants across different industry verticals, such as restaurants, hospitality, retail, entertainment, transport, government, health care, warehouse/distribution, and consumer utility services, to adopt mPOS solutions. The demand for mPOS card reader accessories is driven by their low cost and ease of integration with smartphones. A lower total cost of ownership (TCO) has also been a high attraction for small merchants to adopt card reader accessories, including dongles and sleeves.
Among the different mPOS technologies, the hybrid technology solutions segment accounted for the largest revenue share in 2015. The dominance of the hybrid technology solutions segment can be attributed to its feasibility to read different card technologies such as NFC and EMV. Due to a liability shift, there is an increase in the migration to EMV chip and pin solutions. Hybrid solutions can serve as a bridge between old magnetic-stripe technology and new technologies such as EMV chip and pin and NFC. The NFC technology segment is expected to grow the fastest in terms of revenue and shipment during the forecast period. An increase in payment security levels ensuring the protection of vital data is expected to be one of the major factors to aid the fast growth of NFC technology in the coming years. Implementation of EMV chip and pin solutions has gained traction around the globe as it offers better security than magnetic-stripe solutions.
The retail end-use segment dominated the mPOS market in terms of revenue, shipment, and installed base in 2015. Small merchants are influenced to adopt mPOS solutions due their low cost and ease of use. Large retailers prefer integrated card readers due to their robustness. However, the transportation and government sectors are likely to grow the fastest in terms of adoption of mPOS solutions during the forecast period. In the coming years, the government sector is expected to adopt mPOS solutions for to reception of payments for various services such as electricity, taxes, and gas.
The major companies profiled in mPOS market study include Ingenico S.A., PAX Technology Ltd., Oracle Corporation (MICROS Systems, Inc.), VeriFone Systems, Inc., Hewlett-Packard Development Company, L.P., Toshiba Corporation, Intuit, Inc., First Data Corporation, iZettle AB, PayPal Holdings, Inc., Square, Inc., and Dspread Technology, Inc.
The mobile point-of-sale (mPOS) market is segmented as below.
Mobile Point-of-sale (mPOS) Market
By Solution Type
- Integrated Card Reader Solutions
- Card Reader Accessories
- Hybrid Technology Solutions
- EMV Chip and Pin
- Chip and Sign
- Near Field Communication (NFC)
- Health Care
- Public Transport
- Rental Cars and Intercity Buses
- Consumer Utility Services
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.
Mr. Sudip. S
90 State Street, Suite 700
Albany, NY 12207
USA - Canada Toll Free: 866-552-3453