Sales of mPOS Terminals to Gain Impetus with the Popularity of 'Digital Economy' Concept

Numerous end-use industries scramble towards mobile point-of-sale (also known as mPOS) terminals, away from fixed POS systems and old cash registers, given the attractive propositions such as low maintenance, ease of transaction, and real-time inventory management. With the convergence of digitalization and businesses across various industries, the demand for mPOS terminals has evinced a vertiginous trajectory, which has been reported in an exclusive study published by Transparency Market Research (TMR).

According to the research, the mPOS terminals landscape is poised to grow ~30X during 2017-2027, and the penetration of smartphones coupled with the affordability and reliability attributes of the Internet network reflect on the surging adoption rate. Several initiatives taken by central authorities to encourage the concept of cashless economy are projected to inspire consumers towards debit/credit card-centered payments. However, the rise of mobile wallets that appeal to consumers with attractive deals and cashback offers could pose as a huge challenge.

mobile point of sale terminals market infographic

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In Focus: Surging Adoption of mPOS Terminals based on NFC Technology

Recent advancements brought into wireless technologies are extending the bounded scope of mobile point-of-sale terminals beyond designated functions to serve as retail management systems, and administer multiple aspects, ranging from inventory to sales, and customer management. The incorporation of cloud-based solutions further reduces business hassles for end users with the 'monitor business anytime, anywhere' ease, which has accounted for sizeable sales of mPOS terminals.

Mobile point-of-sale terminal solutions based on biometrics, have, and will continue to cement their leading stance among other authentication solutions, given the high grade of consumer data security that this system offers. However, in the near future, mandatory implementation of the EMV chip, PIN, and near field communication (NFC) will dim the popularity of biometric systems. Based on value, biometric solutions will advance at a CAGR of ~38%, which is ~7% lower than the exponential growth of mobile point-of-sale terminal solutions based on NFC authorization.'

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The convergence of mPOS terminals and the retail sector has drawn new tangents to improve the rate of consumer satisfaction, owing to the quick billing process that reduces wait times. That being said, mPOS terminals offer retailers the ease of carrying out efficient business even during peak hours, which has been a viable feature for retail businesses of all scales. Besides retail, the government sector holds promising opportunities for portable POS terminals for the collection of electricity tax and toll.

How Can Players Compete in the Market?

The mobile point-of-sale terminals landscape indicates a moderate degree of consolidation, with market majors pushing the envelope of the industry. In the competitive landscape, market players can experience a moderate threat from forward integration by suppliers. However, instances of backward integration would remain handful, given the popularity of customized raw materials to cater to the demand for hardware, such as card readers.

Besides this, market players can look at an upcoming era with high penetration of mobile wallets, which is likely to outdo the number of transactions done using debit and credit cards. In such circumstances, they can seek long-term partnerships with end users, with a zoomed-in focus on the retail and government sectors.

mobile point of sale terminals market segmentation

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Analysts’ Viewpoint

Authors of the report opine that, the landscape will grow at a staggering CAGR of ~37% during 2019-2027 with wireless technologies such as IoT streamlining the workflow across industries. In an intensely competitive landscape, vendors can focus on offering tailor-made solutions to merchants, based on the business scale. Investments directed towards offering mPOS terminals in developing countries of Asia Pacific will remain remunerative, given the ongoing shift from paper-based to paperless transactions. However, vendors need to direct undivided attention towards system malfunctions, which could lead to breaching laws apropos of consumer data.

In a nutshell, vendors can leverage advanced technologies to control multifaceted business aspects and secure consumer data to penetrate into new markets, and complete the quest for a consolidated market position.

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Mobile Point-of-Sale (mPOS) Terminals Market in Brief

  • The global mobile point-of-sale (mPOS) terminals market is projected to register a CAGR of ~37% between 2019 and 2027. The global mobile point-of-sale terminals market is projected to be driven by replacement demand due to EMV migration and advantages such as ease of use due to mobility.
  • The global mPOS terminals market is expected to reach ~US$ 152 Bn by 2027 from ~US$ 12 Bn in 2019.
  • Europe holds a major share of the mobile point-of-sale terminals market, and is anticipated to dominate the market during the forecast period, followed by North America.
  • Europe remains the leading region in the mPOS terminals market, with revenue in 2019 estimated at ~US$ 4.2 Bn.
  • The mobile point-of-sale terminals markets in the Middle East & Africa and South America are expected to experience moderate growth rates during the forecast period.
  • Asia Pacific is projected to expand at the highest CAGR of ~44% in the global mPOS terminals market during the forecast period.

mPOS Terminals Market - Definition

  • The mobile point-of-sale terminals market report provides analysis of the global mPOS terminals market for the period 2017–2027, wherein, 2018 is the base year and 2019 to 2027 is the forecast period. Data for 2017 has been included as historical information.
  • The study on the mobile point-of-sale terminals market would help clients in understanding the analysis of mPOS terminals among different technologies.
  • Mobile point-of-sale terminals have quickly evolved as a key tool enabling merchants of all sizes to accept card payments. mPOS is increasingly being used for payments, inventory management, printing bills, and providing loyalty programs across various industry verticals such as retail, hospitality, and entertainment.

Europe mPOS Terminals Market – Snapshot

Increased awareness regarding mPOS terminals among small and medium businesses (SMBs) are expected to open new avenues for the growth of mPOS terminal vendors in Europe. For the same reason, Europe is expected to see the highest opportunity addition in the mobile point-of-sale terminals market, globally, with North America being the next closest region.

Key Growth Drivers of the mPOS Terminals Market

  • Advantages such as ease of use due to mobility and lower total cost of ownership offered by mPOS driving its uptake: The implementation of mPOS allows sales and service industries to conduct financial transactions at any place by taking advantage of mobility, improving customer experience, and saving space. mPOS solutions lead to queue busting, faster inventory checking, and space savings as compared to traditional POS systems. For instance, using their POS-enabled mobile phones, retailers are able to enhance sales by increasing the level of customer engagement, and simultaneously tracking their inventory. mPOS is also a cost-effective solution for small business owners. Many mPOS solutions are available at a very low cost, leading to lower total cost of ownership (TCO). Merchants already own smartphones and tablets; thus, they only have to invest in low-cost dongles or sleeves, and can avoid any additional cost involved in the purchase, deployment, and maintenance of fixed POS systems. Thus, advantages such as ease of use due to mobility and lower total cost of ownership offered by mPOS are driving the adoption of mobile point-of-sale terminals across the world.
  • Replacement demand due to EMV migration: Compliance has been brought into place to mitigate security risks associated with card-based payments at POS terminals, including mPOS. Thus, the sales of EMV-compliant mPOS solutions are expected to receive a significant boost in the coming years. However, a complete migration to EMV chip-and-pin-based mPOS would take a few years, and the impact of the change would be distributed over the forecast period. Hence, replacement demand due to EMV migration is expected to drive the adoption of mobile point-of-sale terminals, worldwide.

mPOS Terminals Market – Competitive Landscape

  • In January 2019, Fiserv acquired First Data Corp. for US$ 22 Bn, to extend its payment business, worldwide. The acquisition would help the company expand its payment solutions across various industries.

mPOS Terminals Market - Company Profiles Snapshot

  • Ingenico Group S.A.:- Ingenico Group S.A. is a France-based company, specialized in payment solutions, providing trusted, secure, and smart solutions to allow worldwide transactions across all channels, such as in-store, online, and mobile. The company’s mPOS solutions include mPOS EMV SDK, mPOS card readers, and mPOS platforms. It provides its payment solutions for various industries such as banking, retail, transportation, oil & gas, IT, hospitality, and finance. The company has a market presence across 170 countries in five continents, with 88 sites and 25 R&D centers.
  • PayPalHoldings, Inc.:- PayPal is actively engaged in providing online payment systems, worldwide. The company’s payments system supports online money transfer, and also serves as an electronic payment option as compared to traditional paper methods such as money orders and checks. The company provides point-of-sale (POS) systems such as PayPal card readers, POS accessories, and All-in-one POS solution.
  • Square, Inc.:- Square, Inc. provides point-of-sale, payment processing, marketing, and financial services, worldwide. It provides Square Point of Sale, a POS application software that offers managed payment solutions and advanced software products, including Square Dashboard, a cloud-based reporting and analytics tool that provides sellers with real-time data and insights about sales.

Other major players operating in the global mobile point-of-sale terminals market and profiled in the report include

  • Bixolon Co., Ltd.
  • Citizen Systems Europe GmbH
  • Dspread Technology, Inc.
  • Fiserv Inc. (First Data Corporation)
  • Hewlett-Packard Development Company
  • L.P.
  • Intuit, Inc.
  • iZettle AB
  • Oracle Corporation (MICROS Systems, Inc.)
  • PAX Technology Ltd.
  • Posiflex Technology, Inc.
  • Recruit Holdings Co., Ltd.
  • VeriFone Systems, Inc.
  • Zebra Technologies Corp.

Mobile Point-of-Sale (mPOS) Terminals Market - Scope of the Study

[183 Pages Report] Transparency Market Research (TMR) carried out a comprehensive analysis pertaining to the growth potential of the mobile point-of-sale (mPOS) terminals market in its recently published research report for the forecast period of 2019-2027. The research report includes some rare and distinguished insights for stakeholders for them to safeguard their position and consolidate their share in the mobile point-of-sale terminals market.

This comprehensive research report is aimed at offering crucial insights apropos of the growth of the mPOS terminals market, and provides significant information related to the growth opportunities for market players. With the aid of the insights mentioned in this comprehensive research report, stakeholders in the mobile point-of-sale terminals market will be able to gain a broad outlook on the growth trajectory, which can aid them in making well-informed strategies for their business growth.

This exclusive business study assesses and includes Porter’s Five Forces, with an underlying aim to offer information regarding the key growth strategies available in the mPOS terminals market during the forecast period. The comprehensive guide offers crucial insights related to the competition present in the mobile point-of-sale terminals market by identifying key competitors. The exclusive research report, in turn, provides crucial information about the key drivers, strategies, financials, and notable developments in the mobile point-of-sale terminals market during the forecast period of 2019-2027. The mobile point-of-sale terminals market assessment has been carried out in terms of value (US$ Mn).

mPOS Terminals Market - Segmentation

In order to present an incisive view of the mobile point-of-sale terminals market, analysts and researchers of the report have segregated the mPOS terminals market on the basis of authentication, solution, industry, and region. This comprehensive business study also analyzes the incremental opportunity present in the mobile point-of-sale terminals market during the forecast period. The key segments of the mPOS terminals market are as mentioned below:

Authentication

EMV Chip and Pin

  • PIN on Terminal/Glass
  • PIN on Mobile

Magnetic-stripes

Chip and Sign

Near Field Communication (NFC)

Biometrics

Solution

Hardware

  • Integrated Card Reader Solutions
  • Card Reader Accessories
  • Dongles
  • Sleeves

Software

Services

Industry

Restaurants

Hospitality

Healthcare

Retail

Warehouse/ Distribution

Entertainment

Transportation

Government

Consumer Utility Services

Region

North America

Europe

Asia Pacific

Middle East & Africa

South America

mPOS Terminals Market - Key Questions Answered

The analysts of TMR study have conducted a thorough research to measure the growth prospects of mobile point-of-sale terminals market during the forecast period. This comprehensive research report analyzes and answers crucial questions related to the growth of the mPOS terminals market during the forecast period. Some of the key questions answered in this study are as follows:

  • What are the recent developments and key market shifts expected to be witnessed in the mPOS terminals market during the forecast period?
  • What are the key winning imperatives for leading and prominent players operating in the mobile point-of-sale terminals market?
  • What are the key trends propelling the growth of the MPOS terminals market?
  • Which end user will exert a strong influence on the mobile point-of-sale terminals market?

mPOS Terminals Market - Research Methodology

In order to compile the research report, we conducted in-depth interviews and discussions with a number of key industry participants and opinion leaders. With the help of primary research, interviews were conducted with key industry heads, market players, and opinion leaders. In addition, a review of key players’ product literature, revenue share for their business segments, their annual reports, press releases, and relevant documents was done to gain an incisive understanding of the mPOS terminals market. With the help of secondary research, various reliable Internet sources, and statistical data from government websites, trade associations, and agencies, key insights were derived.

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