A recent Transparency Market Research report states that the global mobile point-of-sale terminals market is anticipated to witness a skyrocketed growth from 2017 to 2027. The analysis by the experts at Transparency Market Research predicts that the market shall rise from the value of US$ 12 bn in 2016 to US$ 152 bn by the end of 2027. The mobile point-of-sale terminals market is also projected to witness a whopping 37% CAGR during the tenure says the report. The analysis by the experts states that the market’s growth is attributed the growth of the online shopping massive penetrations of smart phones in online retail sector.
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Growing Penetration of Internet to Drive the Growth
Online shopping is one of the latest trend that is driving the success of any retail business today. To achieve this pacing momentum, the retail businesses are investing a major amount in establishing a consistent internet connectivity. This shows the importance of the internet in this sector the business. This importance and penetration of the internet in the online retail is the major factor that is booting the growth of global mobile point-of-sale terminals market from 2017 to 2027.
Demand for Customer Satisfaction to Propel the Growth
The success of a business is measure by revenue generated along with the number of satisfied customer. A satisfied customer can generate 3 time more revenue for the business than through an unsatisfied customer. Mobile Point-of-Sale Terminals allow the customers to get their products quickly and effortlessly. This increases the customer engagement which further result in better shopping experience. This experience provides better customer satisfaction and retention rate which results in better profit. Due to these facts the global mobile point-of-sale terminals market is growing exponentially in the duration of 2017 to 2027.
Technological Developments Further Propels the Growth
With the development of technologies like IoT and automation, the online shopping is getting smarter with every passing day. These technologies allows the players to develop customer centric strategies that can attract new customers along with retaining the existing ones. Based on te technological developments and incorporation of smart solutions like smart logistic monitoring, smart asset monitoring, and remote tracking solutions, the global Mobile Point-of-Sale Terminals market is anticipated to witness the projected growth from 2017 to 2027.
North America To Dominate the Regional Segtment
North America is in the forefront of the online retail. This is because of the presence of players like Amazon, eBay, and WallMart in the U.S. Additionally, these players are the pioneer of online shopping making Mobile Point-of-Sale Terminals popular in the region. It is because of this reason North America is expected to dominate the regional front of global mobile point-of-sale terminals market from 2017 to 2027.
The global mobile point-of-sale terminals market is segmented on the basis of:
- Integrated Card Reader Solutions
- Card Reader Accessories
- Public Transport & Rental Cars
- Intercity Buses
- Consumer Utility Services
- EMV Chip and PIN
- Magnetic Stripe
- Chip and Sign
- Near Field Communication (NFC)
- North America
- South America
- Asia Pacific
- Middle East and Africa
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