Published: Sep, 2019
Global Mobile Point-of-Sale (mPOS) Terminals Market: Overview
According to a new market report pertaining to the global mobile point-of-sale (mPOS) terminals market published by Transparency Market Research the global mobile point-of-sale terminals market is projected to reach value of ~US$ 152 Bn by 2027, up from ~US$ 12 Bn in 2019, expanding at a CAGR of ~37% from 2019 to 2027. Growth of the mobile point-of-sale terminals market can be attributed to the rapid rise in mobile and Internet penetration, facilitating growth in the retail sector. Europe is anticipated to lead the global mPOS terminals market, followed by North America, during the forecast period.
Rapid rise in Mobile & Internet Penetration Facilitating Growth in Retail Sector: Key Market Driver
The spread of mobile phones has been significant across the world in recent years. The evolution of smartphones has fueled the use of mobile devices by consumers and at organization levels as well. The use of mobile devices has enabled organizations to provide greater mobility at workplaces and speed up processes. For example, the use of mobile devices as point-of-sale terminals at retail stores has permitted the faster movement of customers at cash counters, thus providing better customer satisfaction. The growth of e-Commerce and home delivery facilities are driving the expansion of the mPOS terminals market. mPOS solutions enable merchants to process payments at customers’ locations and eliminate the risks associated with cash transactions. Thus, increasing mobile and Internet penetration is expected to have a significant impact on the retail sector throughout the forecast period.
mPOS Value-Added Services (VAS) to Provide Future Opportunity
During the past few years, new vendors successfully activated millions of merchants by offering schemes that involved no monthly fees, flat rate percentage pricing, minimal cost hardware, and minimal ongoing maintenance charges. For instance, U.S.-based company LevelUp started offering 0% payment processing fees in exchange for obligatory marketing services. Competition on the basis of pricing among mPOS vendors is expected to be high during the coming years, due to an increasing number of players in the QSR mPOS market. Thus, key factors to sustain the competitive environment would be product differentiation and offering value-added services. mPOS terminal vendors need to offer customized mPOS solutions catering to the needs of specific industry verticals. Thus, this factor is expected to positively impact the growth of the mobile point-of-sale terminals market over the forecast period.
mPOS Terminals Market: Regional Outlook
In terms of region, the global mobile point-of-sale terminals market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Europe led the global mPOS terminals market, accounting for a substantial share in 2018, with Germany, the U.K., Russia, Spain, France, Nordics, and Italy being the major markets in the region. The Europe mobile point-of-sale terminals market is expected to hold the largest share of ~35% by 2019. The Asia Pacific mPOS terminals market is expected to rise at the highest CAGR of ~44% during the forecast period.
The mobile point-of-sale terminals markets in the Middle East & Africa and South America are expected to expand moderately during the forecast period. The report provides in-depth segment analysis of the global mPOS terminals market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries that hold growth opportunities or account for significant shares has also been included as part of the geographic analysis for the mobile point-of-sale terminals market.
mPOS Terminals Market: Competition Dynamics
The research study includes the profiles of leading companies operating in the global mobile point-of-sale terminals market. Key players 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., Ingenico S.A., Intuit, Inc., iZettle AB, Oracle Corporation (MICROS Systems, Inc.), PAX Technology Ltd., PayPal Holdings, Inc., Posiflex Technology, Inc., Recruit Holdings Co., Ltd., Square, Inc., VeriFone Systems, Inc. and Zebra Technologies Corp.
Global mPOS Terminals Market: Segmentation
The global mobile point-of-sale terminals market has been segmented based on solution, industry, authentication, and region.
mPOS Terminals Market by Solution
- Integrated Card Reader Solutions
- Card Reader Accessories
mPOS Terminals Market by Industry
- Public Transport & Rental Cars
- Intercity Buses
- Consumer Utility Services
mPOS Terminals Market by Authentication
- EMV Chip and PIN (PIN on Terminal/Glass & PIN on Mobile)
- Magnetic Stripe
- Chip and Sign
- Near Field Communication (NFC)
mPOS Terminals Market by Region
- North America
- Rest of the Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
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