Mobile Point-Of-Sale (mPOS) Terminals Market in Brief
- The global mobile point of sale (mPOS) terminals market registered a CAGR of 37.2% between 2019 and 2027. The global mobile point-of-sale (mPOS) terminals market is projected to be driven by replacement demand due to EMV migration & advantages such as ease of use due to mobility.
- The global mobile point-of-sale (mPOS) terminals market is expected to reach US$ 152,115.1 Mn by 2027 from US$ 12,126.6 Mn in 2019.
- Europe holds major share of the mobile point-of-sale (mPOS) terminals market and is anticipated to dominate the market during the forecast period, followed by North America.
- Europe remains the leading region in the mobile point-of-sale (mPOS) terminals market, with revenues in 2019 estimated at US$ 4,232.2 Mn.
- The mobile point-of-sale (mPOS) terminals market in Middle East & Africa and South America are also expected to show moderate growth during the forecast period.
- Asia Pacific is projected to expand with the highest CAGR of 43.6% in the global mobile point-of-sale (mPOS) terminals market during the forecast period.
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Mobile Point-Of-Sale (mPOS) Terminals Market – Definition
- The mobile point-of-sale (mPOS) terminals market report provides analysis of the global mobile point-of-sale (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 (mPOS) terminals market would help clients in understanding the analysis of mobile point-of-sale (mPOS) terminals among different technologies.
- Mobile point-of-sale (mPOS) terminals has 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 Mobile Point-Of-Sale (mPOS) Terminals Market – Snapshot
Increased awareness regarding mPOS terminals among small and medium businesses (SMBs) are expected to open new avenues for the growth for mobile point-of-sale (mPOS) vendors in Europe. For the same reason, Europe is expected to see highest opportunity addition for the mobile point-of-sale (mPOS) terminals market globally, with North America being the next closest region.
Market Dynamics – Mobile Point-Of-Sale (mPOS) Terminals Market:
Key Growth Drivers of the Mobile Point-Of-Sale (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 of the 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, increasing advantages such as ease of use due to mobility and lower total cost of ownership offered by mPOS the adoption of mobile point-of-sale (mPOS) terminals worldwide.
- 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, sales of EMV-compliant mPOS solutions is 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 (mPOS) terminals worldwide.
Mobile Point-Of-Sale (mPOS) Terminals Market – Competitive Landscape
- In January, 2019, Fiserv acquired First Data Corp. with the amount of US$ 22 billion to drive or extend payment business worldwide. The acquisition would help the company to expand its payment solutions across various industries includes banking sector, retail sector and others.
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Mobile Point-Of-Sale (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 transaction across all the channels, such as in-store, online, mobile, etc. The company’s mPOS solutions include mPOS EMV SDK, mPOS card readers, and mPOS platforms. The company provides its payment solutions for various industry such as banking, retail, transportation, oil & gas, IT, hospitality, and finance. The company has its market presence across 170 countries in 5 continents, with 88 sites and 25 R&D centers worldwide.
- PayPal Holdings, Inc.: – PayPal is actively engaged in providing online payment systems worldwide. The company’s payments system supports online money transfers and also serves as an electronic payment option compared to traditional paper methods such as money orders and checks.The company also provides widespread point-of-sale (POS) system includes PayPal card readers, POS accessories and All-in-one POS solution.
- Square, Inc.: – Square, Inc. provides and develops point-of-sale (POS), 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.
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Other major players operating in the global mobile point-of-sale (mPOS) 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.
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