An mPOS or mobile POS is a portable point of sale (POS) on a smartphone or tablet that functions as a register. mPOS or mobile point-of-sale terminals are a replacement for traditional cash registers and point-of-sale devices. The global MPOS Market is estimated to value at around US$ 26 Bn in 2018, and is expected to register a CAGR of 18.8%.
Global mPOS Market Dynamics:
Increasing use of EuroPay, MasterCard, and Visa (EMV) cards among consumers as a cashless and e-commerce transaction option in both developed and developing countries across the globe is a major factor driving growth of the global mPOS market to a significant extent currently. mPOS terminals eliminate potential human error and enables conducting transactions faster in retail outlets, as well as helps to maintain accurate records of daily transactions, volume sales, and product stock.
mPOS terminals reduce paperwork as these units can generate accurate reports and store large volumes of data about stock and customers/consumers in real time and electronically. In addition, mPOS devices help to access updates of sales and purchase records on hourly, weekly, and monthly basis. The mPOS terminals help to improve Customer Relationship Management (CRM) as they enable easy access to data and help to track records of single or multiple customers, thereby making returns or exchanges of products timely and efficiently.
Analysis By Segmentation:
The market report has been segmented on the basis of application, solution, and region. The application segment includes financial institutions and third-party payment institutions. By solution segment includes hardware and services. The region covered in the analysis are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
By Application: The third-party payment institutions segment is expected to account for highest revenue share contribution as compared to other application segments, and is expected to maintain its dominance by registering highest CAGR of over 18% over the forecast period
By Solution: The services segment is estimated to account for highest revenue share in the global market. The hardware segment is expected to register highest CAGR of over 19% over the forecast period.
By Region: The market in North America accounted for highest revenue share in the global mPOS market in 2017. The market in Europe is projected to register highest CAGR of over 20% over the forecast period.
Global mPOS Market: Competitive Analysis
The research report on the global mPOS market includes profiles of some of major companies such as Ingenico Group, Verifone Systems, Inc., Fujian Newland Payment Technology Co., Ltd., Fujian LANDI Commercial Equipment Co., Ltd., Shenzhen Xinguodu Technology Co., Ltd., New Pos Technology Ltd., Bitel LLC, Castles Technology Co., Ltd., SZZT Electronics Shenzhen Co., Ltd., Square, Inc., Oracle Corporation, PayPal Holdings, Inc., Toshiba Corporation, The Hewlett-Packard Company (HP Inc.), and PAX Technology Limited.
The Global mPOS Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2017–2023 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global mPOS market for 2017–2023.
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