The Global Mobile POS Terminals Market is expected to reach USD 42.99
billion by 2022, according to a new study by Grand View Research, Inc. Mobile
POS terminals have evolved from basic payment processing tools to advanced
analytics solution providers with greater processing capability and wireless
communication support. The inflection of these terminals came with the adoption
of consumer grade devices such as tablets for business use. Ubiquitous wireless
connectivity such as the Bluetooth, availability of mobile printers, scanners,
card readers and peripheral devices; and multiple platform support have driven
the mobile POS terminals market in various applications.
Sophisticated data analytics, growing credit card payments and
ever-changing consumer expectations are expected to spur the mobile POS
terminals industry. This growth has encouraged retailers to leverage new
applications and strategies to deliver seamless customer experience. Mobile
applications have the ability to create new channels for revenue growth; as a
result, vendors are increasingly trying to understand various marketing
channels available in order to leverage technology to compete. Flexibility of
having a tablet-based mobile POS owing to low installation costs has attracted
SMBs to invest in this technology. Reduced customer time in line, increased
security, free floor space and paper-free receipting services are the features
driving mPOS terminals demand over traditional or fixed terminals.
The growing penetration of tablet devices, rising base of SMBs and
micro-merchants, need for effective line-busting schemes to encourage card
adoption are expected to propel market growth over the coming years. However,
lack of standardization and data security concerns may restrain mobile POS
terminals market growth. Increased penetration of Near Field Communication
(NFC) in mobile devices is expected to augment demand.
In depth research report on Mobile POS Terminals Market
Further key findings from the study suggest:
·
The mobile POS terminals market primarily includes
components such as hardware and software. Mobile POS hardware systems accounted
for majority of the market share in 2014; the segment is expected to lose market
share through the forecast period. The software segment is expected to witness
growth as consumers shift towards the use of consumer-grade electronics devices
such as tablets for managing their POS needs.
·
Retail segment accounted for over 30% of the overall
market share in 2014. Growing adoption of mobile POS technology across SMBs and
micro-merchants is expected to drive segment growth.
·
Asia Pacific and Latin America mobile POS terminals market
are expected to witness substantial growth over the forecast period. This may
be primarily attributed to increasing low-cost manufacturing activities in the
region. Surge in demand across application segments is expected to spur the
regional market.
·
Notable companies operating in the industry such as Verifone,
Ingenico, and Micros Systems provide various handheld and tablet-based mobile
POS solutions. Verifone Systems introduced these solutions for SMBs along with
iPayment to address the need of the marketplace.
For the purpose of this study, Grand View Research has segmented the
mobile POS terminals market on the basis of component, application and region:
Mobile POS Terminals
Component Outlook (Revenue, USD Million, 2012 - 2022)
·
Hardware
·
Software
Mobile POS Terminals
Application Outlook (Revenue, USD Million, 2012 - 2022)
·
Restaurants
·
Hospitality
·
Healthcare
·
Retail
·
Warehouse
·
Entertainment
·
Others
Mobile POS Terminals
Regional Outlook (Revenue, USD Million, 2012 - 2022)
·
North America
o
U.S.
o
Canada
·
Europe
o
Germany
o
UK
·
Asia Pacific
o
China
o
India
o
Japan
·
Latin America
o
Brazil
·
Mexico
o
MEA
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
For more market analysis
reports, please visit: http://www.grandviewresearch.com/
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