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
·
U.S.
·
Canada
·
Europe
·
Germany
·
UK
·
Asia Pacific
·
China
·
India
·
Japan
·
Latin America
·
Brazil
·
Mexico
·
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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