According to a new market report published by Credence Research “Mobile Point-of-Sale (mPOS) Terminals Market (Restaurants, Hospitality, Healthcare, Retail, Transportation and Warehouse, Sports and Entertainment, and Other Verticals) – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 – 2022” the mobile POS terminals market is expected to reach US$ 43.32 Bn by 2022, expanding at a CAGR of 23.2% from 2015 to 2022. In terms of volume, the mobile POS terminal shipments are expected to reach 242.97 Mn units by 2022, expanding at a CAGR of 42.1% during the forecast period 2015 – 2022
Browse the full report at https://www.credenceresearch.com/report/mobile-point-of-salesmpos-terminals-market
Mobile POS (mPOS) terminals are specialized integrated mobile devices (smartphones and tablets) that function as electronic point of sale terminals. These specialized mobile devices can also be transformed into payment terminals through use of sleeves or dongles. Equipped with capabilities such as RFID (Radio Frequency Identification), Wi-Fi, smart card, and VoIP (Voice Internet Protocol), mobile POS terminals are additionally used to manage inventory/assets, send and receive invoices, send digitize notes, and capture signatures at counters. These capabilities allow mPOS terminals to accept payments even remotely through wireless applications. Advancements in payment technologies coupled with the move towards EMV (Europay, MasterCard, Visa) chip card payment is expected to fuel market momentum.
The global mobile POS terminals/systems market is highly fragmented across vertical markets, requiring vendors to understand the distinct differences and requirements from vertical to vertical. Verifone Systems, Inc., Ingenico S.A., and PAX Technology Ltd are identified as the leading mobile POS terminal vendors while other players including First Data Corporation, Panasonic Corporation, Samsung Electronics Co. Ltd , and Hewlett Packard have been marked as promising players in the mobile POS terminals industry.
- Demand for portable and wearable devices
- Increase NFC-based transactions
- Growing adoption of cloud-based and Android POS devices
- Opportunity to offer Loyalty Options