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.
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http://www.grandviewresearch.com/industry-analysis/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.
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
o
Mexico
·
MEA
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, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
