Pune, India -- (SBWire) -- 05/16/2018 --Mobile POS (mPOS) is a device which can be linked to a smartphone or tablet and enables the user to accept a card or mobile contactless payment. Mobile point-of-sale is changing the retail industry by delivering results that other technologies have failed to deliver. The mobile POS terminals market has gained momentum over the previous years due to rapid and increasing deployments in large retail chains, across a wide number of regional marketplaces.
The author of the report analyzed that the Global mPOS Hardware Market accounted for US$ 4173.5 million in 2017. Mobile POS (mPOS) is a device which can be linked to a smartphone or tablet and enables the user to accept a card or mobile contactless payment. Mobile point-of-sale is changing the retail industry by delivering results that other technologies have failed to deliver.
The global mPOS Hardware Market was valued at US$ 4173.5 Mn in 2017 and is expected to reach US$ 11579.5 Mn by 2022.
The mobile POS terminals market has gained momentum over the previous years due to rapid and increasing deployments in large retail chains, across a wide number of regional marketplaces. Ease of use and better-quality return on investment (ROI) offered by these systems has positively impacted the mPOS terminals market.
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The convenience offered through online and mobile payment channels has resulted in the expansion of mobile POS terminal adoption. Since its emergence as distinct payment category in 2013, the global mPOS industry has witnessed exponential. mPOS is exposed to vulnerabilities such as cyber attacks and malwares. These potential threats can create obstacles in the growth of the mPOS hardware market. However, the increasing connectivity has paved way for frictionless, efficient, and global outbound payment solution. The need to meet increasing consumer expectations can lead to a wider adoption of mPOS hardware.
Retail anticipated to be Dominant Segments During the Forecast Period 2018-2026
On the basis of verticals, the mPOS hardware market is segmented into restaurants, hospitality, healthcare, warehouse, retail, entertainment and many others. Retail is expected to remain the dominant segment throughout the forecast period 2018-2026.
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Increasing Number of Smartphone Consumer Base to Drive the Growth of mPOS Hardware Market in Asia Pacific
The economic progress witnessed by countries in Asia Pacific, has led to a surge in the number of smartphone. Besides this factor, cheaper manufacturing processes in this region has also driven the number of smartphone users. The rising level of connectivity has resulted to the adoption of mPOS hardware at a significant rate.
mPOS Hardware Market is Fragmented with the Presence of Global and Regional Players
Some of the key participants in global market are First Data Corporation, HP Development Company, L.P., Ingenico Group, NEC Corporation, Oracle, Panasonic Corporation, Posiflex technology, Inc., QVS Software, Inc., Samsung, Spectra Technologies Holdings Co. Ltd., Toshiba Corporation, Verifone, ZIH Corp., Bixolon, PAYPAL, Square, Inc., DSPREAD Technology 13.18. Intuit Inc., BBPOS Limited, amongst other.
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mPOS Hardware Market – By Technology
Hybrid Technology Solutions
EMV Chip and Pin
Magnetic-Stripe
Chip and Sign
Near Field Communication (NFC)
Biometrics
Others
mPOS Hardware Market – By Solution Type
Integrated Card Reader Solutions
Card Reader Accessories
Dongles
Sleeves
Market By Vertical
Restaurants
Hospitality
Health Care
Retail
Warehouse/Distribution
Entertainment
Transportation
Public Transport
Rental Cars and Intercity Buses
Government
Consumer Utility Services
Market By Region
North America
Europe
Asia Pacific
Middle East and Africa
Latin America
