Mobile Point-of-Sale (mPOS) Terminals Market Key Information By Top Key Player: VeriFone Systems, Oracle Corporation, Ingenico S.A., Pax technology Limited, Squirrel Systems & Toshiba Corporation

The worldwide Mobile POS Terminals market is anticipated to reach over USD 81.3 billion by 2026. In 2017, the hardware component dominated the global market, in terms of revenue. North America is expected to be the leading contributor to the global market revenue during the forecast period.

The rising number of cashless transactions and growing need for digital payments primarily drive the growth of this market. Mobile POS solutions enable users to conduct financial transactions at remote locations with increased convenience and ease. Growing proliferation of mobile devices, increasing internet penetration, and technological advancement boosts the adoption of mobile POS terminals. Mobile POS terminals are also capable of accepting payments through EMV chip-enabled cards, contact-less cards, and NFC enabled cards.

Mobile Point-of-Sale (mPOS) Terminals Market key player includes VeriFone Systems, Oracle Corporation, Ingenico S.A., Pax technology Limited, Squirrel Systems, Toshiba Corporation, Posiflex Tachnology, Panasonic Corporation, NEC Corporation, and Hewlett-Packard Company.

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Mobile POS terminals are used by business to enable faster and easier checkouts. These terminals provide quicker checkouts during high volume transactions, thereby increasing customer experience. Mobile POS terminals are integrated with mobile devices such as smart phones and tablets, which offer benefits such as reduced serving time, higher workforce efficiency, while improve customer experience. These terminals are connected to inventory management systems, to further improve efficiency. Mobile POS terminals allow users to send digital receipts to consumers for better organization, and ease of use. Small businesses are increasingly adopting mobile POS terminals for increased profitability. Mobile POS terminals offer enhanced security as transactions are encrypted and not stored on devices. The declining prices of mobile devices, increasing demand for portable & wearable devices, rising NFC-based transactions, and technological advancements further supplement the growth of mobile POS terminals. The rising adoption of cloud-based and Android POS devices also boosts market growth. Integration of mobile wallet payments with mobile POS terminals to offer additional payment options to users is expected to create numerous growth opportunities in the coming years.

North America generated the highest revenue in the market in 2017, and is expected to lead the global market throughout the forecast period. The growing adoption of advanced NFC and EMV-enabled devices with the aim to minimize frauds and security breaches related to payments are driving growth in this region. Increasing penetration of mobile devices, affordable mobile POS terminals, and growing acceptance by small and medium-sized businesses further supports market growth in this region. The use of POS terminals in varied industries such as healthcare, retail, and hospitality among others accelerates its adoption.

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Mobile Point-of-Sale (mPOS) Terminals Market By Deployment Type: On-Premise, Cloud-based.
Mobile Point-of-Sale (mPOS) Terminals Market By Component: Hardware, Software
Mobile Point-of-Sale (mPOS) Terminals Market By End-Use: Retail, Restaurant, Healthcare, Hospitality, Others

Mobile Point-of-Sale (mPOS) Terminals Market By Regions: North America - U.S., Canada, Mexico; Europe - Germany, UK, France, Italy, Russia, Rest of Europe; Asia-Pacific - China, India, Japan, Australia, Rest of Asia-pacific; Latin America - Brazil; Middle East & Africa.

On the basis of components, the global mobile POS terminals market is segmented into hardware components, and software components. The hardware components include mobile devices, bar code scanner, and magnetic strip reader. The hardware is used across various industries with software varying according to industry specific requirements. The software segment is expected to grow significantly in the coming years owing to additional features offered such as customer loyalty programs, employee management, and business process monitoring. Growing adoption of cloud-based mobile POS solutions would also supplement market growth.

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The various end-users of mobile POS terminals include retail, restaurants, healthcare, hospitality, and others. The retail sector is expected to dominate the market throughout the forecast period owing to high demand from large supermarkets and hypermarkets, grocery and departmental stores, and specialty retail stores among others. The retail sector is turning to mobile POS solutions to cater to the high volume of fast checkouts. Use of POS terminals in the retail sector ensures faster service, provides data related to past transactions, offers customer loyalty solutions, and reduces human errors.

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