mPOS Terminals Market | Covid19 Impact Analysis | Business Outlook, Growth, Revenue, Trends and Forecasts 2030 | Major Players are Ingenico Group S.A., NCR Corporation, Posiflex Technologies Inc., SPECTRA Technologies Holdings Co. Ltd., Oracle Corporation

The rising sale of smartphones, high digitization rate, and increasing penetration of the internet are leading to the growing trend of contactless payments. As per Capgemini, compared to 598 billion in 2018, 876 billion digital payments would be done by the end of 2021. In India, specifically, this number increased by 58.8% in 2018–19, in comparison to 50.4% in 2017–18.

Therefore, with the rising number of people preferring cashless payments, the global mobile POS market, which generated $19.5 billion in 2019, is predicted to experience a 17.9% CAGR between 2020 and 2030 (forecast period). This is because mPOS terminals enable companies to receive contactless payments and speed up the checkout process.

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During the forecast period, faster growth in the mobile POS terminals market would be witnessed by the cloud bifurcation, at a CAGR of 21.6%. This is attributed to the numerous advantages of cloud-based mPOS solutions, such as better access to the data from any device, anywhere, reduced expenditure on IT infrastructure, and automatic backup of data.

Asia-Pacific (APAC) dominated the mobile POS terminals market in 2019, and it will keep contributing the highest revenue till 2030. This is ascribed to the advancing healthcare, retail, and hospitality industries in the region, as a result of the high rate of urbanization. Mobile point-of-sale terminals find widespread adoption in the retail industry, which is the largest in APAC.

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The mPOS terminals market report offers comprehensive market segmentation for the period 2014–2030.

Based on Component
Hardware
Handheld terminal
Tablet
Software

Based on Deployment Type
On-Premises
Cloud

Based on Application
Food Service
Hospitality
Healthcare
Retail
Warehouse
Sports & Entertainment

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