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Mobile Point Of Sale Devices Market Growth Rate, Latest Trends, Industry Insights And Forecast To 2033
Mobile Point Of Sale Devices Market
As per the report, the mobile point of sale devices market size has grown rapidly in recent years. It will grow from $39.63 billion in 2023 to $45.88 billion in 2024 at a compound annual growth rate (CAGR) of 15.8%. The mobile point of sale devices market size is expected to see rapid growth in the next few years. It will grow to $83.25 billion in 2028 at a compound annual growth rate (CAGR) of 16.1%.
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Impact of 5G Networks On The Mobile Point-Of-Sale Device Market
The expansion of 5G networks is expected to propel the growth of the mobile point-of-sale device market going forward. 5G networks refer to the fifth generation of wireless cellular technology that provides better capacity, more reliable connections, and faster upload and download rates. There is surge in 5G network expansion for fast and reliable data connectivity due to the widespread adoption. The use of 5G networks catalyzes mobile point-of-sale devices by enabling faster and more reliable connectivity, facilitating seamless transaction processing, enhanced user experiences, and broader adoption of mobile payment solutions across diverse retail environments. For instance, in September 2023, according to 5G Americas, a US-based industry trade organization, the 5G penetration rate in North America has reached an exceptional 40%, with a growth rate of 25.5% in the first half of 2023. The projections indicates that North America's 5G connections would reach a remarkable 669 million by 2028. Therefore, the expansion of 5G networks is driving the growth of the mobile point-of-sale device market.
Innovative Mobile Applications Transforming Mobile Point Of Sale Market
Major companies operating in the mobile point-of-sale device market are developing mobile applications such as Smartphone TPV, to increase their profitability in this market. Smartphone TPV is a mobile application that allows mobile phones to be used as point-of-sale devices. For instance, in May 2023, CaixaBank, a Spain-based banking company, launched the smartphone TPV. This app transforms the way payments are accepted by allowing users to effortlessly handle card transactions of any size using their mobile devices, removing the necessity for extra equipment. It represents the inaugural launch in Spain by a financial institution of an app that can turn a smartphone into a complete POS terminal. The app is equipped with strong security features akin to conventional POS systems. It facilitates contactless payments and offers instant transaction monitoring.
The mobile point of sale devices market covered in this report is segmented -
1) By Solution Type: Integrated Card Reader Solutions, Card Reader Accessories, Dongles, Sleeves
2) By Technology: Biometrics, Bluetooth, Chip And Sign, Europay Mastercard And Visa Chip And Pin, Ethernet, Hybrid Technology Solutions, Magnetic-Stripe, Near Field Communication
3) By End Use: Restaurant Hospitality (Lodging), Healthcare, Retail Warehouse Or Distribution, Entertainment
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Major companies operating in the mobile point of sale devices market are Amazon.com Inc., Alphabet Inc., Samsung Electronics Co Ltd., Panasonic Corporation, Hewlett-Packard Development Company, Cisco Systems Inc., Oracle Corporation, Toshiba Corporation, Fiserv Inc., Square Inc., Zebra Technologies Corp., Worldpay Inc., Ingenico Group, PAX Technology Inc., Adyen N.V, VeriFone Systems Inc., Fujian Newland Payment Technology Co Ltd., BlueSnap Payment Services Limited, Revel Systems Inc., PaySimple Inc., Upserve Inc., BBPOS Limited, CardFlight Inc., Touch Dynamic Inc., Paynear Solutions Private Limited
Contents of the report:
1. Executive Summary
2. Mobile Point Of Sale Devices Market Report Structure
3. Mobile Point Of Sale Devices Market Trends And Strategies
4. Mobile Point Of Sale Devices Market - Macro Economic Scenario
5. Mobile Point Of Sale Devices Market Size And Growth
…..
27. Mobile Point Of Sale Devices Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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