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mPOS Terminals Market Landscape to 2034: Key Forces Shaping the Next Decade of Growth
mPOS Terminals
How Large Will the mPOS Terminals Market Size By 2025?
The dimensions of the mPOS terminals market have seen a significant escalation lately. The rise is projected from a value of $40.53 billion in 2024, escalating to $47.91 billion in 2025, indicating a Compound Annual Growth Rate (CAGR) of 18.2%. This rapid growth during the historic period is attributed to factors such as the advent of smart devices, alterations in payment behavior, arrival of new entrants in the market, policy amendments, and consolidation of the market.
How Big Is the mPOS Terminals Market Size Expected to Grow by 2029?
The market size of mPOS terminals is anticipated to witness a substantial surge in the coming years, with projections reaching $99.73 billion in 2029, registering a CAGR of 20.1%. This expansion during the forecast period can be majorly attributed to further market penetration, increased digital transactions, incorporation of e-commerce, remote work and operations, and change in consumer behavior patterns. Key trends anticipated during the forecast period encompass integration of AI and analytics, cloud-based mPOS solutions, contactless and NFC payments, integration of IoT, and a transition to Software-as-a-Service (SaaS) models.
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Which Key Market Drivers Powering mPOS Terminals Market Expansion and Growth?
The increase in digital payment usage is predicted to fuel the advancement of the mPOS terminal market in the future. Digital payments are transactions carried out online or via digital mediums, with no physical money exchange. Mobile POS systems employ near-field communication (NFC), facilitating contactless payments by enabling users to swipe one device over another compatible device, thereby receiving payments through digital wallets. For instance, as per a 2022 report by the World Bank, a US financial products and technical support provider, globally, 76% of adults had a bank or other financial institution account or used a mobile money provider as of 2021. Furthermore, as per a 2022 survey undertaken by McKinsey & Company, there was a notable increase in digital payments penetration to 89 percent in 2022, and even more noteworthy was the rise in users reporting the usage of two or more forms of digital payments, which spiked from 51 percent in 2021 to 62 percent. Consequently, the surge in digital payment usage is propelling the mPOS terminal market's growth.
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Which Fast-Growing Trends Are Poised to Disrupt the mPOS Terminals Market?
Technological innovation is becoming a prevalent trend in the mPOS terminals market. Most of the leading corporations in the mPOS terminals market are striving to create technologically superior solutions to remain relevant in the market. For example, in May 2022, Square, a company based in the US that creates business tools, unveiled the Square for Restaurants mobile POS. The remarkable aspect of Square is its ability to support restaurants of all types and sizes, particularly full-service restaurants (FSRs), in strengthening their profits and operational efficiency. With the help of Square, restaurant servers can promptly and without difficulty handle orders and payments, whether they are at the table or in a queue. Despite potential staff shortages, establishments using the Square for Restaurants mobile POS pilot program can still augment their earnings and serve more customers.
What Are the Emerging Segments in the mPOS Terminals Market?
The mPOS terminals market covered in this report is segmented -
1) By Component: POS Terminals, POS Software, Services
2) By Solution: Hardware, Software
3) By Deployment: On-Premise, Cloud-Based
4) By Application: Entertainment, Healthcare, Hospitality, Restaurant, Retail, Warehouse, Other Applications
Subsegments:
1) By POS Terminals: Mobile Card Readers, Integrated POS Systems, Tablet-based POS Systems, Contactless Payment Terminals
2) By POS Software: Payment Processing Software, Inventory Management Software, Customer Relationship Management (CRM) Software, Analytics And Reporting Software
3) By Services: Installation And Maintenance Services, Training And Support Services, Consulting Services, Transaction Processing Services
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Who Are the Global Leaders in the mPOS Terminals Market?
Major companies operating in the mPOS terminals market include Ingenico Group, PAX Global Technology Limited, NCR Corporation, Oracle Corporation, VeriFone Inc., AURES Group, Fiserv Inc., Intuit Inc., New POS Technology Ltd., Newland Auto-ID Tech. Co. Ltd., Panasonic Holdings Corporation, PAR Technology, Posiflex Technology Inc., Square Inc., Zebra Technologies Corp., BBPOS Limited, Bitel Co. Ltd., Diebold Nixdorf Incorporated, Fujian Newland Payment Technology, HP Development Company L.P., Micros Systems Inc., NEC Corporation, SAMSUNG ELECTRONICS, Shenzhen Zhengtong (SZZT) Electronics Co Ltd, Adyen N.V., iZettle AB, PayPal Inc., Sage Pay Limited, SumUp Payments UAB
Which are the Top Profitable Regional Markets for the mPOS Terminals Industry?
North America was the largest region in the mPOS terminals market in 2024. The regions covered in the mPOS terminals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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