As per the business intelligence report by Transparency Market Research, the global mobile point of sale (mPOS) terminals market is expected to witness an outstanding growth rate of 37.2 % over the forecast years for the study i.e. 2019 to 2027. It also predicts that the global mobile point of sale (mPOS) terminals market will rise from its initial evaluation of US$ 12,126.6 million in 2019 and hit the mark of US$ 152,115.1 million by the end of the forecast period i.e. 2027. The rising awareness amongst small and medium-sized enterprises pertaining to the benefits of using mobile point of sale or mPOS terminals is propelling the demand within the global mobile point of sale (mPOS) terminals market. Furthermore, rising demand for EMV migration is also expected to foster the uptake of solutions in the global mobile point of sale (mPOS) terminals market in near future.
Services Segment Witnesses High Growth in Mobile Point of Sale (mPOS) Terminals Market
The segments in the global mobile point of sale (mPOS) terminals market classified by the authentication include magnetic stripes, near field communication or NFC, chip and sign, biometrics, and EMV chip and pin (including PIN on mobile as well as PIN on glass or terminal). The types of solutions provided by the players and developers functional within the global mobile point of sale (mPOS) terminals market include software, services, and hardware solutions (such as card reader accessories, sleeves, integrated card reader solutions, and dongles). With a leading growth rate of 42.9 %, the services solution segment is anticipated to dominate the global mobile point of sale (mPOS) terminals market in the coming years.
The solutions offered by the developers and players functional within the global mobile point of sale (mPOS) terminals market are used across various end-use industry verticals, such as hospitality, retail, entertainment, government, restaurants, healthcare, warehouse and distribution, transportation, and consumer utility services. Amongst these, the retail segment is most likely to dominate the global mobile point of sale (mPOS) terminals market in the coming years. The study projects that the retail segment in the global mobile point of sale (mPOS) terminals market will be worth over 34% of the total industry revenue by the end of the forecast years.
Asia Pacific to Record Highest CAGR in Mobile Point of Sale (mPOS) Terminals Market
Major regions assessed in the professional survey report on the global mobile point of sale (mPOS) terminals market include Europe, South America, Middle East, Africa, Asia Pacific, and North America. Regionally, the European region is anticipated to emerge as the dominant regional industry within the global mobile point of sale (mPOS) terminals market in near future. The second-largest region in the global mobile point of sale (mPOS) terminals market in terms of value in North America. Additionally, the global mobile point of sale (mPOS) terminals market in the Asia Pacific is most likely to record the highest i.e. 43.6 % growth rate in the industry during the forecast period.
Few of the leading and most prominent players and vendors functional within the global mobile point of sale (mPOS) terminals market include Hewlett Packard Development Company L. P., Oracle Corporation, PayPal Holdings, Inc., Recruit Holdings Co., Ltd., Verifone Systems, Inc., Fiserv, Inc., Ingenico S. A., First Data Corporation, MICROS Systems, Inc., Posiflex Technology, Inc., and Square, Inc., among others. Some of the major strategies employed by the leading players in the global mobile point of sale (mPOS) terminals market to enhance their industry positioning are acquisitions and geographical expansions.
For instance, First Data Corporation was acquired by Fiserv, Inc., in January of 2019 in order to extend its payment operations across the globe. This move will aid this particular player in the global mobile point of sale (mPOS) terminals market to offer their payment solutions across industries such as retail as well as banking.
