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Mobile Point Of Sales (mPOS) Terminals Market By Component (Hardware, Software), By End-Use (Restaurants, Hospitality, Healthcare, Retail, Transportation And Warehouse, Sports And Entertainment) - Growth, Share, Opportunities & Competitive Analysis, 2015 - 2022

With the advancements in wireless technology, the mobile POS terminals market is set to witness strong growth in the next few years. Benefits offered such as low, upfront cost, portability, easy usage, and a positive return on investment have collectively spurred the adoption of mobile POS terminals beyond the traditional retail applications. The emergence of mobile wallet technology and increasing NFC-based transactions are expected to drive market growth during the forecast period. These factors are expected to contribute toward a compounded annual growth rate (CAGR) of 23.2% and 42.1% for revenue and volume, respectively, during the forecast period 2015 – 2022. Although security concerns related to data breaches had plagued the adoption of mobile POS terminals initially, the recent move towards more secure chip card technology is expected to subdue the impact of this challenge over the forecast period. The mobile Point-of-Sale terminals market is expected to reach US$ 43.32 Bn by 2022, expanding at a CAGR of 23.2% from 2015 to 2022. In terms of volume, the mobile POS terminals market is expected to register 242.97 Mn shipments by 2022. 

1.1 Report Description

Purpose of the Report

The purpose of this strategic research study titled “Global Mobile POS (mPOS) Terminals Market- Growth, Share, Opportunities, and Competitive Analysis, 2015 – 2022” is to offer industry investors, company executives, and industry participants in-depth insights to enable them to make informed strategic decisions related to the opportunities in the global mPOS terminals market.

Target Audience

  • Industry Investors
  • mPOS Terminal Hardware Providers/Vendors
  • mPOS Terminal Software Providers
  • SMBs and Micro-merchants
  • Other End-users

End-use Segmentation Analysis

On the basis of end-use, the mobile POS terminals market is categorized into the following verticals:

  • Restaurants (Quick Serve Restaurants, Bars, Food Chains, etc.)
  • Hospitality (lodging establishments, hotels, motels, etc.)
  • Healthcare
  • Retail
  • Transportation and Warehousing
  • Sports and Entertainment
  • Others (Field Services, Government, etc.)

Retail was the largest end-use segment in the global mobile POS terminals market, accounting for over one-third of the global market revenue and shipments in 2014. The penetration rate of mobile POS terminals has been the highest in the retail segment, especially among micro-merchants. However, there also lie potential growth opportunities with larger merchants. Mobile Point of Sale Terminal solutions enables larger merchants to enhance the in-store buying experience of their customers and offer a sales force with an integrated payment capability.

Based on types of components, the global mobile POS terminals market is segmented into the following categories

  • Mobile POS Terminal Hardware
  • Mobile POS Terminal Software

In 2014, the hardware components, including tablets (generally an iPad), smartphones paired with a credit/debit card reader, and handheld terminals, accounted for the majority of the market revenue share. Although the hardware segment is expected to remain the largest revenue contributor to the global mobile POS terminals market, the software segment is expected to witness comparatively higher growth during the forecast period 2015 -2022. Since mPOS hardware has become a commodity, vendors across the globe have switched their focus toward the more profitable software and services business.

A Mobile Point-Of-Sale terminal is a tablet (generally an iPad), smartphone, or any dedicated wireless device capable of performing functions of an electronic point-of-sale terminal or cash register. The idea of converting a tablet or smartphone into a payment acceptance device was first introduced by Square Inc. in 2009. This simple innovation soon caught the imagination of the world, resulting in the emergence of a host of competitors across the POS terminal industry. Today, mPOS solutions have been adopted in all parts of the world, complementing the traditional fixed POS systems by augmenting functionalities. Thus, mobile Point of Sale solutions has extended the landscape of the electronic payments industry by capitalizing on the prevailing trend toward mobile services.

Mobile Point-Of-Sale solutions allow merchants, including street vendors, door-to-door salespeople, and in-house sales associates, to easily accept payments via their mobile devices. Merchants, who were reluctant to accept card payments and operated on an invoice or cash-only basis, have started adopting mobile POS solutions owing to the following benefits offered:

Lower Total Cost of Ownership

Mobile POS solutions are either offered for free as a part of a service bundle or are available at a very low cost as compared to the traditional POS terminal stations. Furthermore, since most merchants already own a smartphone or tablet, it eliminates the additional expense associated with the purchase, installation, and maintenance.

Portability

Mobile POS solutions offer better portability and greater ease of use, both of which are crucial for mobile merchants with no fixed place of business.

Flexibility and Better User Interface (UI)

Mobile POS solutions support flexible software development platforms that can be easily integrated with existing environments. In addition, mobile solutions also offer user-friendly UIs for both consumers and merchants.

Although mobile POS solutions have been around for a number of years (introduced in the latter half of the last decade), they have failed to realize their full potential till as recently as the first half of this decade. However, the proliferation of personal mobility devices and capabilities coupled with the low upfront cost is expected to fuel their adoption beyond the core retail and hospitality segment in the coming years. Thus, what began as a service for small-sized businesses unable to accept card payments, is eventually expected to become the means for extending the reach of larger enterprises. Mobile POS vendors across the globe have already started positioning mobile POS solutions as add-ons to the traditional fixed POS systems capable of transforming customer-business interaction and enriching the customer buying experience.

On the basis of geography, the global mobile POS terminals market is segmented into the following regions and countries.

North America

  • The U.S.
  • Rest of North America

Europe

  • EU7
  • CIS
  • Rest of Europe

Asia Pacific

  • Japan
  • China
  • Indian Subcontinent
  • Rest of Asia Pacific

Rest of the World

  • Latin America
  • The Middle East and Africa

Mobile Point of Sale (mPOS) terminals have brought a new dynamism to the global mobile proximity payments market. Although the demand for mPOS solutions have been predominant in mature markets like North America and Europe, there exist healthy growth opportunities for mPOS solutions in emerging markets having a very large base of small and micro merchants with limited penetration of traditional Point of Sale (POS) terminals. Over the forecast period, we expect rising adoption of mPOS solutions in the more mPOS-ready markets such as the Asia Pacific and RoW, as service providers seek to achieve a first-mover advantage.

Frequentlu Asked Questions

The market for Mobile Point Of Sales (mPOS) Terminals is expected to reach US$43.32 bn in 2028.

The Mobile Point Of Sales (mPOS) Terminals market is expected to see significant CAGR growth over the coming years, at 23.2%.

The report is forcasted from 2015-2022

The base year of this report is 2021.

Verifone Systems, Inc., Ingenico S.A., PAX Technology Ltd., NCR Corporation,MICROS Systems, Inc.(Oracle Corporation), Panasonic Corporation, Toshiba Tec Corporation, Hewlett Packard, Samsung Electronics Co., Ltd.,First Data Corporation, Posiflex Technology Inc., Square Inc. are some of the major players in the global market.

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Trusted By
Godaddy
Published Date:  Mar 2016
Category:  Semiconductor & Electronics
Report ID:   57717
Report Format:   PDF
Pages:   120
Rating:    4.3 (60)
Delivery Time: 24 Hours to 48 Hours   
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