Mobile Point of Sale (mPOS) Market to Reach $64.79 Billion by 2031: TMR دراسة Study

  • The rapid pace of product adoption by SMEs and small merchants presents huge opportunities for service providers in the mobile point of sale (mPOS) market; Companies that provide value-added and personalized services to generate revenue
  • Product differentiation strategy to unlock new opportunities; Asia Pacific To witness broad profitable avenues, backed by the growing application of mPOS devices in emerging economies

Wilmington, Dale.And the August 8, 2022 /PRNewswire/ – Mobile Point of Sale (mPOS) terminals are in high demand among major retailers, mainly due to their role in improving the in-store shopping experience. The growing trend of using devices for digital transactions has prompted sellers to offer integrated payment solutions based on NFC and QR through point-of-sale terminals. The global mobile point of sale (mPOS) end market is expected to grow at a CAGR of 15.1% from 2022 to 2031.

Emerging economies are expected to provide first-mover advantages to many mPOS market players. The continued expansion of the customer base for the use of payments via NFC, Europay, Master Card and Visa (EMV) is widening the way. Solution providers emphasize the multiple key benefits of Mobile Point of Sale (mPOS) for merchants in the restaurant, hospitality, and retail industries.

The mPOS application has enabled companies in the retail and hospitality industries to increase customer engagement and manage inventory management. A concrete example is the use of POS terminals to keep track of loyalty programmes. Demand from SMEs and small merchants is creating huge revenue potential in the mobile point of sale (mPOS) market.

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Mobile Point of Sale (mPOS) Terminal Market Research Key Findings

  • Suppliers that provide value-added services to generate significant profits: The major vendors in the Mobile Point of Sale (mPOS) market are geared towards offering enhanced products. They provide services to add value to their offerings. These include the use of mPOS devices to provide end users with mobile phone discounts, and promotions such as gift cards and coupons. Moreover, the study revealed that their relentless focus on product differentiation will open up new profitable avenues in the mobile point of sale (mPOS) market. The decline in total cost of ownership (TCO) is encouraging small and medium businesses and small merchants to increasingly adopt mPOS terminals.
  • The future of digital payments: Mobile Point of Sale (mPOS) –mPOS solutions are expected to shape the future of digital payment. This is largely due to the increasing trend of smartphone penetration. The increasing use of smart devices such as tablets for digital transactions will enrich the prospects of mobile point of sale (mPOS) terminals. For example, POS service providers have recently preferred to waive monthly fees and reduce maintenance fees to attract merchants.

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Mobile Point of Sale (mPOS) Terminal Market: Key Drivers

  • The rise in digital payment along with the massive penetration of smart devices among retailers of all sizes is a major driver of the mobile point of sale (mPOS) market.
  • Advances in payment technologies, especially in EMV and NFC, backed by governments to enhance digital payments, are a major driver for the application of Mobile Point of Sale (mPOS) terminals.

Mobile Point of Sale (mPOS) Terminal Market: Regional Growth Momentum

  • The Asia Pacific The Mobile Point of Sale (mPOS) Terminal Market is expected to grow at the most attractive CAGR during the forecast period 2022-2031. The region is seeing significant lucrative opportunities from the growing trend of using NFC-enabled debit and credit cards for payment among consumers in the retail sector. In addition, government initiatives to expand digital payments in emerging economies have stimulated growth. In addition, the increasing number of mobile micrometers in some countries has led to an increase in sales of mPOS terminals.
  • North Amarica It captured the largest share of the global mobile point of sale (mPOS) market in 2021. The adoption of mPOS solutions by large and small merchants has led to revenue growth.

Mobile Point of Sale (mPOS) Terminal Market: Major Players

Some of the major players in the Mobile Point of Sale (mPOS) market are Toast, Inc., Newland Payment Technology, NCR Corporation, Oracle Corporation, Lightspeed, Clover Network, Inc., NEC Corporation, Intuit, Inc., Square, Shopify Inc. and VeriFone, Inc. and Ingenico Group SA

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Mobile Point of Sale (mPOS) Market Segmentation

  • manufacturing
    • point of sale terminals
    • point of sale software
    • providing service
      • Integration and Implementation
      • Support and maintenance
  • end user
    • the details
    • Restaurants
    • Health Care
    • hospitality
    • entertainment
    • the others

countries

  • we
  • Canada
  • Germany
  • United kingdom
  • France
  • Spain
  • Italia
  • Russia & IEC
  • Japan
  • China
  • India
  • ASEAN
  • Brazil
  • Mexico
  • GCC
  • South Africa

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