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Research details developments in the mobile POS market forecast 2014-2024

Research details developments in the mobile POS market forecast 2014-2024

A mobile POS or a mobile point of sale is a tablet, smartphone or relatively dedicated wireless device which performs the roles and functions of an electronic point of sale terminal or a cash register.

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Owing to the increasing advancements in wireless network technology, the global mobile POS terminals market is set to witness strong growth in the next few years.

Also, various benefits offered by mobile POS including portability, low upfront cost, positive return on investment and easy usage are some reasons which have collectively boosted the adoption of mobile POS as an alternative to the conventional retail applications. Also, emergence of mobile wallet technology and growing demand for NFC-based transactions are some other factors projected to fuel growth of global mobile POS market over the forecast period.

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Mobile POS technology allows the sales and service industries to perform financial transactions in easier way, thus enhancing the overall customer experience.

The global mobile POS market has attained an upsurge over the past years due to increasing use and adoption of mobile POS technology, especially in established retail chains across regional markets and a wide number of store formats. For instance, Home Depot, Apple, Urban Outfitters, Nordstrom, Gucci.

are some of the key retailers and early adopters of mobile POS technology. Also, convergence of mobile and online payment methods, at the time of steady growth of the smartphone and mobile app market is another key factor behind the rapid and significant growth of mobile POS market.

With the advent of feasible wireless network communication technologies, an increased consumer preference for advanced mobile POS technology has been witnessed over the past few years. In addition, low cost of mobile POS devices as well as speedier checkout transactions aids in meeting the targeted sale and enhances the overall labor efficiency.

However, factors such as concerns related to data security coupled with the government regulations and certifications are anticipated to hinder the growth of global mobile POS market over the forecast period.

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North America is anticipated to maintain its dominance in the global mobile POS market over the forecast period owing to the rapidly increasing adoption of advanced technology in the form of mobile POS devices, swiping machines and smartphones among others. However, Asia-Pacific region is projected to account for the highest and fastest growth potential in the global mobile POS market owing to the increasing per capita disposable income and increasing technological advancements in developing countries such as Japan, China, Korea, Indonesia and others.

Moreover, other emerging markets such as Latin America and Middle East & Africa are projected to tender bright opportunities for the growth of global mobile POS market over the forecast period.

The global mobile POS market can be stratified on the basis of component, application and region. On the basis of component, the global mobile POS market can be segmented into hardware and software.

On the basis of application, the global mobile POS market can be segmented into restaurants, hospitality, healthcare, retail, warehouse, entertainment and others. By geography, the global mobile POS market can be segmented into North America, Latin America, Europe, Middle East & Africa (MEA) and Asia-Pacific.

Major players operating in the global mobile POS market are focusing on some key market strategies such as mergers and acquisitions to keep hold in the ever competitive market. Moreover, they are concentrating on collaborating with local players to increase their market reach as well as strengthen their goodwill in the global market.

Key players in the global mobile POS market include Verifone, Ingenico, Oracle (MICROS Systems), First Data Corporation and Zebra Technologies (Motorola Enterprise Solutions) among others.

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Market Segmentation

Market by Component

Hardware

Software

Market by Application

Restaurants

Healthcare

Hospitality

Retail

Entertainment

Warehouse

Others

Market by Geography

North America

o US

o Canada

o Mexico

Europe

o UK

o Germany

o France

o Rest of Europe

Asia-Pacific

o China

o Japan

o India

o Philippines

o Rest of Asia-Pacific

Latin America

o Brazil

o Chile

o Rest of Latin America

Middle East and Africa (MEA)

o South Africa

o Saudi Arabia

o Rest of MEA

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Category: Market Research Publishers and RetailersCompany profile: Acumen Research and Consulting (ARC) is a global provider of market intelligence and consulting services to information technology, investment, telecommunication, manufacturing, and consumer technology markets. ARC helps investment communities, IT professionals, and business executives to make fact-based decisions on technology purchases and develop firm growth strategies to sustain market competition. With the team size of 100+ Analysts and collective industry experience of more than 200 years, ...