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Research details developments in the mobile POS (mPOS) hardware market estimated to reach USD 31667.8 million by 2022

IT Market Research

The author of the report analyzed that the Global mPOS Hardware Market accounted for US$ 4173.5 million in 2017.

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Global mPOS industry has witnessed exponential. mPOS is exposed to vulnerabilities such as cyber attacks and malwares.

These potential threats can create obstacles in the growth of the mPOS hardware market. However, the increasing connectivity has paved way for frictionless, efficient, and global outbound payment solution.

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The need to meet increasing consumer expectations can lead to a wider adoption of mPOS hardware.

The author of the report analyzed that the Global mPOS Hardware Market accounted for USD 4173.5 million in 2017.  The mobile POS terminals market has gained traction over the past few years owing to increased deployments in large retail chains across a wide number of store formats and regional markets.

For example, Apple, Home Depot, Nordstrom, Urban Outfitters, and Gucci are some of the large retailers and early adopters of mPOS terminals. Convergence of online and mobile payment channels at a time of significant growth of the mobile app and smartphone industry has been the major driving force for mobile POS terminal adoption.

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The global mPOS Hardware Market Estimated to Reach USD 31667.8 Mn by 2022, witnessing a CAGR of 11.2% during the forecast period of 2018-2026. mPOS systems are the final contact point of businesses that are employed to handle checkouts and payments.

Modern POS systems integrate multiple systems into single terminal, to handle a range of operations, including billing, cash collection, card payments, printing, data analysis,. The scope considered in our study includes hardware terminals, software deployed in these terminals, and related services.

mPOS systems also help increase the operational efficiency of businesses, by offering almost 24% saving in operations and high returns on investments.

Retail anticipated to be Dominant Segments During the Forecast Period 2018-2026

On the basis of verticals, the mPOS hardware market is segmented into restaurants, hospitality, healthcare, warehouse, retail, entertainment and many others. mPOS drives a personalized shopping experience.

Payments and new hardware are still emerging for new retail businesses. It’s growing at 9.2% a year according to Capterra via Quickbooks.

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Increasing Number of Smartphone Consumer Base to Drive the Growth of mPOS Hardware Market in Asia Pacific

The economic progress witnessed by countries in Asia Pacific, has led to a surge in the number of smartphone. Besides this factor, cheaper manufacturing processes in this region has also driven the number of smartphone users.

mPOS Hardware Market is Fragmented with the Presence of Global and Regional Players  

First Data Corporation, HP Development Company, L.P., Ingenico Group, NEC Corporation, Oracle, Panasonic Corporation, Posiflex technology, Inc., QVS Software, Inc., Samsung, Spectra Technologies Holdings Co. Ltd., Toshiba Corporation, Verifone, ZIH Corp.

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mPOS Hardware Market – By Technology

Hybrid Technology Solutions

EMV Chip and Pin

Magnetic-Stripe

Chip and Sign

Near Field Communication (NFC)

Biometrics

Others

mPOS Hardware Market – By Solution Type

Integrated Card Reader Solutions

Card Reader Accessories

Dongles

Sleeves

Market By Vertical

Restaurants

Hospitality

Health Care

Retail

Warehouse/Distribution

Entertainment

Transportation

Public Transport

Rental Cars and Intercity Buses

Government

Consumer Utility Services

Market By Region

North America

Europe

Asia Pacific

Middle East and Africa

Latin America

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