Point of sale device (mPOS) performs the function of electronic point of sale terminal or cash register with the help of a smartphone, tablet or dedicated wireless device. The market for mobile point-of-sale (mPOS) devices is predicted to grow to US$ 21 billion in 2022 and to US$ 140.2 billion by 2032, with a CAGR of 20.9 percent from 2022 to 2032.
Mobile point of sale devices (mPOS) are wireless devices and process the payments from various methods like credit cards and debit cards, recently the Mobile point of sale device services are extended to mobile wallets and NFC as well. Mobile point of sale device (mPOS) are cost efficient and suitable for all types of businesses, Mobile point of sale device is equipped with SIM card slot which enables the merchants at remote locations to operate smoothly.
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Mobile point of sale device eliminates a single point of check out for big business which enhances customer buying experience.
Mobile point of sale Devices (mPOS) Market Drivers and Restraints
Key driver for Mobile point of sale (mPOS) devices includes low cost of devices.
Mobile point of sale devices (mPOS) can be equipped with any existing smartphone, mobility is another key driver for the Mobile point of sale device market, Mobile point of sale devices can be operated at any remote locations and supports the merchants who has no fixed place, other drivers include high level of customization basing on the requirement of the customer.
Mobile point of sale devices also offers the customers with centralized data base management.
Migration from conventional POS systems to Mobile point of sale devices (mPOS) system is one of the key restrains for the market.
Preference for cash transactions rather than Mobile point of sale devices (mPOS) transactions by micro and small merchants is another restraint for Mobile point of sale devices market.
Security risks associated with Mobile point of sale device is also one of the key restraints.
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Mobile point of sale (mPOS) Devices: Regional Outlook
On the basis of regions, Mobile point of sale (mPOS) Devices can be segmented into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, and Middle East and Africa.
North America and Western Europe Mobile point of sale (mPOS) Devices market is predominantly mature as compared to the other regional market as they are fast in the adoption of technology.
Mobile point of sale (mPOS) Devices in Asia Pacific excluding Japan and Japan are expected to possess maximum potential in the forecast period.
Mobile point of sale (mPOS) Devices in Latin America and Middle East and Africa are also projected to witness positive growth during the forecast period.
Mobile point of sale (mPOS) Devices market: Competition Landscape
Key vendor in the Mobile point of sale (mPOS) Devices market includes VeriFone Systems Inc, Square Inc, First Data Corp, LifePay ZAO, Upserve Inc, Paynear Solutions Private Limited, CardFlight, Inc. Ingenico Group, Zebra Technologies Corp, Hewlett-Packard Development Company, L.P.
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Regional analysis for Mobile point of sale (mPOS) Devices market includes the development of these systems in the following regions
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Europe
- Western Europe
- Germany
- France
- U.K.
- Spain
- Italy
- Nordic
- BENELUX
- Rest of Western Europe
- Western Europe
- Eastern Europe
- Russia
- Poland
- Rest of Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- India
- ASEAN
- Rest of Asia Pacific
- Japan
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
Mobile point of sale Devices (mPOS): Market Segmentation
Mobile point of sale devices market is mainly segmented by
By Solution Type
- Integrated Card Reader Solutions
- Card Reader Accessories
- Dongles
- Sleeves
By Technology
- Hybrid Technology Solutions
- EMV Chip
- Pin Magnetic-Stripe Chip
- Sign Near Field Communication (NFC)
- Biometrics
By End-use
- Hybrid Technology Solutions
- Restaurant Hospitality (Lodging)
- Healthcare
- Retail Warehouse/Distribution
- Entertainment
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