Overview and Scope
mPOS (mobile point-of-sale) terminals refer to smartphones, tablets, or other wireless devices that may wirelessly execute the tasks of a cash register or electronic point-of-sale terminal (POS terminal). An mPOS terminal is used to accept payments from digital wallets as well as credit, debit, and other card types.
Sizing and Forecast
The mpos terminals market size has grown rapidly in recent years. It will grow from $34.72 billion in 2023 to $41.25 billion in 2024 at a compound annual growth rate (CAGR) of 18.8%. The growth in the historic period can be attributed to emergence of smart devices, shift in payment behavior, market entry of new players, regulatory changes, market consolidation..
The mpos terminals market size is expected to see rapid growth in the next few years. It will grow to $83.48 billion in 2028 at a compound annual growth rate (CAGR) of 19.3%. The growth in the forecast period can be attributed to market penetration, rise in digital transactions, e-commerce integration, remote work and transactions, consumer behavior shifts.. Major trends in the forecast period include ai and analytics integration.
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Segmentation & Regional Insights
The mpos terminals market covered in this report is segmented –
1) By Component: POS Terminals, POS Software, Services
2) By Solution: Hardware, Software
3) By Deployment: On-Premise, Cloud-Based
4) By Application: Entertainment, Healthcare, Hospitality, Restaurant, Retail, Warehouse, Other Applications
North America was the largest region in the mPOS terminals market in 2023. The regions covered in the mpos terminals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The rising use of digital payments is expected to boost the growth of the mPOS terminal market going forward. Digital payments refer to transactions that happen online or through digital channels without a physical exchange of money. Through near-field communication (NFC), which enables contactless payments by allowing users to wave one device over another NFC-compatible device, mobile POS systems can take payments through digital wallets. For instance, according to a report published by the World Bank, a US-based provider of financial products and technical assistance, in 2022, globally, 76% of adults have a bank, other financial institution, or mobile money provider account as of 2021. Worldwide, two-thirds of adults currently send or receive digital payments, with developing economies accounting for an increasing share to 57% in 2021. Therefore, the rising use of digital payments is driving the growth of the mPOS terminal market.
Key Industry Players
Major companies operating in the mPOS terminals market report are Ingenico Group, PAX Global Technology Limited, NCR Corporation, Oracle Corporation, VeriFone Inc., AURES Group, Fiserv Inc., Intuit Inc., New POS Technology Ltd., Newland Auto-ID Tech. Co. Ltd., Panasonic Holdings Corporation, PAR Technology, Posiflex Technology Inc., Square Inc., Zebra Technologies Corp., BBPOS Limited, Bitel Co. Ltd., Diebold Nixdorf Incorporated, First Data Corporation, Fujian Newland Payment Technology, HP Development Company L.P., Micros Systems Inc., NEC Corporation, SAMSUNG ELECTRONICS, Shenzhen Zhengtong (SZZT) Electronics Co Ltd., Adyen N.V., iZettle AB, PayPal Inc., Sage Pay Limited, SumUp Payments UAB .
The mpos terminals market report table of contents includes:
1. Executive Summary
2. MPOS Terminals Market Characteristics
3. MPOS Terminals Market Trends And Strategies
4. MPOS Terminals Market – Macro Economic Scenario
5. Global MPOS Terminals Market Size and Growth
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31. Global MPOS Terminals Market Competitive Benchmarking
32. Global MPOS Terminals Market Competitive Dashboard
33. Key Mergers And Acquisitions In The MPOS Terminals Market
34. MPOS Terminals Market Future Outlook and Potential Analysis
35. Appendix
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