mPOS Terminals Market Set for
The global mobile point-of-sale (mPOS) terminals market had a valuation of $19.5 billion in 2019. According to the forecast of P&S Intelligence, a market research company based in India, the market will demonstrate a CAGR of 17.9% between 2020 and 2030. The prominent factors driving the expansion of the market across the world are the rising requirement for enhanced customer experience among businesses and the growing popularity of cashless transactions.
Businesses and retail outlets are increasingly adopting mobile POS solutions for enhancing the experience of their customers. Moreover, long check-out queues at large stores and markets usually result in the wastage of time of customers. The adoption of mobile POS terminals allows customers to complete the purchase of the product from the main product area in the store. This is done by digitally paying for the products right at the main product areas.
This way, the usage of mobile POS terminals mitigates the problem of long check-out queues and waiting hours, which, in turn, leads to greater customer satisfaction. This helps improve the brand image and builds brand loyalty and trust among customers. Apart from these factors, the rising popularity of cashless transactions is also fueling the surge in the demand for mobile POS terminals across the world. Based on component, the mPOS terminals market is divided into hardware and software.
Between the two, the software category is predicted to register faster growth in the market in the future years. This will be because of the rapid adoption of mPOS solutions for inventory management, customer relationship management, and sales forecasting. When deployment type is taken into consideration, the mPOS terminals market is classified into cloud and on-premises. Of these, the onpremises category registered higher growth in the market during the last few years.
This was because the on-site deployment of mPOS terminals provides several benefits such as the ability to customize the mPOS solutions according to the requirements of the store owners, lesser reliance on various third-party vendors, and greater control on the data. The market is also categorized, on the basis of application, into retail, hospitality, food service, warehouse, sports and entertainment, and healthcare. Amongst these, the retail category will register the highest growth in the market in the future.
This will be because of the increasing adoption of the point-of-sale technology by various retailers around the world. This technology helps retail outlets mitigate the issue of long queues and attain higher sales than before. For example, mPOS systems were deployed by Walmart Inc. for the quick on-the-spot check-out in as many as 350 stores in the U.S. in 2018. Globally, the market exhibited the highest growth in the Asia-Pacific (APAC) region in the past.
Furthermore, the APAC mobile POS terminals market is set for rapid expansion in the forthcoming years. The main factor driving the progress of the market is the rapid advancement of the healthcare, retail, and hospitality sectors, on account of the economic growth of regional countries such as China and India. Besides this, the presence of a flourishing retail industry and the rising popularity of contactless transactions are also contributing toward the growth of the market.
Hence, it can be said with certainty that the market will register huge expansion all over the world in the coming years, mainly because of the rising requirement for faster and contactless payment procedures and the growing demand for quicker check-out times in stores around the world.
Table Of Contents
Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.3.1 Market Segmentation by Component
1.3.2 Market Segmentation by Deployment Type
1.3.3 Market Segmentation by Application
1.3.4 Market Segmentation by Region
1.3.5 Analysis Period
1.3.6 Market Data Reporting Unit
1.3.6.1 Value
1.4 Key Stakeholders
Chapter 2. Research Methodology
2.1 Secondary Research
2.1.1 Paid
2.1.2 Unpaid
2.2 Primary Research
2.2.1 Breakdown of Primary Research Respondents
2.2.1.1 By region
2.2.1.2 By industry participant
2.2.1.3 By company type
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions for the Study
Chapter 3. Executive Summary
3.1 Voice of Industry Experts/KOLs
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Component
4.1.1.1 Hardware
4.1.1.1.1 Handheld terminal
4.1.1.1.2 Tablet
4.1.1.2 Software
4.1.2 By Deployment Type
4.1.2.1 On-premises
4.1.2.2 Cloud
4.1.3 By Application
4.1.3.1 Food service
4.1.3.2 Hospitality
4.1.3.2.1 Hotel & motel
4.1.3.2.2 Lodging establishment
4.1.3.2.3 Others
4.1.3.3 Healthcare
4.1.3.4 Retail
4.1.3.4.1 Convenience stores
4.1.3.4.2 Department stores
4.1.3.4.3 Supermarkets/hypermarkets
4.1.3.4.4 Discount stores
4.1.3.4.5 Specialty stores
4.1.3.5 Warehouse
4.1.3.6 Sports & entertainment
4.1.3.7 Others
4.2 Value Chain Analysis
4.3 Market Dynamics
4.3.1 Trends
4.3.1.1 Increasing preference for cloud-based mobile POS
4.3.1.2 Surge in contactless payments
4.3.2 Drivers
4.3.2.1 Emergence of cashless transactions
4.3.2.2 Increasing focus on enhanced customer experience
4.3.2.3 Impact analysis of drivers on market forecast
4.3.3 Restraints
4.3.3.1 Rising security concerns
4.3.3.2 Impact analysis of restraints on market forecast
4.3.4 Opportunities
4.3.4.1 Increasing number of restaurants
4.4 Porter’s Five Forces Analysis
Chapter 5. Global Market Size and Forecast
5.1 By Component
5.1.1 Hardware, by Type
5.2 By Deployment Type
5.3 By Application
5.3.1 Hospitality, by Type
5.3.2 Retail, by Type
5.4 By Region
Chapter 6. North America Market Size and Forecast
6.1 By Component
6.1.1 Hardware, by Type
6.2 By Deployment Type
6.3 By Application
6.3.1 Hospitality, by Type
6.3.2 Retail, by Type
6.4 By Country
Chapter 7. Europe Market Size and Forecast
7.1 By Component
7.1.1 Hardware, by Type
7.2 By Deployment Type
7.3 By Application
7.3.1 Hospitality, by Type
7.3.2 Retail, by Type
7.4 By Country
Chapter 8. APAC Market Size and Forecast
8.1 By Component
8.1.1 Hardware, by Type
8.2 By Deployment Type
8.3 By Application
8.3.1 Hospitality, by Type
8.3.2 Retail, by Type
8.4 By Country
Chapter 9. LATAM Market Size and Forecast
9.1 By Component
9.1.1 Hardware, by Type
9.2 By Deployment Type
9.3 By Application
9.3.1 Hospitality, by Type
9.3.2 Retail, by Type
9.4 By Country
Chapter 10. MEA Market Size and Forecast
10.1 By Component
10.1.1 Hardware, by Type
10.2 By Deployment Type
10.3 By Application
10.3.1 Hospitality, by Type
10.3.2 Retail, by Type
10.4 By Country
Chapter 11. Major Countries
11.1 U.S. Mobile POS Market
11.1.1 By Component
11.1.2 By Application
11.2 U.K. Mobile POS Market
11.2.1 By Component
11.2.2 By Application
11.3 Germany Mobile POS Market
11.3.1 By Component
11.3.2 By Application
11.4 China Mobile POS Market
11.4.1 By Component
11.4.2 By Application
11.5 India Mobile POS Market
11.5.1 By Component
11.5.2 By Application
Chapter 12. Competitive Landscape
12.1 List of Market Players and Their Offerings
12.2 Market Share Analysis of Key Players
12.3 Competitive Benchmarking of Key Players
12.4
12.4.1
12.4.2
Chapter 13. Company Profiles
13.2.1
13.2.2
13.5.1
13.5.3
13.6.1
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