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Mobile Point of Sale Market

Mobile Point of Sale Market

Mobile Point of Sale (mPOS) Market Analysis by Solution Type (Integrated Card Reader Solutions, Card Reader Accessories), by Technology (Hybrid Technology Solutions, EMV Chip and Pin, Magnetic-Stripe, Chip and Sign, NFC, Biometrics), by End Use & Region - Global Forecast 2022-2032

Mobile Point of Sale Market
FACT7305MR
  • May-2022
  • List of Tables : 72
  • List of Figures : 101
  • 170 Pages
  • Technology

Global Mobile Point-of-Sale Market Outlook

The mobile point-of-sale market is predicted to grow at an impressive CAGR of 33.5%. It is estimated to reach a value of nearly US$ 446.3 Billion by 2032 from US$ 17 Billion in 2021.

Attributes

Details

Mobile Point-of-Sale Market Size (2021)

US$ 17 Bn

Mobile Point-of-Sale Market Value (2022)

US$ 23 Mn

Mobile Point-of-Sale Market Value (2032)

US$ 446.3 Bn

Mobile Point-of-Sale Market Growth Rate (2022-2032)

33.5%

Market Share of Top 5 Countries

65.3%

Mobile Point-of-Sale Market Key Players

  • Bixolon Co., Ltd.
  • Citizen Systems Europe GmbH
  • Dspread Technology, Inc.
  • First Data Corporation
  • Hewlett-Packard Development Company L.P.
  • Ingenico S.A.
  • Intuit, Inc.
  • Zettle
  • Oracle Corporation (MICROS System, Inc.)
  • Pax Technology Ltd.
  • Paypal Holdings, Inc.
  • Posiflex Technology, Inc.
  • Recruit Holdings Co., Ltd.
  • Square, Inc.
  • VeriFone Systems, Inc.
  • Zebra Technologies Corp.

“With everyone’s growing determination for cashless transactions, the global mobile point-of-sale (mPOS) market size has gained a lot of traction in the last few years."

A handheld POS system is a low-cost technology emerging as an appropriate device for both small and large businesses alike, creating a huge demand for it in the present market.

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What is the Covid-19 Impact on Global Mobile Point-of-Sale Market?

COVID-19 brought the business of the entire planet to a halt, indirectly impacting the financial system thriving over it. This market analysis report by Fact.MR recognizes that the current mobile point-of-sale (mPOS) market size is still reeling under its repercussions.

Rising government and corporate backing might aid in reviving the economy to its earlier Position. However, several changes in the general market operations ushered in during the pandemic years have resulted in the best POS market.

Some industries failed, while several others boomed in the aftermath of the Covid-19 pandemic promising a favorable market for POS android devices and iPad POS systems.

What are the Present Dynamics Driving the Global Mobile Point-of-Sale Market?

“The ongoing shift in retail payment methods through electronic devices replacing the hard cash has prompted many companies and individuals throughout the world to embrace sophisticated handheld point-of-sale systems and fuel its market growth.”

What are the Driving Factors for the Global Mobile Point-of-Sale Market in the Forecast Years?

Markets of many developed and emerging economies have witnessed POS android devices getting more popular than the customary payment methods as a card acceptance option. Also, the convenience of using a portable POS device and the cheap TCO or total cost of operation provided by POS tablet for the industry is expected to develop rapidly in the forthcoming years.

The technological potentiality of wireless POS systems to connect with smartphones or tablets by means of a mobile card reader is accelerating its engagement across several markets. Furthermore, the low installation cost of mobile point of sale systems, along with the ability to provide value-added services for long-term operations, are the prominent reasons for piquing merchants’ and retailers’ interest.

Deployment of the best mobile point-of-sale is highly favored by public governance systems owing to its ability to disseminate clear pricing and transparency for money transfer.

The global mobile point-of-sale market is likely to grow exponentially in the coming years as a result of such potential interests of diverse end use sectors.

What are the Major Challenges Experienced by the Mobile Point-of-Sale Market Players?

A surge in cybercrime or fraud activities over marketplaces has surfaced as a major plight in the digital space, along with the growth of demand for mobile point-of-sale systems. Trust issues pertaining to less awareness about the technological features of a wireless POS system can pose a major hindrance to the higher sales of mobile point-of-sale devices or terminals.

Storage and maintenance of the gigantic volume of data incurred through the transactions carried out through the POS tablet or any type of POS android device is a serious challenge that needs to be urgently overcome by the global mobile point-of-sale market players.

Digital solution companies developing POS software for mobile shops and others need to develop more robust and efficient systems to keep track of the ever-increasing flow of payments over portable POS devices at any location.

Comparative View of Adjacent Mobile Point-of-Sale Market

Attributes

Mobile Point-of-Sale Market

Cloud Point-of-sale Market

Mobile Payment Technologies Market

CAGR

(2022-2032)

33.5%

24%

25.6%

Market Value

(2027)

US$ 97.5 Bn

US$ 50 Bn

US$ 5 Tn

Growth Factor

Demand for cashless transactions by the customers around the world.

Growing emphasis on business process optimization and globalization.

Stress on contactless payment methods during the Covid-19 pandemic.

Opportunity

Emphasis of international organizations to strengthen cashless economy.

Increasing spending over acquiring digital assets to create more opportunities.

Up gradation of social network sites to provide digital payment gateways.

Key Trends

Increasing number of users with the prices of smart devices dropping down.

Rising volume of retail over e-commerce platforms to drive the market further.

Digitization of most of the commercial activities by the business owners.

Various central banks and government financial institutions are providing incentives and support to encourage POS for android system, which is projected to contribute significantly to the growth of the mobile point-of-sale (mPOS) market size. As more users choose mobile POS systems for small businesses, the total count of portable POS devices in the market is predicted to grow with the growing volume of start-ups and SMEs. 

The potential of mobile POS machines to integrate payment and collect data about customers and improve their in-store experiences has attracted large businesses to adopt it.

The prospects for POS tablets in the contemporary market have also been driven by the fast-expanding demand for computerized payment systems. Rising users of smart electronic devices in the past decade have also propelled the POS market growth and are anticipated to further complement the mobile point-of-sale (mPOS) market size at various levels.

Over the years, the sale of mobile point-of-sale terminals has escalated with improving operating algorithms and conventional mobile computing devices. The application of point-of-sale tablets by including some advanced features like invoice management, inventory management, or customer relationship management is expected to take the mobile POS device with the printer a long way in the global market.

An Adaptive Approach to Modern-day Research Needs

What is the Performance for the Mobile Point-of-Sale Market in Various Segments?

“Dedicated wireless POS system, POS tablet and smartphones can perform the functions of transitional electronic point-of-sale terminals while being untethered and accessible from anywhere. The performance and demand for mobile point-of-sale devised is envisioned to gain foothold over such robust technological foundation.”

What are the Different Segments of the Mobile Point-of-Sale Market According to the Solution Type?

According to the generically analysed mobile POS machine market statistics, the growth rate of integrated card reader solutions has regained over the integrated card reader accessories segment. Integration of better-performing software and complicated algorithms as per the demand of mobile point-of-sale users, the integrated card reader solutions segment is poised to register a CAGR of 40.5% during the forecast years.

Which is the Better Performing Segment for the Global Mobile Point-of-Sale Market on the Basis of Technology?

During the projected period, the hybrid technology solutions are expected to be the dominating segment of the global mobile point-of-sale (mPOS) market based on technology.

It has replaced the EMV chip and pins technology segment by registering a higher growth rate of 48.4% for the forecast years 2022 to 2032. The total contribution of the hybrid technology solutions is estimated to be around 20% by the end of the year 2032 rising up from 7.5% in the 2022 mobile POS market.

Other essential technologies integral to the development of portable POS devices are also evolving in tandem. For instance, the Apple IPad POS system that was released with iOS 11 allows for NFC enabled applications and is intended to attain a leading position in the future market.

Which are the Prominent End-Use Industries for the Global Mobile Point-of-Sale Market?

In other aspects, such as categorization of the market on the basis of several end users, retail sectors are discerned to be the largest contributor to the sales of mobile point-of-sale devices.

In the past few years, the demand for mobile point-of-sale, particularly the best mobile POS system for food trucks, has witnessed tremendous growth in the emerging economies. In parallel to the improving economic condition and consumption rate, the overall volume of mobile retail POS systems is destined to be the most popular product in the global POS market.

How are Different Geographical Regions Performing for Mobile Point-of-Sale Market?

Region

CAGR (2022 to 2032)

United States (US)

32.9%

United Kingdom (UK)

33%

China

40.2%

Japan

40.8%

India

57.8%

By 2016, Europe dominated the worldwide mobile point-of-sale market occupying almost 34% of the total revenue generated. The widespread use of cloud computing technologies has considerably impacted the expansion of POS terminals in the European market.

The growth of the mobile POS Market of North America has remained mostly at a moderate level, with the USA contributing the largest share at around US$ 5.5 Bn in 2022.

On the other hand, Asia Pacific countries are noticed to be growing at a remarkable rate following the upsurge of digital literacy and the IT industry in the past decade. India is scrutinized to be the most notable region for the sales of mobile point-of-sale devices, with an astounding growth rate of 57.8% projected for the upcoming years.

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What is the Competitive Scenario for the Mobile Point-of-Sale Market?

In the present time leading competitors of the global mobile point-of-sale market are battling to for top positions by developing and increasing their product offerings. In conjunction with mobile POS software and hardware, prominent players are progressively diversifying their company portfolios by offering value-added services.

What are the Recent Developments in the Field of Mobile Point-of-Sale Market?

  • Visa, Inc. Partnered with Clip Company in November 2019 to boost the its sales of mobile point-of-sale and tablet POS systems among the retailers in Mexico.
  • Samsung Electronics teamed up with Mobeewave Inc. In October 2019 to introduce highly secure, contactless and NFC-enabled payment acceptance over its mobile devices.

Key Segments

  • By Solution Type :

    • Integrated Card Reader Solutions
    • Card Reader Accessories
      • Dongles
      • Sleeves
  • By Technology :

    • Hybrid Technology Solutions
    • EMV Chip and Pin
    • Magnetic-Stripe
    • Chip and Sign
    • Near Field Communication (NFC)
    • Biometrics
  • By End Use :

    • Restaurants
    • Hospitality
    • Health Care
    • Retail
    • Warehouse or Distribution
    • Entertainment
    • Transportation
      • Public Transport
      • Rental Cars and Intercity Buses
    • Government
    • Consumer Utility Services
  • By Region :

    • North America
    • Latin America
    • Europe
    • Asia Pacific
    • Middle East and Africa (MEA)

- FAQs -

The global mobile point-of-sale market is likely to record a CAGR of 33.5% during the forecast period.
The global mobile point-of-sale market is predicted to be valued at US$ 446.3 Bn by 2032.
The global mobile point-of-sale market was valued at merely US$ 17 Bn in 2021.
North America accounts for the largest revenue share in the global mobile point-of-sale market accounting for more than 25% of the total revenue.
Asia Pacific region is predicted to perform best in the growth of mobile point-of-sale market.

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Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

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Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

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