Mobile POS Terminals Market share to hit $48bn by the next seven years

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mPOS Terminals Market forecast to grow with 19
CAGR to surpass USD 48 billion by 2023 Global
Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Industry Trends

• Rising demand from end use sectors like
  hospitality sector and retail sector is expected
  to boost industry expansion. mPOS devices are
  used in retail as well as hospitality sectors for
  enhancing user experience by preventing delays in
  processing of payments.
• Global (mPOS) Mobile POS terminals industry makes
  use of wireless devices to pay for products and
  services. Utilizing wireless systems can
  modernize many procedures like rental cabs,
  restaurants and purchasing food in stores. They
  help in reducing cost per each transaction in
  telecommunications industry by utilizing Wi-Fi
  devices, CDMA technologies and GPRS systems.
• Global acceptance of the equipments along with
  compatible software provide firms with portable
  sale convenience. Furthermore, these wireless
  systems enhance worker efficiency and eradicates
  time delay in sales and services.
• However, data security concern is a main
  challenge that has badly hindered the global
  (mPOS)mobile POS terminals market expansion and
  is also predicted to remain as an area of concern
  even during forecast period.

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Component Trends

• Global (mPOS)mobile POS terminals market is
  segmented into software components and hardware
  components.
• Software components segment is projected to
  exceed 9.6 billion and register a CAGR of higher
  than 22.1 by end of forecast timeline.
• Intelligent and proficient software
  synchronizes/co-ordinates screen terminal and
  barcode scanner functions to restore data as well
  as backup. It can also handle customer loyalty
  programs and detect purchasing patterns. All
  these factors are predicted to boost segment
  demand and growth.
• Hardware segment is projected to record CAGR of
  about 18.1 during forecast timeline.

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Application Trends

• Global (mPOS) mobile POS terminals market is
  segmented into retail application, entertainment,
  healthcare, restaurant, warehouse and
  hospitality.
• Retail application segment contributed higher
  than 30.1 to global industry share of 2015 in
  terms of revenue and is anticipated to record
  CAGR of about 17.9 during forecast timeline.
• Entertainment segment is anticipated to touch
  revenue mark of about 4.36 billion by end of
  forecast timeline. It consists of amusement
  parks, casinos and tourism and all of these
  require robust mPOS terminal systems to attract
  customers.

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Brazil Mobile POS Terminals Market size, by
application, 2012 - 2023 (USD Billion)

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Regional Trends

• Global (mPOS) mobile POS terminals market is
  segmented into North America, Asia Pacific,
  MEA(Middle East Africa), LATAM (Latin America)
  and Europe.
• North American industry is anticipated to record
  a CAGR of 18.4 during forecast period and is
  fueled by U.S. mobile POS terminals industry
  growth. Europe (mPOS)mobile POS terminals market
  price was higher than 3.1 billion in 2015.
• Rise in number of consumers due to increase in
  small medium sized firms and diminishing
  ownership costs is anticipated to favorably
  affect Asia Pacific (mPOS) mobile POS terminals
  industry trends.

Competitive Trends

• Key industry players include QVS Software
  Incorporation, Zebra Technologies, First Data
  Corporation, Oracle Corporation, Ingenico S.A.,
  Panasonic Corporation, HP Company, NEC
  Corporation, Posiflex Technology Incorporation,
  PAX Technology Limited and Verifone.

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