According
to a new study published by Polaris Market Research the worldwide mobile
POS terminals market is anticipated to reach over USD 81.3
billion by 2026. In 2017, the hardware component dominated the global market,
in terms of revenue. North America is expected to be the leading contributor to
the global market revenue during the forecast period.
The rising number of cashless
transactions and growing need for digital payments primarily drive the growth
of this market. Mobile POS solutions enable users to conduct financial
transactions at remote locations with increased convenience and ease. Growing
proliferation of mobile devices, increasing internet penetration, and
technological advancement boosts the adoption of mobile POS terminals. Mobile
POS terminals are also capable of accepting payments through EMV chip-enabled
cards, contact-less cards, and NFC enabled cards.
Sample Copy
@ https://www.polarismarketresearch.com/industry-analysis/mobile-pos-terminals-market/request-for-sample
Mobile POS terminals are used by
business to enable faster and easier checkouts. These terminals provide quicker
checkouts during high volume transactions, thereby increasing customer
experience. Mobile POS terminals are integrated with mobile devices such as
smart phones and tablets, which offer benefits such as reduced serving time,
higher workforce efficiency, while improve customer experience. These terminals
are connected to inventory management systems, to further improve efficiency.
Mobile POS terminals allow users to send digital receipts to consumers for
better organization, and ease of use. Small businesses are increasingly
adopting mobile POS terminals for increased profitability. Mobile POS terminals
offer enhanced security as transactions are encrypted and not stored on
devices. The declining prices of mobile devices, increasing demand for portable
& wearable devices, rising NFC-based transactions, and technological
advancements further supplement the growth of mobile POS terminals. The rising
adoption of cloud-based and Android POS devices also boosts market growth.
Integration of mobile wallet payments with mobile POS terminals to offer
additional payment options to users is expected to create numerous growth
opportunities in the coming years.
North
America generated the highest revenue in the market in 2017, and is expected to
lead the global market throughout the forecast period. The growing adoption of
advanced NFC and EMV-enabled devices with the aim to minimize frauds and
security breaches related to payments are driving growth in this region.
Increasing penetration of mobile devices, affordable mobile POS terminals, and
growing acceptance by small and medium-sized businesses further supports market
growth in this region. The use of POS terminals in varied industries such as
healthcare, retail, and hospitality among others accelerates its adoption.
On the basis of components, the
global mobile POS terminals market is segmented into hardware components, and
software components. The hardware components include mobile devices, bar code
scanner, and magnetic strip reader. The hardware is used across various
industries with software varying according to industry specific requirements.
The software segment is expected to grow significantly in the coming years
owing to additional features offered such as customer loyalty programs,
employee management, and business process monitoring. Growing adoption of
cloud-based mobile POS solutions would also supplement market growth.
Any Special Requirement Speak to our Expert @ https://www.polarismarketresearch.com/industry-analysis/mobile-pos-terminals-market/speak-to-analyst
The various end-users of mobile POS
terminals include retail, restaurants, healthcare, hospitality, and others. The
retail sector is expected to dominate the market throughout the forecast period
owing to high demand from large supermarkets and hypermarkets, grocery and
departmental stores, and specialty retail stores among others. The retail
sector is turning to mobile POS solutions to cater to the high volume of fast
checkouts. Use of POS terminals in the retail sector ensures faster service,
provides data related to past transactions, offers customer loyalty solutions,
and reduces human errors.
The well-known companies profiled
in the report include VeriFone Systems, Oracle Corporation, Ingenico S.A., Pax
technology Limited, Squirrel Systems, Toshiba Corporation, Posiflex Tachnology,
Panasonic Corporation, NEC Corporation, and Hewlett-Packard Company. These
companies launch new products and collaborate with other market leaders to
innovate and launch new products to meet the increasing needs and requirements
of consumers.
About
Polaris Market Research
Polaris Market Research is a global
market research and consulting company. The company specializes in providing
exceptional market intelligence and in-depth business research services for our
clientele spread across different enterprises. We at Polaris are obliged to
serve our diverse customer base present across the industries of healthcare,
technology, semi-conductors and chemicals among various other industries
present around the world
Web: http://www.polarismarketresearch.com
No comments:
Post a Comment