Global Mobile Point-of-Sale (mPOS) Market: Snapshot The global market for mobile point-of-sale (mPOS) is gaining significant impetus, thanks to the increasing preference for cashless transactions among people across the world. Offer of mPOS solutions with low cost of ownership (TCO) and ease of use, due to mobility, the market is expected to remain high during the next few years. According to Transparency Market Research (TMR), the worldwide mPOS market, Which is expected to receive value of US $ 4.21 billion by 2017, Notable CAGR of 35.40% will be expanded between 2017 and 2025, By the end of 2025, US $ 47.7 billion reached.
Card reader accessories are largely evaluated on the basis of the global market solution for mPOS, technology and the type of end user to maintain the most valid products. Based on the type of solution, the market has been classified into integrated card reader solutions and card reader accessories. Compared to Integrated Card Reader Solution, the demand for card reader goods is increasing at a higher rate. Researchers estimate this scenario to remain in the next few years because of the low cost of these goods, which makes it affordable for small and medium sized businesses (SMBs) and micro merchants. By technology, the market is bifurcated into hybrid technology solutions, EMV chip and pin, near field communication (NFC), chip and sign, magnetic stripes, and biometrics. NFC, EMV chip and pin, and hybrid technology solutions are the most preferred technologies in this market at present. Over the coming years, these technologies will remain in high demand. Restaurants, healthcare, hospitality, government, retail, entertainment, warehouse / distribution, transportation and consumer utility services have emerged as the main end users of mPOS solutions.
Due to the significant expansion, the retail segment is reporting more demand of mPOS systems compared to other end users and the trend has been predicted to continue in the coming years. On the geographical front to lead Europe, the global market for mPOS is spread across the Middle East and Africa, South America, Europe, North America and Asia Pacific. With a 34% stake, Europe led the global market in 2016. The significant proliferation of cloud computing has affected the European market in the past few years. Even in the near future, mPOS is expected to maintain its edge over the entire market in the European market, thanks to the focus of vendors of mPOS solutions on merchant-related services and the growing trend of Internet in this field (IoT). In addition, in European banks, it is also estimated to help European markets to a great extent in the next few years to offer a lower fee for customers to move forward on mPOS systems. In other regional markets for mPOS, North America and Asia Pacific are witness to healthy growth in the coming years. While the presence of large number of established players is promoting the North American mPOS market, Asia Pacific market is expected to achieve in the coming years by strengthening the economic status of various Asian countries, such as China, India, Indonesia and Japan. Asia-Pacific mPOS market is expected to accelerate in the near future with trends of various social factors, such as favorable demographic profiles, consumer confidence and commercialization.
At the forefront of the global mPOS markets are:
• Intuit Inc.
• Recruit Holdings Co. Ltd.
• Oracle Corp.
• Square Inc.
• Hewlett-Packard Development Co. L.P.
• First Data Corp.
• Bixolon Co. Ltd.
• iZettle AB, PAX Technology Ltd.
• VeriFone Systems Inc.
• PayPal Holdings Inc.
• Dspread Technology Inc.
• Posiflex Technology Inc.
• Citizen Systems Europe GmbH
• Ingenico S.A.
• Zebra Technologies Corp.
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