The global mobile point-of-sale (mPOS) terminals market size is expected to reach USD 102.73 Billion by 2032, according to a new study by Polaris Market Research. The report “Mobile Point-of-Sale (mPOS) Terminals Market Share, Size, Trends, Industry Analysis Report, By Component (Software and Hardware); By Deployment Type; By End-Users; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Mobile point-of-sale (POS) terminals have grown from being simple instruments for processing payments to complex analytics solution providers with more powerful computing power and wireless connection capability. The usage of consumer-grade devices such as tablets for business use has driven the growth of the mobile POS terminals market by providing ubiquitous wireless connectivity, mobile printers, scanners, card readers, and multiple platform support for various applications.
The mobile POS terminals industry is expected to grow due to the increasing use of data analytics, credit card payments, and changing consumer expectations. Retailers are adopting new applications and strategies to provide a seamless customer experience and create new channels for revenue growth. The low installation costs of tablet-based mobile POS terminals have made them attractive to small and medium-sized businesses, who benefit from reduced customer wait times, increased security, and paper-free receipting services.
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The rising use of tablets and the rise in small enterprises and micro-merchants, and the demand for efficient line-busting strategies to promote card use are all predicted to contribute to market growth. However, concerns over data security and lack of standardization may impede market growth. The need for mobile POS terminals is anticipated to increase even more as Near Field Communication (NFC) in mobile devices becomes more widely adopted.
Mobile Point-of-Sale (mPOS) Terminals Market Report Highlights
Polaris Market Research has segmented the Mobile Point-of-Sale (mPOS) Terminals market report based on Component, Deployment Type, End-Users, and region:
Mobile Point-of-Sale (mPOS) Terminals, Component Outlook (Revenue - USD Billion, 2019 - 2032)
Mobile Point-of-Sale (mPOS) Terminals, Deployment Type Outlook (Revenue - USD Billion, 2019 - 2032)
Mobile Point-of-Sale (mPOS) Terminals, End-Users Outlook (Revenue - USD Billion, 2019 - 2032)
Mobile Point-of-Sale (mPOS) Terminals, Regional Outlook (Revenue - USD Billion, 2019 - 2032)