Global Mobile POS Terminal Market to Surpass USD 49.8 Billion by 2028, finds Bekryl Market Analysts
According to the recently released report by Bekryl, ‘Global Mobile POS Terminal Market’ is set to register 12.3% CAGR to create 2.8X higher revenue opportunity in 2028 than that in 2019. The mobile point of sales (mPOS) terminal is the largest beneficiary of growing digitization across worldwide. The industry is characterized by presence of many players with startups emerging at a very high rate. Even though the mobile POS terminal players are relatively very high, the industry over 77% of the market is dominated by top nine industry players.
Demand for mPOS Terminal market is expected to heighten owing to its added advantage features. mPOS allows the company to better engage with their customers. Moreover, mPOS these days are offering more than just payment transaction process. Mobile POS Terminal Market is gaining wide scale penetration with increased smartphones sales and rise in disposable income. As a matter of fact, developing regions are also registering impressive growth. Well planned strategic initiatives could help companies to generate very high ROI. This is evident from the fact that startups have been able to generate millions of revenue in just five years of business operations.
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Globally, North America dominated the mobile POS terminal market share in 2018. It accounted for over 39% of market share in 2018. The average transaction value per user in the region is US$ 900.5 in 2018.
Asia Pacific mobile POS terminal market will register fastest growth during the forecast period. The region will surpass Western Europe by 2023. Higher adoption rate along with increased digitization in China and India has created favorable market opportunity for industry players. Demonetization has played a positive role for such payment technologies in India. As such, various startups emerged in the country. Recently, in March 2018, Fino Payments announced its plans to deploy around 10 thousand mobile POS terminals in the country in a phased manner.
Some key global Mobile POS Terminal Market players are Hewlett Packard Company, VeriFone Holdings, Inc., NEC Corporation, First Data Corporation, Ingenico S.A., Oracle Corporation, PAX Technology, Panasonic Corporation, QVS Software Inc., and Posiflex Technology Inc. The industry is expected to witness inorganic growth during the forecast period. Merger and acquisition along with setting up of terminals will be key initiatives taken by the company. Leading companies are focusing on expansion across various industry verticals. Recently, in March 2018, Ezetap entered in partnership with Verifone to deploy its software solutions on Verifone terminals. Through this, the companies will be targeting across smart cities and oil & gas payments.
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(mPOS) Mobile POS Terminal Market Industry Segmentation
By Industry Vertical Type:
- Retail
- Restaurants
- Hospitality
- Entertainment and Media
- Healthcare
- Warehouse
- Educational Institutes
- Telecom Payment Centers
- Transport and Logistics
- Others
By Product Type:
- Software
- Hardware
By Deployment:
- On-Premise
- Web-based
- Cloud
- Private
- Public
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