New York, Dec. 14, 2022 (GLOBE NEWSWIRE) -- As per the research report Mobile POS Systems Market published by Reports Insights, the market is projected to surpass USD 255.7 billion by the year 2030 from a value of USD 42.1 billion in 2022.
Mobile POS Systems Market Size, Share & Trends Analysis, By Deployment (On-Premise, and Cloud-Based), By Component (Hardware, Software, And Services), By Solution Type (Integrated mPOS Solutions, Card Reader Accessories (Dongles, Sleeves)), By Technology (Hybrid Technology Solutions, Magnetic-Stripe, EMV Chip and Pin, Chip and Sign, Near Field Communication (NFC), Biometrics), By End Use (Entertainment, Healthcare, Restaurant Retail (Convenience stores, Supermarket/Hypermarkets, Discount stores, Department stores, Specialty stores)), By Region and Segment, Forecast Period 2022 - 2030
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The requirement for the business merchant is to have an access to a device (mobile, laptop), an internet connection, and the mPOS platform for functional financial management. Such mPOS adoption by major enterprises is anticipated to enhance the adoption of wireless mobile card readers by the direct connection with smartphones or tablets. Additionally, the major function of the mPOS system is to improve the financial operations of merchants with businesses that conduct over 100 or more cashless transactions on daily basis. This especially aids market vendors like food trucks and other quick service restaurants (QSR) to interact with customers who place orders for the food takeaways as the parcel.
The surging popularity of саѕhlеѕѕ trаnѕасtіоns and e-соmmеrсе among consumers has increased the usage of debit or credit cards like Vіѕа (V) саrdѕ, МаѕtеrСаrd, and ЕurоРау in major соuntrіеѕ. Thus, access to POS services via IOS and android device apps allows the majority of merchants to perform fast, accurate, and secure financial transactions.
| Report Attributes | Report Details |
| Market Size By 2030 | USD 255.7 Billion |
| Forecast Period | 2022-2030 |
| CAGR (2022-2030) | 25.3 % |
| Base Year | 2022 |
| Study Timeline | 2018-2030 |
| Key Players | MICROS Systems, Panasonic Corporation, Samsung Electronics Co., Hewlett-Packard Company, Cisco Systems Inc., Toshiba Corporation, VeriFone Systems Inc., PAX Technology Limited, First Data Corporation, Ingenico S.A, Posiflex Technology, NEC Corporation, Square Inc., Epicor Software Corporation, Squirrel Systems |
| By Deployment | On-Premise, and Cloud-Based |
| By Component | Hardware, Software, And Services |
| By Solution Type | Integrated mPOS Solutions, Card Reader Accessories (Dongles, Sleeves) |
| By Technology | Hybrid Technology Solutions, Magnetic-Stripe, EMV Chip and Pin, Chip and Sign, Near Field Communication (NFC), Biometrics |
| By End Use | Entertainment, Healthcare, Restaurant Retail (Convenience stores, Supermarket/Hypermarkets, Discount stores, Department stores, Specialty stores) |
| Report Coverage | Total Revenue Forecast, Company Ranking and Market Share, Regional Competitive Landscape, Growth Factors, Business Strategies, and more. |
| By Geography | Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia] Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland] North America [United States, Canada, Mexico] Middle East & Africa [GCC, North Africa, South Africa] South America [Brazil, Argentina, Columbia, Chile, Peru] |
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Key Market Highlights
- The global mobile POS systems market is expected to witness a CAGR of 25.3% during the forecast period (2022-2030) to reach USD 255.7 billion by 2030.
- Globally, the mobile POS systems are bifurcated based on the deployment: on-premise and cloud-based
- The POS systems comprise three components: POS terminals, POS software, and services.
- The market is also segmented as per the solution type: integrated mPOS solutions, and card reader accessories (dongles, sleeves).
- In the context of technology, the market is categorized into hybrid technology solutions, magnetic-stripe, EMV chip and pin, chip and sign, near-field communication (NFC), and biometrics.
- Based on the end user, the market share is segmented into four groups: entertainment, healthcare, restaurant, and retail (convenience stores, supermarkets/hypermarkets, discount stores, department stores, and specialty stores).
- The market is further geographically divided into five regions: North America, Europe, Latin America, the Asia-Pacific, and the Middle East and Africa.
- North America and Europe are anticipated to support industry growth during the forecast period in terms of the large adoption of mPOS solutions in the retail, hospitality, and healthcare industries.
Mobile POS Systems Market Segmentation Details:
Based on deployment, the on-premise segment is expected to contribute a major market share in terms of volume. The on-premise mPOS offers better security and dependability. It efficiently protects the financial data of clients which has encouraged businesses to switch to these models to improve overall inventory operations.
Based on the component, the hardware holds the largest share in terms of revenue. The mPOS hardware is the physical device utilized for the processing of customer transactions at the physical location. This includes credit card readers, displays, scales, receipt printers, stations, and others which are highly adopted by the majority of businesses for cash-less transactions.
Based on solution type, card reader accessories are anticipated to overpower the mPOS solutions by acquiring over 66.5% of the market share. Card reader accessories hand over multiple applications in the favor of Europay, Mastercard and Visa (EMV), and near field communication (NFC). The information stored on the metallic chip of these cards is securely accessible by the card readers which aids in financial transactions. Thus, multiple enterprises have access to such card readers as card-swipe machines to facilitate consumer transactions.
Based on technology, the hybrid technology segment takes over the market share due to its versatility and reliability. This technology highly augments the mPOS devices’ compatibility with any transaction modes which includes debit/credit cards, NFC, Unique payment interface (UPI), and others. Thus, mainstream stores largely integrate hybrid technology to enhance customer service in terms of financial transactions.
Based on end-use, the restaurant industry contributed the major share of mobile POS systems market statistics during the forecast period. The restaurant sector largely relies on mPOS systems to provide high-speed customer service through fast ordering and processing operations. Thus, businesses opt for multiple types of POS systems as per budgets, space availability, and other factors to maximize order sales.
Based on region, North America is expected to support the market growth in terms of revenue and volume. The large presence of small, large, and medium enterprises across the region utilize mPOS systems to serve the increased volume of customer orders. Also, multiple public ventures such as bus terminals, metro stations, and others constantly facilitate the expenditures in the favor of such technology integration to rise consumer adoption.
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Recent Developments
- In October 2019, Samsung Electronics teamed up with the Canadian-based startup called Mobeewave Inc., for the deployment of highly secure, contactless, and NFC-enabled transaction acceptance globally operational on mobile devices.
- In January 2022, the Dutch e-commerce firm named Adyen released the mobile Android POS terminals available across E.U., U.K., and U.S. The mobile POS terminals act serve the purpose of inclusive payment solutions along with the in-app management system. Thus, business merchants gain the ability to connect and manage the software applications required on a regular basis such as loyalty programs, inventory management, and others.
- In May 2022, the U.S.-based firm, Square, introduced the launch of software called the Square for Restaurants mobile POS software. This mobile POS software comprises the hardware solutions suite which aids full-service restaurants (FSRs) to improve their business operational efficiency.
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List of Major Mobile POS Systems Market Players
Further, the market research report offers the compilation of the latest market trends that portray the strategies adopted by industry competitors, product launches and collaborations. Furthermore, factors such as value chain analysis, market dynamics, and product innovations are evaluated to draw actionable market insights. Key players functioning in the market are profiled in the report to understand the latest position of market—
- MICROS Systems
- Panasonic Corporation
- Samsung Electronics Co.
- Hewlett-Packard Company
- Cisco Systems Inc.
- Toshiba Corporation
- VeriFone Systems Inc.
- PAX Technology Limited
- First Data Corporation
- Ingenico S.A
- Posiflex Technology
- NEC Corporation
- Square Inc.
- Epicor Software Corporation
- Squirrel Systems
Global Mobile POS Systems Market Segmentation:
By Deployment
- On-Premise
- Cloud-Based
By Component
- POS Terminals
- POS Software
- Services
By Solution Type
- Integrated mPOS Solutions
- Card Reader Accessories
- Dongles
- Sleeves
By Technology
- Hybrid Technology Solutions
- Magnetic-Stripe
- EMV Chip and Pin
- Chip and Sign
- Near Field Communication (NFC)
- Biometrics
By End Use
-
- Entertainment
- Healthcare
- Restaurant
- Retail
- Convenience stores
- Supermarket/Hypermarket
- Discount stores
- Department stores
- Specialty stores
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