The Global Mobile
POS Terminals Market is
expected to reach USD 42.99 billion by 2022, according to a new study by Grand
View Research, Inc. Mobile POS terminals have evolved from basic payment
processing tools to advanced analytics solution providers with greater processing
capability and wireless communication support. The inflection of these
terminals came with the adoption of consumer grade devices such as tablets for
business use. Ubiquitous wireless connectivity such as the Bluetooth,
availability of mobile printers, scanners, card readers and peripheral devices;
and multiple platform support have driven the mobile POS terminals market in
various applications.
Sophisticated
data analytics, growing credit card payments and ever-changing consumer
expectations are expected to spur the mobile POS terminals industry. This
growth has encouraged retailers to leverage new applications and strategies to
deliver seamless customer experience. Mobile applications have the ability to
create new channels for revenue growth; as a result, vendors are increasingly
trying to understand various marketing channels available in order to leverage
technology to compete. Flexibility of having a tablet-based mobile POS owing to
low installation costs has attracted SMBs to invest in this technology. Reduced
customer time in line, increased security, free floor space and paper-free
receipting services are the features driving mPOS terminals demand over
traditional or fixed terminals.
The
growing penetration of tablet devices, rising base of SMBs and micro-merchants,
need for effective line-busting schemes to encourage card adoption are expected
to propel market growth over the coming years. However, lack of standardization
and data security concerns may restrain mobile POS terminals market growth.
Increased penetration of Near Field Communication (NFC) in mobile devices is
expected to augment demand.
Browse Details of Report @ http://www.grandviewresearch.com/industry-analysis/mobile-pos-terminals-market
Further key findings from the study suggest:
·
The mobile POS terminals market
primarily includes components such as hardware and software. Mobile POS
hardware systems accounted for majority of the market share in 2014; the
segment is expected to lose market share through the forecast period. The
software segment is expected to witness growth as consumers shift towards the
use of consumer-grade electronics devices such as tablets for managing their
POS needs.
·
Retail segment accounted for
over 30% of the overall market share in 2014. Growing adoption of mobile POS
technology across SMBs and micro-merchants is expected to drive segment growth.
·
Asia Pacific and Latin America
mobile POS terminals market are expected to witness substantial growth over the
forecast period. This may be primarily attributed to increasing low-cost
manufacturing activities in the region. Surge in demand across application
segments is expected to spur the regional market.
·
Notable companies operating in
the industry such as Verifone, Ingenico, and Micros Systems provide various
handheld and tablet-based mobile POS solutions. Verifone Systems introduced
these solutions for SMBs along with iPayment to address the need of the
marketplace.
About
Us:Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
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Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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