Mobile Point of Sale (POS) Market
Global Mobile Point of Sale (POS) Market: Introduction
Mobile POS is an integrated device like a tablet or smartphone that operates as an electronic point of sale terminal. Mobile POS constitutes hardware and software.
The mobile POS hardware is equipped with Wi-Fi, smart card, and radio frequency identification (RFID), among other modern features.
These hardware mechanisms allow POS terminals to accept payments remotely utilizing wireless applications.
The mobile POS terminals are also utilized to control assets and inventories, send and receive invoices, send digitize notes, and record signatures at the counters.
This dedicated mobile equipment can also be changed into compensation terminals through the use of dongles or sleeves.
These are equipped with utilities such as Radio Frequency Identification (RFID), Wi-Fi, Voice over Internet Protocol (VoIP), and Smartcard.
Global Mobile Point of Sale (POS) Market:
The global mobile POS market size has been estimated to reach USD 24.26 Billion in 2022 and is anticipated to grow at a CAGR of 21.9%, reaching a value of USD 118.27 Billion in 2030.
The global mobile point-of-sale systems market is expected to propel phenomenal growth owing to Technical Advancements in payment technologies coupled with the shift towards Euro pay, MasterCard or Visa chip card reimbursement.
MPoS (Mobile Point of Sale) system is dedicated to incorporated mobile equipment such as tablets and smartphones that work as electronic POS terminals.
Mobile POS terminals are additionally utilized to administer receive and send invoices, inventory/assets, dispatch digitizes notes, and takes signatures at respective counters.
These abilities allow MPoS terminals to acknowledge payments even distantly by wireless applications.
Another driver that is expected to propel growth over the forecast period is MPoS gives its users to offer loyalty options to their prospective customers.
Key Trends: Growth Determinants and Challenges:
The mobile and internet penetration has increased notably in the recent past among businesses and consumers. The propelled growth of the internet across the globe as transformed the way commerce and monetary functions take place. Also, the number of credit and debit card users are increasing rapidly, owing to increasing number of bank account holders globally.
According to data from the World Bank, there was a 20% decline in the size of the unbanked population between 2011 and 2014. Moreover, larger retail chains are focusing on enhancing consumer engagement and providing high levels of convenience to their customers. This, in turn, has increased the demand for MPoS.
At present, the older mPOS systems are being replaced by new mPOS solutions as there is a liability shifts toward the adoption of EMV chip and pin after October 2015. These regulations are included, in order to lower the security risks related to card-based payments at POS terminals, namely mPOS. However, transforming to EMV chin and pin-based mPOS would require several years.
Competitive Landscape:
Major Developments:
Interested in purchasing this Report? Click here
Major questions answered in the report:
Key Takeaways from the Report:
Regional insights along with other segmental analysis
Growth contributors, trends and challenges.
The global mobile POS market size has been estimated to reach USD 24.26 Billion in 2022 and is anticipated to grow at a CAGR of 21.9%, reaching a value of USD 118.27 Billion in 2030.
Contact Us:
We Market Research
Phone: +1(650)-666-4592
Email: sales@wemarketresearch.com
Web: https://wemarketresearch.com/
Overview and Scope Lung cancer diagnosis and screening refers to using examinations and techniques to…
Overview and Scope Lithotripsy devices are medical instruments or equipment specifically designed and used in…
Overview and Scope Medical device reprocessing refers to a procedure performed on used and reusable…
Overview and Scope A liquid nutritional supplement is a dietary product that gives critical nutrients,…
Overview and Scope Flat steel is a type of processed metal that is formed in…
Overview and Scope Insomnia is a sleep disorder in which the patient has trouble falling…