MarketResearch.biz announces publication of its most recently generated research report titled, “Global mPOS Market by Application (Financial Institutions and Third-party Payment Institutions), By Solution (Hardware and Services), and by Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Global Forecast to 2023.”, which offers a holistic view of the global mPOS market through systematic segmentation that covers every aspect of the target market. The first five-year cumulative revenue (2018–2020) is projected to be over US$ 96 Bn, which is estimated to increase considerably over the latter part of the five-year forecast period.
Mobile POS or mPOS is a portable point of sale (POS) on smartphone or tablet that functions as a register. The mPOS or mobile point-of-sale terminals are a replacement for the traditional cash registers and point-of-sale devices.
Browse the full “mPOS Market By Application (Financial Institutions, Third-party Payment Institutions) By Solution (Hardware, Services) and Region – Global Forecast 2026” report at https://marketresearch.biz/report/mpos-market/
Global mPOS Market: Market Dynamics
mPOS help to overcome shortcomings of fixed POS systems and bridge the gap between POS systems and e-commerce businesses. Using a mobile or a similar device as alternatives to POS requires less up-front investment, and are comparatively less costly to repair or replace as compared to fixed POS systems.
In addition, mPOS terminal is a better alternative to a fixed POS terminal that connects to the smartphone via Bluetooth. These devices operate on a mobile phone’s data connection to process transactions at any location where there is mobile and Internet connectivity. Easy portability and low costs of mPOS terminals helps to decrease retailers’ cost of operations, and currently available mPOS hardware can process both chip-card and magnetic-stripe payments. These are major factors expected to growth of the target market over the forecast period.
However, non-compliance to PCI Data Security Standards (DSS) can increases probability of card data breaches in mPOS systems, which could impact customer trust and reputation of representatives, which is major factors expected to hamper growth of the global market over the forecast period.
The advent of 5G services, which offer 10x throughput, 10x decrease in latency, 10x connection density, 3x spectrum efficiency, 100x traffic capacity, and 100x network efficiency is expected to help in smoother and more rapid functioning of mPOS terminals, and create revenue opportunities for various players to develop and offer more advanced mPOS devices in the market
Global mPOS Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global mPOS market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global mPOS market is expected to expand at a moderate CAGR of 18.8% during the forecast period.
Global mPOS Market: Segmental Snapshot
The market report has been segmented on the basis of application, solution, and region. The application segment includes financial institutions and third-party payment institutions. By solution segment includes hardware and services. The region covered in the analysis are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
By Application: The third-party payment institutions segment is expected to account for highest revenue share contribution as compared to other application segments, and is expected to maintain its dominance by registering highest CAGR of over 18% over the forecast period
By Solution: The services segment is estimated to account for highest revenue share in the global market. The hardware segment is expected to register highest CAGR of over 19% over the forecast period.
By Region: The market in North America accounted for highest revenue share in the global mPOS market in 2017. The market in Europe is projected to register highest CAGR of over 20% over the forecast period.
Global mPOS Market: Competitive Analysis
The research report on the global mPOS market includes profiles of some of major companies such as Ingenico Group, Verifone Systems, Inc., Fujian Newland Payment Technology Co., Ltd., Fujian LANDI Commercial Equipment Co., Ltd., Shenzhen Xinguodu Technology Co., Ltd., New Pos Technology Ltd., Bitel LLC, Castles Technology Co., Ltd., SZZT Electronics Shenzhen Co., Ltd., Square, Inc., Oracle Corporation, PayPal Holdings, Inc., Toshiba Corporation, The Hewlett-Packard Company (HP Inc.), and PAX Technology Limited.
The Global mPOS Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2017–2023 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global mPOS market for 2017–2023.
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