Mpos Terminal Market By Application (Financial Institutions And Third-Party Payment Institutions), And By Region - Global Forecast To 2023
27th October 2018
The global mPOS terminal market is estimated to value at around US$ 6 Bn in 2019, and is expected to register a CAGR of 20.7%. The report offers in-depth insights, revenue details, and other vital information regarding the global mPOS market and the various trends, drivers, restraints, opportunities, and threats in the target market till 2023. The report also offers insightful and detailed information regarding the various key players operating in the global mPOS terminal market, and their financials, apart from strategies, acquisitions & mergers, and market footprint. The global mPOS terminal market is segmented on the basis of application, solution, and region.
An mPOS or mobile POS terminal is a portable point of sale (POS) on a dedicated wireless device, smartphone or tablet that functions for processing card payments and other electronic transactions. These are replacement for traditional cash registers and point-of-sale devices.
Global mPOS Market Dynamics:
Increasing use of cashless and e-commerce transaction such as EuroPay, MasterCard, and Visa (EMV) cards in both developed and developing countries across the globe is a major factor driving growth of the global mPOS terminal market to a significant extent currently. Increasing adoption of cloud-based mPOS terminals in retails outlets, medical facilities, restaurants, conventional stores, supermarkets, etc., owing to easy operation and data security features are major factors expected to support growth of the global mPOS terminal market to a significant extent over the forecast period.
Growing preference for contactless payment, coupled with proliferation of NFC technology has led to increasing adoption of integrated mPOS terminals globally. Fully featured handheld terminals with receipt printing or low cost R/W terminal can be integrated into any Windows / Android based POS system. NFC technology allows users to experience full benefits of speedy offline tap-n-go payment, while at same time safeguarding issuer risk with periodic online updates. Furthermore, introduction of chip-embedded payment cards and personal identification number (PIN) has minimized security concerns related to sensitive or personal data breach or theft, which is a major factor driving growth of the global mPOS terminal market, especially in developing economies.
However, non-compliance to PCI Data Security Standards (DSS) can increase probability of card data breaches in these systems, which could impact reputation of representatives and trust of customer. This may hamper growth of the global mPOS terminal market over the forecast period. In addition, smartphones are vulnerable to malware attacks due to continuous 3G and 4G connectivity. Hence, it is necessary for manufacturers to test and get certification for their solutions, which can prove that they are safe to use.
The advent of 5G services and development of preinstalled security system (software) in mPOS devices to ensure security related to theft or fraud along with rapid functioning of the mPOS terminals. These are factors expected to create high potential revenue opportunities for players in the target market.
Market analysis by application:
On the basis of application segmentation, third-party payment institutions segment is estimated to account for highest share in terms of revenue and is expected to maintain its dominance over the forecast period. The third-party payment institutions segment is projected to register highest CAGR of over 21%.
Analysis by Region:
The market in North America accounted for major revenue share of over 34.2% in the global mPOS terminal market in 2019. Shifting preference of financial institutions towards mPOS solutions to their small-to-medium-sized business customers, coupled with growing awareness for easy and fast transactions is a factor driving growth of the target market. Increasing government funding on infrastructure of mPOS system in order to facilitate financial transactions and time-limited opportunity to become a leader in enabling seamless payments for the SMB market owing to increasing competition from both traditional firms and technology providers are among some of the major factors driving growth of the mPOS terminals market in the region. In addition, adoption of mPOS solutions at fuel outlets, gas stations, and convenience stores is another factor supporting growth of the target market.
Growing e-commerce market coupled with various discounts offered by service providers resulting in increasing adoption of mPOS terminals among vendors for easy transactions is a major factor driving growth of the mPOS terminal market in Europe region. In addition, adoption of cashless transaction policies by government authorities of various countries such as UK in Europe, has resulted into increasing use of EMV cards among consumers as a safe mode for transactions. Furthermore, growing tourism in countries such as Switzerland, France, Ireland, etc., and rising adoption of mPOS terminals in hotels and convenience stores. These are among some of the other factors expected to support growth of the target market in this region.
Government approach with help of banks towards fostering non-cash payment mode and deployment of mPOS solution in rural areas in order to improve rural payment services are other key factors expected to drive growth of the target market. Increasing digitalization, coupled with government initiatives for adoption of smart technologies and easy digital payments through various applications such as Unified Payment Interface (UPI) services, internet banking, mobile wallet, etc., is further expected to drive growth of the mPOS terminal market.
Increasing penetration of smartphones, tablets, and laptops among individuals is a major factor supporting adoption of NFC technology, which enables mobile-payments and contactless credit and debit card payments. mPOS terminals in ultra-portable forms is gaining wide popularity among end-users currently. These are among some of the other factors expected to support growth of the target market in Asia Pacific region.
Global mPOS Market segmentation:
Segmentation on the basis of application:
- Financial Institutions
- Third-party Payment Institutions
Segmentation on the basis of region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- 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
- Cybernet Manufacturing, Inc.
- Castles Technology Co., Ltd.
- SZZT Electronics Shenzhen Co., Ltd.
- 1.0 Chapter 1
- 1.1 Preface
- 1.2 Assumptions
- 1.3 Abbreviations
- 2.0 Chapter 2
- 2.1 Report Description
- 2.1.1 Market Definition and Scope
- 2.2 Executive Summary
- 2.2.1 Market Snapshot, By Application
- 2.2.2 Market Snapshot, By Region
- 3.0 Chapter 3
- 3.0.1 Global mPOS Terminal Market Dynamics
- 3.0.2 Drivers (D)
- 3.0.3 Restraints (R)
- 3.0.4 Opportunities
- 3.0.5 Trends
- 3.0.6 DR Impact Analysis
- 3.0.7 PEST Analysis
- 3.0.8 PORTER’S Five Forces Analysis
- 4.0 Chapter 4
- 4.0.1 Global mPOS Terminal Market Analysis, by Application
- 4.0.2 Overview
- 4.0.3 Segment Trends
- 4.0.4 Market Value (US$ Mn) and Forecast, 2017–2023
- 4.1 Financial Institutions
- 4.1.1 Overview
- 4.1.2 Market Value (US$ Mn) and Forecast, and Y-o-Y Growth, 2017–2023
- 4.2 Third-party Payment Institutions
- 4.2.1 Overview
- 4.2.2 Market Value (US$ Mn) and Forecast, and Y-o-Y Growth, 2017–2023
- 5.0 Chapter 5
- 5.0.1 Global mPOS Terminal Market Analysis, by Region
- 5.0.2 Overview
- 5.0.3 Regional Trends
- 5.0.4 Market Value (US$ Mn) and Forecast, 2017–2023
- 5.2 Global mPOS Terminal Market Analysis, by North America
- 5.2.1 Overview
- 5.2.2 Country Trends
- 5.2.3 Market Value (US$ Mn) and Forecast, and Y-o-Y Growth, 2017–2023
- 5.3 Global mPOS Terminal Market Analysis, by Europe
- 5.3.1 Overview
- 5.3.2 Country Trends
- 5.3.3 Market Value (US$ Mn) and Forecast, and Y-o-Y Growth, 2017–2023
- 5.3.4 Germany
- 188.8.131.52 Market Value (US$ Mn) and Forecast, 2017–2023
- 5.3.5 UK
- 184.108.40.206 Market Value (US$ Mn), Volume (Thousand Units), and Forecast, 2017–2023
- 5.3.6 France
- 220.127.116.11 Market Value (US$ Mn) and Forecast, 2017–2023
- 5.3.7 Russia
- 18.104.22.168 Market Value (US$ Mn) and Forecast, 2017–2023
- 5.3.8 Italy
- 22.214.171.124 Market Value (US$ Mn) and Forecast, 2017–2023
- 5.3.9 Rest of Europe
- 126.96.36.199 Market Value (US$ Mn) and Forecast, 2017–2023
- 5.4 Global mPOS Terminal Market Analysis, by Asia Pacific
- 5.4.1 Overview
- 5.4.2 Country Trends
- 5.4.3 Market Value (US$ Mn)and Forecast, and Y-o-Y Growth, 2017–2023
- 5.5 Global mPOS Terminal Market Analysis, by Latin America
- 5.5.1 Overview
- 5.5.2 Country Trends
- 5.5.3 Market Value (US$ Mn) and Forecast, and Y-o-Y Growth, 2017–2023
- 5.6 Global mPOS Terminal Market Analysis, by Middle East & Africa
- 5.6.1 Overview
- 5.6.2 Country Trends
- 5.6.3 Market Value (US$ Mn) and Forecast, and Y-o-Y Growth, 2017–2023
- 6.0 Chapter 6
- 6.0.1 Manufacturers List
- 7.0 Chapter 7
- 7.0.1 Company Profiles
- 7.1 Ingenico Group
- 7.1.1 Company Overview
- 7.1.2 Product Portfolio
- 7.1.3 Financial Overview
- 7.1.4 Key Developments
- 7.2 Verifone Systems, Inc.
- 7.2.1 Company Overview
- 7.2.2 Product Portfolio
- 7.2.3 Financial Overview
- 7.2.4 Key Developments
- 7.3 Fujian Newland Payment Technology Co., Ltd.
- 7.3.1 Company Overview
- 7.3.2 Product Portfolio
- 7.3.3 Financial Overview
- 7.4 Fujian LANDI Commercial Equipment Co., Ltd.
- 7.4.1 Company Overview
- 7.4.2 Product Portfolio
- 7.4.3 Recent Developments
- 7.5 Shenzhen Xinguodu Technology Co., Ltd.
- 7.5.1 Company Overview
- 7.5.2 Product Portfolio
- 7.5.3 Financial Overview
- 7.5.4 Recent Developments
- 7.6 New Pos Technology Ltd.
- 7.6.1 Company Overview
- 7.6.2 Product Portfolio
- 7.6.3 Key Developments
- 7.7 Bitel LLC
- 7.7.1 Company Overview
- 7.7.2 Product Portfolio
- 7.8 Cybernet Manufacturing, Inc.
- 7.8.1 Company Overview
- 7.8.2 Product Portfolio
- 7.9 Castles Technology Co., Ltd.
- 7.9.1 Company Overview
- 7.9.2 Product Portfolio
- 7.10 SZZT Electronics Shenzhen Co., Ltd.
- 7.10.1 Company Overview
- 7.10.2 Product Portfolio
- 8.0 Chapter 8
- 8.0.1 Research Methodology
- 8.0.2 About Us
- 1.0 Chapter 1
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Secondary Research: An exhaustive secondary research is carried through both paid and free sources. It involves understanding critical data related to the market. Sources for secondary research include: Government websites Industry Associations Trade & Research Journals Company websites (annual reports, press releases, product brochures, etc. Import-Export Data Factiva, Morningstar, etc. Primary Research: Extensive interviews are held with key market participants through email interactions, online surveys, paid telephonic interviews, face-to-face interviews, etc., to gain a perspective on the market conditions, trends, developments, challenges, etc. Sources for primary research include: CXOs, Global Heads, VPs, Sales/ Purchase/ Product Managers of Key Market Players Distributors, Wholesalers, Retailers, Vendors of Products and Services End-Users belonging to each application industry
Key Opinion Leaders (KOL) and Industry Experts: are credible, well-respected influencers in each industry with proven expertise and thought-leadership in the particular field, with a sound knowledge of the industry. We validate our initial research findings with these experts and try to understand their aspect to gain a deeper understanding of the current market trends, competitive landscape, market scope, disruptive technologies, etc. This helps us validate and strengthen our research findings, enhance the team’s expertise, and offer a clear understanding of the target market. All possible factors that influence the market are taken into consideration, such as: Capacity and Production Average Selling Price Total Customer Base Regulatory and Policy Changes Economic factors – Population, GDP, GDP Growth Rate, Inflation, Investments, etc
Triangulation and Analysis: Post collection of the data from all sources and validation from industry experts, we triangulate the market with both a top-down and bottom-up approaches to eliminate any margin for errors. These methods aid us in estimating the market size, market share of manufacturers, regions segments, product segments and applications (end users). In-house Data Modeling Tool: our proprietary data modeling tool is designed to apply a combination of methods to provide accurate market size with the historical and forecasted data and growth rates. The percentage splits, Market Share (%), and breakdowns of the product segments are derived based on weightage assigned to each of the segments based on their utilization rate and average sale price. The regional splits of the overall target market and its sub-segments are based on the given product's percentage adoption or penetration rate in the respective region or country.
Final Presentation: After the triangulation and analysis, we derive the market engineering data with the breakdown for all product segments, applications, and regions. The final report, along with the market dynamics, key USPs of the market are presented in a graphical and tabular format to provide a clear understanding to the client and provide a quick snapshot regarding the market, with the additional data to support the market estimations. .
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