According to a new report published by UnivDatos Markets Insights, the Mobile Point of Sales (mPOS) Market is expected to reach at USD 65 billion in 2027, growing at a CAGR of 34% from 2021-2027. The analysis has been segmented into Component (Software and Hardware); Technology (Hybrid Technology Solutions, EMV Chip and Pin, Magnetic-Stripe, Chip and Sign, NFC, and Biometrics); Industry (Restaurant, Hospitality, Retail, Healthcare, Entertainment, and Others); Region/Country.
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The Mobile Point of Sales (mPOS) market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Mobile Point of Sales (mPOS) market. The Mobile Point of Sales (mPOS) market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Mobile Point of Sales (mPOS) market at the global and regional levels.
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Market Overview
The mPOS market demand is increasing at a significant rate over the years and is expected to witness influential growth during the forecasted period as well. Factors such as the capability of mPOS to connect with smartphones or tablets with mobile card readers wirelessly and the shift in retail payment from hard cash to electronic methods are positively influencing the mPOS market. The mPOS market is growing at a prominent rate over the years and is expected to witness robust growth during the forecast period. Factors such as the capability of mPOS to connect with smartphones or tablets with mobile card readers wirelessly, the shift in retail payment methods from hard cash to electronic methods, lower cost than POS systems, and the convenience of using a portable POS device are positively influencing the mPOS market
Some of the major players operating in the market include Bixolon Co. Ltd., Citizen Systems Europe GmbH, Dspread Technology (Beijing) Inc., Hewlett Packard Enterprise Development LP, INGENICO Group S.A., Intuit Inc., PayPal Inc., Oracle Corporation, Pax Technology Ltd., and Posiflex Technology Inc.
COVID-19 Impact
The COVID-19 pandemic has Positively impacted the global mobile point of Saless (mPOS) industry. While governments of different countries imposed stringent movement restrictions & frequent lockdowns to curb the spread of this dreadful disease due to its severity, most industries adopted work-from-home policies and procured digital platforms to run their business operations. Mobile point of Sales market witness positive growth during the Covid-19 owing to the surge in the rising online transactions across the globe to reduce the spread of virus coupled with increase in online ecommerce platform has also escalated its market growth.
· Based on the component, the market is segmented into software and hardware. Among these, the software segment accounted for a commendable share of the global mPOS market in 2020 and is expected to witness robust growth during the forecast period owing to the increasing adoption of software-based mPOS solutions all around the globe due to the easy accessibility and low costs of software.
· On the basis of technology, the market is categorized into hybrid technology solutions, EMV chip and pin, magnetic-stripe, chip and sign, NFC, and biometrics. The EMV chip and pin segment captured a significant share of the global mPOS market in 2020 and is anticipated to witness strong growth during the forecast period mainly due to the benefits provided by the EMV chips such as enhanced security, greater authenticity, better security for online payments, and better storage of information.
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Mobile Point of Sales (mPOS) Market Geographical Segmentation Includes:
· North America (United States, Canada, and the Rest of North America)
· Europe (Germany, United Kingdom, Spain, France, and the Rest of Europe)
· Asia-Pacific (China, Japan, India, South Korea, and the Rest of Asia-Pacific)
· Rest of the World
North America accounted for a prominent share of the global mPOS market and is expected to grow at a steady growth rate owing to the presence of key market players in the region and the quick adoption of new technologies. In addition, the growing retail, restaurant, and hospitality industry is further playing a significant role in the growth of this market in the region. In addition, the region is home to some of the major mPOS solution providers, such as Hewlett Packard Enterprise Development LP, Oracle Corporation, Intuit Inc., PayPal Inc., and others and they are investing heavily in developing advanced mobile point of Sales systems. Further, the growing retail, restaurant, hospitality, and entertainment industries are further contributing to the growth of the mPOS market in the region
The major players targeting the market include
· Bixolon Co. Ltd.
· Citizen Systems Europe GmbH
· Dspread Technology (Beijing) Inc.
· Hewlett Packard Enterprise Development LP
· INGENICO Group S.A.
· Intuit Inc.
· PayPal Inc.
· Oracle Corporation
· Pax Technology Ltd.
- Posiflex Technology Inc.
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Mobile Point of Sales (mPOS) Market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the Mobile Point of Sales (mPOS) market?
• Which factors are influencing the Mobile Point of Sales (mPOS) market over the forecast period?
• What are the global challenges, threats, and risks in the Mobile Point of Sales (mPOS) market?
• Which factors are propelling and restraining the Mobile Point of Sales (mPOS) market?
• What are the demanding global regions of the Mobile Point of Sales (mPOS) market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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