mPOS Terminals Global Market Report 2024

The mpos terminals market size has grown rapidly in recent years. It will grow from $34.72 billion in 2023 to $41.25 billion in 2024 at a compound annual growth rate (CAGR) of 18.8%. The expansion observed in the historical period can be attributed to the emergence of smart devices, shifts in payment behavior, the entry of new players into the market, regulatory changes, and market consolidation.

The mpos terminals market size is expected to see rapid growth in the next few years. It will grow to $83.48 billion in 2028 at a compound annual growth rate (CAGR) of 19.3%. The anticipated growth in the forecast period can be attributed to market penetration strategies, an increase in digital transactions, integration with e-commerce platforms, the prevalence of remote work and transactions, and shifts in consumer behavior. Key trends expected during this forecast period include the integration of artificial intelligence (AI) and analytics.

The mPOS terminal market is anticipated to experience growth driven by the increasing adoption of digital payments. Digital payments, characterized by online transactions and electronic channels without physical money exchange, are facilitated by mobile POS systems using near-field communication (NFC) for contactless payments through digital wallets. A report by the World Bank revealed that globally, 76% of adults had accounts with financial institutions or mobile money providers in 2022. Moreover, two-thirds of adults worldwide engage in digital payments, with developing economies contributing significantly, reaching 57% in 2021. Hence, the rising prevalence of digital payments is a significant factor fueling the growth of the mPOS terminal market.

The growth of the mPOS terminal market is expected to be propelled by the increasing utilization of EMV cards, also known as chip or smart cards, which feature an embedded microchip storing encrypted payment information. mPOS terminals are designed to support the latest EMV security protocols, ensuring secure transactions. According to EMVCo, the global circulation of EMV chip cards rose by 10%, reaching 12 billion cards in 2021 compared to 10.9 billion in 2020. This surge in EMV card usage contributes to the growth of the mPOS terminal market.

A key trend in the mPOS terminal market is technological advancement, with major companies focusing on developing advanced solutions to stay competitive. Square, a US-based business tools manufacturer, introduced Square for Restaurants mobile POS in May 2022. This solution caters to restaurants, particularly full-service restaurants (FSRs), by enhancing operational efficiency and boosting revenues. The Square for Restaurants mobile POS enables quick order and payment processing at the table or in line, even during staffing shortages, contributing to increased revenue and improved table turnover.

Major companies in the mPOS terminal market are concentrating on developing innovative platforms, such as the mPOS platform, to gain a competitive advantage. An mPOS platform is a software application allowing businesses to accept payments using mobile devices such as smartphones or tablets. SumUp, a UK-based financial technology company, launched SumUp Terminal Payment SDKs for iOS and Android in May 2023. This platform allows developers to integrate SumUp's payment platform and proprietary card terminals into mobile and web applications. The integration empowers businesses to avoid the purchase and maintenance of payment terminals, offering more control over the payment process's appearance and functionality.

In June 2023, Renesas Electronics Corporation, a Japan-based semiconductor manufacturer, acquired Panthronics AG for an undisclosed amount. This acquisition is expected to provide Renesas with in-house expertise in NFC technology, enabling the company to swiftly capitalize on growing market opportunities. Panthronics AG, based in Austria, specializes in wireless solutions for security, IoT applications, and mPOS terminals.

Major companies operating in the mpos terminals market report are Ingenico Group, PAX Global Technology Limited, NCR Corporation, Oracle Corporation, VeriFone Inc., AURES Group, Fiserv Inc., Intuit Inc., New POS Technology Ltd., Newland Auto-ID Tech. Co. Ltd., Panasonic Holdings Corporation, PAR Technology, Posiflex Technology Inc., Square Inc., Zebra Technologies Corp., BBPOS Limited, Bitel Co. Ltd., Diebold Nixdorf Incorporated, First Data Corporation, Fujian Newland Payment Technology, HP Development Company L.P., Micros Systems Inc., NEC Corporation, SAMSUNG ELECTRONICS, Shenzhen Zhengtong (SZZT) Electronics Co Ltd, Adyen N.V., iZettle AB, PayPal Inc., Sage Pay Limited, SumUp Payments UAB.

North America was the largest region in the mPOS terminals market in 2023. The regions covered in the mpos terminals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the mpos terminals market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary components of mPOS terminals include POS terminals, POS software, and associated services. A point-of-sale (POS) terminal is a hardware device commonly used in retail establishments to manage credit card payments. The solutions involved consist of both hardware and software, deployed in on-premises and cloud environments. These solutions find applications across various sectors, including entertainment, healthcare, hospitality, restaurants, retail, warehouses, and others.

The mPOS terminals market research report is one of a series of new reports that provides mPOS terminals market statistics, including mPOS terminals industry global market size, regional shares, competitors with mPOS terminals market share, detailed mPOS terminals market segments, market trends, and opportunities, and any further data you may need to thrive in the mPOS terminals industry. This mPOS terminals market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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