Mobile POS Terminals Market Report and Forecast 2023-2028

According to the report the global mobile POS terminals market reached a value of USD 29.72 billion in 2022. Aided by the rapid shift towards digital payments and the expanding applications of mobile POS terminals across diverse industries, the market is projected to further grow at a CAGR of 10.16% between 2023 and 2028 to reach a value of USD 53.27 billion by 2028.

Mobile POS terminals, or mPOS, are mobile devices that function as electronic POS terminals. These versatile systems can manage and process transactions, allowing businesses to operate in a more flexible and efficient manner. Predominantly used in retail and hospitality sectors, mobile POS terminals have applications in a plethora of industries including healthcare, warehousing, and logistics.

One of the pivotal factors driving the global mobile POS terminals market growth is the escalating shift towards cashless transactions. With the growing awareness of the convenience and security associated with digital payments, there has been a significant surge in the adoption of mobile POS terminals. Further, the rising trend of mobile commerce has also fuelled the growth of the mPOS market, as these systems allow businesses to make sales and process transactions on the go.

Mobile POS terminals are finding increasing applications across various sectors, significantly propelling the mobile POS terminals market development. In the retail industry, mobile POS terminals have simplified the check-out process, while in the hospitality industry, they allow for faster and more efficient service. The healthcare sector employs mPOS systems for flexible payment solutions and to streamline administrative tasks. Furthermore, mPOS systems are also being used in warehousing and logistics for inventory management, boosting the overall mobile POS terminals market expansion.

The manufacturing and distribution of mPOS terminals have been further catalysed by technological advancements. Innovative features such as integrated biometrics for enhanced security, cloud-based systems for data management, and the incorporation of IoT technology for improved connectivity have made these systems more appealing to businesses. Moreover, the COVID-19 pandemic has underscored the necessity for contactless and digital payment solutions, driving the global demand for mobile POS terminals. Finally, the rising trend of digitisation in emerging economies and the subsequent increase in mobile and internet penetration have also positively influenced the mobile POS terminals market.

Market Segmentation

The market can be divided based on component, application, and region.

Market Breakup by Component

• Hardware

Software

• Cloud
• On-Premises
• Services

Market Breakup by Application

• Restaurants
• Hospitality
• Healthcare
• Retail
• Warehouse
• Entertainment
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global mobile POS terminals companies. Some of the major key players explored in the report are as follows:

• VeriFone, Inc.
• PAX Global Technology Limited
• Oracle Corporation
• Ingenico
• Block, Inc.
• New POS Technology Limited
• HP Development Company, L.P.
• Clover Network, Inc.
• PayPal Holdings, Inc.
• NEC Corporation
• Others

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*The publisher always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.