Mobile Point of Sale Devices Global Market Report 2024

The mobile point of sale (mPOS) device market size has grown rapidly in recent years. It will grow from $39.63 billion in 2023 to $45.88 billion in 2024 at a compound annual growth rate (CAGR) of 15.8%. The expansion observed in the historical period can be attributed to several factors. These include the early adoption of smartphones by consumers, limited accessibility to traditional point-of-sale (POS) systems, the emergence of cloud-based solutions, early government initiatives promoting cashless transactions, and the proliferation of app stores and mobile payment applications.

The mobile point of sale (mPOS) device market size is expected to see rapid growth in the next few years. It will grow to $83.25 billion in 2028 at a compound annual growth rate (CAGR) of 16.1%. The anticipated growth in the forecast period can be attributed to various factors. These include the increasing popularity of biometric authentication methods, a growing emphasis on sustainability practices, the emergence of blockchain technology, and the rise of on-demand delivery services. Major trends expected in the forecast period include the use of artificial intelligence (AI) for personalization, the convergence of mobile commerce with social media platforms, integration of augmented reality (AR) technologies, the increasing adoption of voice-activated payment systems, and a heightened focus on enhancing the employee experience.

The ongoing expansion of 5G networks is poised to propel the growth of the mobile point-of-sale (mPOS) device market in the foreseeable future. 5G networks represent the fifth generation of wireless cellular technology, offering superior capacity, more dependable connections, and accelerated upload and download speeds. The surge in 5G network expansion, driven by widespread adoption, underscores the increasing demand for fast and reliable data connectivity. Leveraging 5G networks catalyzes mPOS devices by enabling swifter and more reliable connectivity, thereby facilitating seamless transaction processing, elevating user experiences, and fostering broader adoption of mobile payment solutions across diverse retail landscapes. For instance, data from 5G Americas in September 2023 reveals that the 5G penetration rate in North America has soared to an exceptional 40%, with a growth rate of 25.5% recorded in the first half of 2023. Projections indicate that North America's 5G connections are slated to reach a remarkable 669 million by 2028. Hence, the expansion of 5G networks emerges as a key driver fueling the growth of the mPOS device market.

Leading players in the mPOS device market are actively developing mobile applications such as Smartphone TPV to bolster their competitiveness and profitability in this dynamic landscape. Smartphone TPV represents a mobile application that empowers mobile phones to function as point-of-sale devices. For instance, in May 2023, CaixaBank, a Spain-based banking institution, unveiled the Smartphone TPV app. This innovative solution revolutionizes payment acceptance by enabling users to seamlessly handle card transactions of any magnitude using their mobile devices, eliminating the need for supplementary equipment. Notably, it marks the inaugural introduction in Spain by a financial entity of an app capable of transforming a smartphone into a comprehensive POS terminal. Equipped with robust security features akin to traditional POS systems, the app facilitates contactless payments while offering real-time transaction monitoring capabilities.

In March 2023, Ingenico, a prominent France-based payment services provider, completed the acquisition of Phos for an undisclosed sum. This strategic move underscores Ingenico's commitment to expanding its suite of client offerings and fortifying its position as a key player within the payments industry ecosystem. Phos, a UK-based company, specializes in delivering a software-only Point of Sale (SoftPoS) solution that empowers off-the-shelf smartphones or tablets to serve as payment terminals. Through this acquisition, Ingenico endeavors to harness Phos's expertise to further enhance its portfolio and capitalize on the growing demand for innovative mPOS solutions.

Major companies operating in the mobile point of sale (mPOS) device market are Amazon.com Inc., Alphabet Inc., Samsung Electronics Co Ltd., Panasonic Corporation, Hewlett-Packard Development Company, Cisco Systems Inc., Oracle Corporation, Toshiba Corporation, Fiserv Inc., Square Inc., Zebra Technologies Corp., Worldpay Inc., Ingenico Group, PAX Technology Inc., Adyen N.V, VeriFone Systems Inc., Fujian Newland Payment Technology Co Ltd., BlueSnap Payment Services Limited, Revel Systems Inc., PaySimple Inc., Upserve Inc., BBPOS Limited, CardFlight Inc., Touch Dynamic Inc., Paynear Solutions Private Limited.

North America was the largest region in the mobile point of sale (mPOS) device market in 2023. The regions covered in the mobile point of sale devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the mobile point of sale devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Mobile point of sale (mPOS) devices are portable gadgets equipped with both software and hardware components designed to facilitate transactions and accept payments from customers. These devices empower businesses to conduct sales transactions either remotely or within their physical stores, offering flexibility and convenience in payment acceptance.

The primary types of services offered by mobile point of sale (mPOS) devices include integrated card reader solutions, card reader accessories, dongles, and sleeves. Integrated card reader solutions involve embedding card readers directly into mobile point-of-sale devices to streamline payment processing. These solutions leverage a variety of technologies, including biometrics, Bluetooth, chip and sign, European Mastercard and Visa chip and pin, Ethernet, hybrid technology solutions, magnetic-stripe, and near-field communication. Mobile point-of-sale devices find applications across diverse sectors such as restaurant hospitality (lodging), healthcare, retail warehouses or distribution, and entertainment.

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

The mobile point of sale (mPOS) device market consists of sales of all-in-one POS systems, mobile card readers, and smart phone-based mPOS. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

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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