What is Global Mobile Point-of-Sale (mPOS) Terminals Market?
The Global Mobile Point-of-Sale (mPOS) Terminals Market is a rapidly evolving sector that has transformed the way businesses operate. Essentially, mPOS terminals are wireless devices that perform the functions of electronic point-of-sale terminals. These portable devices allow businesses to manage and process transactions anywhere, anytime, making them a convenient and efficient solution for businesses of all sizes. The global mPOS terminals market is driven by the increasing adoption of smart devices and the growing need for mobility in businesses. The market is also influenced by the rise in cashless transactions and the growing demand for real-time transaction analytics. The mPOS terminals market is not just limited to the retail sector; it has found applications in various industries including hospitality, healthcare, and logistics, among others.
Non-smart POS, Smart POS in the Global Mobile Point-of-Sale (mPOS) Terminals Market:
The Global Mobile Point-of-Sale (mPOS) Terminals Market is segmented into non-smart POS and smart POS. Non-smart POS terminals are traditional devices that are used to process card payments at retail outlets. They are typically connected to a central system and require a physical card to process a transaction. On the other hand, smart POS terminals are advanced devices that offer more than just transaction processing. They are equipped with features like inventory management, sales reporting, customer relationship management, and more. These devices can process transactions over the internet and do not require a physical card. The smart POS segment is expected to witness significant growth due to the increasing demand for advanced business solutions.
Retail, Restaurant, Hospitality, Other Industry in the Global Mobile Point-of-Sale (mPOS) Terminals Market:
The Global Mobile Point-of-Sale (mPOS) Terminals Market has found extensive applications in various sectors. In the retail sector, mPOS terminals have revolutionized the way transactions are processed. They offer a convenient and efficient solution for managing sales and inventory, thereby improving the overall customer experience. In the restaurant industry, these devices have simplified the order-taking and payment process, making it faster and more efficient. In the hospitality sector, mPOS terminals have improved the check-in and check-out process, making it more convenient for guests. They have also found applications in other industries like healthcare, logistics, and more, where they are used for managing transactions and inventory.
Global Mobile Point-of-Sale (mPOS) Terminals Market Outlook:
Looking at the market outlook, the Global Mobile Point-of-Sale (mPOS) Terminals Market was valued at a substantial US$ 358 million in 2023. The market is expected to witness a steady growth, reaching an estimated value of US$ 424.5 million by 2030. This growth trajectory represents a Compound Annual Growth Rate (CAGR) of 2.5% during the forecast period from 2024 to 2030. This growth can be attributed to the increasing adoption of mPOS terminals in various sectors and the growing trend of cashless transactions. The market is also influenced by the rise in the use of smart devices and the increasing need for mobility in businesses.
| Report Metric | Details |
| Report Name | Mobile Point-of-Sale (mPOS) Terminals Market |
| Accounted market size in 2023 | US$ 358 million |
| Forecasted market size in 2030 | US$ 424.5 million |
| CAGR | 2.5% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| By Region |
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| By Company | Ingenico, Verifone, Newland Payment, PAX, Centerm, LIANDI, Xin Guo Du, Castles Tech, Bitel, New POS Tech, CyberNet, SZZT |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
