- Opportunity and Forecast, 2016 - 2025
Mobile point-of-sale (mPOS) terminal is a wireless device that performs transactions and functions of cash register to facilitate electronic funds transfer. These devices are equipped with features such as RFID, NFC, VoIP, Wi-Fi, and smart card capabilities. mPOS helps the service and sales industry to facilitate financial transactions, improve customer experience, and save time & cost invested in building infrastructure and personnel for POS counters. Tablet or smartphone can be used as mPOS terminal using an app. This device is linked to a bank account using an app. Consumer data and transaction details are stored on cloud in an encrypted format.
The global mobile POS terminals industry is driven by the advent of affordable wireless communication technologies, high demand from retail and hospitality sectors, and rise in consumer base in the Asia-Pacific region. However, increase in security concerns hampers the market growth. Furthermore, advancements in communication technology and increase in investments in the healthcare sector for mPOS are expected to present opportunities to the industry players.
The global mobile POS terminals market is segmented based on component, application, and geography. Based on component, the market is segmented into hardware and software. The application areas of the industry are broadly classified into restaurants, hospitality, entertainment, warehouse, healthcare, and retail. The market is analyzed based on four regions, namely Asia-Pacific, North America, Europe, Latin America, and MEA.
The key players operating in the industry are VeriFone, Hewlett-Packard Company, NEC Corporation, Panasonic Corporation, PAX Technology Ltd., Posiflex Technology Inc., QVS Software Inc., Ingenico, Zebra Technologies, Oracle, and First Data Corporation. These market players have adopted partnerships, mergers & acquisitions, expansion, joint ventures, collaborations, and other strategies to gain strong foothold and sustain in the intense competition in the industry.
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