With Market Size Valued at $46.2 Billion by 2026, it`s a Healthy Outlook for the Global mPoS Terminals Market

SAN FRANCISCO, Feb. 18, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "mPoS Terminals - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

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Edition: 7; Released: February 2022
Executive Pool: 1321
Companies: 59 - Players covered include Bixolon Co., Ltd.; Citizen Systems Europe GmbH; Dspread Technology, Inc.; Fiserv Inc. (First Data Corporation); Hewlett-Packard Development Company L.P.; Ingenico Group S.A; Intuit, Inc.; iZettle AB; Oracle Corporation (MICROS Systems, Inc.); PAX Technology Ltd.; PayPal Holdings, Inc.; Posiflex Technology, Inc.; Recruit Holdings Co., Ltd.; Square, Inc; VeriFone Systems, Inc; Zebra Technologies Corp. and Others.
Coverage: All major geographies and key segments
Segments: Component (Hardware, Software); Application (Retail, Restaurants, Hospitality, Healthcare, Entertainment, Warehouse, Other Applications)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.

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ABSTRACT-

Global mPoS Terminals Market to Reach US$46.2 Billion by the Year 2026
The tablet, smartphone, or other dedicated wireless equipment that functions as an electronic POS (Point of sale) terminal or a cash register wirelessly is referred to as mPOS or mobile point of sale. mPOS is very beneficial for the businesses that do transactions while in motion, like food trucks and market vendors who communicate with the customers from anywhere. The mPOS market is growing rapidly over the last few years, with larger retailers embracing mPOS technology to assist in updating the CX and enhance satisfaction despite the decreasing foot traffic. mPOS devices' adoption is anticipated to propel the mPOS annual transactions. The mPOS affordability is estimated to make the systems more attractive for the formerly cash-driven and small businesses. The utilization of biometrics including facial and fingerprint recognition is another trend anticipated in mPOS systems to confirm the identity of customers while making payments. Biometrics is regarded as the safe authentication method and organizations such as Mastercard are administering pilot projects integrating the technology with the already existing mPOS. Increased utilization of contactless transactions is prompting the merchants to embrace mPOS terminals for accepting contactless payments from customers' smartphones. Growing NFC-based transactions and mobile wallet technology's emergence are expected to propel market growth. Growth is also driven by EMV chip card technology's increased penetration for debit and credit card payments.

Amid the COVID-19 crisis, the global market for mPoS Terminals estimated at US$25.1 Billion in the year 2022, is projected to reach a revised size of US$46.2 Billion by 2026, growing at a CAGR of 14.5% over the analysis period. Hardware, one of the segments analyzed in the report, is projected to grow at a 14% CAGR to reach US$41 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Software segment is readjusted to a revised 16.4% CAGR for the next 7-year period. This segment currently accounts for a 20.5% share of the global mPoS Terminals market. The mPOS terminal hardware segment is anticipated to be the largest contributor, as hardware components such as hand-held terminals, and smartphones and tablets paired with debit/credit card readers attributed to the major revenue share. mPOS software is expected to witness high growth through the analysis period due to the increased demand for fast, efficient, scalable, and effective checkout solutions. Additionally, the advancements in mobile applications are accelerating further demand for POS software, driving further initiatives in this space.

The U.S. Market is Estimated at $7.5 Billion in 2022, While China is Forecast to Reach $7.5 Billion by 2026
The mPoS Terminals market in the U.S. is estimated at US$7.5 Billion in the year 2022. The country currently accounts for a 30.25% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$7.5 Billion in the year 2026 trailing a CAGR of 17.8% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 11.6% and 14.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 13.7% CAGR while Rest of European market (as defined in the study) will reach US$5.3 Billion by the end of the analysis period. Growth in the US market is driven by the rapid change towards robust, fast, and secure business solutions and devices including tablets. The usage of tablet POS terminals has increased extensively among businesses due to the low installation costs and fast checkout. In countries such as China and India, the robust expansion of the e-commerce sector is leading to a surge in digital payments, thus presenting the Asia-Pacific region as a lucrative market for mPOS terminals. More

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SOURCE Global Industry Analysts, Inc.