Mobile Point of Sale Devices (mPOS) Market Transformation: Projected 20.9% CAGR Aims for US$ 1,40,134.2 Million by 2032

The mobile point-of-sale devices market would be valued at US$21,063 million In 2022. The market is estimated to grow quickly and reach US$ 1,40,134.2 million by 2032 with an anticipated CAGR of 20.9%.

Mobile point of sale devices (mPOS) are wireless devices that process payments from various methods like credit cards and debit cards, recently Mobile point of sale device services have been extended to mobile wallets and NFC as well.

Mobile point-of-sale devices (mPOS) are cost-efficient and suitable for all types of businesses, Mobile point-of-sale device is equipped with SIM card slots which enables merchants at remote locations to operate smoothly.

Mobile point of sale device eliminate a single point of checkout for big businesses which enhances the customer buying experience.

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Key drivers for Mobile point of sale (mPOS) devices includes low cost of devices.

Mobile point of sale devices (mPOS) can be equipped with any existing smartphone, mobility is another key driver for the Mobile point of sale device market, Mobile point of sale devices can be operated at any remote location and supports merchants who have no fixed place, other drivers include a high level of customization basing on the requirement of the customer.

Mobile point of sale devices also offer the customers centralized data base management.

Migration from conventional POS systems to Mobile point of sale devices (mPOS) systems is one of the key restraints for the market.

Preference for cash transactions rather than Mobile point of sale devices (mPOS) transactions by micro and small merchants is another restraint for the Mobile point of sale devices market.

Security risks associated with Mobile point of sale device is also one of the key restraints.

Mobile point of sale (mPOS) Devices: Regional Outlook

Based on regions, Mobile point of sale (mPOS) Devices can be segmented into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, and the Middle East and Africa.

North America and Western Europe Mobile point of sale (mPOS) Devices market is predominantly mature as compared to the other regional markets as they are fast in the adoption of technology.

Mobile point of sale (mPOS) Devices in Asia Pacific excluding Japan and Japan are expected to possess maximum potential in the forecast period.

Mobile point of sale (mPOS) Devices in Latin America the Middle East and Africa are also projected to witness positive growth during the forecast period.

Major Key players:

  • VeriFone Systems Inc.
  • Square Inc.
  • First Data Corp
  • LifePay ZAO
  • Upserve Inc
  • Paynear Solutions Private Limited
  • CardFlight Inc.
  • Ingenico Group
  • Zebra Technologies Corp
  • Hewlett-Packard Development Company
  • L.P

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Key segments:

By Solution Type:

  • Integrated Card Reader Solutions
  • Card Reader Accessories
  • Dongles
  • Sleeves

By Technology:

  • Hybrid Technology Solutions
  • EMV Chip
  • Pin Magnetic-Stripe Chip
  • Sign Near Field Communication (NFC)
  • Biometrics

By End Use:

  • Restaurant Hospitality (Lodging)
  • Healthcare
  • Retail Warehouse/Distribution
  • Entertainment

By Region:

  • North America
  • Latin America
  • Asia Pacific
  • Middle East and Africa(MEA)
  • Europe

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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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