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Global mobile point of sale (mPOS) market is expected to foresee significant growth. North America to lead the growth!

Global mPOS market is expected to register a CAGR of around 34% over the period of 2021-2027. This is mainly due to the growing innovations in payment methods, the shift in retail payment methods from hard cash to electronic methods, and the capability of mPOS to connect with smartphones or tablets with mobile card readers wirelessly. Moreover, the increasing investments in mPOS will positively impact its market. mPOS is a smartphone, tablet, or dedicated wireless device that wirelessly performs the functions of a cash register or point-of-sale (POS) terminal. It is useful for businesses that execute transactions on the go. For instance, it is useful for businesses that interact with customers from locations other than the geographic location of the organization.

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Based on the component, the market is segmented into software and hardware. Among these, the software segment accounted for a commendable share of the global mPOS market in 2020 and is expected to witness robust growth during the forecast period owing to the increasing adoption of software-based mPOS solutions all around the globe due to the easy accessibility and low costs of software.

On the basis of industry, the market is categorized into the restaurant, hospitality, retail, healthcare, entertainment, and others. The retail industry captured a significant share of the global mPOS market in 2020 and is anticipated to witness strong growth during the forecast period. This is due to the rapidly growing retail industry and growing adoption of digital payment systems in the retail industry.

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For a better understanding of the market adoption of the mPOS, the market is analyzed based on its worldwide presence in the countries such as North America (US, Canada, Rest of North America), Europe (Germany, France, Spain, UK, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific), Rest of World. North America accounted for a prominent share of the global mPOS market and is expected to grow at a steady growth rate owing to the presence of key market players in the region and the quick adoption of new technologies. In addition, the growing retail, restaurant, and hospitality industry is further playing a significant role in the growth of the market in the region.

Some of the major players operating in the mPOS market are Bixolon Co. Ltd., Citizen Systems Europe GmbH, Dspread Technology (Beijing) Inc., Hewlett Packard Enterprise Development LP, INGENICO Group S.A., Intuit Inc., PayPal Inc., Oracle Corporation, Pax Technology Ltd., and Posiflex Technology Inc.

Global mPOS Market Segmentation

Market Insight, by Component

  • Software
  • Hardware

Market Insight, by Technology

  • Hybrid Technology Solutions
  • EMV Chip and Pin
  • Magnetic-Stripe
  • Chip and Sign
  • NFC
  • Biometrics

Market Insight, by Industry

  • Restaurant
  • Hospitality
  • Retail
  • Healthcare
  • Entertainment
  • Others

Market Insight, by Region

  • North America
    •  US
    •  Canada
    •  Rest of North America
  • Europe
    • Germany
    • France
    • Spain
    • UK
    • Rest of Europe
  • Asia-Pacific
    • China
    •  Japan
    •  India
    •  South Korea
    •  Rest of Asia-Pacific
  • Rest of the World

Top Company Profiles

  • Bixolon Co. Ltd.
  • Citizen Systems Europe GmbH
  • Dspread Technology (Beijing) Inc.
  • Hewlett Packard Enterprise Development LP
  • INGENICO Group S.A.
  • Intuit Inc.
  • PayPal Inc.
  • Oracle Corporation
  • Pax Technology Ltd.
  • Posiflex Technology Inc.

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