Report Ocean recently added a research report on the Mobile Point-of-Sale (m POS) Terminals market. The report includes an extensive analysis of the market’s characteristics, COVID-19 impact, size and growth, segmentation, regional and country breakdowns, competitive environment, market shares, trends, and strategies. In addition, it traces the development of the market over time and projects regional market growth. It compares the market to other markets and situates it in relation to the larger market.
Other business intelligence tools include market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, industrial chain, market effect factors analysis, global market size forecast, market data and graphs and statistics, tables, bar and pie charts, and more. Obtain a thorough report (with a full TOC, more than 100 tables, figures, and charts). – Extensive Analysis Impact Analysis of the Pre- and Post-COVID-19 Market Outbreak.
The worldwide Mobile POS Terminals market is anticipated to reach over USD 81.3 billion by 2026. In 2017, the hardware component dominated the global market, in terms of revenue. North America is expected to be the leading contributor to the global market revenue during the forecast period.
The rising number of cashless transactions and growing need for digital payments primarily drive the growth of this market. Mobile POS solutions enable users to conduct financial transactions at remote locations with increased convenience and ease. Growing proliferation of mobile devices, increasing internet penetration, and technological advancement boosts the adoption of mobile POS terminals. Mobile POS terminals are also capable of accepting payments through EMV chip-enabled cards, contact-less cards, and NFC enabled cards.
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Mobile POS terminals are used by business to enable faster and easier checkouts. These terminals provide quicker checkouts during high volume transactions, thereby increasing customer experience. Mobile POS terminals are integrated with mobile devices such as smart phones and tablets, which offer benefits such as reduced serving time, higher workforce efficiency, while improve customer experience. These terminals are connected to inventory management systems, to further improve efficiency. Mobile POS terminals allow users to send digital receipts to consumers for better organization, and ease of use. Small businesses are increasingly adopting mobile POS terminals for increased profitability. Mobile POS terminals offer enhanced security as transactions are encrypted and not stored on devices. The declining prices of mobile devices, increasing demand for portable & wearable devices, rising NFC-based transactions, and technological advancements further supplement the growth of mobile POS terminals. The rising adoption of cloud-based and Android POS devices also boosts market growth. Integration of mobile wallet payments with mobile POS terminals to offer additional payment options to users is expected to create numerous growth opportunities in the coming years.
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North America generated the highest revenue in the market in 2017, and is expected to lead the global market throughout the forecast period. The growing adoption of advanced NFC and EMV-enabled devices with the aim to minimize frauds and security breaches related to payments are driving growth in this region. Increasing penetration of mobile devices, affordable mobile POS terminals, and growing acceptance by small and medium-sized businesses further supports market growth in this region. The use of POS terminals in varied industries such as healthcare, retail, and hospitality among others accelerates its adoption. On the basis of components, the global mobile POS terminals market is segmented into hardware components, and software components. The hardware components include mobile devices, bar code scanner, and magnetic strip reader. The hardware is used across various industries with software varying according to industry specific requirements. The software segment is expected to grow significantly in the coming years owing to additional features offered such as customer loyalty programs, employee management, and business process monitoring. Growing adoption of cloud-based mobile POS solutions would also supplement market growth.
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The various end-users of mobile POS terminals include retail, restaurants, healthcare, hospitality, and others. The retail sector is expected to dominate the market throughout the forecast period owing to high demand from large supermarkets and hypermarkets, grocery and departmental stores, and specialty retail stores among others. The retail sector is turning to mobile POS solutions to cater to the high volume of fast checkouts. Use of POS terminals in the retail sector ensures faster service, provides data related to past transactions, offers customer loyalty solutions, and reduces human errors.
The well-known companies profiled in the report include VeriFone Systems, Oracle Corporation, Ingenico S.A., Pax technology Limited, Squirrel Systems, Toshiba Corporation, Posi flex Tachnology, Panasonic Corporation, NEC Corporation, and Hewlett-Packard Company. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
What is the key information extracted from the report?
Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report. The report offers the present scenario and future growth prospects Market in various geographical regions. The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered. The SWOT analysis is conducted along with Porter’s Five Force analysis. The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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