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(mPOS) Mobile POS Terminals Market Size By Component (Software, Hardware), By Application (Restaurants, Entertainment, Hospitality, Healthcare, Warehouse, Retail), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, China, India, Japan, Brazil, Mexico), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2023

Published Date: May 2016 | 100 Pages | Report ID: GMI464 Report Format: PDF

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Summary Table of Contents Industry Coverage Methodology

Industry Trends

(mPOS) Mobile POS Terminals Market size was valued at USD 11.54 billion in 2015, with 19% CAGR estimations from 2016 to 2023. Surge in affordable wireless communications technologies is driving the industry demand over the forecast period.

Brazil Mobile POS Terminals Market size, by application, 2012 - 2023 (USD Billion)

Brazil Mobile POS Terminals Market size, by application, 2012 - 2023 (USD Billion)

Increased demand from end-use industries such as retail and hospitality is anticipated to fuel growth. Businesses in hospitality and retail industries use these products for payments and improving customer experience by avoiding delays in payment processing due to long queues involved in the traditional POS terminals market. The industry is fragmented across various verticals establishing the need for resellers to understand the diversity of applications.

Healthcare sector is expected to reach USD 4.36 billion by 2023. This segment has invested heavily in the mPOS terminals market owing to rising concern to manage liability, minimize costs and comply with government norms. The product complies with patient information privacy laws. It also offers several solutions including back-end functions such as aging reports for inventory tracking, regular blocking of expired objects patient data tracking services and fast billing with multi-tender nature.

Mobile POS terminals market utilizes wireless devices to facilitate payment for services or products. Use of wireless technology can streamline various processes, from rental cabs to restaurants to buying food at grocery stores. Wireless systems aid in significant cost reduction per transaction in regions of high telecommunication costs by using technologies such as 802.11, GPRS, CDMA, and Wi-Fi. Universal acceptance of these devices coupled with compatible software offer businesses the convenience of portable sales. In addition to the cost reduction, wireless communication system increases the productivity of individual workers and eliminates time delay for services or sales.

Security concerns are the major challenge which have negatively impacted the industry, and is expected to continue over the forecast period. However, compensating controls in order to manage the data flow is expected to improve cyber security. VeriFone’s VeriShield is an example of provisional control for transmitting data. Improving security through firewall and data encryption can also help retailers overcome data security concerns.

(mPOS) Mobile POS Terminals Market, By Component

Software segment is forecast to surpass USD 9.5 billion by 2023, growing at more than 22% CAGR from 2016 to 2023. Efficient software integrates functionality of barcode scanners and screen terminals thereby providing data restoring and backup features. It also manages user loyalty programs and tracks customer purchasing behavior. Mobile POS terminals market share is likely to grow at 18% CAGR till 2023 for hardware components.

(mPOS) Mobile POS Terminals Market, By Application Analysis

Retail sector accounted for more than 30% of global revenue in 2015, and is poised to grow at 17.8% CAGR from 2016 to 2023. Mobile POS terminals market is expected to create value for retailers, leading to more converged and integrated store solutions.

Entertainment industry is projected to arrive at USD 4.35 billion by 2023. This application sector includes amusement parks, casinos, cinemas, pubs, stadiums, tourism and so on. All of them require robust systems that help to keep up with the mass flow of customers.

(mPOS) Mobile POS Terminals Market, By Region

North America is forecast to grow at a CAGR of 18.3% over the forecast period, driven by growth in U.S. mobile POS terminals market size. Europe mobile POS terminal market was valued at over USD 3 billion in 2015.

Increasing customer base on account of increased SMBs and reduction in TCO is expected to positively impact Asia Pacific mPOS terminals market share.

Competitive Market Share

The traditional POS terminals industry is consolidated in nature; the top two participants, Verifone and Ingenico, accounted for over 40% of the size in 2015. Ingenico has observed a significant increase in demand of NFC-configured EMV-chip terminal to accept Apple’s new mobile payment system. Ingenico Mobile Solutions, an operating division of the Ingenico Group, offers hardware, application platforms, engines, tools and services for the mobile POS terminals market.

Key players in the industry include VeriFone, Ingenico, Zebra Technologies, Oracle and First Data Corporation.

(mPOS) Mobile POS Terminals Industry Background

Mobile POS terminal market refers to an electronic payment system that is used to transfers funds from credit and debit cards at application outlets. Mobile POS solutions consist of a handheld mobile device or computer with a payment card reader and associated application support. They are equipped with features such as NFC, Wi-Fi, VoIP, RFID, and smart card capabilities.

mPOS manufacturers sell their products worldwide via direct sales force or through third-party distributors and channel partners. Such third party partners include system integrators, banks and acquirers, and independent sales organizations. On the service front, most system providers offer direct sales and support personnel. Such personnel include sales representatives, sales engineers, business development personnel, and customer service representatives with vertical market expertise. Customized product offering are made by sales teams that support client services, manufacturing, product development, and marketing teams to provide products that meet the needs of the client.

Market distributors such as ScanSource and BlueStar operate as a wholesale distributor of electronic physical security and mobile technologies. These distributors work closely with resellers and vendors to provide technical support and information to sell proper solution to the end user. Value-Added Resellers (VARs) have adapted to shrinking hardware margins by incorporating advanced software and technology and forming stronger strategic partnerships with tablet-based and mobile-based mobile POS players. These VARs provide customer specific personalized services for added support and expertise. On-site staff training and after sales services form an important component of these services and are expected to continue as a vital business model. Mobile POS terminals market end-use industries include SMBs, retail, hospitality, restaurants, hospitals, warehouse and entertainment.

What Information does this report contain?

What was the historic market data from 2012 to 2015, what is the industry growth forecast from 2016 to 2023?
A detailed analysis of regulatory trends, growth drivers, industry pitfalls, challenges and opportunities for participants
Which are the leading market products, applications & regions and how will they perform by 2023?
What are the technology & innovation trends, how will they evolve by 2023?
Which companies lead the industry, how are they positioned in the market in terms of sustainability, competency, production capacity and strategic outlook?

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