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mPOS Terminals Market Size By Solution (Hardware [Handheld Terminals, Tablet], Software) By Deployment (On-Premise, Cloud-Based), By Application (Entertainment, Healthcare, Hospitality, Restaurant, Retail [Convenience Store, Department Store, Supermarket/Hypermarket, Discount Store, Specialty Store], Warehouse), COVID-19 Impact Analysis, Regional Outlook, Price Trend Analysis, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032

  • Report ID: GMI464
  • Published Date: Nov 2022
  • Report Format: PDF

Industry Statistics

mPOS Terminals Market size surpassed USD 25 billion in 2022 and is projected to register 10% CAGR from 2023 to 2032. Technological advancements and the replacement of aging POS systems with modern terminals for improved payments via NFC-enabled cards or apps will support industry growth.
 

Rapid digitization in the retail sector and the rising use of digital payment platforms such as Google Pay and Amazon Pay will drive the deployment of mPOS terminals. Low installation costs, ease of accessibility, and the availability of renting devices for small businesses have encouraged product adoption in recent years.
 

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Growing concerns associated with cyberattacks could restrain the espousal of mPOS systems. Robust implementation of mPOS devices in industries has escalated worries regarding data security. With the swift penetration of smart technologies and mobile devices, the incidences of sophisticated cyberattacks have surged at a substantial rise in recent years. However, developed countries such as the U.S., Japan, and the UK could bolster the mPOS terminals market expansion owing to the presence of a massive internet and smartphones user base coupled with the growing reliance on card payments methods.
 

Need for higher sales and productivity to accelerates the demand for mPOS software

mPOS terminals market from the software segment is anticipated to attain over 15% gains through 2032. The increasing use of mPOS software can be attributed to surging demand for user-friendly, faster, and scalable checkout systems. Organizations are rapidly installing point-of-sale software in order to improve the efficiency of employee & customer management, tracking sales and overall business performance. Digitization of retail, restaurant, and hospitality industries should proliferate the dependence on mobile POS software.
 

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Rise in data breaches & cyberattacks will boost the deployment of on-premise mPOS terminals

On-premise deployment type captured more than 50% of the mPOS terminals market share in 2022. Despite the increasing popularity of cloud-based models, merchants continue to prefer on-premise mPOS as it offers better security and dependability. The ability to effectively protect the financial data of clients has incited companies to switch to these models. The soaring incidences of data breaches and cyberattacks will elevate the demand for secure and comprehensive software pertaining to customer management and inventory control operations. This should positively influence the uptake of these solutions.
 

Rising implementation of mobile point-of-sale terminals in restaurant industry

The mPOS terminals market revenues from restaurants application is estimated to reach USD 20 billion by 2032. Restaurants are steadily transitioning to digitally equipped businesses and streamlining the ordering and processing operations with the help of flexible & scalable payment options for optimum power usability and connectivity.
 

Favorable government policies to spur market evolution in APAC

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Asia Pacific mPOS terminals market is expected to observe 15% growth from 2023 to 2032. During the last decade, countries including China, India, and Japan witnessed tremendous globalization and a substantial rise in consumer awareness regarding mPOS solutions. These countries are implementing new programs and initiatives to encourage the use of mPOS solutions across a broad spectrum of business verticals.
 

Strategic growth initiatives to foster the industry development

Some of the leading mPOS terminals industry players include Panasonic Corporation, AURES Technologies SA, Ingenico Group, PAX Technology, Inc., Bitel Co., Ltd., Micros Systems, Inc., Diebold Nixdorf, Incorporated, First Data Corporation,  Fujian Newland Payment Technology, Posiflex Technology, Inc., Shenzhen Zhengtong (SZZT) Electronics Co Ltd, NCR Corporation,  Newland Payment Technology, PAR Technology Corporation, BBPOS Limited, Shenzhen Xinguodu Technology Co., Ltd,  Square Inc., Touch Dynamic, New POS Technology Limited, and VeriFone Holdings, Inc. These companies are undertaking strategic initiatives to expand their geographic footprint.
 

Impact of the COVID-19 pandemic on market trends

The COVID-19 pandemic had a positive impact on the mPOS terminals market. Due to increased focus on social distancing and mandatory use of masks to avoid contraction of COVID-19, digitization picked pace in the retail and hospitality sector. Several financial service providers raised the limits for contactless payments, thus facilitating simplified and streamlined cashless transactions. As a result, mPOS terminals gained traction as they allowed a faster and more seamless payment option.
 

This market research report on mPOS terminals includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and shipments in thousand units from 2018 to 2032 for the following segments:

Market, By Solution

  • Hardware
    • Handheld terminal
    • Tablet
  • Software

Market, By Deployment

  • On-premise
  • Cloud-based

Market, By Application

  • Entertainment
  • Healthcare
  • Hospitality
  • Restaurant
  • Retail
    • Convenience stores
    • Department stores
    • Supermarket/Hypermarket
    • Discount stores
    • Specialty stores
    • Other stores
  • Warehouse
  • Others

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia & New Zealand (ANZ)
    • Southeast Asia
  • South America
    • Brazil
    • Argentina
    • Chile
    • Colombia
  • MEA
    • Saudi Arabia
    • UAE
    • South Africa

 

Authors: Preeti Wadhwani, Anish Pathak

Frequently Asked Questions (FAQ) :

The market size of mPOS terminals surpassed USD 25 billion in 2022 and is projected to exhibit over 10% CAGR from 2023-2032, according to the latest research by GMI
On-premise deployment segment captured nearly 50% of the revenue share in 2022, owing to its diverse benefits like improved scalability, security, and dependability.
Asia Pacific mPOS terminals industry is projected to register 15% growth through 2032 driven by a large number of initiatives promoting the use of these solutions for digital payment transactions.
Ingenico Group, PAX Technology, Inc., Bitel Co., Ltd., Micros Systems, Inc., BBPOS Limited, NCR Corporation and VeriFone Holdings, Inc are some of the leading manufacturers of mPOS terminals.

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 11
  • Tables & Figures: 585
  • Countries covered: 22
  • Pages: 300
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