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), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Mar 2020  |  Report ID: GMI464  |  Authors: Preeti Wadhwani, Saloni Gankar

Report Format: PDF   |   Pages: 350   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry Trends

mPOS Terminals Market size surpassed USD 20 billion in 2019 and is poised to grow at a CAGR of around 19% between 2020 and 2026. The global industry shipments will reach 55 million units by 2026.
 

The adoption of smartphones, tablets or dedicated wireless devices that performs the functions of a cash register will help retailer industry facilitate fast and secure transactions, augmenting the market growth.
 

mPOS Terminals Market

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The rising penetration of smartphones and internet penetration in China, India and South Africa market will drive the mPOS terminals market growth. In 2018, there were around three billion smartphone users globally, which is estimated to exceed 3.8 billion by 2021. The growing market demand for mPOS terminal can be attributed to its low installation cost, ease of accessibility of the devices, and the availability of renting on a monthly basis for small businesses. Mobile POS terminal offer a cost-effective, compact, and scalable solutions for end users.
 

Growing trend of online shopping among consumers and the ongoing expansion by retail players are factors driving the market demand. In 2018, the retail industry had around 1.5 billion online customers, which is expected to exceed 2.5 billion by 2021. With the expansion of global e-commerce & retail sector, the demand for fast, effective, and secure payment processing devices is increasing, encouraging retailers to implement mobile POS terminal, as they provide better and quicker customer service, and help drive the sales performance.
 

mPOS Terminals Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: 20 Billion (USD)
Historical Data for: 2015 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 19% 2026 Value Projection: 80 Billion (USD)
Pages: 350 Tables, Charts & Figures: 529
Geographies covered (19): U.S., Canada, UK, Germany, France, Italy, Spain, Russia, China, India, Japan, Australia, Singapore, South Korea, Brazil, Mexico, UAE, South Africa, Saudi Arabia
Segments covered: Solution, Deployment, Application
Companies covered (39): AURES Technologies SA, BBPOS Limited, Bitel Co., Ltd., Diebold Nixdorf, Incorporated, First Data Corporation, Fujian Newland Payment Technology Co., Ltd., Ingenico Group, Micros Systems, Inc., NCR Corporation, New POS Technology Limited, Newland Payment Technology, Panasonic Corporation, PAR Technology Corporation, PAX Technology, Inc., Posiflex Technology, Inc., Shenzhen Xinguodu Technology Co., Ltd, Shenzhen Zhengtong (SZZT) Electronics Co Ltd., Square Inc., Touch Dynamic, VeriFone Holdings, Inc., Apple, Inc., Hewlett Packard Company, Lenovo Group Limited, Samsung Electronics, Co. Ltd., AccuPOS, Agilysys, eMobilePOS, Epos Now, Intuit-GoPayment, iZettle, Lightspeed Retail, PayPal Here, Revel Systems, Inc, Shopify POS, ShopKeep POS, Toast, Inc., TouchBistro, Upserve-Groupon Breadcrumb, Vend HQ
Growth Drivers:
  • EMV card penetration in the U.S.
  • Surge in NFC / contactless payment in the UK
  • Stringent government regulations across Europe
  • Rising number of online payments in China
  • Demonetization effect in India
  • Proliferation of RFID tagging in Japan
  • Infrastructure development in Latin America
  • Growth in the retail industry across the Middle East
Pitfalls & Challenges:
  • Data security concerns
  • Lack of standardization

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Growing adoption of tablets in retail sector is propelling the mPOS terminals market growth

Increasing market adoption of tablets and presence of high-speed internet connectivity in developed economies are driving the sales for mPOS terminals. For instance, the number of tablet users in Germany increased from 14.8 million in 2017 to 39 million users in 2018. The tablet-based mPOS terminals support diverse market applications such as self-ordering, shopping assistance, and inventory management, and help improving retail productivity.
 

Such benefits are encouraging retailers to shift their traditional point-of-sale terminals to tablet devices, creating seamless shopping experiences for their customers. In April 2018, Walmart Inc., implemented mobile POS terminal in its stores, providing frictionless purchasing experience to its customers. In 2016, in the UK, around 38 million transactions were done using mobile devices. The rise in traffic in shopping malls & retail stores is encouraging owners to adopt advanced payment devices, making shopping easier and quicker for their customers. The adoption of mobile POS terminal allows them to save time and cost, serving customers more quickly & easily.
 

Rise in market demand for cloud-based mPOS terminals for inventory and stock management

Cloud deployment segment is witnessing high market demand for mPOS terminals due to their capability to track & record transactions related to customer purchase histories. These systems also help collect necessary information required for growth and profit of businesses, encouraging small retailers to adopt these devices to manage the stock & inventory.
 

The increasing market demand for easy & secure payment methods has encouraged market players, such as Square Inc. and NCR Corporation, to develop advanced payment solutions to cater to the growing demands of customers. For instance, ERPLY has developed self-service mPOS systems compatible with iPads, allowing customers to have faster payment transactions on their smartphones and enhancing their shopping experience.
 

High demand for flexible and scalable payment solutions in the restaurants

U.S. mPOS terminal market

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The growing demand for mobile POS terminals among restaurants including cafes, bakeries, quick service restaurants, bars and fast food chains is due to their ability of managing inventory, cost and labor at reduced cost. These solutions simplify order management and increase customer satisfaction with faster payment processing. They enable the restaurants to accept and handle orders effectively and allow to track real-time inventory usage.
 

mPOS terminal can also be networked to other peripheral equipment including kitchen printers, receipt printers, and displays, thereby allowing a seamless communication between back and front-end processes. Moreover, the terminals are much cheaper and compact than the traditional POS systems, driving the adoption of these systems in the sector.
 

Growing need of restaurant owners to increase productivity and integration of advanced technology is propelling the mPOS terminals market demand. Restaurants are adopting flexible and scalable payment solutions to balance their connectivity and power usability by streamlining the ordering and processing operations. Easier and faster training to use the mobile POS terminal can be provided to the waitstaff in a fraction of time. It allows the waiters to bring the POS tableside, which improves the speed & accuracy and leaves a great impression on the customers.
 

Demand for cashless transactions and digital payment techniques in the Europe

Europe mPOS terminal market

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In Europe, the end-use industries such as restaurant, hospitality and retail are implementing cashless transactions, which has resulted in a market shift toward digital transactions. Several industries in Europe are implementing digital sales channels to remain competitive in the market, leading to a rise in the number of e-commerce websites and transactions. The rise in adoption of digital payment techniques is encouraging market players to provide innovative mPOS terminal to simplify payment transactions.
 

For instance, in February 2018, Ingenico Group launched the Google Pay Smart Tap in the UK. This allows businesses to offer consumers an enhanced payment experience during shopping, as Smart Tap integration allows the use of offers, gift cards, and loyalty cards during the point-of-sale that have been saved to Google Pay. Moreover, software developing firms in Europe market are offering different mobile solutions for improving productivity and sales of business in restaurant and retail industries such as self-service ordering kiosks and touchscreen vending machines.
 

Industry players are focusing on new alliances and are investing in R&D activities

Some of the key mPOS terminals market players include Fujian Newland Payment Technology Co., Ltd., Ingenico Mobile Solutions, NCR Corporation, First Data Corporation, Bitel Co., Ltd., Oracle (Micros), Diebold Nixdorf, BBPOS, PAX Global Technology, New POS Technology, SZZT Electronics, Verifone, Zebra Technologies, Shenzhen Xinguodu Technology Co., Ltd, Square Inc., and Posiflex Technology.
 

The industry players are focusing on entering strategic partnerships to enhance profitability and expand their market presence. For instance, in January 2020, Square Inc. announced a partnership with United Parcel Service of America, Inc. to provide its e-commerce customers with UPS shipping connectivity. This collaboration allows SMBs to efficiently fulfill e-commerce orders and easily manage shipping in one place. The strategic alliance is anticipated to strengthen market position of Square Inc in North America region.
 

The mPOS terminals market analysis report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and shipments in units from 2016 to 2026 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
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • Singapore
    • South Korea
    • Australia
  • Latin America
    • Brazil
    • Mexico
  • MEA
    • Saudi Arabia
    • UAE
    • South Africa

 

Frequently Asked Questions (FAQ) :

Cloud deployment segment is witnessing high market demand for mPOS terminals due to their capability to track & record transactions related to customer purchase histories.
Some of the key market players include Fujian Newland Payment Technology Co., Ltd., Ingenico Mobile Solutions, NCR Corporation, First Data Corporation, Bitel Co., Ltd., Oracle (Micros), Diebold Nixdorf, BBPOS, PAX Global Technology, New POS Technology, SZZT Electronics, Verifone, Zebra Technologies, Shenzhen Xinguodu Technology Co., Ltd, Square Inc., and Posiflex Technology.
In Europe, the end-use industries such as restaurant, hospitality and retail are implementing cashless transactions, which has resulted in a market shift toward digital transactions, eventually driving the demand for mPOS terminals.
Technologies like NFC, IoT and mobile payment applications have supported the adoption of mobile POS terminals.

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