Global MPOS Market By Solution Overview
Global mPOS Market was valued at US$ 25 Billion in 2024 and is projected to grow at a CAGR of 12.30% to reach US$ 80 Billion by 2034.
Mobile Point of Sale or mPOS is a portable system on the smart-phones or tablets and functions as a register. This system is an ideal way for the businesses like food trucks, vendors in the market, and home repair services in order to take credit card payments. Increasing demand for the contactless payments, coupled with growing preferences of users towards cashless payments especially mobiles transactions are key reasons driving growth of the mobile point-of-sale (mPOS) market.
In addition, growing popularity of cloud-supported solutions in information technology sector is another factor expected to propel growth of the target market in the near future. Furthermore, growing adoption of NFC-ready mPOS terminals based terminals is another factor anticipated to propel growth of the market over the forecast period.
The mPOS market has been segmented on the basis of solution type, technology, end user, and region.
On the basis of solution type the target market has been segmented into integrated card reader solutions and card reader accessories. Further Card reader accessories solution type sub-segment is categorized as dongles and sleeves. On the basis of technology the target market has been segmented into hybrid technology Solutions, EMV chip and pin, magnetic-stripe, chip and sign, near field communication (NFC), and biometrics. On the basis of end-user the target market has been segmented restaurants, hospitality, health care, retail, warehouse/distribution, entertainment, transportation, government, and consumer utility services. Further transportation end-user sub-segment is categorized into public transport, rental cars, and intercity buses.
On the basis of region the target market has been segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America is expected to account major market share in terms of revenue as compared to that of other regions and ie expected to continue its dominance during the forecast period.
Key players operating in the mPOS market includes Recruit Holdings Co. Ltd., PAX Technology Ltd., Intuit Inc., Ingenico S.A., PayPal Holdings Inc., iZettle AB, VeriFone Systems Inc., First Data Corp., Oracle Corp., Posiflex Technology Inc., Zebra Technologies Corp.,Square Inc., Dspread Technology Inc., Citizen Systems Europe GmbH, Hewlett-Packard Development Co. L.P., and Bixolon Co. Ltd.
FAQs
The mPOS Market is segmented into solution type, technology, end user, and region.
Factors include the rise in mobile payments, demand for flexible and portable point-of-sale solutions, and advancements in wireless communication technology, driving global growth in the mPOS market.
Challenges include security concerns, potential interoperability issues, and competition from traditional POS systems, posing restraints on the market.
By region, the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America market is estimated to witness a significantly high revenue share over the forecast period.
The key players operating the target market includes, Recruit Holdings Co. Ltd., PAX Technology Ltd., Intuit Inc., Ingenico S.A., PayPal Holdings Inc., iZettle AB, VeriFone Systems Inc., First Data Corp., Oracle Corp., Posiflex Technology Inc., Zebra Technologies Corp.,Square Inc., Dspread Technology Inc., Citizen Systems Europe GmbH, Hewlett-Packard Development Co. L.P., and Bixolon Co. Ltd.