New York City, NY -- (SBWIRE) -- 09/01/2020 -- with the rising number of people preferring cashless payments, the global mobile POS market, which generated $19.5 billion in 2019, is predicted to experience a 17.9% CAGR between 2020 and 2030 (forecast period). This is because mPOS terminals enable companies to receive contactless payments and speed up the checkout process.
Till 2030, the retail category will continue generating the highest revenue in the mobile POS terminals market, as retailers are increasingly deploying such systems to help customers pay for stuff at any place in the store, which helps save the time otherwise wasted in long queues. For instance, in 2018, POS terminals were deployed in 350 stores across the U.S. by Walmart Inc.
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During the forecast period, faster growth in the mobile POS terminals market would be witnessed by the cloud bifurcation, at a CAGR of 21.6%. This is attributed to the numerous advantages of cloud-based mPOS solutions, such as better access to the data from any device, anywhere, reduced expenditure on IT infrastructure, and automatic backup of data.
Asia-Pacific (APAC) dominated the mobile POS terminals market in 2019, and it will keep contributing the highest revenue till 2030. This is ascribed to the advancing healthcare, retail, and hospitality industries in the region, as a result of the high rate of urbanization. Mobile point-of-sale terminals find widespread adoption in the retail industry, which is the largest in APAC.
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Major companies in the global mobile POS terminals market include Posera Ltd., PAR Technology Corporation, Ingenico Group S.A., Newland Payment Technology, New POS Technology Limited, PAX Technology Corporation, Touch Dynamic, Square Inc., Shenzhen Xinguodu Technology Co. Ltd., VeriFone Holdings Inc., Samsung Electronics Co. Ltd., HP Inc., Panasonic Corporation, NCR Corporation, Lenovo Group Limited, Toshiba Corporation, QVS Software Inc., Oracle Corporation, Zebra Technologies Corporation, SPECTRA Technologies Holdings Co. Ltd., First Data Corporation, Diebold Nixdorf Incorporated, BBPOS Ltd., Aures Technologies S.A., SZZT Electronics Shenzhen Co. Ltd., Toast Inc., Bitel Co. Ltd., and Posiflex Technologies Inc.
The research includes detailed analysis of;
Based on Component
-Hardware
Handheld terminal
Tablet
-Software
Based on Deployment Type
- On-Premises
- Cloud
Based on Application
- Food Service
- Hospitality
Lodging establishment
Hotel & motel
- Healthcare
- Retail
Convenience stores
Department stores
Supermarkets/hypermarkets
Discount stores
Specialty stores
- Warehouse
- Sports & Entertainment
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