Mobile POS Terminals Market accounted for US$ 8.66 billion in 2020 and is estimated to be US$ 25.76 billion by 2030 and is anticipated to register a CAGR of 11.5%. Mobile POS terminals have progressed from simple payment processing devices to advanced analytics solution providers with increased processing power and wireless connectivity. The adoption of consumer-grade devices for commercial usage, like as tablets, shifted the direction of these terminals. The market for mobile POS terminals has been pushed by ubiquitous wireless connectivity like as Bluetooth, availability of mobile printers, scanners, card readers, and peripheral devices, and support for different platforms.
The report ” Global Mobile POS Terminals Market, By Product Type (Fixed POS Terminals, Wireless POS Terminals, and Mobile POS Terminals), By Application (Financial Institutions and Third-party Payment Institutions), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Trends, Analysis and Forecast till 2030’’
- In 2021, Paytm has announced that it will convert NFC-enabled Android smartphones into point-of-sale terminals in order to attract more retailers in one of the world’s top mobile payment markets. Paytm merchant partners can now enable card acceptance on their NFC-enabled smartphone through the Paytm Business app, according to the Indian startup. They’ll be able to complete a transaction by tapping a plastic card to their phone after it’s been activated.
The mobile POS terminals business is predicted to develop due to sophisticated data analytics, growing credit card payments, and ever-changing consumer expectations. Retailers have been urged to use new applications and tactics to provide a more seamless consumer experience as a result of this expansion. As a result of the flexibility of mobile applications to develop new revenue channels, vendors are increasingly attempting to understand the many marketing channels accessible in order to harness technology to compete. SMBs have been drawn to invest in this technology because of the flexibility of having a tablet-based mobile POS and the low installation expenses.
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Key Market Insights from the report:
Global Mobile POS Terminals Market accounted for US$ 8.66 billion in 2020 and is estimated to be US$ 25.76 billion by 2030 and is anticipated to register a CAGR of 11.5%. The global mobile POS terminals market report segments the market on the basis of product type, application, and region.
- Based on Product Type, Global Mobile POS Terminals Market is segmented into Fixed POS Terminals, Wireless POS Terminals, and Mobile POS Terminals.
- Based on Application, Global Mobile POS Terminals Market is segmented into Public Cloud, Private Cloud, and Hybrid Cloud.
- By Region, the Global Mobile POS Terminals Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Global Mobile POS Terminals Market:
The key players operating the Global Mobile POS Terminals Market involves VeriFone, Inc., Hewlett-Packard Company, NEC Corporation, Panasonic Corporation, PAX Technology Ltd., Posiflex Technology Inc., QVS Software Inc., Ingenico Group SA, Zebra Technologies Corp. and First Data Corporation
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.