What Has Driven the Growth of the mPOS Terminals Market in Recent Years?
The mpos terminals market has seen considerable growth due to a variety of factors.
• The market size of mPOS terminals has experienced a swift expansion in the past few years. The market is projected to expand from a worth of $40.53 billion in 2024 to a value of $47.91 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 18.2%. The remarkable growth during the historic period is due to the advent of smart devices, changes in payment trends, the entrance of new market players, regulatory shifts, and market consolidation.
How Will the mPOS Terminals Template Market?
The mPOS Terminals market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipated to experience massive expansion in the coming years, the mPOS terminals market is projected to reach a value of $99.73 billion by 2029, with a compound annual growth rate (CAGR) of 20.1%.
This surge over the forecast period can be credited to a higher market penetration, increase in digital transactions, incorporation of e-commerce, the rise of remote work and transactions, and shifts in consumer behavior. The forthcoming period is also expected to witness major trends like the implementation of AI and analytics, adoption of mPOS solutions based on the cloud, use of contactless and NFC payments, integration of IoT, and a shift towards software-as-a-service (SaaS) models.
Which Factors Are Boosting Growth In The mPOS Terminals Market?
The anticipated surge in digital payments is slated to propel the mPOS terminal market's expansion. Digital payments involve transactions occurring online or via digital methods, eliminating the need for physical cash. Mobile POS systems, via near-field communication (NFC), facilitate contactless payments by allowing users to simply wave one NFC-compatible device over another and accept payments through digital wallets. As stated in a 2022 World Bank report, a firm based in the U.S. offering financial products and technical assistance, as of 2021, 76 percent of adults worldwide have a bank, another financial institution, or a mobile money provider account. Another 2022 study by McKinsey & Company revealed that not only did digital payment penetration grow to 89 percent in 2022, but the proportion of respondents using at least two forms of digital payments saw an even sharper increase from 51 percent in 2021 to 62 percent. This proliferation of digital payments serves as a driving force for the growth of the mPOS terminal market.
What Key Areas Define The Segmentation Of The Global mPOS Terminals Market?
The mPOS terminals market covered in this report is segmented –
1) By Component: POS Terminals, POS Software, Services
2) By Solution: Hardware, Software
3) By Deployment: On-Premise, Cloud-Based
4) By Application: Entertainment, Healthcare, Hospitality, Restaurant, Retail, Warehouse, Other Applications
Subsegments:
1) By POS Terminals: Mobile Card Readers, Integrated POS Systems, Tablet-based POS Systems, Contactless Payment Terminals
2) By POS Software: Payment Processing Software, Inventory Management Software, Customer Relationship Management (CRM) Software, Analytics And Reporting Software
3) By Services: Installation And Maintenance Services, Training And Support Services, Consulting Services, Transaction Processing Services
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How Are Emerging Trends Reshaping The Dynamics Of The mPOS Terminals Market?
Advancements in technology are becoming a significant trend in the mPOS terminals market. To remain competitive, key companies in the sector are developing cutting-edge solutions. As an example, the US-based business tools producer, Square, introduced Square for Restaurants mobile POS in May 2022. The distinctive feature of Square is its ability to aid restaurants of various types and sizes, but especially full-service restaurants, in enhancing their profitability and operational efficiency. With Square, restaurant staff can process orders and payments swiftly and conveniently, whether at the tables or in queues. Despite staff shortages, eateries using the Square for Restaurants mobile POS pilot program can still boost their income and serve more customers.
Who Are the Key Players In The mPOS Terminals Market?
Major companies operating in the mPOS terminals market include:
• Ingenico Group
• PAX Global Technology Limited
• NCR Corporation
• Oracle Corporation
• VeriFone Inc.
• AURES Group
• Fiserv Inc.
• Intuit Inc.
• New POS Technology Ltd.
• Newland Auto-ID Tech. Co. Ltd.
• Panasonic Holdings Corporation
• PAR Technology
• Posiflex Technology Inc.
• Square Inc.
• Zebra Technologies Corp.
• BBPOS Limited
• Bitel Co. Ltd.
• Diebold Nixdorf Incorporated
• Fujian Newland Payment Technology
• HP Development Company L.P.
• Micros Systems Inc.
• NEC Corporation
• SAMSUNG ELECTRONICS
• Shenzhen Zhengtong (SZZT) Electronics Co Ltd
• Adyen N.V.
• iZettle AB
• PayPal Inc.
• Sage Pay Limited
• SumUp Payments UAB
What Is The Most Dominant Region In The mPOS Terminals Market?
North America was the largest region in the mPOS terminals market in 2024. The regions covered in the mPOS terminals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
