Mobile POS solutions are extensively adopted in a wide array of applications such as those pertaining to the sports & entertainment, warehouse, hospitality, retail, and food service sectors. Out of these, the retail applications are expected to register the highest adoption of mobile POS solutions during the forecast period. This is primarily attributed to the fact that the mobile POS technology drastically reduces the waiting time of the customer at the payment terminals and helps the retailers in attaining higher sales of their products at a shorter period of time.
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The other major factors pushing the demand for mobile point-of-sales solutions are the increasing internet penetration, soaring number of smartphone users, and the growing popularity of cashless transactions in several countries across the world. Due to these factors, the global mPOS terminals market attained a valuation of $19.5 billion in 2019 and is expected to demonstrate a CAGR of 17.9% during the forecast period (2020—2030).
The objective of this research includes;
- Historical and the present size of the digital twin market
- Future potential of the market through its forecast for the period 2020– 2030
- Historical and the present size of the market segments and understand their comparative future potential
- Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
- Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders
- Major players operating in the gene therapy market and their service offerings
- Recent strategic developments by the major players in the market
One of the major trends currently being witnessed in the mobile point-of-sale (mPOS) terminals market is the rising preference of companies toward the adoption of cloud-based solutions. This is mainly due to the fact that the cloud-based mobile POS solutions have no on-site server requirements and therefore, have lower operational costs than the conventionally used POS solutions. According to Mckinsey & Company Inc., in the retail sector, the incorporation of cloud-based solutions is expected to increase from 57% in 2018 to 71% by the end of 2020.
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Globally, the Asia-Pacific (APAC) region is predicted to register the fastest growth in the adoption of mobile POS terminals during the forecast period. This is primarily credited to the huge advancements of the retail, healthcare, and hospitality sectors in the region, owing to the rapid economic growth of various APAC countries such as China and India. In addition to this, the flourishing retail sector and the increasing popularity of contactless payments are expected to further boost the usage of mobile POS terminals in the region in the coming years.
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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