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Global mPOS Market to Ship 245.21 mn Units by 2022, Rising Adoption of mPOS Solutions in SMBs to Drive Growth : Transparency Market Research

Albany, NY, April 07, 2016 (GLOBE NEWSWIRE) -- Transparency Market Research (TMR) has recently published a new research report on the global mobile point-of-sale (mPOS) market. According to it, in 2014, 11.87 mn mPOS units were shipped across the world. Analysts at TMR anticipate this market to expand at an impressive CAGR of 47.0% during the period from 2015 to 2022 and reach a figure of 245.21 mn annual shipment units by the end of the forecast period.The market report is titled “Mobile Point-of-Sale (mPOS) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2022.”

According to the report, the ease of utilization and the cost efficiency of mPOS solutions have driven the adoption of these solutions in the global arena. In the coming years, the rate of mPOS uptake in large businesses as well as small- and medium-sized businesses (SMBs) is projected to increase, stimulating the global mPOS market significantly.In this report, the worldwide mPOS market has been analyzed on the basis of the type of solution, the technology applied, and the end user.

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Based on technology, the mPOS market has been categorized into hybrid technology solutions, magnetic stripe, EMV chip and pin, chip and sign, biometrics, and near field communication (NFC). Hybrid technology solutions, NFC-based solutions, and EMV chip and pin are anticipated to register the fastest growth in the overall market over the forecast period, notes the research study.

Based on the type of solution, the market has been classified into card reader accessories and integrated card reader solutions. Further, the card reader accessories segment has been divided into dongles and sleeves.

By end use, the report has segmented the global mPOS market into restaurants, healthcare facilities, the hospitality (lodging) sector, the retail industry, the entertainment industry, warehouses/distribution channels, the transportation industry, the government sector, and the consumer utility services market.

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iZettle AB, PAX Technology Ltd., VeriFone Systems Inc., Square Inc., Hewlett-Packard Development Co. L.P., PayPal Holdings Inc., First Data Corp., Intuit Inc., Toshiba Corp., Ingenico S.A., and Oracle Corp. are the major players operating in the global mPOS market, says the market study.

These players are increasingly focusing on the mPOS markets in India, China, Mexico, and Brazil owing to a substantial rise in demand, driven by the increased penetration of smartphones and the rising trend of cashless transactions. Analysts at TMR expect the mPOS market in India to witness the fastest growth at a CAGR of 55.80% over the forecast period in terms of shipment.

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The mPOS market in the Rest of World is also anticipated to register a substantial rise in the coming years, states the research report.

The global mPOS market is segmented into:

By Solution Type

  • Integrated Card Reader Solutions
  • Card Reader Accessories
  • Dongles
  • Sleeves

By Technology

  • Hybrid Technology Solutions
  • EMV Chip and Pin
  • Magnetic-Stripe
  • Chip and Sign
  • Near Field Communication (NFC)
  • Biometrics

By End-use

  • Restaurant
  • Hospitality (Lodging)
  • Healthcare
  • Retail
  • Warehouse/Distribution
  • Entertainment
  • Transportation
  • Public Transport
  • Rental Cars and Intercity Buses
  • Government
  • Consumer Utility Services

By Geography

  • China
  • India
  • Brazil
  • Mexico
  • Rest of the World (RoW)

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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Source:Transparency Market Research