According to a new report by Expert Market Research titled, “Global Mobile POS Terminals Market Share, Size, Report and Forecast 2024-2032″, the global mobile POS terminals market size reached a value of USD 32.78 billion in 2023. Aided by the advancements in wireless communication technology, an increase in digital payments, and the growing need for mobility in retail and hospitality sectors, the market is projected to further grow at a CAGR of 10.2% between 2024 and 2032 to reach a value of USD 78.85 billion by 2032.
Mobile POS terminals are handheld devices that facilitate various forms of digital payments at the point of sale. They can process transactions using technologies such as Near Field Communication (NFC), Bluetooth, and Wi-Fi. These devices are essential in today’s retail environments, offering businesses the flexibility to manage transactions on the go while enhancing customer service and operational efficiency.
The increasing consumer preference for digital payment methods, including credit cards, debit cards, and mobile wallets, is a major driver of the mobile POS terminals market growth. This shift is further bolstered by the rising penetration of smartphones and mobile banking services. The expansion of the retail and hospitality sectors, especially in emerging economies, is propelling the adoption of mobile POS terminals. These industries benefit from the portability and convenience of mobile POS systems in managing fast-paced consumer interactions.
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As per the mobile POS terminals market analysis, innovations in mobile technology and wireless communications have significantly enhanced the capabilities and reliability of mobile POS systems. Features such as integrated inventory management, real-time analytics, and customer relationship management (CRM) tools are becoming standard. To enhance security and streamline the transaction process, biometric authentication methods such as fingerprint and facial recognition are being incorporated into mobile POS systems. This not only reduces fraud but also speeds up the checkout process, as customers do not need to remember PINs or signatures.
As per the mobile POS terminals market outlook, retailers adopt omnichannel strategies, integrating online and offline shopping experiences, mobile POS systems are crucial in bridging these platforms. They allow for seamless inventory and order management across channels, enabling sales associates to provide a consistent and efficient service regardless of how the customer chooses to shop.
While retail remains the primary sector for mobile POS adoption, other sectors such as healthcare, hospitality, and even transportation are increasingly utilising mobile POS systems for their flexibility and efficiency, fuelling the mobile POS terminals market expansion. In restaurants, for example, servers can process payments tableside, enhancing customer service and improving table turnover rates.
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Governments worldwide are implementing stricter regulations to ensure secure electronic transactions, which encourage the adoption of advanced POS systems that offer enhanced security features, including encryption and tokenisation.
North America currently holds a substantial mobile POS terminals market share, attributed to its advanced retail infrastructure, high adoption of new technology, and stringent security regulations for payment processing. Europe follows closely, driven by similar factors, along with strong government support for digital innovation.
The Asia-Pacific region is expected to experience the highest growth rate during the forecast period, thanks to rapid urbanisation, growing retail and hospitality industries, and increasing acceptance of digital payments, especially in China, India, and Southeast Asia.
Looking ahead, the mobile POS terminals market is set to continue its upward trajectory, driven by ongoing technological advancements and growing global demand for efficient, secure transaction methods. Future trends likely to influence the market include the integration of AI and machine learning for predictive analytics, enhanced customer service capabilities, and the rise of biometric authentication technologies, which could provide additional security layers and streamline the payment process.
Market Segmentation
The market can be divided based on component, application, and region.
Market Breakup by Component
• Hardware
• Software
o Cloud
o On-Premises
• Services
Market Breakup by Application
• Restaurants
• Hospitality
• Healthcare
• Retail
• Warehouse
• Entertainment
• Others
Market Breakup by Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global mobile POS terminals market. Some of the major players explored in the report by Expert Market Research are as follows:
• VeriFone, Inc.
• PAX Global Technology Limited
• Oracle Corporation
• Ingenico
• Block, Inc.
• New POS Technology Limited
• HP Development Company, L.P.
• Clover Network, Inc.
• PayPal Holdings, Inc.
• NEC Corporation
• Other
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