Global Mobile Point-Of-Sales Market

Mobile Point Of Sales Market Size, Share, Growth Analysis, By Solution Type(Integrated Card Reader Solutions, Card Reader Accessories), By Technology(Hybrid Technology Solutions, EMV Chip) - Industry Forecast 2024-2031


Report ID: SQSG45J2009 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 67 | Figures: 75

Mobile Point Of Sales Market Insights

Global Mobile Point Of Sales Market size was valued at USD 32.45 billion in 2019 and is poised to grow from USD 36.07 billion in 2023 to USD 85.11 billion by 2031, growing at a CAGR of 11.1% in the forecast period (2024-2031).

The demand for cashless transactions among consumers around the world is giving the global market for mobile point-of-sale (mPOS) a considerable boost. Because of the mobility-enabled low total cost of ownership (TCO) and user-friendliness that mPOS systems provide, the industry is expected to continue seeing rapid expansion over the coming years.

The global adoption of trying to cut payment systems like Mobile Point of Sale (mPOS) has been prompted by the ongoing shift of payment methods from cash to electronic payments. The adoption of mPOS as card acceptance solutions in both developed and developing nations worldwide has increased its popularity over more conventional payment options. The ability of mPOS to wirelessly connect with smartphones or tablets via a mobile card reader increases usage every day. Potentially growing interest among merchants and retailers is the system's beneficial attributes of low starting cost, rapid onboarding, transparent pricing, and ability to provide value-added services. Mobile point of sale (mPOS) systems are convenient, affordable, and appropriate for many kinds of enterprises. They feature SIM card slots that make it possible for merchants to do business successfully from a distance. During the forecast period, the size of the market for mobile point of sale (mPOS) devices is anticipated to increase.

US Mobile Point Of Sales Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2024-2031

Global Market Size

USD 32.45 billion

Largest Segment

Integrated Card Reader Solutions

Fastest Growth

Integrated Card Reader Solutions

Growth Rate

11.1% CAGR

Global Mobile Point Of Sales Market 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
Global Mobile Point Of Sales Market Size by Solution Type 2021-2028 ($ Bn)
Global Mobile Point Of Sales Market Size by Solution Type 2021-2028 (%)

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Mobile Point Of Sales Market Segmental Analysis

The Global Mobile Point-Of-Sales Market is segmented based on the Solution type, Technology and region. Based on the Solution Type, the market is segmented as Integrated Card Reader Solutions, Card Reader Accessories. Based on the Technology, the market is segmented as Hybrid Technology Solutions, EMV Chip and Pin, Magnetic-Stripe, Chip and Sign, NFC, Biometrics. Based on Region Mobile Point Of Sales Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.

Mobile Point Of Sales Market Analysis by Solution Type

The integrated card reader solutions market has surpassed the card reader accessories market in terms of growth rate. The integrated card reader solutions market is anticipated to grow at a CAGR of 40.5 percent over the course of the forecast period because to the integration of complex algorithms and better-performing software to meet the demands of mobile point-of-sale consumers. More than integrated card reader solutions, the need for card reader accessories has been growing. Due to the low cost of these accessories, which makes them accessible to small and medium sized businesses (SMBs) and micro merchants, researchers estimate the situation to remain as is for the next few years.

Mobile Point Of Sales Market Analysis by Technology

By type of technology, the market is divided into biometrics, near field communication (NFC), chip and sign, magnetic stripes, and hybrid technology solutions for EMV chip and pin and chip and sign transactions. In this market, NFC, EMV chip and pin, and hybrid technology solutions are now the most popular options. These technologies will continue to be in great demand during the upcoming years. During the projected period, the EMV chip and pin is expected to dominate the technology sub-segment. In industrialised countries, the EMV chips and pin are employed in a variety of applications. As a result, it is projected that it will encourage the sub-growth segment's over the forecast period. The number of other technologies, however, is expanding quickly. Alongside the development of portable POS machines, other crucial technologies are also progressing. For instance, the Apple IPad POS system, which debuted with iOS 11, supports NFC-enabled applications and aims to take the lead in the industry.

Global Mobile Point Of Sales Market By Solution Type, 2021 (%), 2023 (%)

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Mobile Point Of Sales Market Regional Insights

In terms of location, the Middle East and Africa, South America, Europe, North America, and Asia Pacific make up the majority of the world's mPOS market. In 2016, Europe dominated the global market with a share of 34%. Over the past few years, the substantial growth of cloud computing has had a huge impact on the European market. Due to the growing emphasis that mPOS solution suppliers are placing on merchant-related services as well as the expanding internet of things (IoT) trend in this region, it is anticipated that the Europe market for mPOS will continue to dominate the global market even in the near future. In addition, the industry in Europe is anticipated to benefit significantly over the next few years from the growing adoption of mPOS systems in European banks in an effort to give clients lower transaction fees.

North America and Asia Pacific are two regions where the mPOS industry is expected to grow strongly in the years to come. While the North American mPOS market is benefiting from the presence of numerous established players, the Asia Pacific market is anticipated to grow significantly over the coming years as a result of the improvement in the economies of several Asian nations, including China, India, Indonesia, and Japan. In the near future, it is anticipated that a number of societal factors, including favourable demographic profiles, customer confidence, and urbanisation trends, would also fuel the Asia Pacific mPOS market.

Global Mobile Point Of Sales Market By Geography, 2021 - 2028, 2024-2031
  • Largest
  • Fastest

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Mobile Point Of Sales Market Dynamics

Mobile Point Of Sales Market Driver

  • The ability of wireless POS systems to link with smartphones or tablets using a mobile card reader is advancing their adoption in a number of countries. Additionally, mobile point-of-sale systems' minimal installation costs and capacity to offer value-added services for ongoing operations are the main factors piqueing retailers' and merchants' attention. Public governance systems strongly support the deployment of the best mobile point-of-sale due to its capacity to distribute transparent pricing and payment methods. Due to the potential interests of numerous end use sectors, the global market for mobile point of sale is expected to experience exponential growth in the upcoming years.

Mobile Point Of Sales Market Restraint

  • Along with the rise in demand for mobile point-of-sale systems, an increase in cybercrime or fraudulent actions via online marketplaces has become a significant problem in the digital sphere. Increased sales of portable point-of-sale devices or terminals may be seriously hampered by trust concerns resulting from a lack of knowledge about the technological capabilities of a wireless POS system. Global companies in the mobile point-of-sale market must quickly find a solution to the major difficulty of storing and maintaining the enormous volume of data generated by transactions conducted through POS tablets or any sort of POS Android device. To keep track of the ever-increasing flow of payments over portable POS devices at any place, digital solution providers creating POS software for mobile businesses and others need to provide more reliable and effective solutions.

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Mobile Point Of Sales Market Competitive Landscape

Leading players in the worldwide mobile point-of-sale market are now competing for the top spots by expanding and enhancing their product lines. Prominent businesses are steadily broadening their company portfolios with mobile POS software and hardware by providing value-added services. To gain a competitive edge and generate the most income over the forecast period, the businesses operating in the mobile point-of-sale terminals market do their best to incorporate the most recent technological innovations into their products. Due to these terminals' improved characteristics, such as a better user experience and portability, it is anticipated that they may alter payment methods.

Mobile Point Of Sales Market Top Players Company Profiles

  • Square Inc.
  • PayPal Holdings Inc.
  • Shopify Inc.
  • iZettle AB
  • Intuit Inc.
  • SumUp Inc.
  • PAX Technology Inc.
  • Verifone Systems Inc.
  • First Data Corporation
  • Worldpay Group plc
  • Ingenico Group
  • PayAnywhere LLC
  • Adyen N.V.
  • BitPay Inc.
  • Mswipe Technologies Pvt. Ltd.
  • Paymate India Pvt. Ltd.
  • Spire Payments Ltd.
  • Citrus Pay Pvt. Ltd.
  • Ezetap Mobile Solutions Pvt. Ltd.
  • Swipe Technologies Inc.

Mobile Point Of Sales Market Recent Developments

  • In June 2022, In Australia, PAX collaborates with Transportme and integrates SmartPOS A920 to offer passengers an onboard contactless payment experience.
  • In June 2022, Abid Murshed, Head of Inside Sales at PayPal, discusses the untapped potential of cross-border e-commerce as well as PayPal's role in assisting Indian firms in utilising it in order to highlight the company's status as an advocate for small and medium-sized enterprises (SMBs).

Mobile Point Of Sales Key Market Trends

  • Rapid digital evaluation has resulted in a rising client preference for online buying platforms. In order to give customers a seamless shopping experience with the aid of simple transaction techniques, this has led to the widespread adoption of effective mPOS devices by well-known suppliers.
  • Technological developments to improve the future for the industryThe field of virtual payments has seen broad integration of numerous cutting-edge technologies. To provide its users advantages including fast speed, infrastructure security, scalability, and real-time service, a number of suppliers have begun implementing cloud-based payment methods. In turn, these elements are accelerating market growth.

Mobile Point Of Sales Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.

According to our Global Mobile Point-Of-Sales Market Analysis, Since a few years ago, the global mobile point of sale (mPOS) market has grown quickly due to shifting consumer preferences for payment methods. Additionally, the growing trend of cloud-based mobile POS is contributing to the market's expansion in a positive way. However, the market's expansion throughout the anticipated period may be hampered by rising cyber breach threats.

Report Metric Details
Market size value in 2023 USD 32.45 billion
Market size value in 2031 USD 85.11 billion
Growth Rate 11.1%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Solution Type
    • Integrated Card Reader Solutions, Card Reader Accessories
  • Technology
    • Hybrid Technology Solutions, EMV Chip, Pin, Magnetic-Stripe, Chip, Sign, NFC, Biometrics
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Square Inc.
  • PayPal Holdings Inc.
  • Shopify Inc.
  • iZettle AB
  • Intuit Inc.
  • SumUp Inc.
  • PAX Technology Inc.
  • Verifone Systems Inc.
  • First Data Corporation
  • Worldpay Group plc
  • Ingenico Group
  • PayAnywhere LLC
  • Adyen N.V.
  • BitPay Inc.
  • Mswipe Technologies Pvt. Ltd.
  • Paymate India Pvt. Ltd.
  • Spire Payments Ltd.
  • Citrus Pay Pvt. Ltd.
  • Ezetap Mobile Solutions Pvt. Ltd.
  • Swipe Technologies Inc.
Customization scope

Free report customization with purchase. Customization includes:-

  • Segments by type, application, etc
  • Company profile
  • Market dynamics & outlook
  • Region

Historical Year 2019

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Mobile Point Of Sales Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Mobile Point Of Sales Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Mobile Point Of Sales Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Mobile Point Of Sales Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Mobile Point Of Sales Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Mobile Point Of Sales Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Mobile Point Of Sales Market size was valued at USD 32.45 billion in 2019 and is poised to grow from USD 36.07 billion in 2023 to USD 85.11 billion by 2031, growing at a CAGR of 11.1% in the forecast period (2024-2031).

Leading players in the worldwide mobile point-of-sale market are now competing for the top spots by expanding and enhancing their product lines. Prominent businesses are steadily broadening their company portfolios with mobile POS software and hardware by providing value-added services. To gain a competitive edge and generate the most income over the forecast period, the businesses operating in the mobile point-of-sale terminals market do their best to incorporate the most recent technological innovations into their products. Due to these terminals' improved characteristics, such as a better user experience and portability, it is anticipated that they may alter payment methods. 'Square Inc.', 'PayPal Holdings Inc.', 'Shopify Inc.', 'iZettle AB', 'Intuit Inc.', 'SumUp Inc.', 'PAX Technology Inc.', 'Verifone Systems Inc.', 'First Data Corporation', 'Worldpay Group plc', 'Ingenico Group', 'PayAnywhere LLC', 'Adyen N.V.', 'BitPay Inc.', 'Mswipe Technologies Pvt. Ltd.', 'Paymate India Pvt. Ltd.', 'Spire Payments Ltd.', 'Citrus Pay Pvt. Ltd.', 'Ezetap Mobile Solutions Pvt. Ltd.', 'Swipe Technologies Inc.'

The ability of wireless POS systems to link with smartphones or tablets using a mobile card reader is advancing their adoption in a number of countries. Additionally, mobile point-of-sale systems' minimal installation costs and capacity to offer value-added services for ongoing operations are the main factors piqueing retailers' and merchants' attention. Public governance systems strongly support the deployment of the best mobile point-of-sale due to its capacity to distribute transparent pricing and payment methods. Due to the potential interests of numerous end use sectors, the market for mobile point of sale is expected to experience exponential growth in the upcoming years.

Rapid digital evaluation has resulted in a rising client preference for online buying platforms. In order to give customers a seamless shopping experience with the aid of simple transaction techniques, this has led to the widespread adoption of effective mPOS devices by well-known suppliers.

In terms of location, the Middle East and Africa, South America, Europe, North America, and Asia Pacific make up the majority of the world's mPOS market. In 2016, Europe dominated the market with a share of 34%. Over the past few years, the substantial growth of cloud computing has had a huge impact on the European market. Due to the growing emphasis that mPOS solution suppliers are placing on merchant-related services as well as the expanding internet of things (IoT) trend in this region, it is anticipated that the Europe market for mPOS will continue to dominate the market even in the near future. In addition, the industry in Europe is anticipated to benefit significantly over the next few years from the growing adoption of mPOS systems in European banks in an effort to give clients lower transaction fees.

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