USD 40.2 billion
Report ID:
SQMIG45J2288 |
Region:
Global |
Published Date: March, 2025
Pages:
195
|Tables:
90
|Figures:
71
MPOS Terminals Market size was valued at USD 40.2 billion in 2023 and is poised to grow from USD 44.5 billion in 2024 to USD 100.36 billion by 2032, growing at a CAGR of 10.7% during the forecast period (2025-2032).
The global mPOS (Mobile Point-of-Sale) terminals market growth has been driven in recent years due to increased deployments in large retailers in different store formats across regional markets. The intersection of mobile and internet payment channels during a period of robust growth in the smartphone and mobile app market is turning out to be one of the drivers for the use of mPOS terminals.
The primary growth driver for the market is the increasing concern of businesses to improve customer experience. Mobile POS is utilized as a result of queues in stores and malls that tend to waste time for consumers. Consumers, however, can process the sale directly from the retail floor in a store, paying electronically without having to spend much time waiting in queues. Such solutions increase customer satisfaction, which reinforces brand loyalty and trust, thereby companies are leaving traditional systems in favor of smartphone and tablet POS increasingly.
Emerging demand for mPOS terminals in various sectors is one of the major forces driving the total market. The low cost of rolling out mPOS within the store and security and ease of use has encouraged small and mid-size companies (SMBs) to adopt the solution for their stores. While SMBs are struggling to deal with the impact of business disruption and lost business, demand for mPOS will increase as increasing numbers of consumers use digital payments to shop remotely. Further, lower Total Cost of Ownership (TCO) and improved investment returns delivered by mPOS terminals have also raised the demand for them among SMBs.
Moreover, the new emerging market players are introducing fresh strategic moves and alliances among others riding on the growth of the market. Such strategies are mobile discounts, loyalty programs, gift cards, vouchers, and cash-back offers among others. Important trends such as increased technological advancements such as cloud-based mPOS support the growth of the market. Thus, emerging market players and technological trends provide lucrative chances for market growth.
Key Market Attributes
VeriFone unveiled a state-of-the-art, all-in-one mPOS terminal with improved security features in May 2024 with the motive of offering firms a secure and simple way to accept payments. For safe transactions, the latest device includes stronger encryption, tokenization, and fraud protection. Verifone entirely focused on the improvements to the products, increased connectivity, plug-and-play integration ease, and simple user interface. The company has ambitions to raise its market position and drive adoption of mobile point-of-sale (mPOS) technology across verticals by delivering solutions that meet the evolving needs of today's consumers and businesses.
Ingenico, in March 2022, also partnered with BharatPe, the largest fintech player in India, apart from the commerce and payment solutions for Indian merchants. This collaboration will drive the adoption of point-of-sale (POS) solutions on the path of delivering innovative and frictionless payment solutions specifically designed for Indian merchants. The tie-up has been able to leverage BharatPe's extensive merchant network and Ingenico's know-how in secure POS platforms to make financial services, online payment infrastructure, and analytics centers more accessible to business establishments. This consolidation further deepened financial penetration in the entire retail sector while also nudging India to advance on the less-cash, analytics-based, and digital economy.
In the U.S., U.K., and E.U., Adyen introduced mobile Android Point-of-Sale (POS) terminals in January 2022, giving businesses a convenient, single-device payment system. The device allows merchants to accept various payment methods, including mobile wallets, contactless, and chip-and-pin. Businesses can also publish, and update required apps such as stock management, customer engagement tools, and loyalty programs due to the built-in app management system. Adyen's Android POS terminals make business easier, improve customer satisfaction, and address the growing demand for smart, connected commerce solutions in most places by providing a scalable, integrated, and easy-to-use payment solution.
Market snapshot - 2025-2032
Global Market Size
USD 40.2 billion
Largest Segment
Hardware
Fastest Growth
Software
Growth Rate
10.7% CAGR
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Global MPOS Terminals Market is segmented by Component, Solution, Deployment, Application and region. Based on Component, the market is segmented into POS Terminals, POS Software and Services. Based on Solution, the market is segmented into Hardware and Software. Based on Deployment, the market is segmented into On-Premise and Cloud-Based. Based on Application, the market is segmented into Entertainment, Healthcare, Hospitality, Restaurant, Retail, Warehouse and Other Applications. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Analysis By Component
As per the 2024 global mPOS terminals market analysis, with a CAGR of 9.6%, the hardware segment dominated the market. The demand for enhancing customer convenience and reducing checkout time across various industries like retail, hospitality, and healthcare is fueling the rising requirement for portable payment devices. Major mPOS terminal hardware manufacturers such as VeriFone and Ingenico offer varied products such as mobile computers, tablets, and handheld terminals. These are advanced with the latest technologies such as contactless payment, NFC, and application-based capabilities and have the capability to operate in untethered modes. The global adoption of hardware-based mPOS solutions is also fueled by the growing drift towards cashless transactions.
The software component is predicted to expand significantly due to its use in operating the functions necessary like inventory, billing, and gathering customer information for managing a retail store, restaurant, or healthcare industry. For example, QVS Software, mPOS terminal software maker is in the business of developing software, applications, and storage devices that offer features like handling customer information, file control, reporting functionalities, and updating sales transactions. Providers also provide analytics options that detect usage of file I/O, response times for PLU, network usage, load balancing, and system bottlenecks for enhancing system performance. In addition, the solution offers a safe payment environment with PCI compliance to enable encrypted payments like chip cards and NFC payments like Apple Pay.
Analysis By Type
Based on the 2024 global mPOS terminals market forecast, the mobiles segment led the market, growing at a CAGR of 10.4%. This segment relies on stronger security features that immensely lower the chances of fraud and data breaches. Moreover, mobile mPOS solutions combine multiple payment channels into a single application, supporting Europay, Mastercard, and Visa (EMV) cards, Unified Payments Interface (UPI), digital wallets, QR codes, and contactless payments. The convenience, flexibility, and speed of mobile mPOS terminals are driving their adoption across industries such as financial services, hospitality, and retail, also driving further market expansion and innovation in secure digital payments.
The tablets segment is expected to record high growth with a CAGR over the forecast period. This is due to the increased integration within systems so that tablet POS solutions can now provide accounting analytics, sales monitoring, and CRM functionality. With greater transparency, flexibility, and convenience to users, tablets have become the best option for commercial operations seeking to implement advanced mobile POS solutions. Tablets' capability streamlines functions while enhancing firm knowledge and reports provide lucrative methods for market expansion. Therefore, tablet-based POS systems are predicted to experience significant growth in the global mPOS terminal market during the next couple of years.
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The Asia-Pacific mPOS terminals market accounted for nearly 30% of the share in terms of revenue in the year 2024. In the APAC market, there is growing demand for mPOS terminals driven by the widespread use of electronic payments, with particular emphasis on rapidly developing markets such as India, China, and Southeast Asia. These countries are fast embracing contactless payments and mobile wallets based on strong network back-up in mobile handsets and hyper-high smartphone adoption growth rates. APAC governments are pushing cashless payment actively with regulation frameworks and guidelines, facilitating wider acceptance of mPOS terminals among micro-merchants and small and medium businesses (SME).
The Indian mPOS terminals market is predicted to grow substantially with the fast growth in smartphone and tablet adoption in the country. It has been fueled by the growing popularity of low-cost mobile phones and increasing internet penetration. The adoption of mPOS is also being aided by government initiatives in India like Digital India and efforts towards cashless transactions. India stands as one of the primary growth drivers of mPOS adoption in Asia-Pacific following investments by retail, hotel, and e-commerce companies in mobile point-of-sale (mPOS) infrastructure to enhance consumer convenience and operational efficiency because of the growing demand for digital payments.
North America will lead the market because of growing demand from the retail and restaurant sectors in the region. As per NPD Group, Inc.; the number of restaurants in the U.S. covering both QSRs and casual, and fine dining restaurants totaled 647,288 during fall 2017. Most of the retail and restaurants in the U.S. are involved in accepting digital payments and are moving towards mPOS terminals for easy and secure payment. The U.S.-based Lilly Pulitzer fashion chain noted higher sales when it introduced an mPOS terminal for its "The Pink stores". The major retailers are adopting mPOS slowly along with their current fixed POS terminal, while the SMBs will be predicted to use solely mPOS within their stores.
As a result of the widespread adoption of contactless payments, NFC technology, and EMV card transactions, Europe is expected to lead the mPOS terminals market. The position of the region's market has been strengthened by the high demand for cashless payments among consumers and the strict regulatory environments that facilitate secure and convenient digital payments. Major mPOS solution providers such as VeriFone, Ingenico, and Adyen are also available, which is driving industry growth and innovation. Market leadership in Europe is anticipated to be maintained by rising demand for sophisticated payment solutions in retail, hotel, and transportation channels and rising use of omnichannel shopping.
With higher penetration of smartphones, more efforts toward financial inclusion, and rising demand for mobile payments, Latin America is predicted to lead the mPOS terminal market. Government efforts at going cashless and boosting e-commerce industries are driving the quick adoption of mobile point-of-sale (POS) systems in Brazil, Mexico, and Argentina. In addition, small and medium-sized enterprises (SMEs) are able to implement high-end payment technology with the emergence of cost-effective mPOS solutions by fintech players and traditional financial institutions. In the next couple of years, it is anticipated that growing adoption of contactless payments, adoption of digital wallets, and the strengthening of security measures will propel the growth of the mPOS market in Latin America.
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MPOS Terminals Market Drivers
Rise in the Utilization of Cashless Payments
Emerging Market and Growing SME Demand
MPOS Terminals Market Restraints
Data Security and Privacy Concerns
High Upfront Cost and Regular Maintenance
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To enhance their market share and technological strengths, firms in the global mPOS terminals market are increasingly engaging in strategic collaborations, mergers, and acquisitions. These collaborations help companies to merge advanced payment platforms, enhance security measures, and enhance product portfolios. The market will witness heightened consolidation as rivalry intensifies with leading players acquiring small and medium-sized companies as well as fintech players in order to increase their global scale and innovation potential.
Top Player’s Company Profile
Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the global mPOS terminals market outlook is changing rapidly due to increasing use of digital payments, higher smartphone penetration, and need for mobile-based transaction solutions. In a bid to increase customer convenience and operational efficiency, retail, hospitality, health, and banking companies are implementing mPOS technology. Large corporates are highlighting strategic alliances, mergers and acquisitions, and new product developments for enhancing their market position. Though there are such challenges as security concerns and extensive initial costs, the industry continues to expand owing to the integration of NFC advancements, AI-empowered analysis, and payment solutions based in the cloud. With ongoing technological innovations and regulatory encouragement, the world mPOS market is projected to continue growing across the world.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 40.2 billion |
Market size value in 2032 | USD 100.36 billion |
Growth Rate | 10.7% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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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 |
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the MPOS Terminals 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 MPOS Terminals 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 MPOS Terminals Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the MPOS Terminals 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.
Global mPOS Terminals Market size was valued at USD 40.2 Billion in 2023 and is poised to grow from USD 43.82 Billion in 2024 to USD 87.31 Billion by 2032, growing at a CAGR of 9% in the forecast period (2025-2032).
To enhance their market share and technological strengths, firms in the global mPOS terminals market are increasingly engaging in strategic collaborations, mergers, and acquisitions. These collaborations help companies to merge advanced payment platforms, enhance security measures, and enhance product portfolios. The market will witness heightened consolidation as rivalry intensifies with leading players acquiring small and medium-sized companies as well as fintech players in order to increase their global scale and innovation potential. 'VeriFone Systems Inc.', 'Ingenico Group (Worldline)', 'Square Inc. (Block, Inc.)', 'PayPal Holdings Inc.', 'Adyen N.V.', 'Samsung Electronics Co., Ltd.', 'FIS (Fidelity National Information Services, Inc.)', 'Fiserv, Inc.', 'PAX Technology Limited', 'Newland Payment Technology', 'BBPOS Limited', 'SumUp Inc.', 'Toast, Inc.', 'Clover Network, Inc. (A Fiserv Company)', 'Zettle by PayPal'
The adoption of mPOS terminals is being driven by the reduction in cash-based transactions worldwide and the growing shift towards electronic payments. To improve the customer experience, businesses look for payment options that are convenient, secure, and faster. Additionally, authorities across the world are encouraging cashless economies, and this is accelerating the usage of mobile point-of-sale (POS) devices in industries like retail, hospitality, and transport.
Increasing Application of AI and Advanced Analytics: Machine learning algorithms and AI-enabled analytics are being utilized for mPOS terminals in organizations to examine customer behaviors, sales patterns, and stock movements instantaneously. By including AI-based features like automated fraud control, predictive analysis, or marketing suggestions, both productivity and efficiency are enhanced in most businesses. Integration of big data dans through analytics is also making things easy for organizations when it comes to data-driven business decisions, improving customer engagement, and operational efficiencies.
The Asia-Pacific mPOS terminals market accounted for nearly 30% of the share in terms of revenue in the year 2024. In the APAC market, there is growing demand for mPOS terminals driven by the widespread use of electronic payments, with particular emphasis on rapidly developing markets such as India, China, and Southeast Asia. These countries are fast embracing contactless payments and mobile wallets based on strong network back-up in mobile handsets and hyper-high smartphone adoption growth rates. APAC governments are pushing cashless payment actively with regulation frameworks and guidelines, facilitating wider acceptance of mPOS terminals among micro-merchants and small and medium businesses (SME).
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Report ID: SQMIG45J2288
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