Product ID: UCMIG45J2151
Report ID:
UCMIG45J2151 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The mPOS (mobile Point of Sale) Terminals market achieved a significant milestone by exceeding USD 25 billion in 2022, and it is poised for continued expansion with an anticipated compound annual growth rate (CAGR) of 10% from 2023 to 2032. This growth trajectory is underpinned by rapid technological advancements that are driving the replacement of outdated Point of Sale (POS) systems with modern mPOS terminals. These terminals facilitate enhanced payment experiences through the utilization of NFC-enabled cards and applications, catering to the evolving consumer preferences for convenient and secure transactions. The market's upward trajectory is further buoyed by the escalating demand for streamlined and flexible payment solutions across various industries, including retail, hospitality, and e-commerce. As businesses seek to adapt to the changing landscape of payment methods and consumer behaviors, the mPOS terminals sector stands to benefit as a pivotal enabler of efficient and customer-centric transactions.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Electronic Equipment & Instruments by segment aggregation, the contribution of the Electronic Equipment & Instruments in Technology Hardware & Equipment and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Product ID: UCMIG45J2151