Mobile point of sale is also often referred to as mPOS, and it is a tablet, smartphone, or similar wireless devices such as an iPod, that serves the function of a traditional cash register or POS system in brick and mortar businesses. Traditionally, cash rendered for goods and services were accepted and accounted for at the cash register and then tracked and reported on manually by bookkeepers. Modern retail and payments technology has completely shifted and optimised this process, saving time for business owners and providing flexibility. Mobile Point of Sale refers to both the physical (hardware) and intangible (software) features of these payment systems. The greater majority of mobile pos companies utilise tablets like the iPad because of its reliability and design.
Asia-Pacific Mobile Point of Sale (mPOS) Market Segments Size & Growth:
Asia-Pacific Mobile Point of Sale (mPOS) Market size is projected to reach approximately $XX billion by the end of 2024 with a CAGR of close to XX% from $XX billion in 2017 during the forecast timeline 2018-2024. Key parameters promoting the market growth include increasing the requirement for wearable and portable devices coupled with their integration in the sales channel, increasing in the quantity of NFC (Near field communication) supported the transaction and increasing adoption of an android point of sale devices and cloud-based devices, mPOS gives its users to offer loyalty options to their prospective customers, and technical Advancements in payment technologies coupled with the shift towards Euro pay/MasterCard/Visa chip card reimbursement. However, High maintenance cost is thereby hampering the market growth.
The use of a tablet or a smartphone allows retailers to support the Point of Sale capability at relatively less capital expenditure and realise an improved return on investments. Furthermore, mobile POS devices also support loyalty programs that are targeted
Rising need for numerous industrial applications such as entertainment, restaurants, healthcare, hospitality, retail, and warehouse is predicted to propel mPOS market demand. Hospitality and retail sectors are likely to experience potential growth prospects owing to growing usage of these products for making payments.
Asia-Pacific Mobile Point of Sale (mPOS) Market Segments Share:
Asia-Pacific Mobile Point of Sale (mPOS) Market is categorised into solution type which comprises integrated card reader solutions, and card reader accessories. Among them, card reader accessories segment holds the largest share in the market owing to the low cost of these accessories, which makes them affordable for small and medium-sized businesses (SMBs) and micro-merchants. By Technology, the market is segmented into hybrid technology solutions, EMV chip and pin, magnetic-stripe, chip and sign, near field communication (NFC), and biometrics. Among them, NFC, EMV chip and pin, and hybrid technology solutions are the most preferred technologies in this market at present. Over the coming years, these technologies will remain in high demand. By End User, the market is segmented into restaurants, hospitality, healthcare, retail, warehouse/distribution, entertainment, transportation, government, and consumer utility services.
By Geography, China is projected to dominate the market with the largest share during the forecast period due to a significant proliferation of cloud computing has influenced the European, augmenting focus of mPOS solution vendors on merchant-related services and the increasing trend of the internet of things (IoT) in this region.
Among various regional market for mPOS, China is projected to witness healthy growth in the years to come. While the presence of established players in a large number is boosting the market, the
Asia-Pacific Mobile Point of Sale (mPOS) Market Trends:
Asia-Pacific Mobile Point of Sale (mPOS) Market Research Report:
An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.
To have complete market analysis, industry value chain analysis, Porter’s Five Force Analysis, PESTLE, SWOT analysis, and Y-o-Y analysis were carried to understand the market more comprehensively.
Regional and global diversity is analysed with the major countries and the unions. Scrutinizing the revenue generation on Year-On-Year
Identifying DROC in the current market and their impact in altering the market dynamics.
Competitive landscape analysis to identify the mergers and acquisitions which will have a comparative financial analysis with major competitors.
Expertise investment opportunities by an analyst to the individual and organisation to have a better foothold in the market.
The major market players, such as
Along with these companies, there were many other companies considered/cited in the report while analysing the Asia-Pacific Mobile Point of Sale (mPOS) market. These companies hold substantial share-owning to the nature of the industry whereas rest of the market shares are marginal chunks to regional and local level manufacturers. Other players have considerable presence owing to its robust brand image, geographical reach and strong customer base.
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