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mPOS or mobile point of sale is the ability for a customer transaction to be carried by a portable mobile device instead of by a traditional checkout register. The fixed point of sales devices could be seen in restaurants and almost all the retail stores. POS is usually referred to the stage when money is given in exchange for goods. The need for mPOS is to overcome the shortcomings of the fixed POS system and also to bridge the gap between POS systems and e-commerce businesses. Using a mobile or a similar device as an alternate POS requires less up-front investment and they are far more affordable to repair or replace than traditional POS systems.
South America Mobile Point of Sale (mPOS) Market Segments Size & Growth:
South America 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
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.
South America Mobile Point of Sale (mPOS) Market Segments Share:
South America 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, Brazil 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 market, 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, Brazil and Argentina are projected to witness healthy growth in the years to come. While
South America Mobile Point of Sale (mPOS) Market Trends:
South America 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 South America 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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