Global mPOS Market 2016-2020
Market outlook of the mPOS market
Technavios market research analyst predicts the global mPOS market to grow tremendously at a CAGR of 50% during the forecast period. The growing demand for mobile payments is the primary growth driver for this market. The increasing mobile internet penetration enables the users to quickly process mPOS and close the sales process. Moreover, the rising adoption of tablets and smartphones across the globe allows the retailers and merchants to integrate mPOS into their payment process.
The growing usage of cloud-based solutions is expected to fuel the mPOS market during the forecast period. These solutions enable merchants to access customer information and product data across multiple platforms. A large amount of data would require highly compatible mPOS that will capture information such as payment preferences, and buying behavior to fuel the market. mPOS would also enable merchants to store a large amount of data that can be accessed from anywhere across the globe by authorized personnel.
Geographical segmentation and analysis of the mPOS market
The retail sector is the prominent revenue contributor in the Americas. The concentration of retail outlets in the Americas is very high resulting in the growing market for mPOS. The mPOS market in Americas is expected to grow at a CAGR of 51% during the forecast period 2016-2020.
Competitive landscape and key vendors
The mPOS market is led by selective players and growing number of mergers and acquisitions. The competition in the mPOS market is expected to intensify due to the increasing number of solution providers and acquisitions of SMEs, by the large players. The report anticipates large retailers to integrate mPOS into their businesses during the forecast period.
The leading vendors in the market are -
The other prominent vendors in the market include NEC and Samsung.
Key questions answered in the report include
What will the market size and the growth rate be in 2020
What are the key factors driving the global mPOS market
What are the key market trends impacting the growth of the global mPOS market
What are the challenges to market growth
Who are the key vendors in this market space
What are the market opportunities and threats faced by the vendors in the global mPOS market
Trending factors influencing the market shares of the Americas, EMEA, and APAC
What are the key outcomes of the five forces analysis of the global mPOS market
Technavio also offers customization on reports based on specific client requirement.
Technavio Announces the Publication of its Research Report Global mPOS Market 2016-2020
Technavio recognizes the following companies as the key players in the Global mPOS Market: Ingenico, PAX, Toshiba TEC and VeriFone Systems
Other Prominent Vendors in the market are: NEC and Samsung.
Commenting on the report, an analyst from Technavios team said: SMBs were the early adopters of mPOS technology. However, limited selling and low transaction volume of SMBs is making it difficult for mPOS vendors to sustain themselves in the market. Therefore, these vendors are attracting large enterprises with products and pricing strategies to drive more payment volume and extract higher revenues. This is a prevailing trend in in the market and is expected to continue during the forecast period.
According to the report, merchants prefer mPOS that offer a personalized and interactive experience to the consumers. The ability of mPOS to accept card payments regardless of location or sales point has captured the interest of businesses. SMBs, that did not have the necessary hardware to accept card payments, are increasingly adopting mPOS at a large scale.
Further, the report states that the e-commerce market has registered strong organic growth in recent years. Major e-retailers such as Amazon, Alibaba, and eBay do not require terminals such as mPOS for billing and customer data gathering as they have their own payment gateways that enable the customers to make payments directly. Many new market entrants are adopting this model, and it will likely hinder the sales and growth for mPOS.
Ingenico, PAX, Toshiba TEC, VeriFone Systems, NEC, Samsung.