2014-02-24 20:54:03 - 2020 Foresight Report: Mobile Point of Sale Technology - a new market research report on companiesandmarkets.com
During 2011-2012, the global MPOS market (mobile point of sale) registered significant growth in terms of the volume of terminals in operation, registering an annual growth of 111%. Driven by the high adoption in emerging markets, the industry is further expected to expand at a CAGR of 42.7% over the next four years.
MPOS technology is spreading at a very fast pace across the key economic regions of the globe, including developed and emerging markets with a number of startup organizations as well as established players in the payment industry who have chosen to venture into this sector.
Countries like the US, Canada, the UK, Germany, Japan and Australia are current hotspots for MPOS technology due to high investment as well as
favourable market drivers such as rising card penetration, smart-phone and internet users. The adoption of this technology in emerging economies such as India, China, Brazil and Russia is also beginning to catch up. They are fast becoming key areas of future investment due to a combination of the positive macroeconomic factors and the favourable demographics.
Recent technological innovations have allowed turning smart-phones and tablets, which run on platforms such as Apples iOS, Blackberry and Android, to be used as MPOS systems. Many providers of MPOS solutions provide dongles, which can be attached to a smart-phone through the headphone jack, a USB port or a proprietary connector, capable of reading card information.
The global MPOS industry registered significant growth in terms of the volume of terminals in operation during 2011â2012. Competitors such as Square, iZettle, mPowa, SumUp, VeriFone, Intuit and PayPal are aiding the growth of MPOS technology by making it accessible to smaller enterprises. Over the forecast period, the volume of terminals is expected to increase, driven by growth in the retail sector, increased online trade, a rise in smartphone usage and card penetration.
â¢ Technology has revolutionized the way business is conducted and payment mechanisms have undergone a series of developments. Time is a critical factor for consumers and merchants, it is therefore essential that efficient payment solutions are developed. It is due to this that MPOS devices have been developed.
â¢ MPOS solutions have high adoption levels in more developed economies such as the UK, France and Germany with firms such as VeriFone, Square, Intuit, iZettle, PayPal and Motorola leading the charge. Countries in the Asia-Pacific region such as India, China, Malaysia, Singapore, and Hong Kong are now emerging as new destinations for investment in this technology.
â¢ Technological innovations have allowed turning smartphones and tablets, running on platforms such as Apples iOS, Blackberry and Android to be used as MPOS systems. Many MPOS solution providers provide dongles capable of reading card information which can be attached to a smartphone through the headphone jack, a USB port or a proprietary connector.
â¢ The market size of MPOS technology is growing at a fast pace. The key growth drivers are expected to comprise MPOS-enabled smartphones, investment in MPOS technology in the emerging economies of Asian and Africa, the large-scale adoption of MPOS technology by small enterprises and the clearance of regulatory hurdles.
â¢ The retail sector is considered the main area of adoption for MPOS services due to the volume of transactions. Even though the sectors growth rate has been volatile due to the economic crises, the size of the sector has continued to expand.
â¢ This report provides a comprehensive analysis of mobile point of sale technology along with key drivers and challenges
â¢ It provides current and future market size forecasts for MPOS adoption and its share of total POS systems globally
â¢ Highlights regions with relatively high adoption levels and potential hotspots for investment in this technology
â¢ Details key business strategies adopted by MPOS solution providers to expand their operations
â¢ Illustrates implications of its adoption through the help of detailed case studies
â¢ Provides best practices for MPOS solution providers and merchants for smooth adoption of MPOS terminals
â¢ Gives insight into key players in the industry and their marketing strategies
Reasons to Buy
â¢ Make business decisions using current market size data and forecasts related to MPOS adoption in various industries and different regions around the globe
â¢ Understand the key drivers of MPOS technology and the challenges and limitations faced by it
â¢ Assessment of the benefits that result from its adoption in various business sectors
â¢ Gain insight into key business strategies being adopted by competitors
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