Mpos Terminal Market Overview
The Mpos Terminal Market Size was estimated at 37.8 (USD Billion) in 2022.The Mpos Terminal Industry is expected to grow from 43.39(USD Billion) in 2023 to 150.0 (USD Billion) by 2032. The Mpos Terminal Market CAGR (growth rate) is expected to be around 14.78% during the forecast period (2024 - 2032).
Key Mpos Terminal Market Trends Highlighted
The Mobile Point-of-Sale (MPOS) Terminal Market is experiencing significant growth, driven by the increasing adoption of digital payments, the proliferation of smartphones, and the growing demand for mobile payment solutions in emerging markets. The transition to contactless payments due to the COVID-19 pandemic has further accelerated the adoption of MPOS terminals. Key market drivers include the need for convenient and secure payment options, the rise of e-commerce, and the expansion of the unbanked population.Notable trends in the MPOS terminal market include the integration of advanced technologies such as near-field communication (NFC), biometrics, and QR code scanning. Additionally, there is a growing demand for cloud-based MPOP solutions, which offer increased scalability, flexibility, and cost-effectiveness. Opportunities for growth lie in expanding into new regions, exploring strategic partnerships, and investing in innovative payment solutions that meet the evolving needs of consumers and businesses.
Fig 1: Mpos Terminal Market Overview
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Mpos Terminal Market Drivers
Growing Adoption of Contactless Payments
The increasing adoption of contactless payments is a major driver of the Mpos Terminal Market Industry. Contactless payments offer a convenient and secure way to make transactions, and they are becoming increasingly popular among consumers. This is especially true in developing countries, where there is a large population of unbanked or underbanked consumers. As more and more consumers adopt contactless payments, the demand for Mpos terminals will continue to increase.In addition to the convenience and security benefits, contactless payments are also faster than traditional card payments.This is because contactless payments do not require the consumer to insert their card into a terminal or enter a PIN. As a result, contactless payments can help to reduce checkout times and improve the overall customer experience.The growing adoption of contactless payments is being driven by a number of factors, including the increasing availability of contactless-enabled cards and terminals, the rising popularity of mobile payments, and the increasing awareness of the security benefits of contactless payments.
Expansion of E-commerce and M-commerce
Expansion of e-commerce and m-commerce is another major driver of the Mpos Terminal Market Industry. E-commerce and m-commerce are rapidly growing channels for consumers to purchase goods and services. This growth is being driven by the increasing popularity of smartphones and tablets, growing availability of high-speed internet connections, and the growing number of consumers who are comfortable shopping online. As e-commerce and m-commerce continue to grow, the demand for Mpos terminals will also increase.This is because Mpos terminals enable merchants to accept payments from consumers who are online shopping and shopping via mobile devices. Merchants who offer Mpos terminals are able to increase their sales through expanding their reach. The expansion of e-commerce and m-commerce has been driven by a number of factors, including, the increasing popularity of online market places, the increasing number of consumers that are comfortable shopping online, the increasing availability of affordable and reliable shipping options.
Government Initiatives to Promote Digital Payments
Government initiatives to promote digital payments are also driving the growth of the Mpos Terminal Market Industry. In many countries, governments are implementing policies and programs to encourage the adoption of digital payments. These initiatives include providing financial incentives to consumers and merchants who use digital payments, and investing in infrastructure to support digital payments.Government initiatives to promote digital payments are being driven by a number of factors, including the need to reduce the use of cash, the need to improve the efficiency of the payments system, and the need to reduce the cost of payments.By promoting digital payments, governments can help to achieve these goals and improve the overall economy.
Mpos Terminal Market Segment Insights
Mpos Terminal Market Technology Insights
The technology segment of the Mpos Terminal Market is segmented into Contactless Payment, Magnetic Stripe Reading, QR Code Scanning, and Near Field Communication . The contactless payment technology acquired the largest market share in 2023 and is anticipated to continue leading during the forecast period. The growth can be attributed to the adoption of convenient and secure contactless payment. The magnetic stripe reading technology is anticipated to register a constant growth rate from 2021 to 2023. The technology is available in the traditional POS systems and is believed to continue being dominant in some sectors such as retail and hospitality.QR code scanning technology is currently emerging in the market due to the increase smart mobile devices use and the preference for mobile payment recording significant growth in the market. NFC is also an emerging technology in the Mpos Terminal Market, and the NFC-enabled devices have been enhanced for secure and easy contactless payment.
Fig 2: Mpos Terminal Market Insights
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Mpos Terminal Market Form Factor Insights
Handheld POS terminals are expected to hold a dominant position in the Mpos Terminal Market market in the coming years. The Mpos Terminal Market for handheld POS terminals was valued at USD 16.8 billion in 2023 and is projected to reach USD 35.2 billion by 2032, exhibiting a CAGR of 9.2% during the forecast period. The growth of the handheld POS terminal segment can be attributed to its portability and versatility, making it suitable for various business environments, including retail stores, restaurants, and mobile businesses. Countertop POS terminals are another significant segment in the Mpos Terminal Market market.The Mpos Terminal Market for countertop POS terminals was valued at USD 12.1 billion in 2023 and is projected to reach USD 24.5 billion by 2032, exhibiting a CAGR of 9.5% during the forecast period. Countertop POS terminals offer a stable and secure payment solution for businesses that require a fixed checkout counter, such as supermarkets, department stores, and hotels. Integrated POS terminals, which are embedded into other devices such as smartphones and tablets, are gaining popularity in the Mpos Terminal Market market. The Mpos Terminal Market for integrated POS terminals was valued at USD 6.9 billion in 2023 and is projected to reach USD 17.2 billion by 2032, exhibiting a CAGR of 11.2% during the forecast period.Integrated POS terminals provide a convenient and cost-effective payment solution for businesses that want to streamline their checkout process and reduce hardware costs.
Mpos Terminal Market Operating System Insights
The Operating System segment plays a pivotal role in shaping the Mpos Terminal Market landscape. Android holds a dominant position in the market with a substantial revenue share, owing to its widespread adoption across various smartphone manufacturers. iOS captures a notable market share, primarily driven by Apple's strong brand presence and loyal customer base. Linux and Windows Embedded account for a smaller yet significant portion of the market, catering to specific industry verticals and niche applications. This growth will be fueled by the rising demand for convenient, secure, and cost-effective payment solutions across various industries.
Mpos Terminal Market Application Insights
The application segment of the Mpos Terminal Market is highly diverse, with various industries utilizing Mpos terminals for efficient payment processing. Retail emerges as the dominant segment, accounting for a significant share of the market. The retail sector heavily relies on Mpos terminals to facilitate seamless transactions at physical stores, enabling customers to make purchases conveniently. In 2023, the retail segment held a substantial market share of around 45%, and it is projected to maintain its dominance throughout the forecast period.The hospitality industry is another key segment, leveraging Mpos terminals to enhance guest experiences. Restaurants, hotels, and other hospitality businesses utilize Mpos terminals for tableside ordering, mobile payments, and faster checkout processes. The hospitality segment is expected to grow significantly, capturing a notable market share in the coming years. The healthcare segment also presents substantial growth opportunities. Mpos terminals are increasingly adopted in hospitals, clinics, and pharmacies to streamline payment processes, reduce queues, and improve patient satisfaction.The healthcare segment is anticipated to witness steady growth, contributing to the overall expansion of the Mpos Terminal Market. Transportation is another emerging segment, with Mpos terminals finding application in taxis, buses, and trains. These terminals allow for convenient fare payments, enabling passengers to pay seamlessly during their journeys. The transportation segment is projected to expand at a steady pace, driven by the increasing adoption of cashless payment methods in public transportation systems. Government institutions are also embracing Mpos terminals to enhance citizen services.By deploying Mpos terminals, government agencies can offer convenient payment options for various services, such as utility bill payments, license renewals, and tax collection. The government segment is anticipated to contribute to the overall market growth, albeit at a moderate pace.
Mpos Terminal Market Connectivity Insights
The Mpos Terminal Market is segmented based on Connectivity into Bluetooth, Wi-Fi, Cellular, and Ethernet. The Bluetooth segment is expected to experience significant growth in the coming years due to its low cost and ease of use. The Wi-Fi segment is also expected to grow at a steady pace due to its wide availability and high speed. The Cellular segment is expected to grow at a moderate pace due to its high cost and limited availability. The Ethernet segment is expected to grow at a slow pace due to its limited mobility. In 2023, the Bluetooth segment accounted for the largest share of the Mpos Terminal Market revenue, followed by the Wi-Fi segment.The Cellular segment and the Ethernet segment accounted for a smaller share of the market. The Bluetooth segment is expected to maintain its dominance in the coming years due to its low cost and ease of use. The Wi-Fi segment is also expected to grow at a steady pace due to its wide availability and high speed. The Cellular segment is expected to grow at a moderate pace due to its high cost and limited availability. The Ethernet segment is expected to grow at a slow pace due to its limited mobility.
Mpos Terminal Market Regional Insights
The regional segmentation of the Mpos Terminal Market offers valuable insights into market dynamics and growth prospects. North America holds a significant market share, driven by the presence of well-established players and the early adoption of advanced Mpos solutions. Europe follows closely, with a strong demand for Mpos terminals in the retail and hospitality sectors. The APAC region is expected to witness substantial growth in the coming years, owing to the increasing penetration of smartphones and mobile payments. South America and MEA regions are also poised for growth, with expanding economies and growing consumer adoption of digital payments.By 2024, the Mpos Terminal Market is projected to reach a valuation of 53.16 Billion USD, showcasing the immense potential and opportunities across different regions. These insights are crucial for businesses operating in the Mpos Terminal industry, enabling them to tailor their strategies and target specific regional markets for growth and profitability.
Fig 3: Mpos Terminal Market Regional Insights
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Mpos Terminal Market Key Players And Competitive Insights
Major players in Mpos Terminal Market industry are focusing on expanding their presence and product portfolio to cater to the growing demand. Leading Mpos Terminal Market players are investing heavily in research and development to introduce innovative solutions that meet the evolving needs of customers. The competitive landscape of Mpos Terminal Market is characterized by strategic partnerships and collaborations among market participants to gain market share and strengthen their position.Verifone One of the prominent players in the Mpos Terminal Market industry, Verifone, holds a considerable market share. The company has established a strong presence in various regions and offers a comprehensive range of Mpos terminals. Verifone focuses on continuous innovation and customer satisfaction, delivering secure and efficient payment solutions to meet the diverse needs of businesses. Its extensive product portfolio includes mobile point-of-sale (mPOS) devices, countertop solutions, and integrated payment platforms. Verifone's reach and commitment to providing customized solutions have contributed to its leading position in the market.IngenicoAnother leading player in the Mpos Terminal Market is Ingenico, recognized for its advanced payment technologies and footprint. The company provides a wide range of Mpos terminals designed for various business segments, including retail, hospitality, and healthcare. Ingenico emphasizes security and reliability, offering end-to-end payment solutions that meet the evolving regulatory requirements and protect sensitive financial data. Its focus on innovation has led to the development of contactless payment options, mobile wallets, and online payment gateways. Ingenico's commitment to customer service and its network of partners have contributed to its position as a top player in the Mpos Terminal Market.
Key Companies in the Mpos Terminal Market Include
-
Verifone
-
First Data Corporation
-
Nexgo
-
Castles Technology Co., Ltd.
-
Square, Inc.
-
Pax
-
PayPal Holdings, Inc.
-
Hypercom Corporation
-
Equinox Payments
-
Worldline
-
Mercury Payment Systems, LLC
-
Ingenico
-
Newland Payment Technology Co., Ltd.
-
Payments Inc.
Mpos Terminal Market Industry Developments
The MPOS terminal market is projected to reach USD 150.0 billion by 2032, exhibiting a CAGR of 14.78% from 2024 to 2032. The growth is attributed to the increasing adoption of mobile payments, the rising popularity of e-commerce, and the growing need for secure and convenient payment solutions. NFC technology is expected to gain traction in the coming years due to its convenience and security features. Key players in the market include Verifone, Ingenico, and PAX Technology. Recent developments include the launch of new MPOS terminals with enhanced features and the integration of biometric authentication for added security. The market is expected to face challenges such as data security concerns and competition from alternative payment methods.
Mpos Terminal Market Segmentation Insights
Mpos Terminal Market Technology Outlook
Mpos Terminal Market Form Factor Outlook
Mpos Terminal Market Operating System Outlook
-
Android
-
iOS
-
Linux
-
Windows Embedded
Mpos Terminal Market Application Outlook
-
Retail
-
Hospitality
-
Healthcare
-
Transportation
-
Government
Mpos Terminal Market Connectivity Outlook
-
Bluetooth
-
Wi-Fi
-
Cellular
-
Ethernet
Mpos Terminal Market Regional Outlook
-
North America
-
Europe
-
South America
-
Asia Pacific
-
Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
37.8(USD Billion) |
| Market Size 2023 |
43.39(USD Billion) |
| Market Size 2032 |
150.0(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
14.78% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Verifone, First Data Corporation, Nexgo, Castles Technology Co., Ltd., Square, Inc., Pax, PayPal Holdings, Inc., Hypercom Corporation, Equinox Payments, Worldline, Mercury Payment Systems, LLC, Ingenico, Newland Payment Technology Co., Ltd., Payments Inc. |
| Segments Covered |
Technology, Form Factor, Operating System, Application, Connectivity, Regional |
| Key Market Opportunities |
1 Mobile commerce growth2 Rising demand for contactless payments3 Integration with cloudbased solutions4 Expansion into emerging markets5 Advancements in security technologies |
| Key Market Dynamics |
Growing demand for mobile payments Technological advancements Adoption of EMV standards Increasing use of contactless payments Expanding ecommerce sector |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Mpos Terminal Market is projected to reach a valuation of approximately USD 150.0 billion by the end of 2032.
The Mpos Terminal Market is expected to grow at a CAGR of approximately 14.78% during the forecast period from 2023 to 2032.
The Asia-Pacific region is expected to account for the largest market share in the Mpos Terminal Market by 2032.
The growth of the Mpos Terminal Market is primarily attributed to the increasing adoption of mobile payments and the rising demand for convenient and secure payment options.
The retail industry is expected to be a major contributor to the revenue generation of the Mpos Terminal Market.
Some of the key players in the Mpos Terminal Market include Verifone, Ingenico, PAX Technology, and Newland.
The Mpos Terminal Market is estimated to be valued at around USD 43.39 billion in the year 2023.
The mobile payment segment is expected to account for the largest market share in the Mpos Terminal Market.
The increasing adoption of contactless payments and the growing popularity of mobile wallets are among the key trends driving the growth of the Mpos Terminal Market.
The Asia-Pacific region is anticipated to experience the highest growth rate in the Mpos Terminal Market over the forecast period.
