Mobile Point-Of-Sale Systems Market Statistics: 2027
A mobile point of scale is a smartphone dedicated wireless device, which performs functions of a cash register or electronic point of scale terminal wirelessly. Mobile point of scale can be attached in touch screen tablets, smartphone audio jacks, or charging ports.
Mobile points of scale system are dedicated to incorporated mobile equipment that works as electronic POS terminals. In addition, mobile point-of-sale systems are also used to utilize administers receive and send invoices, signature authentication, and dispatch digitizes notes.
COVID-19 scenario Analysis:
- The ongoing spread of COVID-19 has become one of the biggest threats to the global economy and financial markets. To contain the impact of the coronavirus outbreak, many countries across the globe are taking several measures, including nationwide lockdowns.
- This in turn has affected fast-growing digital payments, which are closely linked to the aforementioned sectors. Closed shops, travel bans, and reduced discretionary spends by consumers (on dining out, movies, and entertainment) are further negatively impacting digital payments.
- However, use of smartphone for mobile payments has gained traction across the globe due to the coronavirus (COVID19) outbreak. The general public continues to trust payments systems and providers, and no substantial outages of core infrastructure have been reported.
- With governments urging citizens to stay at home, there has been an explosion in the use of online shopping and delivery systems. Businesses such as PayPal, which is also one of the key players of this market, have seen huge spikes in demand.
- Hence, the global economy may look very different when it gets back to normal. The payments industry will have a key role to play in revamping the economy, thus creating huge opportunities for the mobile point of scale system market.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Various factors such as growth in awareness toward digitalized transaction, less time consumption, extra layer of security, rise in number of online payments, low installation cost, increase in ease of accessibility of device, cost-effectiveness, and compact and scalable solution for end users are some of the key drivers of this mobile point of scale system market. However, security of mobile payment data, cross-platform payment solutions with replacement of EMV migration are some of the challenges, which may hinder growth of the market. Emerging technologies, adoption of cloud, and adoption of digital payments are some of the sectors, which are expected to offer multiple opportunities for the mobile point of scale system market.
Growth in awareness toward digitalization:
Rise in the adoption of mobile technologies with presence of high-speed internet connectivity has certainly helped to increase usage of smartphones through which organizations and consumers are able to see numerous benefits offered by digitalization. In addition, mobile payment scale systems also supports multiple applications such as shopping assistance, inventory management, and improving retail productivity thus making ease for consumers, and hence growing adoption of digital payments.
Increase in government focus on digitalization:
Recently, governments have launched multiple schemes to promote digitalization for better financial inclusion. The lack of available cash has fueled the POS machines market demand as people are transitioning more and more on digital modes of payments for goods and services thus leading to increase in adoption of digitalization. However, presently there are fewer numbers of mobile point-of-scale machines in the supply to fulfill the mobile point of scale system market demand and this is why several players find this market attractive and thus expected to create huge opportunities for the market in the upcoming years.
Key benefits of the report:
- This study presents the analytical depiction of the global mobile point of scale system market industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of global mobile point of scale system market share.
- The current mobile point of scale system market is quantitatively analyzed to highlight the global mobile point of scale system market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the mobile point of scale system market.
- The report provides detailed mobile point of scale system market analysis based on competitive intensity and how the competition will take shape in coming years.
Mobile Point-Of-Sale Systems Market Report Highlights
By Industry Vertical
By Component Type
By Deployment Type
By Organizational Size
Key Market Players
Samsung Electronics Co. Ltd., PayPal Holdings Inc., Ingenico Group S.A., Verifone Systems Inc., Toshiba Tec Corp., Square Inc., Panasonic Corp., NCR Corp., PAX Technology Inc., First Data Corp.