The Asia Pacific Mobile POS Terminals Market would witness market growth of 10.5% CAGR during the forecast period (2022-2028).
POS terminals are known to smoothen the sales process by doing much more than simply processing payments. After accepting payments, POS terminals can offer customers the option of receiving a digital receipt (via text or email), a printed receipt, or no receipt. Terminals can also present pre-calculated tipping options that customers can opt for by selecting the option on the same-user user-friendly screen. Most POS terminals can also give tax calculations, refunds, and sales discounts while also allowing the user to set up recurring payments or make invoices.
Presently, many systems offer accompanying features to aid business operations that are managed through that same payment terminal. These include inventory management, marketing, employee scheduling, wages, etc. One may also be able to join other applications they use for their business with the mPOS system. Integrating different applications can turn the mPOS terminal into a hub for all business management requirements, from accounting to email review.
The restaurant business in India has been expanding at a significant rate in the last ten years. The rapid expansion of the vast middle class in India due to liberalization occurred concurrently with the rise of the restaurant business in India. The fast urbanization, the rising popularity of western lifestyles, and an increasing number of women entering the workforce with increasing disposable income. It became essential for an expanding number of young adults to eat out, and order takeouts as more people started to move away from their hometowns or to other towns and cities, which has aided the restaurant culture to grow. These factors are boosting the market's growth in the Asia Pacific region.
The China market dominated the Asia Pacific Mobile POS Terminals Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $4,306.5 million by 2028. The Japan market is estimated to grow a CAGR of 9.8% during (2022 - 2028). Additionally, The India market would experience a CAGR of 11.5% during (2022 - 2028).
Based on Component, the market is segmented into Hardware and Software. Based on Type, the market is segmented into Handheld Terminals, Smartphone & Others and Tablets. Based on Application, the market is segmented into Retail, Healthcare, Hospitality, Entertainment, Restaurant, Warehouse and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Mobile POS Terminals Market is Projected to reach USD 53.3 Billion by 2028, at a CAGR of 9.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Fiserv, Inc., Oracle Corporation, Panasonic Holdings Corporation, Samsung Electronics Co., Ltd., Hewlett Packard Enterprise Company (HP Development Company L.P.), NEC Corporation, VeriFone Holdings, Inc. (Francisco Partners), Zebra Technologies Corporation, and PAX Global Technology Limited.
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