The North America Mobile POS Terminals Market would witness market growth of 9.1% CAGR during the forecast period (2022-2028).
An mPOS system, compared to the traditional point-of-sale (POS), is lightweight and convenient for both the merchant and the user while also being portable. Mobile POS works best when regularly updated with security guidelines, making them more secure than traditional POS options. Also, a smartphone can be a great alternative mobile POS solution to replace the traditional POS terminal. Utilizing phones as an mPOS is as secure and fast for processing customer transactions as any other mobile device.
It also aids in decreasing the costs related to expensive POS terminals and hardware while adopting mobile payments for the user’s business. Before buying an mPOS system, there are a few factors which are needed to be looked into. For instance, features, as many of the mPOS only offer a limited set of POS features, it is advisable to double-check the significant functionality available with the system. As the absence of some features may cause failed or delayed transactions.
There were over 27 million e-commerce users in Canada, which accounted for 75% of the Canadian population. This number is anticipated to grow to 77.6% in 2025. The increase in online shoppers will aid the retail e-commerce sales in Canada to see a constant rise. According to Statistics Canada, e-commerce retail trade sales were around $3.82 billion in December 2020. Retailers in digital platforms make significant investments to reach consumers across the nation and counter the competition to other multinational websites. Due to these aspects, the regional Mobile POS Terminals Market is expanding.
The US market dominated the North America Mobile POS Terminals Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $13,450.4 million by 2028. The Canada market is poised to grow at a CAGR of 11.6% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 10.6% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Mobile POS Terminals Market is Estimated to reach $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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