According to a new report, published by KBV research, The Global Mobile POS Terminals Market size is expected to reach $53.3 billion by 2028, rising at a market growth of 9.8% CAGR during the forecast period.
The Software segment is showcasing a CAGR of 10.4% during (2022 - 2028). The growth is attributed to its application in operating functions like billing, inventory, and collecting information for handling a restaurant, healthcare industry, or retail store. Many providers also offer analytics tools that identify file I/O usage, network traffic, PLU response times, and bottlenecks in the system to enhance system performance.
The Handheld Terminals, Smartphone & Others segment acquired maximum revenue share in the Global Mobile POS Terminals Market by Type in 2021 thereby, achieving a market value of $38.6 billion by 2028. The growth is attributed to the enhanced features, which decrease the risk of data breaches. This type of mPOS enables all online payment options to come in a single application, including debit/ credit cards, UPI, and digital wallets. Also, they make the utilization of mobile POS more efficient and effective. These features will aid the segment in growth during the forecasted period.
The Healthcare segment has shown the growth rate of 10.2% during (2022 - 2028). This is due to the rapid deployment of mobile point-of-sale terminals to smoothen the payment process for medications and treatments provided by clinics and hospitals. With the digitalization of healthcare facilities, operators are encouraged to integrate such payment terminals. The digitalization of the healthcare sector is supporting the utilization of mobile POS terminals to ease up payment and is anticipated to surge the segment’s expansion.
The North America market dominated the Global Mobile POS Terminals Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $18.6 billion by 2028. The Europe market is exhibiting a CAGR of 9.4% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 10.5% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/mobile-pos-terminals-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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