Mobile POS Terminal Market By Solution, Deployment, Application and Region-Forecast 2024

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mPOS Terminal Market unit shipment to grow at
over 18 CAGR from 2018 to 2024 Global Market
Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from Mobile POS Terminals Market

• (mPOS) Mobile POS Terminals Market size is set to
  exceed USD 55 billion by 2024 according to a new
  research report by Global Market Insights, Inc.
  The global shipments are forecast to surpass 35
  million units by 2024.The ubiquitous acceptance
  of EMV card standards across developed regions
  including UK and the U.S. are the major mPOS
  terminal market growth drivers.
• Initially viewed as a generic payment processing
  option, these are now devices that can offer
  sophisticated analytics with superior processing
  capability, wireless communication support, and
  store management functionalities such as
  inventory or customer behavior tracking.
• The proliferation of smartphones and tablets and
  the rising trend of mobile wallet technology have
  led to the conversion of consumer electronics
  into checkout terminals this trend is expected
  to favorably drive mPOS terminals market growth.

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Continued...

• The growing sales transaction through the
  card-based mode of payment is expected to fuel
  the mPOS terminal market growth. Industry players
  are investing in the development of advanced
  software solutions for data analytics, multiple
  platform support, and tracking of customer data.
  In addition, companies have been focusing on
  creating revenue channels by providing
  accessories such as card readers and dongles for
  card swipe, mobile printers, and peripheral
  devices. Ubiquitous internet connectivity and
  penetration of contactless NFC-based payment
  methods have further accelerated the upgrade of
  traditional registers resulting in the growth of
  the mPOS terminal market.
• Mobile apps offer additional revenue growth
  opportunities for market players targeting SMBs,
  micro-merchants, and small retailers. The
  benefits of mPOS terminals including reduced wait
  times for customers, enhanced security features,
  paper-free receipting services, and free floor
  space, which have enabled the adoption and growth
  of the market. Furthermore, the integration of
  new technology solutions, such as biometric
  identification, RFID (Radio Frequency
  Identification), and VoIP (Voice Internet
  Protocol), alleviates the security and
  performance of mPOS devices thereby stimulating
  the growth of the global mPOS terminal market.

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Germany mobile POS terminals market size, by
application, 2017 2024 (Thousand Units)

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POS Terminals Market _at_ https//bit.ly/1UidN22
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Continued...

• The surge in volume of card transactions is
  expected to favorably impact mPOS terminal market
  growth. The decline in the average selling price
  of tablet devices over the past few years has
  resulted in a sharp growth across regions
  including China, India, Brazil, and Mexico.
• Tablets/smartphones can also be converted into
  payment terminals through mobile apps and the use
  of sleeves or dongles for card swipe. The need
  for efficient line-busting schemes has escalated
  the demand for faster, more effective, and
  scalable checkout solutions leading to increased
  adoption of the devices across industry
  verticals.
• Government efforts to accelerate and promote
  cashless transactions through digital payments
  serve as a key driving factor for mPOS terminal
  market growth. For instance, in 2016, the
  demonetization in India resulted in the
  conversion of payment modes from cash-based
  payments into card transactions.

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Industry Coverage

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Continued...

• In addition, the universal acceptance and
  transition toward EMV (MasterCard, Visa, EuroPay)
  chip card aids in improving the reliability and
  security of a cashless transaction. A Federal
  Reserve study across the U.S. estimated that over
  USD 178 trillion non-cash payments were made in
  the country in 2015. The rise in the number of
  cashless transactions is expected to serve as a
  key driving force for the global mPOS terminals
  market.
• The rising transition toward the use of tablets
  and other consumer-grade devices for managing
  payment processing needs will drive the mPOS
  software market. The increased penetration of
  Near-Field Communication (NFC) and contactless
  payment and the standardization of the EMV
  technology are expected to facilitate the mPOS
  terminal market growth.
• Various mobile wallet channels and online portals
  have created additional revenue growth
  opportunities for market players as they offer
  ease-of-use and convenience for customers. Data
  security concerns regarding wireless technology
  devices and a rise in cybercrimes are among a few
  growth restraints.

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