Global Mobile POS Systems Market 2015-2019
A mobile POS refers to an electronic payment system that transfers funds using credit and debit cards at POS terminals located at retail outlets. Mobile POS systems are equipped with features such as Wi-Fi, RFID, VoIP, and smart card capabilities. These systems are highly versatile and are used primarily as data devices. In addition, they are used for sending digitized notes, checking prices, writing reports, sending and receiving invoices, capturing signatures, and managing assets at retail stores. The abovementioned functions can be used to exchange data within a store or other out-of-store locations through wireless applications. Mobile POS systems are also being used to send and receive faxes through emails (known as internet fax service). Mobile POS systems can also be coupled with Bluetooth-enabled printers to enable line busting for faster checkout during heavy traffic at retail stores. Thus, mobile POS systems help retailers to provide value-added services, with the requirements of speed and accessibility being accomplished.
Global Mobile POS Systems market to grow at a CAGR of 9.6 percent over the period 2014-2019.
The predominant factor driving the market growth is the increased penetration of mobile POS systems in the retail and hospitality sectors. The surge in need for mobility by the merchants in these sectors to ease the customer checkout process will tend to fuel the market growth during the forecast period.
“The increase in awareness about near-field communication technology among merchants has resulted in the growing adoption of POS terminals and fostered the growth of NFC-based payments,”.
“Besides providing easy and quick transactions, merchants can employ NFC for loyalty programs, marketing, and providing information about the products customers are likely to purchase.”
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Covered in this Report
This report covers the present scenario and the growth prospects of the Global Mobile POS Systems market for the period 2014-2019. The report covers the entire range of mobile POS systems used in the following end-user segments:
The report considers only the revenue generated from the shipments of mobile POS systems to these sectors. The report does not consider the revenue generated from the following:
Mobile computing devices such as smartphones and tablets used as POS systems by merchants
Service and maintenance of mobile POS systems
Licensing of enterprise resource planning tools
Sales of used POS terminals
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Key Market Drivers
Increased Need for Mobility by Merchants
Increased Footfall in Retail Outlets
Proliferation of Non-cash Payment Methods
Increased Adoption of EMV Cards
Need for Effective Information Management
Key Market Trends
Increase in Penetration of Mobile Computing Devices
Increase in Penetration of NFC Technology
Increased Awareness about Mobile Wallet
Stringent Regulations for Secure Payments
Key Market Vendors
Honeywell Scanning and Mobility
Motorola Solutions Inc.
Pax Technology Ltd.
VeriFone Systems Inc.
To define the market circumstances in the next 3-4 years, Our analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.