The report forecasts that the global mPoS terminals market to grow at a CAGR of 32.84% during the period 2017-2021.
Global mPoS Terminals Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion operating in this market. To calculate the market size, the report considers the revenue generated from the sales of mPoS terminals by vendors in the market.
According to the report, one of the major drivers for this market is ease of implementation. The mPoS terminal is easy to operate, provided the vendor adheres to the operating requirements of the terminal. It needs a handheld wireless device, which is preferably small and portable. The device used is mostly a smartphone that is combined with Bluetooth and swipe-and-chip-based payment devices along with a payment app, which must be mPoS enabled.
The latest trend gaining momentum in the market is adoption in contactless transactions. Contactless payment guarantees customers a quick, helpful, and secure approach to make payments, permitting sellers to enhance the in-store payment experience by diminishing the counter lines and offering a large group of loyalty opportunities. It also diminishes the use of cash essentially as found in various early adopting countries. The rising use of contactless installment has assisted contactless payment frameworks with gaining market footing.
Further, the report states that one of the major factors hindering the growth of this market is slow adoption rate. With the changing economic scenario, the complexity of business operations has increased. Hence, merchants are forced to adopt new technologies to remain competitive in the market. However, companies are delaying their purchase of mPoS terminals waiting for an all-in-one technology that best suits their requirements and business model.
- PAMPOS TERMINALS Technology
- SZZT Electronics
Other prominent vendors:
Key Topics Covered:
Part 01: Executive summary
Part 02: Scope of the report
Part 03: Research Methodology
Part 04: Introduction
Part 05: Market landscape
Part 06: Market segmentation by product
Part 07: Market segmentation by end-users
Part 08: Market segmentation by geography
Part 09: Market segmentation by technology
Part 10: Decision framework
Part 11: Drivers and challenges
Part 12: Market trends
Part 13: Vendor landscape
Part 14: Appendix
For more information about this report visit https://www.researchandmarkets.com/research/r2sw2l/global_mpos