Skip to main content

mPOS Terminals Market Provides Detailed Insight by Trends, Challenges, Opportunities, and Competitive Analysis

The flourishing restaurant industry is also expected to drive the mPOS terminals market at a CAGR of 17.9% during the forecast period (2020–2030). According to P&S Intelligence, the market generated revenue of $19.5 billion in 2019. Restaurants are offering their staff handheld mPOS terminals to take orders at the table and offer a better experience to customers as they do not have to stand in long queues for placing their orders.

Additionally, the usage of such devices will aid the restaurants in expanding their customer base by serving more diners in a quick time. Nowadays, mPOS system providers are increasingly offering cloud-enabled solutions as they allow users to centralize all the data and securely access the data from any location. As compared to conventional terminals, cloud-based POS variants have very low operational costs attached to them, as they do not need on-site servers, which are very expensive.



Owing to the rising shift toward cloud-enabled mPOS terminals, companies such as Aures Technologies S.A., Posera Ltd., SZZT Electronics Shenzhen Co. Ltd., Bitel Co. Ltd., Toast Inc., BBPOS Ltd., Zebra Technologies Corporation, and Shenzhen Xinguodu Technology Co. Ltd. are focusing on manufacturing these advanced devices. In recent years, new and improved variants of mPOS terminals are available for the retail, hospitality, food service, healthcare, and sports and entertainment sectors.

For example, in June 2019, Volly launched a new mPOS app, which enables loan officers to invite borrowers to apply for new loans or receives prequalified loans at any time, from any location. Additionally, the app also enables borrowers to upload the required documents from their mobile phones, while applying for a loan, and allows loan officers to track the status of the deal.

Globally, Asia-Pacific (APAC) dominated the mPOS terminals market during the historical period (2014–2019), and it is expected to demonstrate the fastest growth during the forecast period. This can be attributed to the expansion of the retail, healthcare, and hospitality sectors in the region, primarily on account of the increasing urbanization rate in the region and rapid economic growth of the regional countries.

Moreover, the surging preference for contactless payments in the retail sector will also support market growth in the region. Thus, the rising focus of the retail sector on enhancing customer experience and expanding the restaurant industry will amplify the usage of mPOS terminals in the forthcoming years.

Labels

Labels:

Comments

Post a Comment

Popular posts from this blog

Increasing Internet Penetration Fueling Demand for Product Analytics

With the increasing penetration of the internet in both developing countries such as China and India and developed countries such as Singapore and the U.S., the worldwide demand for product analytics is rising rapidly. For example, according to the Office for National Statistics, in 2018, 90% of all households in Great Britain had access to the internet. Get the Sample Copy of this Report @ https://www.psmarketresearch.com/market-analysis/product-analytics-market/report-sample Additionally, the total percentage of adults who used the internet daily grew from 35% to 86% from 2006 to 2018 in the country. The rapid digital transformation in various countries is pushing up the requirement for product analytics solutions. Moreover, businesses all over the world are increasingly adopting advanced technologies such as product analytics for building a holistic understanding and delivering greater customer engagement. Apart from this, rapid advancements and innovations being made in various cog...
Post a Comment
Read more

Conversational AI Market Worldwide Opportunities, Driving Forces, COVID-19 Impact Analysis, Future Potential 2030

There are two ways in which conversational AI solutions are deployed, namely cloud and on-premises. Of these, the conversational AI solutions deployed through cloud recorded higher demand in 2018, and this deployment method is expected to remain more popular in the coming years. This is primarily attributed to the ballooning demand for scalability and easier maintenance features and 24*7 services offered by these solutions. Furthermore, many major companies are adopting cloud-based solutions for increasing their operational flexibility and reducing their operational costs. Coherent with these facts, the biggest phenomenon currently being observed in the conversational AI market is the mushrooming implementation of chatbots, as well as IVA, in various healthcare applications. Geographically, the highest demand for conversational AI market share has been witnessed in North America in the last few years, and the next few years will witness a similar situation. For instance, a Mahara...
Post a Comment
Read more

Huge Growth Expected in Japan Heat Stress Monitor Market in Future

In the last 100 years, the average annual temperature of Japan has risen by a whole degree (Celsius), says the World Wildlife Fund. Moreover, the number of hot days, when the maximum temperature is more than 35 °C, is higher now than before, while the cold has become less extreme. Even the instances and duration of snowfall and the extent of ice in the southern part of the Sea of Okhotsk are reducing.  With such rampant global warming, the Japanese population is suffering more than ever because it is simply not used to such hot conditions. Moreover, by 2050, the annual mean temperature in the country is set to rise by 3 °C and, further, by 5 °C by 2080. According to P&S Intelligence, due to such climate change, the Japanese heat stress monitor market , which valued $1.98 million in 2020, is expected to reach $3.96 million by 2030, at a 7.05% CAGR between 2021 and 2030.  This is because the changing weather conditions are leading to the rising number of heat stroke cases, ...
Post a Comment
Read more