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:

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

How Is Rising EV Sales Supplementing Electric Motor Market Growth?

In recent years, the companies operating in the electric motor market have engaged in product launches to consolidate their position. For instance, in February 2021, Johnson Electric Holdings Limited launched a new series of low-voltage DC motors for actuators used in hospital beds, smart recliners, height-adjustable desks, and other smart furniture.  In the same vein, in June 2021, maxon motor AG introduced BIKEDRIVE Air, a 3.5 kg e-bike system that consists of an integrated battery, a mid-mounted motor, and a control element. Additionally, the players in the electric motor market are also opting for mergers and acquisitions to gain a competitive edge. For example, in March 2021, AMETEK Inc. acquired Crank Software, EGS Automation, and Magnetrol International for $270 million.  With the acquisition of Magnetrol International and EGS Automation, AMETEK Inc. aims to expand its level measurement solutions portfolio and widen its automation solutions portfolio. Furthermore, the ...
Post a Comment
Read more

Increasing Prevalence of Road Accidents Fueling Demand for Tunnel Automation

As a result, the value of the market is predicted to grow significantly in the coming years. Depending on tunnel type, the market is divided into highway and roadway tunnels and railway tunnels categories. Between these two, the railway tunnels category dominated the market in 2020. This was because of the various benefits of integrating tunnel automation solutions in railway tunnels such as reduced security and safety threats and improved efficiency of various tunnel operations. Signalization, lighting and power supply, fire and safety, air conditioning, communication, and ventilation systems are some of the major elements of railway tunnel automation, that greatly improve tunnel functioning. The tunnel automation market is also categorized, based on component, into signalization, heating, ventilation, and air conditioning (HVAC), and lighting and power supply. Out of these, the HVAC category led the market in 2020, and it is predicted to exhibit the fastest growth in the coming years...
Post a Comment
Read more