Mobile POS Terminals Market Future Growth Statistic, Trends Analysis and Challenges

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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).

The surging focus of the retail sector on improving customer experience is resulting in the large-scale installation of mobile point-of-sale (mPOS) terminals at the outlets of retail chains and independent stores. These outlets are adopting mPOS terminals to preserve the time of customers which is wasted while standing in long check-out queues. Deployment of these devices enables customers to complete the purchase directly from the main product area in a store, by avoiding long queues and paying for the goods digitally.

These advantages result in increased customer satisfaction, which further helps in building brand loyalty and trust. Moreover, 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 PS Intelligence, the market generated revenue of $19.5 billion in 2019. 

 

 

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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.

This market research report provides a comprehensive overview of the market
  • Future potential of the market through its forecast for the period 2020– 2030
  • Major factors driving the market and their impact during the short, medium, and long terms
  • Market restraints and their impact during the short, medium, and long terms
  • Recent trends and evolving opportunities for the market participants
  • Historical and the present size of the market segments and understand their comparative future potential
  • Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
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