The global mPoS terminals market on the basis of three criteria: product type, technology, and geography.
On the basis of product type, the market has been segmented into card readers and PoS terminals. Of these, the segment of PoS terminals will account for a larger share in the market throughout the report’s forecast period. The rapidly expanding global digital payments industry and the availability of unique products with advanced technological features, such as buying behavior reports, application program interface, and analytical data essential to run businesses, are also expected to fuel the overall growth prospects of the PoS terminals segment.
In terms of technology, the global mPoS terminals market has been segmented into Europay, MasterCard, and Visa (EMV) and non EMV. Chip-enabled cards help prevent the chances of card counterfeiting and lower down the chances of in-store frauds by requiring the generation of a one-time code for the approval of all transactions. The vast rise in penetration of card transactions in the hospitality and retail sectors will lead to the introduction of strict safety norms from government bodies, a trend expected to subsequently increase the demand for EMV PoS terminals in the next few years.
In terms of geography, the report includes the analytical overview of the mPoS terminals market across regions such as Americas, Asia Pacific, and Europe, Middle East and Africa. Of these, the market in APAC is expected to emerge as the leading contributor of revenue to the global market over the course of the report’s forecast. The vast expansion of the hospitality and organized retail industries and the rising preference of consumers towards cashless transactions will massively contribute to the overall development of the APAC mPoS terminals market over the forecast period. Market’s growth in APAC is also expected to be influenced by the rising demand from the unorganized retail industry in a number of developing countries and the rising purchasing power of the end-users.
The vendor landscape of the global mPoS terminals market is highly competitive and features a number of well-established companies catering to the vast demand for mPoS terminals across the globe. The level of competition is expected to significantly rise in the next few years owing to the rising numbers of solution providers and a substantial rise in mergers, acquisitions, and collaboration strategies. Some of the leading companies in the market are PAMPOS TERMINALS Technology, SZZT Electronics, Ingenico, Samsung, NEC and Verifone.