Mobile POS Market is expected to Grow with a CAGR of 16.23% through 2029

Growing adoption of smartphones, increasing demand for seamless payment solutions, advancements in mobile technology, and the need for enhanced customer engagement & operational efficiency are expected to drive market growth

According to TechSci Research report, “Mobile POS Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2029F”, the Global Mobile POS Market was valued at USD 70.36 billion in 2023 and is expected to grow with a CAGR of 16.23% during the forecast period. 

The Mobile Point of Sale (mPOS) market is significantly driven by the surge in mobile commerce and digital transactions, a trend accelerated by the widespread adoption of smartphones and tablets. As consumers increasingly prefer the convenience and flexibility of digital transactions over traditional cash and card payments, businesses are compelled to adapt to these evolving payment preferences. The rise of e-commerce has also led to the integration of mobile payment solutions into retail operations, enabling businesses to offer seamless and efficient transactions both online and in-store. Mobile POS systems, which allow for payments to be processed through mobile devices, offer a significant advantage in this context by facilitating quick and secure transactions. They support various payment methods, including credit/debit cards, digital wallets, and contactless payments, aligning with consumer expectations for a diverse and convenient payment experience. Moreover, the growing trend of omni-channel retailing, where customers expect a unified shopping experience across multiple platforms, has further driven the adoption of mPOS solutions. Businesses that implement mPOS systems can enhance customer satisfaction, streamline checkout processes, and reduce wait times, ultimately improving operational efficiency and driving revenue growth. As digital transactions continue to gain traction, the demand for mobile POS systems that can support diverse payment methods and integrate seamlessly with existing retail infrastructure is expected to grow, driving market expansion.

Browse over XX Market data Figures spread through XX Pages and an in-depth TOC on the "Global Mobile POS Market.” 

Based on the End-User, Restaurants segment held the largest Market share in 2023. The Mobile POS (Point of Sale) market in the restaurant segment is driven by a confluence of factors that are transforming the dining experience and operational efficiency. As restaurants increasingly seek to enhance customer satisfaction and streamline operations, mobile POS systems offer a flexible, efficient solution. The demand for real-time, accurate transaction processing and inventory management is driving the adoption of mobile POS, allowing restaurant staff to process orders and payments directly at the table, reducing wait times and minimizing errors. The growing preference for personalized dining experiences also fuels this market, as mobile POS systems enable restaurants to offer tailored promotions, loyalty rewards, and upselling opportunities based on customer data and preferences. Additionally, the rise of contactless payments and the need for hygiene and safety measures, accelerated by the COVID-19 pandemic, has significantly boosted the appeal of mobile POS systems, which facilitate touch-free transactions and reduce physical contact. Technological advancements, such as cloud-based solutions and integration with other restaurant management software, further enhance the functionality and scalability of mobile POS systems, making them an attractive choice for both small eateries and large restaurant chains. The increasing focus on operational efficiency and data-driven decision-making also supports the growth of mobile POS, as these systems provide valuable insights into sales trends, inventory levels, and customer behavior, enabling restaurants to optimize their operations and strategy. Moreover, the growing trend towards digital transformation in the restaurant industry, coupled with the need to adapt to evolving consumer expectations and preferences, continues to drive the demand for mobile POS solutions, positioning them as a critical component in the modern restaurant ecosystem.

In terms of region, Asia-Pacific is the fastest growing region in Global Mobile POS Market. The Asia-Pacific region is experiencing remarkable growth in the Global Mobile POS Market, driven by a surge in digital payment adoption and an expanding retail sector. With a rapidly growing middle class and increasing smartphone penetration, consumers are embracing mobile payment solutions that offer convenience and speed. Countries like China and India are at the forefront, with innovative payment platforms and a strong push toward cashless transactions, significantly boosting the demand for mobile POS systems. The region's diverse industries, ranging from retail to hospitality, are leveraging mobile POS technology to enhance customer experiences and streamline operations. Businesses are recognizing the need for flexibility and efficiency, prompting the integration of mobile solutions that allow for seamless transactions in various settings, from bustling urban markets to remote areas. This adaptability not only improves service delivery but also helps businesses stay competitive in an increasingly digital economy. Government initiatives promoting digitalization and financial inclusion are further propelling market growth in Asia-Pacific. Various countries are implementing policies to encourage the use of electronic payment systems, reducing reliance on cash. This supportive regulatory environment, combined with the rise of e-commerce and mobile applications, positions the Asia-Pacific region as a key player in the global mobile POS landscape, attracting investments and fostering innovation in the sector.

Major companies operating in the Global Mobile POS Market are:

• Hewlett Packard Enterprise Company
• Cisco Systems Inc.
• Oracle Corporation
• Panasonic Corporation
• Toshiba Corporation
• VeriFone, Inc.
• NEC Corporation
• Samsung Electronics Co. Ltd.
• Fiserv, Inc.

Download Free Sample Report

Customers can also request 10% free customization in this report.

“The Global Mobile POS Market is expected to rise in the upcoming years and register a significant CAGR during the forecast period. Opportunities abound in integrating Mobile POS with cloud-based solutions for real-time data access and analytics, facilitating seamless transactions and inventory management. The rise in demand for contactless payments and customer engagement tools further drives market growth. The increasing trend of small and medium-sized enterprises (SMEs) adopting Mobile POS systems for their flexibility and cost-effectiveness presents significant growth prospects. The integration of advanced technologies such as AI and IoT also opens new avenues for innovation and market expansion. Therefore, the Market of Mobile POS is expected to boost in the upcoming years”, said Mr. Karan Chechi, Research Director of TechSci Research, a research-based global management consulting firm.

“Mobile POS Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented, By Component (Hardware, Software), By Enterprise Size (Large Enterprise, Small & Medium Enterprises (SMEs)), By End-User (Restaurants, Retail, Healthcare, Entertainment, Others), By Region & Competition, 2019-2029F”, has evaluated the future growth potential of Global Mobile POS Market and provides statistics & information on the Market size, structure, and future Market growth. The report intends to provide cutting-edge Market intelligence and help decision-makers make sound investment decisions., The report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Global Mobile POS Market.

Contact

Techsci Research LLC

420 Lexington Avenue,

Suite 300, New York,

United States- 10170                   

Tel: +13322586602

Email: [email protected]

Website: www.techsciresearch.com