LONDON, Dec. 3, 2015 /PRNewswire/ -- Market outlook of the mPOS market
Technavios market research analyst predicts the global mPOS market to grow tremendously at a CAGR of 50% during the forecast period. The growing demand for mobile payments is the primary growth driver for this market. The increasing mobile internet penetration enables the users to quickly process mPOS and close the sales process. Moreover, the rising adoption of tablets and smartphones across the globe allows the retailers and merchants to integrate mPOS into their payment process.
The growing usage of cloud-based solutions is expected to fuel the mPOS market during the forecast period. These solutions enable merchants to access customer information and product data across multiple platforms. A large amount of data would require highly compatible mPOS that will capture information such as payment preferences, and buying behavior to fuel the market. mPOS would also enable merchants to store a large amount of data that can be accessed from anywhere across the globe by authorized personnel.
Geographical segmentation and analysis of the mPOS market
Americas
APAC
EMEA
The retail sector is the prominent revenue contributor in the Americas. The concentration of retail outlets in the Americas is very high resulting in the growing market for mPOS. The mPOS market in Americas is expected to grow at a CAGR of 51% during the forecast period 2016-2020.
Competitive landscape and key vendors
The mPOS market is led by selective players and growing number of mergers and acquisitions. The competition in the mPOS market is expected to intensify due to the increasing number of solution providers and acquisitions of SMEs, by the large players. The report anticipates large retailers to integrate mPOS into their businesses during the forecast period.
The leading vendors in the market are-
Ingenico
PAX
Toshiba TEC
VeriFone Systems
The other prominent vendors in the market include NEC and Samsung.
Key questions answered in the report include
What will the market size and the growth rate be in 2020
What are the key factors driving the global mPOS market
What are the key market trends impacting the growth of the global mPOS market
What are the challenges to market growth
Who are the key vendors in this market space
What are the market opportunities and threats faced by the vendors in the global mPOS market
Trending factors influencing the market shares of the Americas, EMEA, and APAC
What are the key outcomes of the five forces analysis of the global mPOS market
Technavio also offers customization on reports based on specific client requirement.
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