Mobile POS Terminals Market to Take-off in the Coming Years

According to a new market report published by Credence Research, “Point of Sale (POS) Terminals Market (Restaurants, Hospitality, Healthcare, Retail, Warehousing/Distribution, Entertainment, and Other End-use (Field Services, Government, Transportation, etc.) – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 – 2022”, the demand for mobile POS terminals is poised to witness upsurge, providing the necessary traction to the overall Point of Sale (POS) terminals market growth.

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With the advancements in wireless technology, the market for mobile POS terminals has witnessed healthy growth in the recent years. Superior benefits offered including mobility, low upfront cost, easy usage, and favorable return on investment have collectively ensured r growing adoption of mobile POS terminals across multiple end-use verticals. The research study explains that the penetration/adoption rate of mobile POS terminals is extremely high among retailers, especially small and medium business retailers owing to its low upfront and installation cost. Thus, for small and medium-sized businesses using a tablet or a smartphone is a way to support the POS capability at comparatively less capital expenditure than a traditional fixed solution. The ability of mobile POS terminals to support loyalty programs that are more focused on customer retention is also cited as a major reason behind the growing adoption rate of mobile POS terminals among SMB (Small and Medium-sized Business) retailers. These solutions help businesses to quickly identify loyal customers (via their payment information), thereby offering coupons and other perks to ensure enhanced customer experience.

Furthermore, growing popularity and adoption of smartphones, tablets, and other wearable and mobile devices has made mobile POS terminals an attractive complementary solution to the traditional POS terminal solutions. Smartphones supporting advanced contactless payment technologies such as Near Field Communication (NFC) have ensured secured digital wallet payments, stimulating the demand for mobile POS terminals. Mobile POS solutions based on non-rugged handheld devices such as tablets are also expected to witness healthy growth in restaurants and hospitality establishments over the next two to three years. The majority of the demand is expected to come from the replacement of older mobile devices.

Thus, favorable future outlook for mobile POS terminal means that the number of vendors offering mobile POS terminals and compatible software solutions would swell, further intensifying the market competition over the forecast period 2015 – 2022.