Delaware, June 07, 2016 (GLOBE NEWSWIRE) -- (mPOS) Mobile POS Terminals Market size is forecast to hit USD 48.77 billion by 2023; as per a new research report by Global Market Insights, Inc.
Escalating demand for economical wireless communication technologies is predicted to propel global mobile POS terminals market growth from 2016 to 2023.
Rising need from numerous industry applications such as entertainment, restaurants, healthcare, hospitality, retail and warehouse is predicted to fuel mPOS terminals market demand. Hospitality and retail sectors are likely to experience potential growth prospects owing to growing usage of these products for making payments. It also aids in improving customer experience by eliminating delays in payment processing caused due to long queues.
The technology involves the use of wireless devices in order to execute payments for products and services. Wireless technology aids in streamlining numerous processes ranging from renting a cab to buying food items. This enables cost reduction per transaction, especially in high telecommunication costs regions owing to usage of technologies such as GPRS, 802.11, Wi-Fi, and CDMA.
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Global acceptance accompanied by high software compatibility offered by these systems is likely to provide businesses with convenience of portable sales. Furthermore, along with cost optimization, wireless communication system is likely to enhance the efficiency of individual workers and also eliminate delay involved during sales or service.
Lack of awareness regarding need, scope and the benefits offered by PCI Data Security Standards (DSS) may result in resistance while making merchants PCI-compliant. The PCI non-compliance to is likely to increases the possibilities of card data breaches, which is likely to result in financial as well as non-financial impact that includes loss of reputation of the representatives and customer trust.
Price fixing along with anti-competitive trade practices in the credit card industry is the result of high interchange fees, which has doubled in the past. For instance, in the U.S., interchange fee on average is approximately 2% of the total transaction value. However, increase in the transparency of interchange process in the country has reduced interchange fees resulting in condensed merchant service charges. Rising implementation of such regulations in this highly competitive industry scenario may result in development of new measures in order to prevent fraudulent losses.
To access sample pages or view this report titled, “(mPOS) Mobile POS Terminals Market Size By Component (Software, Hardware), By Application (Restaurants, Entertainment, Hospitality, Healthcare, Warehouse, Retail), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, China, India, Japan, Brazil, Mexico), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2023” in detail along with the table of contents, please click on the link below:
https://www.gminsights.com/industry-analysis/mobile-point-of-sale-mpos-terminals-market
Key insights from the report include:
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For the purpose of this study, Global Market Insights has segmented the mPOS terminals industryon the basis of component, application, and region:
Global mPOS Terminals Market Component Analysis (Revenue, USD Billion, 2012 - 2023)
Global mPOS Terminals Market Application Analysis (Revenue, USD Billion, 2012 - 2023)
Global mPOS Terminals Market Regional Analysis (Revenue, USD Billion, 2012 - 2023)
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.