Market Size of MPOS Terminals Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 44.26 Billion |
| Market Size (2029) | USD 80.58 Billion |
| CAGR (2024 - 2029) | 12.73 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Americas |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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mPOS Terminals Market Analysis
The MPOS Terminals Market size is estimated at USD 44.26 billion in 2024, and is expected to reach USD 80.58 billion by 2029, growing at a CAGR of 12.73% during the forecast period (2024-2029).
The mobile POS or mPOS terminals or market denotes the mobile devices used to make transactions, including smartphones or tablets and dedicated payment devices, to make payments at the point of sale.
- In this case, the payment is made by scanning a QR code, debit and credit cards, cash, or UPI transfers. The mPOS systems make it accessible for businesses to accept payment in different forms, making it easy for customers to pay conveniently. Since these systems can process all the payment modes and keep track of the transactions, they help reduce the overall cost and improve efficiency.
- Mobile POS systems are gaining traction as they allow sales and service industries to conduct the transaction at the customer's location, adding flexibility to the whole process and improving customer experience. The growth in e-commerce globally and the entangling of brick-and-mortar and online retail practices are also expected to affect the future growth of the terminals. In fact, with the option of cash on delivery provided by major e-commerce platforms, a sudden surge in the adoption of mobile POS terminals has been recognized.
- Data protection is paramount as mPOS devices may not have security protocols as robust as their POS counterparts, especially if using commercial-off-the-shelf (COTS) devices such as Apple or Android smartphones and tablets.
- Towards the end of the forecast period, the market is anticipated to grow as vends increase their relevant offerings in response to the increased demand for contactless ease-of-use payment methods. As mPOS solutions are specially designed for handheld devices instead of desktop computers, the trend of smaller and more portable devices will augment the market's growth.
