London, 18 March 2015: Technavio, the independent tech-focused global research firm, has published a report on the Global Mobile POS Systems Market 2015-2019, which is expected to grow at a CAGR of 9.6 percent in terms of revenue and 12.7 percent in terms of unit shipment during the forecast period of 2014-2019.
The predominant factor driving the market growth is the increased penetration of mobile POS systems in the retail and hospitality sectors. The surge in need for mobility by the merchants in these sectors to ease the customer checkout process will tend to fuel the market growth during the forecast period.
“The increase in awareness about near-field communication technology among merchants has resulted in the growing adoption of POS terminals and fostered the growth of NFC-based payments,” says Faisal Ghaus, Vice President of TechNavio.
“Besides providing easy and quick transactions, merchants can employ NFC for loyalty programs, marketing, and providing information about the products customers are likely to purchase.”
Key Market Drivers
- Increased Need for Mobility by Merchants
- Increased Footfall in Retail Outlets
- Proliferation of Non-cash Payment Methods
- Increased Adoption of EMV Cards
- Need for Effective Information Management
Key Market Trends
- Increase in Penetration of Mobile Computing Devices
- Increase in Penetration of NFC Technology
- Increased Awareness about Mobile Wallet
- Stringent Regulations for Secure Payments
Key Market Vendors
- Datalogic SpA
- Fujitsu Ltd.
- Ingenico Group
- Honeywell Scanning and Mobility
- Motorola Solutions Inc.
- Pax Technology Ltd.
- VeriFone Systems Inc.
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
