Global Shipment of mPOS Hardware Devices is Estimated to Exhibit A CAGR of 47.0%

Date: 2015-10-16

The global shipment of mPOS hardware devices is estimated to exhibit a CAGR of 47.0% during the period from 2015 to 2022. The growth in the volume of mPOS shipments will be mainly driven by the large number of merchants adding mPOS solutions to their existing POS solutions. As the technology evolves and becomes more mature, mPOS solutions are becoming viable solutions for merchants who are willing to completely replace their traditional solutions by new technology. It is predicted that globally, the installed base of mPOS will exceed the installed base of POS terminals in the coming years. 
The global mPOS market is anticipated to reach 245.21 mn units by 2022. Growing awareness of the advantages of mPOS systems, such as the lower cost of ownership and easier portability, is driving the market for mPOS solutions. The market is also growing due to the increasing demand for mPOS solutions from a wide range of industries across various regions. 

While in emerging markets, mPOS terminals promote financial inclusion, this technology is a line-buster at retail stores in the developed economies, shortening checkout lines and improving checkout efficiency.  Countries such as the U.K., the U.S., and Japan have witnessed faster adoption of mPOS in the last few years. This adoption is due to the large base of internet and smartphone users, as well as other favorable conditions such as high penetration of card payment facilities. Some other economies such as India, Brazil, China, and Mexico are also becoming key areas of investment for players involved in the mPOS ecosystem. 

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