mPOS Terminals Market forecast to grow at 19% CAGR from 2016 to 2023: Fractovia.org The latest mobile POS terminals market analysis and research report talks about major applications of mobile POS terminals, growth of these segments as well as offers insights into company’s active in this industry and their information. Mobile point of sale terminals market is witnessing a parallel growth with the increasing consumer claim for wireless communication technology. Growing adoption of smartphones and mobile devices along with deployment of technologies such as GPRS across the globe is pushing mobile point of sale terminals industry noticeably. As per the report by Global Market Insights, Inc., Worldwide mobile point of sale terminals market was worth USD 11.54 billion in 2015 and will record an annual growth rate of 19% over the period of 2016-2023.
Mobile point of sale terminals market finds wide application across sectors including retail, healthcare, entertainment, hospitality, warehouse, and restaurant. Entertainment applications is anticipated to have a strong growth prospect in future owing to the increasing implementation of these systems in pubs, casinos, pubs, tourism, and amusement park. It is projected to collect a revenue of around USD 4.35 billion by 2023. Mobile point of sale terminals industry from retail sector covered more than 30% of the total volume in 2015 and will register an annual growth rate of 17.8% over the period of 2016 2023. The robust growth in the aforementioned sector can be credited to the rising number of retail chains such as supermarkets and hypermarkets. Healthcare application segment is anticipated to collect a revenue of USD 4.36 billion by 2023, primarily driven by its growing adoption in medical fraternity fueled by the increasing patient’s health concerns. mPOS system also performs various backend tasks such as fast billing, inventory & patient’s data tracking. In addition to this, favorable government initiatives about the deployment of such a terminal across the medical spacer will also augment mobile point of sale terminals industry growth noticeably.
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