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    North America mPOS Terminals Market Forecast 2027 By Solution (Hardware [Handheld Terminal, Tablet], Software) By Deployment (On-Premise, Cloud-Based), By Application (Entertainment, Healthcare, Hospitality, Restaurant, Retail [Convenience Store, Department Store, Supermarket/Hypermarket, Discount Store, Specialty Store], Warehouse), Research Report, Country Outlook, COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share
    Published Date: February 2022   |   Report ID: GR2065   |   Delivery: PDF  Request Free Sample

    North America mPOS Terminals Market size valued at USD 7 billion in 2020 and is anticipated to exhibit a CAGR of 16% between 2021 and 2027.


    North America mPOS Terminals Market Report, By Region

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    The rising utilization of digital payments will boost the mPOS terminals market demand across the region. The easy usability of smartphone applications, in terms of completing Unified Payments Interface (UPI) based transactions, has supported the growth of cashless transaction methods. With the integration of digital wallets and payment applications, such as Google Pay & Apple Pay, with smartphones, consumers are adopting digital channels for paying their bills. In March 2021, Visa International Inc. confirmed growth of around 30% year-over-year in its tap to pay transactions, indicating an increase in the utilization of such services for payments. In addition, the safety & security features offered by the system, in terms of tracking money, have further encouraged customers to adopt the technology for day-to-day activities.

    The coronavirus pandemic has moderately affected the manufacturing capabilities of production sites in North America. Lockdown measures, travel restrictions & social distancing norms imposed by government organizations to avoid virus transmission have disrupted the supply chain, logistics & industrial activities of the companies. However, these factors have boosted the use of digital payment portals or contactless payment methods across the population. Consumers prefer digital services to complete their transactions safely without any direct human contact. Currently, consumers are utilizing this payment technology in convenience stores, hospitals, restaurants, theaters & specialty stores.

    North America Market, By Solution

    The introduction of new handheld terminals with advanced software will propel the North America mPOS terminals market revenue. Companies in the industry are focusing on expanding their product range by launching new devices with better functionality to establish a differentiated positioning in the market. For instance, in January 2022, Adyen N.V. launched all-in-one Android mobile POS terminals in the U.S., the UK & the EU. The device eliminates the requirement for barcode scanners, separate cash registers & customer-facing displays, thus improving the overall efficiency of the business. In addition, the terminal is installed with app management software, allowing merchants to manage & upload new apps utilized for activities such as loyalty programs, inventory management & returns.

    North America mPOS Terminals Market, By Deployment

    The growing demand for remote data storage platforms will drive cloud-based mPOS terminals in the region. The technology offers safe, secure & seamless access to a large amount of data, enhancing the overall user experience. To cater to the rising requirements, companies are forming strategic alliances. In January 2021, Mastercard International Incorporated partnered with Network Merchants, LLC, Computer Engineering Group, and Global Payments Inc. to launch a cloud tap on phone pilot. The solution will be hosted on Microsoft’s Azure cloud platform and will allow different types of businesses to offer a contactless payment consumer experience with the help of their existing Android tablets or smartphone devices.

    North America Market, By Application

    Increasing implementation of the technology in restaurants will fuel the North America mPOS terminals market growth. Business owners are emphasizing on integrating smart technologies across their infrastructure to improve productivity & time management. They are installing a holistic software solution to manage the various aspects of a site. For instance, in January 2021, CKE Restaurants selected PAR Technology Corporation for deploying cloud-based Brink POS software systems across its franchisee and corporate-owned restaurants. The company offers both service & hardware solutions that can be integrated with fixed devices and tablets. This system supports restaurateurs in increasing their efficiency and flexibility, enabling them in catering to a large set of customers.

    Competitive Industry Landscape

    Prominent participants operating across the North America mPOS terminals market include Ingenico Group, Oracle Corporation, NCR Corporation, First Data Corporation, Diebold Nixdorf, Incorporated, Touch Dynamic, Verifone Holding Inc., Zebra Technologies, Posiflex Technology, BBPOS Ltd., SZZT Electronics, Bitel Co., Ltd., Square Inc., PAR Technology Corporation, and PAX Global Technology. The industry players are focusing on receiving certification from global financial partners to strengthen their industry positioning.

    Frequently Asked Question(FAQ) :

    How big is North America mPOS terminals market?
    The market value for mPOS terminals in North America had reached $7 billion in 2020 and may depict 16% CAGR during the forecast period of 2021-2027.
    Why are customers inclining towards handheld mPOS terminals?
    Handheld mPOS terminals are likely to capture a sizeable share of North America industry by 2027 as several companies are focusing on introducing advanced mPOS software in handheld devices to cater to their clients’ unique business needs.
    What is the role of the cloud deployment model in mPOS terminals?
    The market size for mPOS terminals in North America from the cloud deployment model is likely to showcase a robust CAGR through 2027 as the cloud technologies offer users a safe, seamless, and secure access to large volumes of confidential data files, which can enhance their experience.
    How will restaurants benefit from the use of mPOS terminals?
    mPOS terminals will find wide-ranging applications in restaurants across North America as owners are working with service providers to integrate smart technologies across their infrastructure to enhance their time management and productivity.
    Which are the companies operating in North America mPOS terminals landscape?
    Ingenico Group, NCR Corporation, Oracle Corporation, First Data Corporation, Diebold Nixdorf, Inc., Verifone Holding Inc., Touch Dynamic, Zebra Technologies, and several other reputed organizations are offering high-end mPOS terminal solutions to their clients across North America.

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