Published Date: 2022-02-24
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APAC mPOS Terminals Market size is poised to reach USD 25 billion by 2027, according to a latest forecast report by Graphical Research.
The increasing number of internet and smartphone users will boost the adoption of mPOS terminals in Asia Pacific. The market for smartphones at the entry-level price is projected to be driven by growing demand from the region's developing countries including India and South Korea. Smartphones are equipped with innovative wireless payment systems that use the Near-Field Communication (NFC) technology Mobile point-of-sale systems can easily interact with such devices and provide several advantages over conventional POS systems. These include low cost of ownership, easy use, and mobility. The advent of 5G has revolutionized the network infrastructure, enabling secured transactions, and in turn, boosting the mPOS market growth. For instance, in March 2020, NTT Docomo launched 5G commercial service in major cities of Japan.
The ongoing COVID-19 pandemic has moderately impacted the mPOS terminals industry growth in 2020 due to lockdowns imposed in different Asian Pacific countries including India, China, and Japan. The unpredictable trade relations of China & Japan with several countries of the world have disrupted the overall supply chains in 2020. The COVID-19 pandemic encouraged retail business owners to adopt cashless transactions to minimize virus transmission risks. The increasing acceptance of contactless payments had boost the demand for mPOS terminals in 2021.
Various countries in Asia Pacific including China, Japan, and India are witnessing high demand for mPOS tablets designed to update inventory in real-time. The open API framework makes it easy to customize tablet POS systems to fit the unique needs of various businesses. It helps access real-time reporting and analytics to inform business decisions that reduce costs and improve service. Market players, such as Micros Systems, Inc. and Shenzhen Xinguodu Technology Co., Ltd., offer various accessories along with the tablet including an extended battery, carrying pouch, and desktop charging cradle. The tablets are equipped with integrated Wi-Fi, Bluetooth connectivity, magnetic stripe reader, and an optional barcode scanner to streamline the payment process.
Browse detailed statistical insights from the report, “Asia Pacific mPOS Terminals Market Forecast 2027 By Deployment (On-Premise, Cloud-Based), By Solution (Hardware [Handheld Terminals, Tablet], Software), 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” along with the table of contents (ToC) @
https://www.graphicalresearch.com/industry-insights/2068/asia-pacific-mPOS-terminals-market
The demand for on-premise mPOS is increasing due to the rising number of data breach incidents. On-premise mPOS terminals offer businesses distinct benefits that include inventory management, accounting, and data storage at an affordable cost. The system supports machines running on various iOS and can also be deployed as client-server software. The region is witnessing data breach cases in digital payment processes. For instance, in January 2021, Juspay, an online transaction processing company for Amazon.com, Inc. and Swiggy, was hacked, which caused customer data breaches. With the help of POS terminals, users can effectively manage all aspects of POS operations including orders, returns, and payment processing with minimum data security issues. On-premise mPOS has a built-in CRM that creates a client database, tracks customer profiles, and performs purchase trend analysis. It is an integrated system that effectively performs various functions with high security compared to the cloud-based model.
The rising demand for online food delivery services has encouraged various restaurants to use mPOS terminals to serve customers efficiently across all channels. The increasing adoption of smartphone applications among millennials is leading to a rise in the number of online orders from restaurants. This has led to a surge in the sales of mPOS solutions in the region. Servers equipped with mPOS have immediate access to all details of the menu including real-time availability of products and ingredient information. mPOS improves restaurant operations by quickly taking orders, sending them to the kitchen, and processing payments. mPOS terminals enable the management of front-of-house, back office, and culinary operations from a single intuitive cloud-based platform.
The APAC mPOS terminals market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and shipments in units from 2016 to 2027 for the following segments:
Asia Pacific Market, By Solution
Asia Pacific Market, By Deployment
Asia Pacific Market, By Application
The above information has been provided for the following countries:
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