European mPOS Terminals Market size is expected to surpass USD 15 billion by 2027, according to a latest forecast report by Graphical Research.
The increasing focus on digital transformation across retail stores will drive the European market. Retailers are planning on integrating advanced solutions, such as IoT and cloud computing, to improve the customer overall shopping experience. For instance, in November 2021, Carrefour Group announced its digital retail strategy plan for 2026. This plan is set to increase investments in digital solutions by around 50%, allocating a total budget of approximately USD 3.57 billion between 2022 & 2026. It also includes the installation of advanced in-store mPOS software & hardware, propel the overall in-store digital transaction.
The sudden occurrence of coronavirus has slowed down the overall production capacity of the manufacturing sites. Transmission of the virus across the workforce has resulted in a temporary closure of factories hampering the supply & demand ratio. The closure of borders has created further challenges in terms of import & export of raw materials and necessary components. However, travel restrictions and lockdown measures imposed by governing officials have encouraged the population to utilize digital services for online shopping and completing transactions. This factor has also accelerated the retailers’ plans to convert their existing locations into smart stores, thus catering to the changing consumer demand.
Browse detailed statistical insights from the report, “Europe mPOS Terminals Market Forecast 2027 By Application (Entertainment, Healthcare, Hospitality, Restaurant, Retail [Convenience Store, Department Store, Supermarket/Hypermarket, Discount Store, Specialty Store], Warehouse), By Solution (Hardware [Handheld Terminals, Tablet], Software) By Deployment (On-Premise, Cloud-Based), Research Report, Country Outlook, COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
The growing focus on the development of retail-based cloud technology will drive the Europe mPOS terminals market demand. Companies are enhancing their product offerings to cater to a vast range of customers. They are focusing on strategic partnerships with software providers to accelerate the innovation process. For instance, in June 2021, GK Software collaborated with IBM Corporation to drive advancements in retail store solutions with the help of hybrid cloud technology integration. Through this move, the company’s CLOUD4RETAIL system including mobile POS, dynamic pricing & self-checkout features will be accessible through the IBM cloud platform. It will also support the GK Software in building integrated solutions and developing innovative offerings for retailers.
The mPOS terminals market in the hospitality sector will witness remarkable growth till 2027 owing to the introduction of a customized product range in the segment. To offer a precise & dedicated user experience, technology providers in the industry are focusing on developing new solutions. For instance, in August 2021, Bizzon Ltd partnered with Guestline for providing innovative mPos solutions to hotel operators. The collaboration will support the integration of Bizzon’s cloud-enabled restaurant management software & Guestline’s Rezlynx PMS, supporting hoteliers in taking digital orders, meeting changing consumers’ expectations, and adapting to the new regulations. It will also help business owners in optimizing the workforce and increasing staff mobility.
The European 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:
Europe Market, By Solution
- Handheld terminals
Europe Market, By Deployment
Europe Market, By Application
- Convenience stores
- Department stores
- Discount stores
- Specialty stores
- Other stores
The above information has been provided for the following countries: