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Wireless POS Terminal Market Projected to reach 13.00 Billion USD by 2023 with a growing CAGR of 11.59%
by nareshkumar · October 16, 2019

The report “Wireless POS Terminal Market by Component (Hardware, Software & Services) Men's Adidas Tennis HU Holi Festival Bright Blue White Sale , Type (Portable Countertop & PIN Pad, mPOS, Smart POS), Industry (Retail, Hospitality, Healthcare Men's Adidas Tennis HU Holi Festival Bright Green White Sale , Transportation, Sports & Entertainment), and Geography – Global Forecast to 2023″, The wireless POS terminal market was worth USD 6.73 Billion in 2017 and is expected to be valued at USD 13.00 Billion by 2023, at a CAGR of 11.59% between 2017 and 2023. The factors such as wide adoption of wireless payment terminal by retailers; growing use of EuroPay, MasterCard adidas ultra boost 3.0 sale , and Visa (EMV) cards; increasing e-commerce transactions; increase in cashless transactions in different countries; and growing adoption of wireless technology in mobile handsets and wearables drive the growth of the wireless POS terminal market.

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Mobile POS (mPOS) implementations allow the service and sales industries to conduct financial transactions, improving the customer experience. The positive year-on-year growth of the market for mPOS is attributed to ease of accessibility and low cost of installation of these devices along with their availability on a monthly rental basis. These devices are cost-effective, easy to use, and compact in size, and their use is scalable for all business sizes.

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The wireless POS terminal market is rapidly expanding in APAC. The growth of the market in APAC can also be attributed to the rapidly growing customer base owing to increasing prominence of small and medium businesses (SMBs) coupled with the reduction in total cost of ownership. Benefits associated with these systems such as low queue time, high degree of security, paper-free receipt option, decrease in check-out space requirement, and increase in floor space are the other factors that would help fuel the growth of the wireless POS terminals market in APAC.

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