The Europe Mobile POS Terminals Market would witness market growth of 9.4% CAGR during the forecast period (2022-2028).
Card-not-present (NPC) transactions is a virtual terminal that allows the user to manually key in card information on a digital device to make any purchase. These transactions are generally for telephone sales, but this feature comes in handy whenever the user has a credit/debit card that has difficulty being scanned. Separate employee accounts that allow the user to identify the transaction source errors.
One can also set permissions for account to prevent employees from accessing all of the information and features present on the mPOS system. Different businesses have different requirements from the mPOS terminal. For instance, a brick-and-mortar store will prioritize a mobile POS system if not attached to a physical location.
Most POS software is compatible with mobile devices like tablets and smartphones and can be joined with card readers to the smartphone into a smaller-scale POS terminal. Restaurants may benefit from self-service terminals for customers for easy payment and order, while retail stores generally opt for a terminal with advanced inventory management. Small service businesses operate well with terminals that have check-in and scheduling features.
Germany has one of the largest e-commerce industries in Europe. The internet penetration, the number of consumers, and the average amount spent each year are above the European average. The total sales were around $127.5 billion, or 24% growth compared to the previous year. Online sales in Germany are expected to increase from 62.4 million in 2020 to 68.4 million in 2025. The reason e-commerce has become so popular in the nation is that it contains 24/7 availability, convenience, and home delivery options. The growing popularity of e-commerce is expected to increase the usage of mobile POS terminals for an easy transaction, which will drive market expansion in the region.
The Germany market dominated the Europe Mobile POS Terminals Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $3,496.9 million by 2028. The UK market is anticipated to grow at a CAGR of 8.4% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 10.2% during (2022 - 2028).
Based on Component, the market is segmented into Hardware and Software. Based on Type, the market is segmented into Handheld Terminals, Smartphone & Others and Tablets. Based on Application, the market is segmented into Retail, Healthcare, Hospitality, Entertainment, Restaurant, Warehouse and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Mobile POS Terminals Market will Hit $53.3 Billion by 2028, at a CAGR of 9.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Fiserv, Inc., Oracle Corporation, Panasonic Holdings Corporation, Samsung Electronics Co., Ltd., Hewlett Packard Enterprise Company (HP Development Company L.P.), NEC Corporation, VeriFone Holdings, Inc. (Francisco Partners), Zebra Technologies Corporation, and PAX Global Technology Limited.
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