The Latin America, Middle East and Africa Smart Mobility Market would witness market growth of 17.4% CAGR during the forecast period (2020-2026). Electronic POS software systems help in simplifying the retail operations by making the transaction process automatic and monitoring the vital sales data.
The basic systems consist of an electronic cash register and software to handle & manage the collected data from daily purchases. By installing the networks of data-capture devices like barcode scanners & card readers, retailers can easily enhance their functionality.
There are many government administrations around the globe that are focusing more on the shift to a cashless society. This trend has motivated many retailers to accept more cashless payments in stores. The market would witness attractive growth opportunities due to the factors like decreased cost, growing penetration of wireless internet connectivity, and growth of telecommunication & broadband network coverage.
There are many advantages of the cashless payment options that attract more consumers towards these options. These advantages include secure payments, growth on the saved funds, better management of money, and the flexibility to use these options. The capability to make various kinds of digital payments via banking cards is allowing consumers to choose cashless payment modes. Customers can save their card details in digital payment applications or mobile wallets to do cashless payments. The increasing concerns for the security of managing cash transactions owing to the COVID-19 pandemic, retailers, and consumers, are depending on contact-less payment mediums to eliminate the risk of spreading the virus.
The Brazil market dominated the LAMEA Services Market by Country 2019, thereby, achieving a market value of $155.1 million by 2026. The Argentina market would witness a CAGR of 19.8% during (2020 - 2026). Additionally, The UAE market is experiencing a CAGR of 18.9% during (2020 - 2026).
The Fixed market dominated the South Africa Smart Mobility Market by Product 2019, growing at a CAGR of 17.1 % during the forecast period. The Mobile market is expected to witness a CAGR of 20.3% during (2020 - 2026).
Based on Product, the market is segmented into Fixed and Mobile. Based on Component, the market is segmented into Hardware, Software and Services. Based on End User, the market is segmented into Supermarkets/Hypermarkets, Discount Stores, Gas Stations, Convenience Stores, Specialty Stores, Grocery Stores and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: Smart Mobility Market in LAMEA is expected to register a CAGR of 17.4% during the forecast period (2020-2026)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Cisco Systems, Inc., Ford Motor Company, Robert Bosch GmbH, Siemens AG, TomTom N.V., Toyota Motor Corporation, Excelfore Corporation, Innoviz Technologies, Ltd., Thales Group S.A., and MaaS Global Oy.
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