With Market Size Valued at $46.2 Billion by 2026, it`s a Healthy Outlook for the Global mPoS Terminals Market
SAN FRANCISCO, Jan. 18, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "mPoS Terminals - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
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Global mPoS Terminals Market to Reach US$46.2 Billion by the Year 2026
Amid the COVID-19 crisis, the global market for mPoS Terminals estimated at US$20.6 Billion in the year 2020, is projected to reach a revised size of US$46.2 Billion by 2026, growing at a CAGR of 14.5% over the analysis period. Hardware, one of the segments analyzed in the report, is projected to grow at a 14% CAGR to reach US$41 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Software segment is readjusted to a revised 16.4% CAGR for the next 7-year period. This segment currently accounts for a 20.5% share of the global mPoS Terminals market. The mPOS terminal hardware segment is anticipated to be the largest contributor, as hardware components such as hand-held terminals, and smartphones and tablets paired with debit/credit card readers attributed to the major revenue share. mPOS software is expected to witness high growth through the analysis period due to the increased demand for fast, efficient, scalable, and effective checkout solutions. Additionally, the advancements in mobile applications are accelerating further demand for POS software, driving further initiatives in this space.
The U.S. Market is Estimated at $6.7 Billion in 2021, While China is Forecast to Reach $7.5 Billion by 2026
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SOURCE Global Industry Analysts, Inc.
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