New York, US, Oct. 27, 2021 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Mobile POS Market information by Deployment, by Components, by Application and Region – forecast to 2027” market size to reach USD 75.3 billion, growing at a compound annual growth rate of 23.4% by 2025.
Mobile POS are rail transport vehicles designed to tow gauges of different bogeys such as diesel, steam, and electric. Governments looking for plans to beautify and modernize cities are likely to be the biggest purveyors of mobile POS. Single mobile POS are being procured owing to their low impact on the rail lines and low operational costs. The global mobile POS market report by Market Research Future (MRFR) identifies new trends in mobile POS and its future applications through in-depth research for the forecast period (2020-2027). The COVID-19 pandemic and its effects also make up a large portion of the report.
Dominant Key Players on Mobile POS Market Covered are:
Cisco Systems Inc.
First Data Corporation
Samsung Electronics Co
PAX Technology Limited
VeriFone Systems Inc
Epicor Software Corporation
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Market USP Exclusively Encompassed:
Prevention of Financial Fraud Major Driver
Nations aiming to connect the large populace of cities with rural areas can lead to heave investments in rail infrastructure. Expansions of rail road projects to serve as a reliable backup for trade and being integral to logistics and supply chains can drive the mobile POS market. Bids and auctions invited by governments to modernize the railways can serve as an incentive to mobile POS manufacturers.
Adoption of Contactless Payments by Merchants to Encourage Market Growth
The fuel burn penalty for mobile POS emitting nitrogen oxide can motivate railroad operators to opt for engines with alternative fuels such as diesel, LNG, and electric. Replacement of gasoline engines with diesel and encouragement of brake thermal efficiency can bode well for the market. Investments in fuel injection technology to improve the performance of mobile POS engines has high potential in the market.
Hybrid mobile POS to Disrupt the mobile POS Market
Hybrid mobile POS are estimated to gain precedence slowly in the market as nations look to introduce sustainable development goals in their budget. Benefits of low fuel consumption and noise reduction compared to its conventional counterpart can drive its demand. Modernization initiatives by nations to rapidly upgrade its railroad infrastructure and connect citizens to faraway routes can bode well for the market. This is exemplified by the agreement between Hyundai Rotem and the Tanzania Railway Corporation for electric mobile POS and electric multiple units.
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Segmentation of Market Covered in the Research:
Hardware Component Deemed to Lead in Market Share
By component, the global mobile POS market has been divided into hardware, software, and services. The services segment has been further divided into professional and managed services.
On-premise Deployment to Garner Significant Revenue
By deployment, the global mobile POS market has been divided into cloud and on-premise.
Wi-Fi Connectivity Technology to Lead till 2027
Based on connectivity, the global mobile POS market has been divided into 3G/4G, Wi-Fi, Bluetooth, and others.
Restaurants to be Biggest Market Application
On the basis of application, the global mobile POS market has been divided into retail, restaurants, healthcare, entertainment, hospitality, and others.
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North America to Lead Global mobile POS Market
North America is touted to be highly lucrative for the market owing to a large customer base and the potential for railroad networks. Rapid industrialization and transport of goods through freight carriers can drive the regional mobile POS market growth. Huge production of rolling stock and investments in railroad connectivity projects can influence the market.
COVID-19 Impact on the Global Mobile POS Market
The COVID-19 outbreak is likely to act as a catalyst for the mobile POS market. This is attributed to the use of renewable technologies to counter the effect of emissions. Switch to diesel and electric mobile POS engines can lead to high interest by investors looking for investing in green energy. Rise of leasing equipment dealing agencies owing to rampant international trade can drive the market demand significantly. Recently, European Loc Pool has procured mobile POS from Stadler Rail to enhance its freight services plans.
Moreover, mobile POS systems have been pivotal in transporting passengers during the pandemic in densely populated areas. A special bogey has been reserved to operate as a hospital to cater to any new cases.
The SL Abt-kun, a steam mobile POS running in the Usuitouge Railway Heritage Park, has gained funding for its restoration through crowdfunding efforts. The mobile POS was restored at a factory and will provide runs to visitors thronging the park after relaxation of norms.
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