A recent Transparency Market Research report states that the global mobile point-of-sale terminals market is anticipated to witness a skyrocketed growth from 2017 to 2027. The analysis by the experts at Transparency Market Research predicts that the market shall rise from the value of US$ 12 bn in 2016 to US$ 152 bn by the end of 2027. The mobile point-of-sale terminals market is also projected to witness a whopping 37% CAGR during the tenure says the report. The analysis by the experts states that the market’s growth is attributed the growth of the online shopping massive penetrations of smart phones in online retail sector.
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Growing Penetration of Internet to Drive the Growth
Online shopping is one of the latest trend that is driving the success of any retail business today. To achieve this pacing momentum, the retail businesses are investing a major amount in establishing a consistent internet connectivity. This shows the importance of the internet in this sector the business. This importance and penetration of the internet in the online retail is the major factor that is booting the growth of global mobile point-of-sale terminals market from 2017 to 2027.
The success of a business is measure by revenue generated along with the number of satisfied customer. A satisfied customer can generate 3 time more revenue for the business than through an unsatisfied customer. Mobile Point-of-Sale Terminals allow the customers to get their products quickly and effortlessly. This increases the customer engagement which further result in better shopping experience. This experience provides better customer satisfaction and retention rate which results in better profit. Due to these facts the global mobile point-of-sale terminals market is growing exponentially in the duration of 2017 to 2027.