Global EMV POS Terminal Market 2018-2022
About this market
The increase in the adoption of cloud-based POS terminals to drive market growth. Both retail and hospitality have shown interest in the use of cloud-based POS terminals. The cloud-based system can be directly accessed through the Web and is usually compatible with POS hardware. Technavio’s analysts have predicted that the EMV POS terminal market will register a CAGR of more than 9% by 2022.
Increasing preference for contactless card payment
Contactless card payment involves a debit card or credit card enabled with NFC technology through which transaction is executed. The ease of the use of this card has gained prominence among the end-users.
Rising threat from alternate payment systems
Payments through mobile apps in retail and hospitality industry is on the rise which has impacted the use of EMV cards, leading to the decrease in adoption of EMV POS terminals.
For the detailed list of factors that will drive and challenge the growth of the EMV POS terminal market during the 2018-2022, view our report.
The market appears to be fragmented and with the presence of several companies including Ingenico Group and Verifone the competitive environment is quite intense. Factors such as the increase in the adoption of cloud-based POS terminals and the increasing preference for contactless card payment, will provide considerable growth opportunities to EMV POS terminal manufactures. Ingenico Group, Verifone, PAX Global Technology, NCR, and First Data are some of the major companies covered in this report.
‘With the presence of a considerable number of companies, this market appears to be fragmented. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.’
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook