[January 22, 2018] |
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PoS Mobile Card Reader Market - Incorporation of Artificial Intelligence to Boost Growth | Technavio
The global
PoS mobile card reader market is expected to grow at a CAGR of
almost 45% during the period 2018-2022, according to a new market
research study by Technavio.
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http://www.businesswire.com/news/home/20180122006079/en/
Technavio has published a new market research report on the global PoS mobile card reader market 2018-2022 under their hardware and semiconductor library. (Graphic: Business Wire)
The report categorizes the global PoS mobile card reader market by
technology (contact technology and contactless technology), by end-user
(large enterprises and MSMEs), and by product (EMV and Non-EMV). The
report also determines the geographic breakdown of the market in terms
of detailed analysis and impact, which includes key geographies such as
APAC, the Americas, and EMEA.
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Market driver: e-commerce sales backed by digital transactions
The global growth in e-commerce sales will be among the key factors for
the adoption of PoS
mobile card readers to support remote payments. It is predicted that
the total retail sales will grow at a CAGR of about 18% during
2016-2020. APAC will be among the largest e-commerce markets, where the
sales are expected to double during this period.
According to a senior analyst at Technavio for computing
devices research, "In developed regions such as North America and
Europe, digital transactions for e-commerce transactions are common. The
preferred mode of payment among consumers includes credit and debit
cards and PayPal (News - Alert). But, in developing countries such as India, cash on
delivery is still a preferred option for mode of payment for online
shopping."
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challenges, trends, and more.
Market trend: incorporation of artificial intelligence
Digital and mobile payments are increasingly gaining traction in the
supply chain of consumer goods and services. A whole new world of
possibilities opens when personalized connections between customer and
merchant are made available through mobile technologies and artificial
intelligence (AI). Customers and merchants can interact more quickly,
request more information, or make purchases when and where ever they
feel most compelled. With the use of AI, the PoS mobile card readers
would have already identified and verified the payment credentials.
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Some of the companies in the market:
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Clover Network
-
Electronic Merchant Systems
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Etsy (News - Alert)
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First Data
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eWay
The market for PoS
mobile card readers is in the growth stage of the product life
cycle, characterized by increasing sales, increase in profits, growing
customer base, increase in the number of competitors, and decline in the
cost per customer. The market is concentrated, and the competition among
the existing vendors is intensifying and is anticipated to grow during
the forecast period.
Get a sample copy of the global
PoS mobile card reader market report free of cost
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View source version on businesswire.com: http://www.businesswire.com/news/home/20180122006079/en/
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