Global Contactless PoS Terminals Market 2020-2024 with COVID-19 Impact Analysis | Technavio
Technavio has been monitoring the contactless PoS terminals market, operating under the information technology industry. The latest report on contactless PoS terminals market 2020-2024 estimates it to register an incremental growth of USD 5.54 billion, at a CAGR of almost 16% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Technavio has announced its latest market research report titled Global Contactless PoS Terminals Market 2020-2024 (Graphic: Business Wire)
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Competitors have to focus on differentiating their product offerings with unique value proPoSitions to strengthen their foothold in the market. Market vendors also have to leverage on the existing growth prospects in the fast-growing segments, while maintaining their PoSitions in the slow-growing segments. Bluebird Inc., Fiserv Inc., Honeywell International Inc., Ingenico Group SA, NCR Corp. (News - Alert), Newland Payment Technology, PAX Global Technology Ltd., Spire Payments Ltd., SZZT Electronics Shenzhen Co. Ltd., and VeriFone Inc. are among some of the major market participants.
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Increasing adoption of contactless payment software has been instrumental in driving the growth of the market. However, the rising threat from substitute payment systems might hamper the market growth.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Contactless PoS Terminals Market 2020-2024: Segmentation
Contactless PoS Terminals Market is segmented as below:
Based on geographic segmentation, over 47% of the market growth originated from APAC during the forecast period. In addition, the retail segment led the growth under the end-user segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the market size.
Contactless PoS Terminals Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The contactless PoS terminals market report covers the following areas:
This study identifies the introduction of IoT and NFC-based contactless payment wearable devices as one of the prime reasons driving the Contactless PoS Terminals Market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio's in-depth research has direct and indirect COVID-19 impacted market research reports.
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Contactless PoS Terminals Market 2020-2024: Key Highlights
Table of Contents:
Five Forces Analysis
Market Segmentation by End-user
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market PoSitions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive PoSitions within changing market scenarios.
Smarter Strategies for IoT Deployment
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