According to a recent survey published by FMI, the global Contactless Payment Terminals market is expected to grow at a healthy CAGR during the forecast period between 2017 and 2027. The objective of the report is to uncover micro and macro-economic factors accelerating the sales of Contactless Payment Terminals over the coming decade.
Advent of Industry 4.0 Technology to Create New Growth Avenues for the Contactless Payment Terminals Market
Industrial sector is witnessing revolution as manufacturers across the world are extensively emphasizing towards adopting incorporating advanced automation, This is commonly being referred to as Industry 4.0.
With the advent of Industry 4.0, manufacturing facilities are prioritising the use of novel technologies such as artificial intelligence, smart manufacturing, the internet of things (IoT), and machine learning, among others. This is projected to generate lucrative growth prospects in the market for Contactless Payment Terminals.
Furthermore, rising government attention on improving the manufacturing sector and integrating augmented and virtual reality using smart equipment to boost output is expected to drive market demand in the future years.
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Key Contactless Payment Terminals Market Takeaways and Projections
- The U.S. is estimated dominate the Contactless Payment Terminals market in North America, accounting for the largest share in the region through 2022.
- Germany is projected to account for a significant share in the Europe market over the assessment period.
- China is forecast to hold the lion’s share the East Asia market, projecting the fastest growth in the region between 2017 and 2027
- India is anticipated to emerge as a highly remunerative market in South Asia, accounting for the largest sales during the forecast period.
Report Benefits & Key Questions Answered
- Contactless Payment Terminals Historical Market Outlook: Future Market Insight’s analysis examines vital dynamics, such as drivers, opportunities and challenges. It studies their impact on the market over the previous assessment period 2016-2020. The report provides crucial insights to market players to capitalize on opportunities and counter challenges.
- Contactless Payment Terminals Demand-Supply Assessment: A latest study published by FMI offers in-depth insights into governing factors facilitating the demand outlook of the Contactless Payment Terminals As per the survey, Contactless Payment Terminals sales will project steady growth over the forecast period.
- Contactless Payment Terminals Consumption by Demographics: The report published by FMI provides consumption by demographics analysis to assist the market players in formulating their marketing strategies on the basis of purchasing power of the customers. It examines changes in consumer behavior and also studies its effect on the demand for Contactless Payment Terminals.
- Contactless Payment Terminals Market Trend Analysis: FMI’s market trend analysis provide detailed insights into current and upcoming trends in the industrial automation industries. It also assist the industry players to identify potentials trends to capitalize on them.
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Contactless Payment Terminals Market: Prominent Players
Some of the prominent players in the global contactless payment terminals market are:
- Heartland Payment Systems Inc.,
- Wirecard AG
- Castles Technology
- On Track Innovations LTD
- PoyntCo
- ShopKeep
- iZettle AB
- Clover Network Inc,
- internalDrive, Inc.
- Ingenico Group
- Verifone
- Chip & PIN Solutions Ltd
Contactless Payment Terminals Market: Market Segmentation
The global contactless payment terminals market can be segmented on the basis of technology it uses to operate:
- Bluetooth
- Infrared
- Radio-Frequency Identification (RFID)
- Near Field Communication (NFC)
- Carrier based mobile
It can also be segmented on the mode of payment used:
- Credit card
- Debit card
- Account based
- Stored value
- Smart cards
It can be segmented on the basis of applications:
- Retail
- Healthcare
- Hospitality
- Logistics
- Travel & Tourism
- Information Technology
- Telecommunication
- BFSI
- Public Transport
The regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia-Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- The Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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