TechNavio recognizes the following companies as the key players in – Global NFC POS Terminals Market: First Data Corp., Ingenico SA, Pax Technology Ltd., and VeriFone Systems Inc.
Commenting on the report, an analyst from TechNavio’s team said: “The penetration rate of NFC technology in the Transportation sector is very high. In the Americas and the EMEA region, NFC technology is widely employed for ticketing. However, the penetration rate of this technology is low in the APAC region. NFC-based ticketing systems require mobile NFC POS terminals, which are deployed in public transport vehicles. The use of NFC POS terminals in public transport vehicles has facilitated high flexibility while carrying out transactions through NFC-enabled devices and has helped reduce the use of paper. NFC technology is also expected to be incorporated in check-in and passport verification systems at airports. Factors like these are expected to foster the demand for NFC POS terminals, which in turn is expected to propel the growth of the market during the forecast period.”
According to the report, the growth of the Global NFC POS Terminals market is driven by several factors, the most important of which is the increasing penetration of NFC-based mobile handsets. As a result of the increasing popularity of NFC technology, numerous mobile manufacturers are integrating this technology in their handsets. Moreover, with the increasing popularity of NFC technology, there has been an increase in the adoption of NFC-based handsets, thereby driving the demand for NFC POS terminals.
Further, the report states that one of the key challenges in the market is the high cost of NFC POS terminals. As a result of the high cost, their demand is low in the market. For instance, merchants operating at low profit margins tend to postpone or put off their plans to purchase these terminals, despite the many advantages associated with them. This has led to low penetration of NFC POS terminals in the market.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/global-nfc-pos-terminals-market-2014-2018
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/it-hardware-software-services
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TechNavio Announces the Publication of its Research Report – Global NFC POS Terminals Market 2014-2018
