This market research report provides a comprehensive segmentation of the global EMV POS terminals market by key regions such as the Americas, APAC, and EMEA. It also includes an insightful analysis of the leading vendors in this market such as Ingenico, PAX Global Technology, SZZT, and VeriFone.
Technavio’s market research analysts estimate the global EMV POS terminals market to grow at a CAGR of CAGR of around 12% between 2016 and 2020. The increased adoption of Europay, MasterCard, Visa (EMV) cards is driving the EMV point-of-sale (POS) terminals market. According to the EMV standards, financial institutions across the globe have a deadline by which period all payment cards should be EMV compliant. The majority of the developed and developing nations have migrated or upgraded their payment cards and POS terminals to be EMV compliant. APAC occupies 48% of the EMV POS terminals market, owing to the presence of a vast number of retail outlets in this region that use EMV POS terminals.
The new market research report from Technavio provides a breakdown and analysis of the EMV POS Terminals segments by technology.
“Owing to the increase in cyber threats, vendors are incorporating advanced security standards in their POS terminals. They are introducing several security technologies such as signature capturing devices and biometric sensors into the POS terminals to secure the payment transactions. Also, the POS terminals are being incorporated with additional features such as touch screens, RFID, and bar code scanners to enhance user experience,” says Sunil Singh, Lead Analyst, Hardware & Semiconductor, Technavio Research
Vendors are focusing towards incorporating NFC compatibility with the EMV terminals. The NFC technology enables wireless communication between two devices using NFC-enabled chips, and this has transformed mobile phones into electronic wallets. Therefore, vendors in the market are making efforts to deploy the necessary technology for the acceptance of mobile payments using NFC technology. This will increase the adoption of POS terminals by retailers, restaurant chains, and hotels.
The key vendors in the global EMV POS terminals market include Ingenico, PAX Global Technology, SZZT, and VeriFone. The competitive environment in this market is expected to intensify further due to an increase in R&D innovations and M&A during the forecast period. The market is likely to witness a growing trend of territorial acquisitions by the leading players. The key players in the market are expected to diversify their geographical presence with a focus on the APAC region during the forecast period.
A more detailed analysis is available in the Technavio report, Global EMV POS Terminals Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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