Press release
Pay Card Reader Market Expansion Projected to Gain an Uptick During 2016 - 2022
Some of the major factors driving the growth of global pay card reader include rising penetration of tablets and smartphones all across the globe. Smartphones market have observed robust growth and is anticipated to escalate at a significant pace over the next few years. Apart from this, the recent transformation from cash and cheque to electronic and mobile payments will expand the growth of global pay card reader market in future. Apart from this, favorable government policies, rising number of smartphone base as well as large number of micro and small merchants is anticipated to intensify the growth of global pay card reader market during the projected period.
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Global Pay Card Reader market is segmented by: solution type, technology, applications and by region
Pay Card Reader by Solution Type
Card Reader Accessories
Integrated Card Reader Solutions
Pay Card Reader by Technology
EMV Chip And Pin
Hybrid Technology Solutions
Magnetic Stripe
Chip And Sign
Near Field Communication
Biometrics
Pay Card Reader by Applications
Healthcare
Restaurant
Retail
Warehouse/Distribution
Government and Consumer Utility Services
Transportation and Entertainment
Pay Card Reader by Region:
Asia Pacific
Europe
North America
Latin America
The Middle East & Africa
North America captured the highest share in the global Pay Card Reader market. North American market dominated the global pay card reader over the past few years followed by Europe and Asia-Pacific. Faster adoption of this technology in Asia pacific region especially in Japan, India and China over the next few years due to favorable economic conditions is expected to boost the growth of global pay card reader market during the forecast period.
The major players identified across the value chain of global Pay Card Reader market include Square Inc., PayPal Inc., Infineon Technologies AG, CPI Card Group Inc., NXP Semiconductors, First Data Corporation, and others. It has been noticed that Square Inc. captured the highest market share in the revenue terms in the global pay card reader market in 2015. Square generates around 95% of its revenue from payments and point of scale devices. The key vendors are expected to enter into various business strategies in order to expand the business portfolio and to mark their significant presence in global pay card reader market.
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