NFC POS Terminal Market Existing and Future Growth Insights of Leading Key Players Castles Technology Co., Ltd, Equinox Payments LLC, Clover Network, Inc

Geographically, in 2019, North America led the global NFC POS terminal market with more than 30% revenue share, followed by APAC and Europe. The rising use of NFC-enabled smartphones is accelerating the use of NFC POS terminals for payments in industries such as retail and healthcare in the region. The rising number of department stores in the US and growing demand for advanced technologies with an objective to gather real-time information is also surging the market in North America. The rising security concerns due to cyberattacks and increasing government initiative are factors contributing to the growth of NFC POS terminal market in the region.

The US is the worst affected country due to COVID-19 outbreak across the world, thereby influencing the high adoption of online shopping across the country. For instance, according to studies, Amazon recorded an increase in sales by 37% owing to the pandemic in 2020. It is becoming apparent with the COVID-19 pandemic spreading across the US that a few can escape its scope, presenting significant challenges to all industries. The closedown of all retail outlets by the government authorities coupled with the social distancing norms laid down by them is negatively affecting the investments by retail outlets on any kind of technological advancements. For instance, the sales of online grocery segment across the US, recorded an increase by 210.1% due to the pandemic. This rising online sales of consumables are decreasing the dependency of the region’s population on brick and mortar stores, which is restraining the growth of the NFC POS terminal market.

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The ‘Global NFC POS Terminal Market’ research report added by The Insight Partners, is an in-depth analysis of the latest developments, market size, status, upcoming technologies, industry drivers, challenges, with key company profiles and strategies of players. The research study provides market overview, NFC POS Terminal market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, NFC POS Terminal market size forecast, market data & Graphs and Statistics, Tables, Bar & Pie Charts, and many more for business intelligence.

The NFC POS terminal market was valued at US$ 3,390.47 million in 2019 and is expected to reach US$ 11,503.09 million by 2027; it is estimated to grow at a CAGR of 16.8% during 2020–2027.

Some of the key players profiled in the study are Castles Technology Co., Ltd, Equinox Payments LLC, Clover Network, Inc, Heartland Payroll Solutions, Inc, VeriFone, Inc, Fiserv, Inc., PAX Global Technology Limited, Ingenico Group S.A, NEC Corporation, SZZT Electronics Shenzhen Co., Ltd, etc.

An Overview of the Impact of COVID-19 on this Market:
Due to the pandemic, we have included a special section on the Impact of COVID 19 on the NFC POS Terminal Market which would mention How the Covid-19 is Affecting the NFC POS Terminal Industry, Market Trends and Potential Opportunities in the COVID-19 Landscape, Covid-19 Impact on Key Regions and Proposal for NFC POS Terminal Players to fight Covid-19 Impact.

The research provides answers to the following key questions:
1. What is the estimated growth rate of the market for the forecast period 2020–2027? What will be the market size during the estimated period?
2. What are the key driving forces responsible for shaping the fate of the NFC POS Terminal market during the forecast period?
3. Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the NFC POS Terminal market?
4. What are the prominent market trends influencing the development of the NFC POS Terminal market across different regions?
5. What are the major threats and challenges likely to act as a barrier in the growth of the NFC POS Terminal market?
6. What are the major opportunities the market leaders can rely on to gain success and profitability?

The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the NFC POS Terminal market. Further, the report conducts an intricate examination of drivers and restraints operating in the market. The report also evaluates the trends observed in the parent market, along with the macro-economic indicators, prevailing factors, and market appeal with regard to different segments. The report predicts the influence of different industry aspects on the NFC POS Terminal market segments and regions.

NFC POS Terminal Market – by Product Type
• Mobile
• Fixed
NFC POS Terminal Market – by Application
• Entertainment
• Healthcare
• Hospitality
• Retail
• Others

NFC POS Terminal Market: Regional analysis includes:
• Asia-Pacific Europe (Turkey, Germany, Russia UK, Italy, France, etc.)
• North America (The United States, Mexico, and Canada.)
• South America (Brazil etc.)
• The Middle East and Africa (GCC Countries and Egypt.)

This report strategically examines the micro-markets and sheds light on the impact of technology upgrades on the performance of the NFC POS Terminal market.

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