Growing Adoption of Contactless Payments to Support NFC POS Terminal Market Growth during 2020-2027

The NFC POS TERMINAL Market research report by The Insight Partners includes Market segmentation and overlays shadow upon the leading market players highlighting the favourable competitive landscape and trends prevailing over the years. This study provides information about the sales and revenue during the historic and forecasted period of 2020 to 2027. Understanding the segments helps in identifying the importance of different factors that aid the NFC POS TERMINAL market growth.

According to our latest market study on "NFC POS Terminal Market Forecast to 2027 - COVID-19 Impact and Global Analysis - by Product Type (Mobile and Fixed) and Application (Entertainment, Healthcare, Hospitality, Retail, and Others)," the market was valued at US$ 3,390.47 million in 2019 and is projected to reach US$ 11,503.09 million by 2027; it is expected to grow at a CAGR of 16.8% from 2020 to 2027. The report highlights key factors driving the market growth and prominent players with their developments in the market.

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Companies Profiled in this report includes: Castles Technology Co., Cybernet, Inc., Equinox Payments, First Data Corp, Heartland Payment Systems, Paz Technology Ltd., Ingenico SA, NEC Technology, Szzt Electronics Co., Ltd., Verifone Systems

NFC is a wireless data transfer method that enables data to be exchanged in close proximity by smartphones, laptops, tablets, and other devices. Via mobile wallets such as Apple Pay, Android Pay, as well as contactless cards, NFC technology powers contactless payments. The rising number of the supermarket, specialty store, and hypermarket are raising demand for the NFC POS terminal across them. US, China, Germany, France, and Japan are five major countries contributing to the highest revenue share in the NFC POS terminal market. Some of the factors stimulating the market for NFC POS terminal include an increasing preference for NFC-compatible smartphones for payment among global population. While in the mid-2000s, Near Field Communication or NFC was developed jointly by Philips and Sony, over the years, the technology has evolved for different use cases. With 3.4 billion active smartphones in the world today, mobile penetration is at an all-time high. There are 2 billion computers, mostly tablets that can be NFC-enabled. Increased penetration of NFC-based mobile handsets is one of the main factors contributing to the growth of the NFC POS terminal industry. The increasing use of NFC-enabled smartphones is likely to expand the use of NFC POS terminals for payments and digital exchange in the transportation, retail, and healthcare industries.

The global NFC POS terminal market has been segmented as follows:
NFC POS Terminal Market - by Product Type
Fixed
Mobile

NFC POS Terminal Market - by Application
Retail
Hospitality
Entertainment
Healthcare
Others

Global NFC POS TERMINAL Market: Regional Analysis
The report offers in-depth assessment of the growth and other aspects of the NFC POS TERMINAL market in important regions. Key regions covered in the report are North America, Europe, Asia-Pacific and Latin America.

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Market Insights
Rising Adoption of NFC POS Solutions in Retail Sector
Over the years, near-field communication (NFC) as emerged as one of the best-known technologies used in many mobile payment solutions. Smartphones are fitted with NFC chips these days; therefore, while making store transactions, mobile consumers can use their devices instead of cash and credit cards. The technology may also be used to provide end users with a better experience, in addition to removing the hassle of paying for in-store products. With the introduction of NFC POS solutions, store owners can smartly deliver product details to their shoppers by making the billing process across the store simpler and less time consuming. These digital accessories are typically attached to a store item with a "tap to pay" label that customers can use to directly pay for the purchased item without any hassle.

Global NFC POS TERMINAL Market: Competitive Landscape
This section of the report identifies various key manufacturers of the market. It helps the reader understand the strategies and collaborations that players are focusing on combat competition in the market. The comprehensive report provides a significant microscopic look at the market. The reader can identify the footprints of the manufacturers by knowing about the global revenue of manufacturers, during the forecast period of 2020 to 2027.

Table of Content
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. NFC POS Terminal Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. NFC POS Terminal Market - Key Market Dynamics
5.1 Market Drivers
5.2 Market Restraints
5.3 Market Opportunities
5.4 Future Trends
5.5 Impact Analysis of Drivers and Restraints
6. NFC POS Terminal market - Global Analysis
6.1 NFC POS Terminal market Global Overview
6.2 NFC POS Terminal market - Revenue and Forecast to 2027 (US$ Million)
6.3 Global Market Positioning - Five Key Players
…..Continued

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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