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Mobile Card Reader Market Analysis 2023: Size, Industry Overview, Size, Trends And Outlook 2032| Electronic Merchant Systems Inc., Ezetap Mobile Solutions Private Limited, Ingenico Group, LifePay ZAO, Mswipe Technologies Pvt. Ltd.
Mobile Card Reader Market Share
The Business Research Company's Mobile Card Reader Global Market Report 2023 identifies The rising adoption of smartphones for digital payments as the major driver for the mobile card reader market's growth in the forecast period. A smartphone refers to a mobile phone that connects to the internet and features software similar to that on a laptop. Digital payments refer to transactions that happen online or through digital channels without a physical exchange of money, this implies that both the payer and the payee exchange money via electronic means. The integration of physical card characteristics with smartphone functions is moving the future of card payments ahead, as a result, it will drive demand for mobile card readers in retail settings for shopping experiences.
The global mobile card reader market size is expected to grow from $10.30 billion in 2022 to $12.47 billion in 2023 at a compound annual growth rate (CAGR) of 21.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global mobile card reader market size is expected to grow to $26.71 billion in 2027 at a CAGR of 21.0%.
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Major competitors in the mobile card reader market are Electronic Merchant Systems Inc., Ezetap Mobile Solutions Private Limited, Ingenico Group, LifePay ZAO, Mswipe Technologies Pvt. Ltd., Miura Systems Limited, PayAnywhere LLC, Payleven Holding GmbH, PayPal Holdings Inc., Square, SumUp, Verifone Inc., eWAY, Stripe Inc., and Advanced Card Systems Ltd.
A key trend in the mobile card reader market includes Technological innovation. Major key players are increasingly focusing on launching innovative products to strengthen their position in the market. For instance, in July 2022, Revolut, a UK-based financial technology company launched Revolut Reader, a compact card reader. The unique features of this card include instant contactless payment options via debit, and credit cards. This card is adapted to other POS systems in place which includes an SDK/API solution. The company aims at ensuring flexibility to larger merchants with POS systems.
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https://www.thebusinessresearchcompany.com/report/mobile-card-reader-global-market-report
The mobile card reader market is segmented -
• By Solution: Hardware, Software
• By Technology: Chip And Pin, Magnetic Stripe, Near Field Communication (NFC)
• By Deployment: On-Premises, Cloud
• By Application: Entertainment, Retail, Healthcare, Hospitality, Restaurants, Warehouse, Other Applications
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the mobile card reader market.
The Business Research Company's "Global Mobile Card Reader Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Mobile Card Reader Market Include:
1. Executive Summary
2. Mobile Card Reader Market Characteristics
3. Mobile Card Reader Market Trends And Strategies
4. Mobile Card Reader Market - Macro Economic Scenario
5. Mobile Card Reader Market Size And Growth
……
26. Africa Mobile Card Reader Market
27. Mobile Card Reader Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Mobile Card Reader Market
29. Mobile Card Reader Market Future Outlook and Potential Analysis
30. Appendix
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