NEW YORK , Sept. 9, 2022 /PRNewswire/ -- The "EMV POS Terminals Market by End-user (retail and hospitality) and Geography (APAC, North America , Europe , South America , and Middle East and Africa ) - Forecast and Analysis 2022-2026" report has been added to Technavio's offering. The potential growth difference for the EMV POS terminals market size between 2021 and 2026 is USD 5.02 bn . To get the exact CAGR and the Y-O-Y growth rate, Request a FREE PDF Sample Report
Market Driver: The large potential end-user base is driving the growth of the market. Currently, many MSMEs use cash-only transactions. The acceptance of EMV among MSME merchants is low, mainly due to various banking- and tax-related procedures, fees levied by banks for maintaining the current account, and the fees levied by EMV POS vendors for each transaction. However, during the forecast period, regulations imposed by governments, declining ASP of EMV POS terminals, and large-scale adoption of mPOS terminals will raise the growth potential of the EMV POS terminals market.
Market Challenge: The challenges in reaching out to MSMEs will hinder the growth of the market. MSMEs have a low transaction volume. Most MSMEs do not prefer POS terminals, mainly due to the fee charged for each transaction and the high initial cost of the device. Moreover, to evade tax, some MSMEs do not maintain accounts or issue receipts. In addition, some MSMEs in the unorganized retail and hospitality sector do not have clearances from local governments. Hence, they avoid using EMV POS terminals, which negatively affects the target sales of market vendors.
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The EMV POS terminals market report is segmented by end-user (retail and hospitality) and geography (APAC, North America , Europe , South America , and Middle East and Africa ). APAC will be the leading region with 55% of the market's growth during the forecast period. China and India are the key countries for the EMV POS terminals market in APAC.
View our FREE PDF sample report for additional insights into the contribution of all the segments, and regional opportunities in the report.
The EMV POS terminals market is fragmented, and the vendors are deploying growth strategies such as mergers and acquisitions to compete in the market. The market has well-established players that are currently adopting new technologies to gain a competitive edge. The competition in the global EMV POS terminal market is expected to intensify because of the growing number of solution providers, along with the rising mergers and acquisitions of small and medium-sized enterprises (SMEs).
Shenzhen Xinguodu Technology Co. Ltd.
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mPoS Terminals Market by End-user and Geography - Forecast and Analysis 2022-2026
Biometric POS Terminals Market by Technology and Geography - Forecast and Analysis 2021-2025
EMV POS Terminals Market Scope
Accelerate at a CAGR of 9.35%
APAC, North America, Europe, South America, and Middle East and Africa
US, Canada, China, India, and UK
Leading companies, competitive strategies, consumer engagement scope
BBPOS International Ltd, Block Inc., Bluebird Inc., Cantaloupe Inc, Cisco Systems Inc., DATECS Ltd., Diebold Nixdorf Inc., Fiserv Inc., Global Payments Inc., NCR Corp., NEC Corp., Panasonic Corp., PAX Global Technology Ltd., Shenzhen Xinguodu Technology Co. Ltd., Telepower Communication Co. Ltd., Toshiba Corp., U.S. Bancorp, UIC Payworld Inc., VeriFone Inc., and Worldline SA
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for forecast period.
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
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3.4 Market outlook: Forecast for 2021-2026
5.3 Retail - Market size and forecast 2021-2026
5.4 Hospitality - Market size and forecast 2021-2026
7.3 APAC - Market size and forecast 2021-2026
7.4 North America - Market size and forecast 2021-2026
7.5 Europe - Market size and forecast 2021-2026
7.6 South America - Market size and forecast 2021-2026
7.7 Middle East and Africa - Market size and forecast 2021-2026
7.8 US - Market size and forecast 2021-2026
7.9 China - Market size and forecast 2021-2026
7.10 India - Market size and forecast 2021-2026
7.11 Canada - Market size and forecast 2021-2026
7.12 UK - Market size and forecast 2021-2026
8.3 Impact of drivers and challenges
11.3 Currency conversion rates for US$
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