Contactless PoS Terminal Market Size, Share, Trends, Growth Report 2028

Contactless PoS Terminal Market

Contactless PoS Terminal Market Size - By Technology (Bluetooth, Wi-Fi, Infrared, and Carrier-Based), By Payment Method (Account-Based, Smart Card, Credit/Debit Card, and Stored Value), By Device (Integrated POS, PDA, mPOS, Contactless Reader, and Unattended Terminal), By End-User (Retail, Banking, Healthcare, Government, and Transportation), And By Region- Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026

Category: Technology & Media Report Format : PDF Pages: 120 Report Code: ZMR-6176 Published Date: Apr-2021 Status : Published
Market Size in 2019 Market Forecast in 2026 CAGR (in %) Base Year
USD 12.95 Billion USD 50.7 Billion    24%   2019

Contactless PoS Terminal Market

Contactless PoS Terminal Market: Industry Perspective

The Global Contactless PoS Terminal Market accrued earnings worth approximately 12.95 (USD Billion) in 2019 and is predicted to gain revenue of about 50.07 (USD Billion) by 2026, is set to record a CAGR of nearly 24% over the period from 2020 to 2026. The report offers an assessment and analysis of the Contactless PoS Terminal market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Billion).

Contactless PoS Terminal Market: Introduction

Contactless PoS terminal accepts all kinds of contactless payments including payments through contactless chip cards and NFC equipment enabled with payment authorization. The product exists at a PoS with myriad kernel applications aided through network payments. Moreover, contactless PoS terminal applications aid two transaction modes including EMV Co Standard and MSD. Furthermore, these terminal transactions accept payment through Visa, Rupay, American Express, Mastercard, and Verve. Furthermore, the contactless PoS terminal is connected as a peripheral to the Point of Sale and then business transactions are carried out.

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Contactless PoS Terminal Market: Growth Dynamics

Acceptance of new contactless payment methods and the necessity of fast cashless transactions will support market growth. The rise in the occurrence of COVID cases across the globe has increased the use of contactless financial transactions, thereby creating new horizons of growth for the contactless PoS Terminal industry. Apart from this, a prominent increase in the number of purchases and need to save time from standing in long queues will steer the expansion of the contactless PoS Terminal market over the estimated timeframe.

Furthermore, the surge in the number of smartphones and iPhones will proliferate the market size in the years to come. The need for cashless payments and convenient payment modes along with the necessity of minimizing transaction errors will propagate the expansion in the years ahead. However, huge initial product deployment costs and the slowing of bank servers are a few of the issues that can retard the industry's growth in the years ahead.

Europe To Make Lucrative Contributions Toward Overall Market Share By 2026

The expansion of the contactless PoS terminal industry in Europe over 2020-2026 is owing to a rise in the use of cashless payments through Maestro & Master cards. The rise in the credit and debit card financial deals in the countries such as France and UK will further create lucrative growth avenues for the contactless PoS Terminal industry in the continent over the upcoming years. The surge in smartphones along with their integration with reputed mobile payment applications in the continent will further drive the regional market size within the next couple of years. The rise in COVID cases has enhanced the popularity of contactless payments mode in the continent, thereby expanding the scope of business in Europe.

Contactless PoS Terminal Market: Report Scope

Report Attributes Report Details
Report Name Contactless PoS Terminal Market Report
Market Size in 2019 USD 12.95 Billion
Market Forecast in 2026 USD USD 50.07 Billion
Growth Rate CAGR of 24%
Number of Pages 120
Key Companies Covered Cisco Systems, Inc., Samsung Electronics Co. Ltd, Cegid Group, Ingenico S.A., MICROS Systems, Inc., Hewlett Packard Company, Verifone Systems Inc., NEC Corporation, Panasonic Corporation, and Toshiba Corporation.
Segments Covered By Technology, By Payment Method, By Device, and By Region
Regions Covered North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)
Base Year 2019
Historical Year 2015 to 2019
Forecast Year 2020 - 2026
Customization Scope Avail customized purchase options to meet your exact research needs. Request For Customization

Key players profiled in the study include

  • Cisco Systems, Inc.,
  • Samsung Electronics Co. Ltd,
  • Cegid Group, Ingenico S.A.,
  • MICROS Systems, Inc.,
  • Hewlett Packard Company,
  • Verifone Systems Inc.,
  • NEC Corporation,
  • Panasonic Corporation, and Toshiba Corporation.

The global Contactless PoS Terminal Market is segmented as follows:

By Technology  

By Payment Method

  • Account-Based
  • Smart Card
  • Credit/Debit Card
  • Stored Value

By Device

By End-User

  • Retail
  • Banking
  • Healthcare
  • Government
  • Transportation

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of the Middle East & Africa

Table Of Content

Methodology

FrequentlyAsked Questions

Acceptance of new contactless payment methods and necessity of fast cashless transactions will support the market growth. Rise in the occurrence of COVID cases across the globe has increased the use of contactless financial transactions, thereby creating new horizons of growth for contactless PoS Terminal industry. Apart from this, a prominent increase in number of purchases and need to save time from standing in long queues will steer the expansion of contactless PoS Terminal market over the estimated timeframe. Furthermore, surge in the number of smartphones and iPhones will proliferate the market size in the years to come. Need for cashless payments and convenient payment mode along with necessity of minimizing transaction errors will propagate the expansion in the years ahead.

According to Zion market research report, the global Contactless PoS Terminal market accrued earnings worth approximately 12.95 (USD Billion) in 2019 and is predicted to gain revenue of about 50.07 (USD Billion) by 2026, is set to record a CAGR of nearly 24% over the period from 2020 to 2026.  

European continent will contribute lucratively towards the global market size over the estimated timeline. The regional market surge can be ascribed to rise in the use of cashless payments through Maestro & Master cards. Rise in the credit and debit card financial deals in the countries such as France and UK will further create lucrative growth avenues for contactless PoS Terminal industry in the continent over the upcoming years. Surge in the smartphones along with their integration with reputed mobile payment applications in the continent will further drive the regional market size within the next couple of years. Surge in COVID cases has enhanced the popularity of contactless payments mode in the continent, thereby expanding the scope of the business in Europe.

The key market participants include Cisco Systems, Inc., Samsung Electronics Co. Ltd, Cegid Group, Ingenico S.A., MICROS Systems, Inc., Hewlett Packard Company, Verifone Systems Inc., NEC Corporation, Panasonic Corporation, and Toshiba Corporation.

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