LONDON--(BUSINESS WIRE)--Technavio has been monitoring the contactless PoS terminals market, operating under the information technology industry. The latest report on contactless PoS terminals market 2020-2024 estimates it to register an incremental growth of USD 5.54 billion, at a CAGR of almost 16% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also have to leverage on the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Bluebird Inc., Fiserv Inc., Honeywell International Inc., Ingenico Group SA, NCR Corp., Newland Payment Technology, PAX Global Technology Ltd., Spire Payments Ltd., SZZT Electronics Shenzhen Co. Ltd., and VeriFone Inc. are among some of the major market participants.
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Increasing adoption of contactless payment software has been instrumental in driving the growth of the market. However, the rising threat from substitute payment systems might hamper the market growth.
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Contactless PoS Terminals Market 2020-2024: Segmentation
Contactless PoS Terminals Market is segmented as below:
- North America
- South America
Based on geographic segmentation, over 47% of the market growth originated from APAC during the forecast period. In addition, the retail segment led the growth under the end-user segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the market size.
Contactless PoS Terminals Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The contactless PoS terminals market report covers the following areas:
- Contactless PoS Terminals Market Size
- Contactless PoS Terminals Market Trends
- Contactless PoS Terminals Market Industry Analysis
This study identifies the introduction of IoT and NFC-based contactless payment wearable devices as one of the prime reasons driving the Contactless PoS Terminals Market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Contactless PoS Terminals Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist contactless PoS terminals market growth during the next five years
- Estimation of the contactless PoS terminals market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the contactless PoS terminals market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of contactless PoS terminals market vendors
Table of Contents:
- Market ecosystem
- Market characteristics
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End-user
- Market segments
- Comparison by End-user
- Retail - Market size and forecast 2019-2024
- Hospitality - Market size and forecast 2019-2024
- Market opportunity by End-user
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers – Demand led growth
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Bluebird Inc.
- Fiserv Inc.
- Honeywell International Inc.
- Ingenico Group SA
- NCR Corp.
- Newland Payment Technology
- PAX Global Technology Ltd.
- Spire Payments Ltd.
- SZZT Electronics Shenzhen Co. Ltd.
- VeriFone Inc.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.