Published on : Feb 20, 2017
Albany, New York, February 20, 2017: The vast portfolio of Market Research Hub’s research offerings has been recently updated by the addition of a new market research study, titled as “Global EMV POS Terminals Market 2017-2021”.The main objective of this study is to provide a detailed analysis of the global market current scenario along with its future growth predictions. With its extensive five-year forecast period 2017 to 2021, the study delivers additional information such as market opportunities, key drivers and factors influencing the growth of the market. According to the research analyst predictions, the global EMV point of sale terminals market is expected to grow at a CAGR of 9.9% during the period 2017-2021.
Geographically, the report segments the market into several major regions such as the Americas, EMEA and APAC. For the following key regions, market size and forecast has also been measured in this study. This is mainly considered by the total sales of EMV POS terminals (fixed line and mobile) across all the sectors such as retail and hospitality. It is well known that today's payment industry is ever-changing and with the increased penetration of contactless payments by consumers, payment gateways and network providers are adopting payment mechanisms involving cards which have become a key trend for market growth.
In the initial section, the report briefly introduces EMV POS terminals along with its scope and detailed market overview. EMV, also referred to as Europay, MasterCard and Visa, is basically the process of operation for integrated circuit cards (IC cards) and IC-capable POS stations. Operating as a joint effort between MasterCard, Visa and Europay, this innovative technology was created to provide user security and global usage for Visa and MasterCard owners. In the recent years, due to the increasing fraudulent activities, the U.S. shifted the liability of fraud to the merchants in case they do not have EMV POS terminal.
In terms of geography, the majority of the developed and developing nations have migrated or upgraded their payment cards and POS terminals to be EMV compliant. Currently, the APAC region holds the maximum market share and is expected to continue its dominance in the coming years. One of the major reasons for the growth in this region is the rising number of retail outlets. Moreover, the report segments the market on the basis of product and end users. By product, it is categorized into-
- Mobile EMV POS
- Fixed EMV POS
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Moving further, the report also covers details of some of the major market trends as well as challenges that will be helpful for the market vendors to enhance their services. At present, leading vendors operating in the market are as follows:
- SZZT Technology
- PAX Technology
Other prominent vendors available in the market are ATOS Worldline, Equinox, Keycorp, Spire Payments, CyberNet, First Data and NCR.
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