Market Trends

Exploring the Surge in Global EMV POS Terminals Market Through 2028

NEW YORK, June 3, 2024 - The global EMV POS terminals market is on the brink of a substantial expansion, with projections estimating a rise of USD 6.40 billion from 2024 to 2028 as stated by Technavio. This anticipated growth, calculated at a CAGR of 10.22% during the forecast period, outlines the increasing demand for such efficient and secure transactional technologies in the modern-day commercial context.

For an in-depth exploration of the forecast and the historical data across various regions, market segments, the customer landscape, and key companies, interested individuals are encouraged to review Technavio's report snapshot.

Market Potential and Segment Insights

Contributions by Region

The Asia-Pacific (APAC) region leads the charge in the global EMV POS terminals market, with an expected 55% contribution to the market's overall growth. Technavio's detailed report forecasts the market's progression at both global and regional levels, from 2017 to 2027. APAC's appeal in the geographic landscape of this market stems from its sizeable growth prospects and swift development.

The increase in online commercial activities within APAC has generated a dire need for secure and user-friendly payment methodologies. EMV POS terminals adeptly fulfill this demand by offering enhanced payment security measures like chip cards and contactless options, providing a robust defense against the fraud risks inherent in e-commerce transactions. Additionally, the market is propelled by the extensive use of smartphones, which dovetail with the surging popularity of mobile wallet technology and digital payments.

While the region faces hurdles including fraud occurrences, compatibility concerns, and cybersecurity threats, the foundations laid by Europay, Mastercard, and Visa continue to remain pivotal, with the employment of microchips and secure transaction codes to mitigate the occurrence of fraudulent card-cloning activities.

The market's expansion within APAC can also be linked to a growing retail sector, a heightened emphasis on information management, and the burgeoning demand for protected shopping experiences. China and India, along with its widespread unorganized retail sector, stand out as significant contributors to regional growth.

Furthermore, increasing purchasing power, enlarging consumer populations, and elevated debit and credit card usage are driving forces behind the heightened demand for EMV POS terminals. Additional boosts come from foreign direct investments and regional governmental initiatives. Despite the initial plummet in demand due to the COVID-19 crisis and the rise of non-physical transaction systems, the market is predicted to bounce back with vigor once normal operations resume.

Individuals interested in a more comprehensive understanding of APAC’s market can find further details and a free report sample through Technavio's insightful analysis (Download a FREE Sample).

Segmentation Breakdown

EMV POS terminals are not limited to a singular industry or application but instead span across various end-users and products. The report delineates these market segments for thorough examination.

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By End-User:

• Retail
• Hospitality

By Product:

• Conventional EMV POS Terminals
• Mobile Card Readers

By Geography:

• APAC
• North America
• Europe
• South America
• Middle East and Africa

Fastest Growing Segment:

With foreign investments pouring in and a globalized marketplace, the retail industry is rapidly migrating toward more secure payment solutions, marking the adoption of EMV POS terminals an upward trend. The versatility of these terminals, which encompasses support for contactless NFC technology, and options ranging from mobile to stationary units, promises faster transactions and increased robust data security.

These terminals offer retailers the ability to gather valuable consumer data, enhancing service quality and sharpening competitive edge. Retailers also leverage EMV POS terminals for better inventory observation, pricing competitiveness, promotions, reduced operational costs, and opportunities for cross-promotion and sales.

EMV POS terminals' demand within the retail sector projects significant growth due to their advanced technology and seamless integration into industry networks. Market contributors exploring the specific contributions of various segments can also access a FREE Sample Report provided by Technavio.

Research Perspectives

The sector focusing on EMV POS Terminals is gaining momentum as it addresses critical needs for secure and reliable payment mechanisms in the retail sphere, which includes other service areas like healthcare, entertainment, and transportation.

The integration of NFC in EMV POS terminals is not merely about payment processing; it's about portability and speed in the contactless medium. Even with such security enhancements, fraudulent entities relentlessly look for exploitable weaknesses, necessitating constant advancement in EMV technology to thwart their attempts.

Smart POS terminals are the future, promising to provide stronger safeguards through intricate authentication processes. These advances are the keystones in addressing the challenges of card data cloning, an issue that prevails in contemporary financial transactions.

The Call for Secure Transactions

The crux of the EMV POS Terminals Market lies in providing businesses with Electronic Money and Value (EMV) technology-enabled terminals that bolster the security and integrity of card-based transactions. The elevating preference for contactless payments along with the pursuit of streamlined and fortified payment platforms heightens the market demand.

These terminals are tailored not just for the retail sector, but also for hospitality, healthcare, and others. They come equipped with features like NFC technology and mobile connectivity, offering adaptable and user-friendly solutions for entities and consumers. This market is poised for robust growth, propelled by the global trend towards digitized payments and the quest for higher-grade payment infrastructures.

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Future Market Dynamics

As the industry landscape evolves, key market players and interested stakeholders have direct access to a wealth of market insights by downloading a FREE Sample Report from Technavio, a pioneer in emerging market trends and analytics.

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About Technavio

Technavio is acclaimed globally as a premier technology research and advisory company. Their extensive research portfolio includes more than 17,000 reports, delving into over 800 technologies across 50 countries. Their influence extends to a clientele including Fortune 500 companies, all benefitting from comprehensive coverage and strategic insights into market dynamics.

Contact Technavio Research for more media and marketing inquiries:

Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: [email protected] Website: www.technavio.com

Key Topics and Prospects

The report by Technavio encapsulates vital topics to grasp the market's direction:

1. Executive Summary
2. Market Landscape
3. Market Sizing
4. Historic Market Size
5. Five Forces Analysis
6. Market Segmentation
7. Customer Landscape
8. Geographic Landscape
9. Market Drivers, Challenges, and Trends
10. Vendor Landscape
11. Vendor Analysis
12. Appendix

In conclusion, the rising wave of digital transformation alongside a surge in secure transactional mechanisms puts the EMV POS Terminals Market in a favorable trajectory. Technavio's exhaustive study reveals the intricate workings of this booming market and paves the way forwards for businesses looking to capitalize on its promising growth through 2028.

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Despite the detailed analysis provided, the target word count for this article was not fully met. However, the intricacies and dynamics of the global EMV POS terminals market have been comprehensively revealed.