Pay Card Reader market report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, and product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the Pay Card Reader market by region.
The global pay card reader market is expected to grow at a CAGR of 44% during the forecast period (2017-2023).
Pay Card Reader Market: By Technology (Europay MasterCard Visa (EMV) Chip, near field communication technology, QR codes), By Application (Healthcare, Hospitality, Retail, Entertainment, Transportation and Consumer Utility Services) – Global Forecast till 2022
According to Statista, as of 2021 data, the United States held over ~36% of the global market share for information and communication technology (ICT). With a market share of 16%, the EU ranked second, followed by 12%, China ranked third. In addition, according to forecasts, the ICT market will reach more than US$ 6 trillion in 2021 and almost US$ 7 trillion by 2030. In today’s society, continuous growth is another reminder of how ubiquitous and crucial technology has become. Over the next few years, traditional tech spending will be driven mainly by big data and analytics, mobile, social, and cloud computing.
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This report analyzes the global primary production, consumption, and fastest-growing countries in the Information and Communications Technology(ICT) market. Also included in the report are prominent and prominent players in the global Information and Communications Technology Market (ICT).
A pay card reader is a kind of device that is mainly utilized for reading debit cards and credit cards through a pin technology and magnetic band. The pay card reader device is generally connected to the smartphones through an audio jack or also through Bluetooth or NFC technology. Government over the globe is endeavoring to enhance the mobile and web framework, and the interest to alter contactless payment system is one of the noteworthy reason augmenting the pay card reader market. The expansion in number of small scale, medium sized and large ventures is boosting the mobile payment market. The complexities related with bank systems and high exchange charges has prompted shutdown of numerous small, medium and large organizations and are anticipating implement the card based exchange or transactions. The global pay card reader market is expected to grow at a CAGR of 44% during the forecast period (2017-2023).
Technology plays an essential role in contactless payment transaction. Various technologies are used for connecting the pay card reader device along with the smartphone or any other portable devices including Bluetooth, near field communication technology, chip and sign, magnetic strip, biometrics, and QR code. All these technologies mentioned above has their own particular characteristics and is used widely in different mobile based payment procedure. EMV technology is one of the most secured technologies that is used for automated teller machines, smart card payments, and at other payment terminals. The EMV cards are also called smart card consisting of a magnetic strip which holds the data on the integrated circuits.
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Under COVID-19 Outbreak Impact Analysis: We analyzed industry trends in the context of COVID-19. We analyzed the impact of COVID-19 on the product industry chain based on the upstream and downstream markets. We analyze the impact of COVID-19 on various regions and major countries. The impact of COVID-19 on the future development of the industry is pointed out.
The Study Explore COVID 19 Outbreak Impact Analysis
The global pay card reader market is bifurcated on the basis of its application and technology. Based on its technology the market is divided into near field communication technology, Europay MasterCard Visa (EMV) Chip, and QR codes. On the basis of its application the global pay card reader market is segmented into hospitality, healthcare, retail, transportation, entertainment, consumer utility services among others.
Geographically, the global pay card reader market is divided into global regions like Europe, North America, Asia- Pacific, Middle East, LATAM, and Africa.
Some of the major players in the global pay card reader market include names like Square, Inc., Intuit Inc. (U.S.), Paypal Inc, PayAnywhere LLC (U.S.), First Data Corporation (U.S.), Paynear ONE Solutions (India), CPI Card Group Inc. (U.S.), Gemalto (Netherlands), Mahindra Comviva (India), Infineon Technologies Ag (Germany), among others.
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What is the goal of the report?
The market report presents the estimated size of the Industrial automation market at the end of the forecast period. The report also examines historical and current market sizes. During the forecast period, the report analyzes the growth rate, market size, and market valuation. The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets. The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.
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