EMV POS Terminals Market, 55% of Growth to Originate from APAC, Technavio

NEW YORK, June 3, 2024 /PRNewswire/ -- The global EMV POS terminals market size is estimated to grow by USD 6.40 billion from 2024 to 2028, according to Technavio. The market is estimated to grow at a CAGR of 10.22% during the forecast period.

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Region Outlook

1. APAC
2. North America
3. Europe
4. South America
5. Middle East and Africa

1. APAC - APAC is estimated to contribute 55%. to the growth of the global market. The EMV POS Terminals Market report forecasts market growth by revenue at global, regional & country levels from 2017 to 2027.  In the geographic landscape of the EMV POS Terminals market, APAC emerges as a highly attractive region due to its rapid expansion and significant growth potential.

The burgeoning e-commerce sectors and increasing online reservations in the region necessitate secure and convenient payment methods. EMV POS Terminals, with their chip cards and contactless payment options, offer a more secure alternative to traditional payment transactions, especially for sensitive information involved in e-commerce transactions. The widespread use of smartphones and mobile devices further boosts the market's growth, as mobile wallet technology and digital payments gain popularity.

However, challenges such as fraudulent transactions, compatibility issues, and cybersecurity risks persist, necessitating continuous innovation and regulatory changes. EMV technology, initially developed by Europay, Mastercard, and Visa, continues to be a cornerstone of secure payment solutions, with microchips and transaction codes playing crucial roles in preventing fraudsters from cloning sensitive card data and assuming fraud liability. Portable countertops and pin pads, along with MPOS solutions, offer flexibility and convenience for merchants, making EMV POS Terminals an indispensable tool in today's digital economy.

The APAC market holds significant potential for EMV POS terminals due to the increasing number of retail outlets, importance placed on information management, and demand for secure shopping experiences. Key contributors to market growth include China, India, and the presence of unorganized retailers.

Factors such as rising consumer purchasing power, large consumer base, and increased sales of debit/credit cards also drive demand. FDI in developing regions and government initiatives have further boosted market expansion. Despite the decline in demand due to the COVID-19 pandemic and the rise of digital transaction systems, the market is expected to recover with the resumption of normal operations.

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Segmentation Overview

1. End-user 
• 1.1 Retail
• 1.2 Hospitality
2. Product 
• 2.1 Conventional EMV POS terminals
• 2.2 Mobile card readers
3. Geography 
• 3.1 APAC
• 3.2 North America
• 3.3 Europe
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Fastest growing segment:

The retail industry's shift towards secure payment solutions, driven by foreign investments, competition, and global economic growth, has led to the widespread adoption of EMV POS terminals. These terminals, which support contactless NFC technology and are available as both mobile and fixed options, offer faster check-out times and enhanced security features.

EMV POS terminals collect customer data, enabling retailers to provide better services and compete effectively. Key benefits include inventory management, competitive pricing, in-store promotions, reduced overheads, and cross-selling opportunities. The demand for EMV POS terminals is expected to grow significantly due to their advanced capabilities and integration into global retail networks.

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Research Analysis

The EMV POS Terminals Market refers to the industry that provides Point-of-Sale (POS) systems equipped with Europay, Mastercard, and Visa (EMV) technology. These terminals utilize microchips in chip cards for enhanced security benefits, such as transaction code authentication and PIN pad verification. The retail sector, including Healthcare, Entertainment, and Transportation industries, has significantly adopted EMV POS terminals to mitigate fraud risks and cybersecurity threats.

NFC technology integration in EMV POS terminals offers portability and contactless transaction information processing. Despite these security advantages, fraudsters continue to explore new ways to clone sensitive card data, necessitating ongoing efforts to improve EMV POS terminal security. Smart POS terminals with advanced authentication mechanisms are a promising solution to address these challenges.

Market Overview

The EMV POS Terminals Market refers to the industry that provides Electronic Money and Value (EMV) technology-enabled Point of Sale (POS) terminals for processing card transactions. These terminals use secure chip technology to ensure the safety and authenticity of card data during transactions. The market is driven by the increasing adoption of contactless payments and the need for secure and efficient payment solutions.

The market also caters to various sectors such as retail, hospitality, healthcare, and others. The terminals offer features like contactless payments, NFC technology, and mobile connectivity, making them versatile and convenient for businesses and consumers alike. The market is expected to grow significantly due to the increasing shift towards digital payments and the need for secure and advanced payment solutions.

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Key Topics Covered:

 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 Drivers, Challenges, and Trends
10 Venodr Landscape
11 Vendor Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses 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.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio