Overview of the global EMV POS terminals market
Technavio’s market research analyst predicts the global Europay, MasterCard, and Visa (EMV) point of sale (POS) terminals market to grow steadily at a CAGR of around 10% by 2021. One of the primary drivers for this market is the rise in regulatory interventions for secure payments. Due to the increasing fraudulent activities, the US shifted the liability of fraud to the merchants in case they do not have EMV POS terminals (transactions made with chip and PIN cards). This compelled the payment gateways and network providers to adopt EMV standards, to reduce the chances of fraud. The fraud related to debit and credit cards is mostly prevalent where transactions are processed using magnetic stripe-based POS terminals. To minimize this, the EMV POS adopts a tokenization process that removes all the important information of the cardholder resulting in lower fraudulent activities. This will consequently drive the growth of the EMV POS terminals market over the next few years.
In terms of geography, APAC accounted for the maximum market share during 2016 and will continue to dominate the market for the next few years. The growing number of retail outlets in the region is the key factor responsible for the dominance of this market in the region. Also, the merchants in the region are attaching high significance to information management and also focus on offering a secure and safe shopping experience for the customers. Moreover, the increasing purchasing power of end-consumers, large potential consumer base, and the increased sales of debit/credit cards in the region, will also propel the growth of the EMV POS terminals market in this region.
Competitive landscape and
Overview of the global mobile card reader market
The global mobile card reader market is anticipated to grow rapidly and will post a CAGR of close to 54% during the forecast period. The increase in e-commerce transactions will drive the growth prospects for the global mobile card reader market in the forthcoming years. The increasing rate of penetration and adoption of mobile devices and smartphones is resulting in the shift of the e-commerce market from the website-based revenue generation model to an app-based revenue generation model. For instance, estimates by industry experts state that more than 50% of online shoppers use mobile devices for shopping and the number of mobile-based transactions will grow at more than 80% per annum. Also, benefits of e-commerce transactions such as user-friendly payment methods are ideal for both e-commerce companies and their customers. For instance, leading e-commerce retailers in India have already started adopting mobile card readers as they are highly portable and easy to use. However, in cash-based economies, the number of card transactions is minimal, which increases their dependence on plastic money, creating the need for mobile card readers.
In terms of geography, the Americas account for the maximum market share in 2016 and will continue to dominate the market for the next few years. The high rate of card fraud in the US has forced the country to adopt Europay, MasterCard, and Visa (EMV) standards and start using mobile card readers instead of traditional mPOS payment terminals.
Competitive landscape and key vendors
The global mobile card reader market is in its nascent stage of development. Some of the vendors in the market are highly focused on
Overview of the global rugged device market
The global rugged device market is anticipated to grow at a steady rate and will post a CAGR of close to 5% during the forecast period. The growing adoption of rugged electronic devices in harsh environments will drive the growth prospects for the global rugged device market in the forthcoming years. It has been observed that the work conditions in various sectors such as manufacturing, oil and gas, healthcare, and the military are extensively harsh, which is suitable for the rising demand for rugged devices. Since these sectors cannot compromise on their operations, productivity, and reliability by using consumer-grade electronic devices, they increasingly adopt and rely on rugged electronic devices. Also, it has been noted that the taxi aggregators, courier or delivery businesses, as well as the construction and manufacturing segments are increasingly using rugged smartphones. Furthermore, since the devices are exposed to high levels of tampering and rough use, the shock proofing electronic devices are designed in such a way that they can endure severe impacts.
In terms of geography, the Americas accounted for the maximum market share during 2015 and will continue to dominate the market for the next few years. One of the major factors responsible for the market’s growth in the region is the increasing demand for rugged notebooks and tablets from the US military. Additonally, the high technological integration in manufacturing, logistics and field services by the commercial and industrial segments will also lead to the growth of the market.
Competitive landscape and key vendors
The global rugged device market is highly diversified and competitive due to the presence of a large number of local and international vendors. The market competition is characterized by evolving standards, significantly changing smart technologies, and
Overview of the global pico projectors market
Market research analysts at Technavio predict that the global pico projectors market will grow steadily during the next four years and post an impressive CAGR of more than 32% by 2021. This market research analysis identifies the increasing adoption of LCOS technology as one of the primary growth factors for this market. Due to features such as the best-in-class black level effect and 120 Hz refresh rate to remove flicker effect, the recent years witnessed an increasing adoption of LCOS technology in pico projectors. Being a combination of LCD and DLP technologies, LCOS projectors use liquid crystal displays as well as the reflective nature of DLPs. As a result, they exhibit high image resolution and picture quality, which will lead to a rapid increase in their adoption in the coming years.
This market research and analysis predicts that in terms of geographical regions, North America will be the major revenue contributor to the market throughout the next four years. This is mainly due to the increased adoption of LCOS technology in pico projectors. Factors such as the growing focus towards the digitalization of the education sector, the rise in sales of smartphones and tablets, and the demand for portable and durable low-cost projection systems from end consumers, will boost the growth of the market in the next few years.
Competitive landscape and key vendors
The market is characterized by the presence of a number of pico projector manufacturers and appears to be fragmented. The growth of the market is mainly driven by the demand for embedded pico projectors, which are dependent on the sales of end-devices such as smartphones, tablets, and
Market outlook of the document scanner market
Technavio’s research analyst predicts the global document scanner market to grow at a CAGR of 14% during the forecast period. The growing need to scan large quantities of complex documents automatically will increase the demand for document scanners. The increasing use of the portable scanner that can be connected to the computing devices drives the document scanner market. Portable document scanners are in high demand for their flexibility. Many SMEs prefer portable document scanners for its cost benefits as against conventional document scanners.
The lower price of alternatives such as multi-function peripherals or printers (MFPs) can hinder the market growth for the document scanners. The growing usage of MFPs, which can perform multiple functions like printing, faxing, scanning, and photocopying is a challenge for this market.
Product segmentation of the document scanner market
The hardware segment dominated the market during 2015 with a market share of 60% in terms of revenue. However, the software segment is gaining more importance since enterprises are demanding customized workflow system in relation to document scanners. Technavio expects the software segment to contribute significantly and surpass hardware segment’s share by the end of the forecast period.
Geographical segmentation of the document scanner market
The Americas accounted for 41% of the market share during 2015 and is expected to grow at a CAGR of 14% during the forecast period. One of the key reasons was the high adoption of document scanners in different sectors such as banking, enterprise, education, and government.
Overview of the POS terminal market in Europe
Market research analysts at Technavio have predicted that the POS terminal market in Europe will grow steadily during the next four years and post a CAGR of more than 6% by 2020. This market research analysis identifies the rise in number of e-commerce transactions as one of the primary growth factors for this market. The increasing adoption of mobile devices such as smartphones and tablet computers is driving the growth of the e-commerce market. The need to remain competitive, penetrate unfamiliar markets, and meet the increasing demands from customers has induced several companies to completely replace their physical stores with digital sales channels, resulting in a rise in number of e-commerce websites and transactions. The will increase the need for adopting user-friendly payment mechanisms such as cash-on-delivery payment modes, which in turn, creates the need for mobile POS terminals.
One of the major trends that will gain traction in this market is the increased adoption of cloud-based solutions. The need for value-added services such as big data analytics, inventory management, and sales management tools have resulted in an increased demand for economical data storage solutions. This will drive the demand for cloud-based point of sale terminals that can connect to all the associated hardware and allow merchants to access information from remote locations. Though vendors have to bear the transformation costs for upgrading software with the existing in-house IT infrastructure before shifting to cloud-based solutions, the use of platforms such as software as a service (SaaS) as an alternative to physical storage, will reduce operational costs which will greatly benefit small- and medium-sized
Since the desktop PC, there has been a slew of devices that have been introduced into the market, from smartphones to laptops to tablets. One by one, these devices have revolutionized the way individuals work. They have created a more mobile workforce, creating more global businesses.