Global EMV POS Terminals Market 2016-2020
Market overview of EMV POS terminals
Technavio’s research analyst predicts the global EMV POS terminals market to grow at a CAGR of around 14% during the forecast period. The increased adoption of EMV cards is driving the EMV POS terminals market. According to the EMV standards, financial institutions across the globe have a deadline by which period all payment cards should be EMV compliant. The majority of the developed and developing nations have migrated or upgraded their payment cards and POS terminals to be EMV compliant.
However, the high cost of installation of these terminals is expected to deter the market growth during the forecast period. The cost of replacement or fresh installation of POS hardware increases the overall cost in the existing business models and as a result retailers tend to postpone the replacement of the older POS terminals. For instance, during 2015, a significant number of retailers in Europe used POS systems that were outdated by around five years. The process of transition from older to new POS hardware is capital intensive, time-consuming, and a complex decision for the organization to make. Moreover, the end-user will have to bear the additional cost to be compliant with the EMV standards, thereby increasing the cost of ownership.
Geographical segmentation of global EMV POS terminals market
APAC dominated the EMV POS terminals market during 2015 with many Southeast Asian countries contributing to its growth. The high significance attached to effective information management and the presence of a vast number of retail outlets in this region that use EMV POS terminals is driving the market growth. The report anticipates this region to grow at a rate of around 15% by the end of 2020.
Competitive landscape and key vendors
The competitive environment in this market is expected to intensify further due to an increase in R&D innovations and M&A during the forecast period. The market is likely to witness a growing trend of territorial acquisitions by the leading players. The key players in the market are expected to diversify their geographical presence with a focus on the APAC region during the forecast period.
The leading vendors in the market are -
- Pax Global
The other prominent vendors of the market include ATOS Worldline, CyberNet, Equinox, First Data, Keycorp, NCR, and Spire Payments.
Key questions answered in the report
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the EMV POS terminals market?
- What are the key market trends impacting the growth of the EMV POS terminals market?
- What are the challenges to market growth?
- Who are the key vendors in the EMV POS terminals market?
- What are the market opportunities and threats faced by the vendors in the EMV POS terminals market?
- Trending factors influencing the market shares of the Americas, APAC, and EMEA?
- What are the key outcomes of the five forces analysis of the EMV POS terminals market?
Technavio also offers customization on reports based on specific client requirement.