Market Research Future published a research report on “Pay-Card Reader Market Research Report- Forecast 2027” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2027.
Healthcare is marked as a highly competitive market. The study indicates that accepting credit or debit card and other electronic payment can make a substantial difference in medical and dental practices. The payment data security is very important in healthcare industry. The healthcare industry is facing numerous challenges such as insurance reimbursement, increase in patient responsibility, and the growing presence of data breaches, the healthcare industry is facing several challenges and adversely affect the consumers revenue and reputation.
The global Pay-Card Reader market, by geography, is segmented into North America, Europe, Asia Pacific, and Rest of the World. As compared to other regions, the pay-card reader market in North America is expected to witness a significant growth and hold the largest market share during the forecast period. U.S and Canada are anticipated to drive the growth of the North American pay-card reader market owing to the presence of large number of established key players. North America also has a well-established infrastructure, which allows higher penetration of devices and ultimately provides better connectivity. Other factors such as the presence of major technology players, high disposable income of people and high rate of cybercrimes taking place.
In the global Pay-Card Reader Market, Asia Pacific is anticipated to witness a relatively faster adoption at the highest CAGR during the forecast period as compared to other regions owing to the increased growth of telecommunication and IT infrastructure, emerging economies and technological advancement in pay-card reader in the region.
The global pay-card reader market is projected to reach USD 73 billion at a CAGR of over 44% by the end of the forecast period 2016-2022.
Taste the market data and market information presented through more than 30 market data tables and figures spread over 100 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “pay-card reader Market Research Report-Forecast to 2023”.
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The key market players functioning in the global market as identified by MRFR are Gemalto (Netherlands), Paypal Inc, Intuit Inc. (U.S.), Square, Inc., Payanywhere Llc (U.S.), First Data Corporation (U.S.), CPI Card Group Inc. (U.S.), Paynear One Solutions (India), Infineon Technologies Ag (Germany), Mahindra Comviva (India) And Others.
The Pay-Card Reader market is segmented by technology and application. By technology, the market is sub-segmented into Europay MasterCard Visa (EMV) Chip, near field communication technology and QR codes. By application, the market is segmented into healthcare, hospitality, retail, entertainment, transportation, and consumer utility services.
The geographical analysis of the global market has been analyzed in four major regions, including the Asia Pacific, North America, Europe, Latin America, the Middle East, and Africa.
The Pay-Card Reader market in North America is poised to witness significant growth and account the largest market share over the assessment period. U.S and Canada are anticipated to fuel the growth of the North American Pay-Card Reader market owing to the presence of a large number of established key players. North America also has a well-established infrastructure, which enables higher penetration of devices and ultimately provides enhanced connectivity. Other factors such as the high contentration of major technology giants, the high disposable income of consumers, and the top rate of cybercrimes taking place.
In the global Pay-Card Reader market, Asia Pacific is poised to witness a relatively faster adoption at the fastest CAGR during the review period as compared to other regions owing to the increased growth of telecommunication and IT infrastructure, emerging economies, and technological advancement in the Pay-Card Reader in the region.
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