U.S. EMV POS Terminal Market to Expand at 20.38% CAGR between 2016 and 2020
MarketResearchReports.biz has recently announced the addition of a new study on the U.S. market for EMV POS terminals to its vast repository. The research report, titled “EMV POS Terminal Market In The US 2016-2020,” presents a holistic overview of this market on the basis of its historical and current performance.
This 55-page research study offers a detailed analysis of the U.S. EMV POS terminal market, covering factors such as the latest and upcoming market trends, growth drivers, restraints, opportunities, and challenges. It also presents insights into the future prospects of this market.
According to this report, the U.S. market for EMV POS terminals is expected to register an impressive CAGR of 20.38% between 2016 and 2020. The rising trend of plastic money is likely to increase the frequency of card transactions, which is projected to fuel the demand for EMV POS terminals significantly in the U.S. during the forecast period.
The growing uptake of contactless payment systems and the increase in government intervention on secure payment getaways are also expected to boost the U.S. EMV POS terminal market in the coming years. However, the high cost of these terminals, coupled with the lack of awareness among customers regarding them, is likely to hamper the growth of this market in the near future. Besides this, the increasing incidence of card-related frauds and the rise in e-commerce and online transactions are also anticipated to influence the market negatively over the next few years, notes the research study.
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In this report, the U.S. market for EMV POS terminals has been studied on the basis of the end user. The hospitality industry and the retail sector have been identified as the primary end users of EMV POS terminal in the U.S. In 2015 the demand for EMV POS terminals was the highest in the retail industry. This segment accounted for a share of more than 50% in the overall demand reported for EMV POS terminals in the country that year.
The increasing shift of retailers in the U.S. towards organized retailing, together with the pressure of sustaining in the competition and retaining their market share, is resulting in the rising adoption of advanced POS systems in retail stores. This factor is likely to propel the demand for EMV POS terminals in this sector over the forecast period, states the report.
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The report has also analyzed the U.S. EMV POS terminal market on the basis of its competitive landscape. By evaluating the company profiles of the major enterprises operating in this market, it determines the market hierarchy. As per the study, VeriFone Holdings Inc. and Ingenico Group are the leading manufacturers of EMV POS terminals in the U.S. Other prominent market players mentioned in this research study are Equinox Payments, SZZT, and PAX Technology.
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