Mobile Card Reader Market 2024-2028
The mobile card reader market is forecasted to grow by USD 28797.2 mn during 2023-2028, accelerating at a CAGR of 25.2% during the forecast period. The report on the mobile card reader market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increased adoption of contactless payments, growth in demand for POS terminals from end-users, and increased penetration of smartphones.
Technavio's mobile card reader market is segmented as below:
- By Application
- Chip and pin
- Near field communication
- Magnetic stripe
- By End-user
- Large enterprises
- MSMEs
- By Geographical Landscape
- North America
- APAC
- Europe
- South America
- Middle East and Africa
This study identifies the emergence of NFC-based payment technology as one of the prime reasons driving the mobile card reader market growth during the next few years. Also, rise in mobile biometrics for payment and rising government initiatives for digital payments will lead to sizable demand in the market.
The report on the mobile card reader market covers the following areas:
- Mobile Card Reader Market sizing
- Mobile Card Reader Market forecast
- Mobile Card Reader Market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading mobile card reader market vendors that include Adyen NV, Block Inc., Electronic Merchant Systems, Global Payments Inc., Ingenico Group SA, Intuit Inc., Leadway Tech, LIFE PAY, Miura Systems Ltd., Mswipe Technologies Pvt. Ltd., North American Bancard LLC, PayPal Holdings Inc., Razorpay Software Pvt. Ltd., Revolut Ltd., Shopify Inc., Stripe Inc., SumUp Inc., VeriFone Inc., Wise Payments Ltd., and Xero Ltd.. Also, the mobile card reader market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive primary and secondary research. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.