Mobile Card Reader Market Trends, Analysis & Forecast, 2032

Mobile Card Reader Market is projected to cross USD 65 Bn by 2032, owing to the increasing adoption of mobile card readers in the entertainment industry. Besides, product benefits such as a safe and secure way to accept payments, higher value transactions, a faster way to pay, and flexibility are anticipated to amplify its deployment further.

Ongoing digitization and the increasing adoption of cashless transactions in the entertainment industry will also offer lucrative growth opportunities to the market. As per reliable estimates, cashless payments for amusement parks are approximately 63% faster than cash transactions, and relatively 53% faster than classic credit card transactions.

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Considering the solution, the software segment is slated to witness growth through 2032 owing to the mounting adoption of advanced mobile card reader software products. Sturdy billing, fast accounting, and accurate inventory management are among the key benefits anticipated to boost product installation.

Based on deployment, the cloud-based mobile card reader segment is projected to witness rapid growth from 2023 to 2032. This can be ascribed to the rising adoption of cloud computing services across different industry verticals. Besides, cloud-based mobile card readers assist in employing IT resources effectively, minimizing investments in costly infrastructure, and reducing overall data breaches.

By technology, the chip and pin segment was valued at over USD 5 billion in 2022. Chip card technology offers an added layer of security when used at a chip-enabled terminal. Besides, the rising adoption of chips and pins for storing data will play a key role in stimulating the overall segmental growth.

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Regionally, the Asia Pacific mobile card reader market is estimated to witness massive growth through 2032, owing to the rising internet penetration and increasing adoption of smartphones in the region. As per reliable reports, in 2020, the mobile internet penetration rate across the Asia Pacific countries was approximately 42%. It has been further projected that by 2025, more than 333 million people across the region will start using mobile internet for the first time, bringing the overall penetration rate to 52% of the population.

Partial chapters of report table of contents (TOC):

Chapter 2   Executive Summary

2.1    Mobile card reader industry 3600 synopsis, 2018 – 2032

2.2    Business trends

2.3    Regional trends

2.4    Solution trends

2.5    Deployment trends

2.6    Technology trends

2.7    Application trends

Chapter 3   Industry Insights

3.1    Introduction

3.2    Impact of COVID-19 pandemic

3.2.1    Global outlook

3.2.2    Impact on region

3.2.2.1   North America

3.2.2.2   Europe

3.2.2.3   Asia Pacific

3.2.2.4   Latin America

3.2.2.5   MEA

3.3    Impact of Russia-Ukraine war

3.4    Industry ecosystem analysis

3.4.1    Raw material suppliers

3.4.2    Component suppliers

3.4.3    Manufacturers

3.4.4    Technology providers

3.4.5    Service providers

3.4.6    Distributors

3.4.7    Profit margin analysis

3.4.8    End-users (OEMs)

3.4.9    Vendor matrix

3.5    Technology & innovation landscape

3.5.1    EVM chip card technology

3.5.2    Hybrid technology

3.6    Patent landscape

3.7    Investement portfolio

3.8    Key initiative & news

3.8.1    Acquisitions & mergers

3.8.2    Partnerships & collaborations

3.8.3    Product launches

3.8.4    Government initiatives

3.9    Regulatory landscape

3.9.1    International standards

3.9.1.1   ISO/IEC 7816

3.9.1.2   Federal Information Processing Standard (FIPS) 201

3.9.1.3   Global Platform (GP)

3.9.1.4   Common Criteria (CC)

3.9.1.5   EVM

3.9.2    North America

3.9.2.1   American National Standard Institute (ANSI) Standards

3.9.2.2   The Payment Card Industry Data Security Standard (PCI DSS)

3.9.2.3   PA-DSS

3.9.3    Europe

3.9.3.1   PSD 2

3.9.3.2   EN 50178

3.9.3.3   CE Compliant

3.9.4    Asia Pacific

3.9.4.1   Waste Electrical and Electronic Equipment Directive

3.9.4.2   Singapore EZ-Link

3.9.4.3   SNI Mark for Indonesia

3.9.4.4   KC Certification, South Korea

3.9.5    Latin America

3.9.5.1   Federal Consumer Protection Law (FCPL)

3.9.5.2   UNIT ISO/ IEC 27000

3.9.6    MEA

3.9.6.1   UAE RoHS Regulations

3.9.6.2   South Africa Bureau of Standards (SABS) and the Independent Communications Authority of South Africa (ICASA)

3.10    Industry impact forces

3.10.1    Growth drivers

3.10.1.1    Growing e-commerce industry globally

3.10.1.2    Rapid adoption of contactless payments after the COVID-19 pandemic

3.10.1.3    Rising adoption of smartphones for digital payments

3.10.1.4    Surge in the deployment of advanced technologies in mobile card readers

3.10.1.5    Rising government initiatives toward secure card transactions

3.10.2    Industry pitfalls & challenges

3.10.2.1    Technical issues associated with mobile card readers

3.10.2.2    Rising concern toward the use of eco-friendly products

3.11    Growth potential analysis

3.12    Porter's analysis

3.12.1    Supplier power

3.12.2    Buyer power

3.12.3    Threat of new entrants

3.12.4    Threat of substitutes

3.12.5    Internal rivalry

3.13    PESTEL analysis

3.13.1    Political

3.13.2    Economical

3.13.3    Social

3.13.4    Technological

3.13.5    Environmental

3.13.6    Legal

About Global Market Insights:

 

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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