Asia Pacific NFC POS Terminal Market
The APAC market for NFC POS terminal is segmented into countries. In 2019, China led the APAC NFC POS terminal market with more than 30% revenue share, followed by Japan and South Korea. The rising use of NFC-enabled smartphones is accelerating the use of NFC POS terminals for payments in industries such as retail and healthcare in the region. The rising number of department stores and growing demand for advanced technologies with an objective to gather real-time information is also surging the market in APAC. The rising security concerns due to cyberattacks and increasing government initiative are factors contributing to the growth of APAC NFC POS terminal market in the region.
Advantages such as secure, fast, and swift transactions via NFC POS terminals have led consumers to opt for electronic payments; thus, the popularity of NFC in various countries is surging to meet the growing consumer needs. The growth in investment in the retail to adopt advanced solutions for better management of the outlets is likely to influence the growth of the market in APAC.
APAC is likely to account for the highest CAGR during the forecast period. The rising adoption of advanced technologies in retail, entertainment, and healthcare industries in countries such as China, India, Japan, South Korea drives the adoption rate of NFC POS. Companies are highly investing in mPOS to streamline their payment operations. The presence of fast-growing economics, mounting technology adoption, increasing penetration of NFC-enabled phones are among the prime factors expected to drive the growth of the NFC POS market. Because of a massive number of cases in China, the APAC region is greatly affected by the COVID-19 outbreak. The country is the most important manufacturer and industrial producer because it trades more manufacturing products than any other country in the world; it is also a world leader in many types of goods. According to the Organization for Economic Co-operation and Development (OECD), the pandemic has also affected other major economies outside China, such South Korea, India, Australia and Japan, and is experiencing downward inflation. The large presence of small and medium retailers across the region has created a huge demand for NFC POS terminals across the region. However, the sudden lockdown owing to the outbreak of the pandemic have negatively impacted the retail sector specially hypermarkets, supermarket, and specialty stores amongst others. The severe impact of covid-19 on the region has also shifted the consumer buying behaviour from offline mode to online mode. For instance, India has recorded an increase in e-commerce by 53% during the period. Thus, the shift from offline stores to online buying by the population across the region is expected to negatively impact the NFC POS terminal market across the region over the years.
Strategic insights for the Asia Pacific NFC POS Terminal provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 1042.8 Million |
| Market Size by 2027 | US$ 4240.0 Million |
| Global CAGR (2020 - 2027) | 19.5% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Product Type
|
| Regions and Countries Covered | Asia-Pacific
|
| Market leaders and key company profiles |
The geographic scope of the Asia Pacific NFC POS Terminal refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The NFC POS Terminal market in Asia Pacific is expected to grow from US$ 1042.8 Mn in 2019 to US$ 4240.0 Mn by 2027; it is estimated to grow at a CAGR of 19.5% from 2020 to 2027. Appreciation in Adoption of NFC POS Solutions in Retail Sector in developed countries has led to increase in the adoption of NFC POS Terminal. Countries with high GDP—the among others—are vigorously carrying out large-scale industrialization and infrastructure developments.
Moreover, Flourishing in Preference for NFC-Compatible Smartphones for Payment Among Global Population are further expected to bolster the market growth. This is bolstering the growth of the NFC POS terminal Market
The market for Asia Pacific NFC POS Terminal market is segmented into product type, application and country. Based on product type, the market is segmented into mobile and fixed. In 2019, the Fixed segment held the largest share Asia Pacific NFC POS Terminal market. Based on application type market is segmented into entertainment, healthcare, hospitality, retail and others.
A few major primary and secondary sources referred to for preparing this report on the Asia Pacific NFC POS Terminal Market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are market Castles Technology, VeriFone, Inc, Fiserv, Inc, NFC POS Terminal Company (MICC) Ltd., Thermocoax Group, Thermon, and SZZT Electronics Shenzhen.
The Asia Pacific NFC POS Terminal Market is valued at US$ 1042.8 Million in 2019, it is projected to reach US$ 4240.0 Million by 2027.
As per our report Asia Pacific NFC POS Terminal Market, the market size is valued at US$ 1042.8 Million in 2019, projecting it to reach US$ 4240.0 Million by 2027. This translates to a CAGR of approximately 19.5% during the forecast period.
The Asia Pacific NFC POS Terminal Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific NFC POS Terminal Market report:
The Asia Pacific NFC POS Terminal Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific NFC POS Terminal Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific NFC POS Terminal Market value chain can benefit from the information contained in a comprehensive market report.
Office No. 1011, First floor, Farena Corporate Park, Magarpatta-Mundhwa road, Pune - 411028, Maharashtra, India
US:+16467917070
sales@businessmarketinsights.com
Get Free Sample For Asia Pacific NFC POS Terminal Market
