Europe NFC POS Terminal Market
Europe is characterized by solid economic and manufacturing capabilities. The main contributors to the NFC POS terminal market in Europe are France, Germany, Italy, Russia, the UK, and the Rest of Europe. Several major industries, such as machinery & equipment, retail, pulp & paper, automotive, pharmaceuticals and others, constitute the European zone.
Digitalization is gaining importance in grocery stores in the European market. Ahold Delhaize, REWE Combine, Tesco PLC, IKEA Group, Inditex, LVMH Moët Hennessy-Louis Vuitton S.A., Carrefour, and Auchan Holding SA, are some of the largest retail companies operating in Europe. The group of retail firms listed above consists of supermarkets, hypermarkets, and specialty stores. The above-mentioned retail stores are also among the region's top 25 retailers; thus, there would be a clear momentum to build advanced payment solutions across the outlets. In addition, corner shops appear to be an optimistic industry in the area for small retailers, such as mom and pop stores. Due to the growing buying potential of the masses, many new shops and retail stores are emerging in the area.
Europe's retail sector is not homogeneous; so many countries in the region are at different stages of retail growth. The mature retail markets are Germany, France, and the UK, while Turkey and Russia are still considered to be in the developing process. The UK, Germany, and France dominate over half of the Western European retail market. Moreover, in the last few years, the evolving process of retail in Russia, the Czech Republic, and Poland has witnessed the entry of numerous new retailers and, thus, their retail industry would continue to expand. Thus, the continuous rise in the retail sector coupled with the adoption of technologically advanced payment solutions is contributing to the growth of the NFC POS terminal market in the region.
As selected countries, observed a rise in the number of reported cases and subsequently attracted strict as well as longer lockdown periods or social isolation, the effect of COVID-19 varied from country to country throughout the European region. However, due to the strong healthcare system, Western European countries such as Germany, France, Russia, the United Kingdom and others have seen a comparatively modest decrease in their development activities. The retail sector in the country has been severely affected due to the outbreak of the corona virus across the region. According to the association of retailers and landlords in the London's West End, the shopping across the region was down 75% compared to last year. Europe’s consumer behavior has also experienced a shift to buying goods online and from local areas (mom and pop stores) to avoid crowd. For instance, according to studies, 46% of consumers across Europe aim to shop more locally in the long term than they did before the pandemic. This in turn is reducing the investments of the region in retail infrastructures and their technological advancements, thereby reducing the demand for any point of sale systems across the region. These factors are expected to negatively affect the growth of MFC POS terminal market across the region.
Strategic insights for the Europe 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$ 759.8 Million |
| Market Size by 2027 | US$ 2423.2 Million |
| Global CAGR (2020 - 2027) | 15.9% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Product Type
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |
The geographic scope of the Europe 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 Europe is expected to grow from US$ 759.8 Mn in 2019 to US$ 2423.2 Mn by 2027; it is estimated to grow at a CAGR of 15.9% from 2020 to 2027.Escalation 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 US among others—are vigorously carrying out large-scale industrialization and infrastructure developments.
Moreover, Increment 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 Europe 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 Europe 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 Europe 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 Castles Technology, VeriFone, Inc, Fiserv, Inc, NFC POS Terminal Company (MICC) Ltd., Thermocoax Group, Thermon, and Valin.
The Europe NFC POS Terminal Market is valued at US$ 759.8 Million in 2019, it is projected to reach US$ 2423.2 Million by 2027.
As per our report Europe NFC POS Terminal Market, the market size is valued at US$ 759.8 Million in 2019, projecting it to reach US$ 2423.2 Million by 2027. This translates to a CAGR of approximately 15.9% during the forecast period.
The Europe 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 Europe NFC POS Terminal Market report:
The Europe NFC POS Terminal Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe NFC POS Terminal Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe NFC POS Terminal Market value chain can benefit from the information contained in a comprehensive market report.
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