South America NFC POS Terminal Market
The main contributors to the overall growth of the SAM region are Brazil, Argentina and the Rest of SAM. Several SAM countries are significantly implementing different technologies to mitigate and solve numerous problems faced by the population in their respective countries. The creation of infrastructure is essential to economic growth and thus to the per capita income growth of Latin American countries. Development of infrastructure promotes productivity improvement, competition at the level among countries, domestic and international trade, which result in the country's economic development. In Latin America, infrastructural developments have led to the growth of commercial complexes, such as shopping centers, hospitals, hypermarkets, non-food retail stores, and supermarkets. These factors are anticipated to boost the growth of the NFC POS terminal market during the forecast period.
As retailers respond to customer demand for convenience, the fast-growing consumer goods market across South America is becoming more fragmented over the years. In their attempt to get the most from their food budgets, the region's shoppers are more likely to explore new retail formats, which is leading to rapid development of the channel structure in the area. The number of supermarkets in the area has increased over the past few years, along with the adoption of advanced solutions, such as electronic shelves and NFC POS systems. Although NFC POS systems are already commonly used by retail stores in Europe, the US, and China, it is expected that systems would also be implemented gradually in Southeast Asia and South America. Therefore, rising number of year-on-year retail stores and the advent of advanced technologies are expected to improve the adoption of NFC POS systems in the coming years
Brazil has the highest number of cases with COVID-19, followed by Ecuador, Chile, Peru, and Argentina. In order to combat the spread of the virus, all economic activities across the region were temporarily shut down. This situation of lockdown has adversely affected the retail industry across the region, thereby leading to complete shutdown of retail outlets. This has shifted consumer preference, and according to studies, this shift is also expected to prevail post-pandemic situation. This is expected to negatively affect the adoption of advanced solutions across the retail sector such as NFC POS terminals, thereby adversely impacting the market during the pandemic situation.
Strategic insights for the South America 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$ 181.1 Million |
| Market Size by 2027 | US$ 635.0 Million |
| Global CAGR (2020 - 2027) | 17.3% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Product Type
|
| Regions and Countries Covered | South and Central America
|
| Market leaders and key company profiles |
The geographic scope of the South America 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 SAM is expected to grow from US$ 181.1 Mn in 2019 to US$ 635.0 Mn by 2027; it is estimated to grow at a CAGR of 17.3% from 2020 to 2027. Enlargement 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, Surge 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 SAM 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 SAM 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 SAM 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 VeriFone, Inc, Fiserv, Inc, Ingenico Group
The South America NFC POS Terminal Market is valued at US$ 181.1 Million in 2019, it is projected to reach US$ 635.0 Million by 2027.
As per our report South America NFC POS Terminal Market, the market size is valued at US$ 181.1 Million in 2019, projecting it to reach US$ 635.0 Million by 2027. This translates to a CAGR of approximately 17.3% during the forecast period.
The South America 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 South America NFC POS Terminal Market report:
The South America NFC POS Terminal Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South America NFC POS Terminal Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South America NFC POS Terminal Market value chain can benefit from the information contained in a comprehensive market report.
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