A recently released report by Technavio, specialists in emerging technologies market research, reveals that the Global NFC PoS Terminal market is expected to grow at a CAGR of 10.1 percent.
The report, which covers the Americas as well as the EMEA and APAC regions, indicates that the market is being driven by the various initiatives undertaken by the NFC Forum.
According to Technavio’s industry analyst, “To ensure a good relationship between vendors, the NFC Forum works with all stakeholders of the NFC ecosystem to promote the standardization of this technology. The Forum plays a vital role in driving adoption of NFC technology by end-users. It does this by ensuring that there is interoperability among the various devices and services, and by spreading awareness.”
The report also highlights that the high cost of NFC PoS terminals is hindering the growth of this market. However, with NFCs fast becoming the preferred mode of payment, this market is expected to keep growing. There is also a trend in this market of vendors offering non-payment applications as value-added services.
These are just some of the important findings presented in the report that will enable companies to fully understand the potential in this market and formulate their own strategies.
Technavio’s report, Global NFC PoS Terminal Market 2010-2014, is based on extensive research conducted with industry experts, vendors, and end-users. It examines the key trends, drivers, and challenges impacting the evolution of this market. The report also contains incisive insights and SWOT analyses regarding the key vendors in this market, including VeriFone, Ingenico, and Hypercom.