Pune, India, January 17, 2018 /MRFR Press Release/- Market Research Future published a cooked research report on Pay Card Reader Market.
Healthcare is marked as a highly competitive market. The study indicates that accepting credit or debit card and other electronic payment can make a substantial difference in medical and dental practices. The payment data security is very important in healthcare industry. The healthcare industry is facing numerous challenges such as insurance reimbursement, increase in patient responsibility, and the growing presence of data breaches, the healthcare industry is facing several challenges and adversely affect the consumers revenue and reputation.
The global Pay Card Reader market, by geography, is segmented into North America, Europe, Asia Pacific, and Rest of the World. As compared to other regions, the pay card reader market in North America is expected to witness a significant growth and hold the largest market share during the forecast period. U.S and Canada are anticipated to drive the growth of the North American Pay Card Reader market owing to the presence of large number of established key players. North America also has a well-established infrastructure, which allows higher penetration of devices and ultimately provides better connectivity. Other factors such as the presence of major technology players, high disposable income of people and high rate of cybercrimes taking place.
In the global pay card reader market, Asia Pacific is anticipated to witness a relatively faster adoption at the highest CAGR during the forecast period as compared to other regions owing to the increased growth of telecommunication and IT infrastructure, emerging economies and technological advancement in pay card reader in the region.
The global Pay Card Reader market is projected to reach USD 73 billion at a CAGR of over 44% by the end of the forecast period 2016-2022.
Taste the market data and market information presented through more than 30 market data tables and figures spread over 100 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Pay Card Reader Market Research Report-Forecast to 2023”.
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Pay Card Reader Market Segmentation:
The global pay card reader market is segmented by technology and application. By technology the market is sub-segmented into Europay MasterCard Visa (EMV) Chip, near field communication technology and QR codes. By application the market is segmented into healthcare, hospitality, retail, entertainment, transportation and consumer utility services.
Some Of The Prominent Players In The Global Pay Card Reader Market: Square, Inc., Paypal Inc, Intuit Inc. (U.S.), Payanywhere Llc (U.S.), Paynear One Solutions (India), First Data Corporation (U.S.), CPI Card Group Inc. (U.S.), Infineon Technologies Ag (Germany), Gemalto (Netherlands), Mahindra Comviva (India) And Others.
Market Research Analysis:
North America is estimated to account for the largest share of the market, whereas Asia-Pacific market is projected to grow at the fastest rate during the forecast period. The North American market is witnessing rapid growth due to technological advancements and increasing demand for efficient telecom platforms across different industry verticals in this region. U.S. holds majority of the market share both in terms of revenue as well as adoption of cable in providing greater bandwidth.
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