New York, NY -- (SBWIRE) -- 03/21/2016 -- The global payment industry is enormously competitive environment with IC, POS terminal, pay card reader and smart card competing for profitable high capacity business in a market. The pay card reader is a machine that has the potential to read debit and credit cards, either via a magnetic band or chip and pin technology. Pay card readers comprises of a pin that links to a mobile device via audio jack. Some of the pay card readers can also be allied wirelessly either by utilizing NFC technology or bluetooth. The pay card reader has showcased an upliftment in its growth over the past few years all across the globe and is anticipated to expand at a significant CAGR during the forecast period. It has been noticed that on-going switching to Euro pay, MasterCard and Visa and other chip based standards are escalating the market further with diffusion of smart acceptance devices growing every year. Rising awareness about the technology is likely to bolster the growth of the market from 2016-2022.

Some of the major factors driving the growth of global pay card reader include rising penetration of tablets and smartphones all across the globe. Smartphones market have observed robust growth and is anticipated to escalate at a significant pace over the next few years. Apart from this, the recent transformation from cash and cheque to electronic and mobile payments will expand the growth of global pay card reader market in future. Apart from this, favorable government policies, rising number of smartphone base as well as large number of micro and small merchants is anticipated to intensify the growth of global pay card reader market during the projected period.

Global Pay Card Reader market is segmented by: solution type, technology, applications and by region

Pay Card Reader by Solution Type

Card Reader Accessories
Integrated Card Reader Solutions

Pay Card Reader by Technology

EMV Chip And Pin
Hybrid Technology Solutions
Magnetic Stripe
Chip And Sign
Near Field Communication
Biometrics

Pay Card Reader by Applications

Healthcare
Restaurant
Retail
Warehouse/Distribution
Government and Consumer Utility Services
Transportation and Entertainment

Pay Card Reader by Region:

Asia Pacific
Europe
North America
Latin America
The Middle East & Africa

North America captured the highest share in the global Pay Card Reader market. North American market dominated the global pay card reader over the past few years followed by Europe and Asia-Pacific. Faster adoption of this technology in Asia pacific region especially in Japan, India and China over the next few years due to favorable economic conditions is expected to boost the growth of global pay card reader market during the forecast period.

The major players identified across the value chain of global Pay Card Reader market include Square Inc., PayPal Inc., Infineon Technologies AG, CPI Card Group Inc., NXP Semiconductors, First Data Corporation, and others. It has been noticed that Square Inc. captured the highest market share in the revenue terms in the global pay card reader market in 2015. Square generates around 95% of its revenue from payments and point of scale devices. The key vendors are expected to enter into various business strategies in order to expand the business portfolio and to mark their significant presence in global pay card reader market.

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The report covers exhaustive analysis on:

Pay Card Reader Market Segments
Pay Card Reader Market Dynamics
Historical Actual Market Size, 2013 - 2015
Pay Card Reader Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Pay Card Reader Market Current Trends/Issues/Challenges
Competition & Companies involved
Technology
Value Chain
Pay Card Reader Market Drivers and Restraints

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Regional analysis for Pay Card Reader Market includes

North America
Latin America
Europe
Asia Pacific & Japan
The Middle East and Africa

Report Highlights:

Shifting Industry dynamics
In-depth market segmentation
Historical, current and projected industry size Recent industry trends
Key Competition landscape
Strategies of key players and product offerings
Potential and niche segments/regions exhibiting promising growth
A neutral perspective towards market performance.

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Key points covered in the report
1) Report segments the market on the basis of types, application, products, technology, etc (as applicable)
2) The report covers geographic segmentation
North America
Europe
Asia
RoW
3) The report provides the market size and forecast for the different segments and geographies for the period of 2010 to 2020
4) The report provides company profiles of some of the leading companies operating in the market
5) The report also provides porters five forces analysis of the market.-

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