Europe NFC POS Terminal Market is expected to reach US$ 2423.2 Mn by 2027

Fixed Segment to Dominate Europe NFC POS Terminal market during 2019–2027

According to a new market research study on “Europe NFC POS Terminal Market Forecast to 2027 – COVID-19 Impact and Regional Analysis by Product Type (Mobile and Fixed); Application (Entertainment, Healthcare, Hospitality, Retail, and Others), and Country” is expected to reach US$ 2423.2 Mn by 2027 from US$ 759.8 Mn in 2019. The market is estimated to grow at a CAGR of 15.9% from 2020 to 2027. The report provides trends prevailing in the Europe NFC POS Terminal market along with the drivers and restraints pertaining to the market growth. Escalation in Adoption of NFC POS Solutions in Retail Sector are the major factor driving the growth of the Europe NFC POS Terminal market. However, Worry Associated with Installation Cost and Transaction Limit hinder the growth of Europe 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.

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

Castles Technology, VeriFone, Inc, Fiserv, Inc, NFC POS Terminal Company (MICC) Ltd., Thermocoax Group, Thermon, and Valin are among the leading companies in the Europe NFC POS Terminal market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, Castles Technology Co., Ltd one of the leading POS provides announced it has acquired Spire Payments, one of the leading European EFTPOS terminal solutions provider.

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, and the UK 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 coronavirus 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 the MFC POS terminal market across the region.

The report segments the Europe NFC POS Terminal market as follows:

Europe NFC POS Terminal market – By Cable Type

• Fixed
• Mobile

Europe NFC POS Terminal market – By Application Type

• Retail
• Hospitality
• Entertainment
• Healthcare
• Others

Europe NFC POS Terminal market – By Country

• Germany
• UK
• France
• Italy
• Russia
• Rest of Europe