Middle East & Africa NFC POS Terminal Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Product Type (Mobile and Fixed) and Application (Entertainment, Healthcare, Hospitality, Retail, and Others)
Market Introduction
The countries of the Middle East are financially developed countries, while the African countries fall largely behind. The development of infrastructure in the Gulf countries is huge and the growth trend in commercial infrastructure continues to increase steadily year-on-year. Due to the fact that these countries are heavily dependent on tourism, commercial infrastructure plays a major role in the economy of each country. The area is witnessing major investments in commercial development, such as supermarkets, specialty stores, and malls. Growing investment in these infrastructures would also require advanced operational management strategies across infrastructures, such as inventory management and financial management, to attract consumers and address the challenge of online competition, changing markets, and fluctuating product prices. Over the past two-three years, government participation in the diversification of revenue opportunities in the gulf countries has increased in the wake of dipping oil prices. One of the key reasons for growth in vertical infrastructure is the development of malls, hypermarkets, and specialty stores, in the major cities of the gulf countries. In addition, the population in the area is focusing on starting with various business verticals in order to raise its annual revenue. In Saudi Arabia, a range of positive government policies have given the retail sector a much-needed boost for growth, such as a robust budget and economic diversification, as well as increased number of women in the workforce, rise of digital-savvy younger generation, higher disposable incomes, and a drive toward omnichannel retail strategies. Thus, this kind of initiatives in the region are anticipated to propel the adoption of NFC POS systems across the retail industry of the country.
In addition, Africa is experiencing elevated infrastructural development. Rising disposable income in the African continent's developing countries would contribute to increasing infrastructure, opening up infrastructure growth opportunities and, in turn, encouraging more NFC POS facilities on commercial properties. The growth of the MEA market can be attributed to rapid adoption of smart devices and increase in development of infrastructure in both the Middle East and African countries. The growth of NFC POS systems across the region would also be stimulated by the construction of smart cities in the Middle East region.
The other major countries facing the economic consequences of COVID-19 in the Middle East and African region are Saudi Arabia, the UAE, Egypt, Morocco, and Kuwait. With the COVID-19 pandemic spreading through the countries mentioned above, it is becoming clear that few can escape its impact, presenting major challenges for all sectors. According to studies, the GCC countries have experienced a hike of 500% of online sales due to covid-19. During the coronavirus pandemic, the e-commerce market emerged as one of the resilient industries in the region. People have been avoiding public locations, including supermarkets, since the onset of the health crisis, and making their purchases online instead. This shift in online sales is thus expected to negatively affect the NFC POS terminal market in the region over the forecast period.
Get more information on this report :
Market Overview and Dynamics
The NFC POS Terminal market in MEA is expected to grow from US$ 261.4 Mn in 2019 to US$ 980.1 Mn by 2027; it is estimated to grow at a CAGR of 18.3% from 2020 to 2027.Boom 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, Increment 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
Key Market Segments
The market for MEA 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 MEA NFC POS Terminal market. Based on application type market is segmented into entertainment, healthcare, hospitality, retail and others.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the MEA 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 Castles Technology, VeriFone, Inc, Fiserv, Inc, Ingenico Group, NEC Corporation
Reasons to buy report
- To understand the MEA NFC POS Terminal Market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for MEA NFC POS Terminal Market
- Efficiently plan M&A and partnership deals in MEA NFC POS Terminal Market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form MEA NFC POS Terminal Market
- Obtain market revenue forecast for market by various segments from 2020-2027 in MEA region.
MEA NFC POS Terminal Market SEGMENTATION
MEA NFC POS Terminal Market – By Product Type
- Fixed
- Mobile
MEA NFC POS Terminal Market – By Application
- Retail
- Hospitality
- Entertainment
- Healthcare
- Others
MEA NFC POS Terminal Market, by Country
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
Company Profile
- Castles Technology
- VeriFone, Inc
- Fiserv, Inc
- Ingenico Group
- NEC Corporation
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 MEA NFC POS Terminal Market – By Product Type
1.3.2 MEA NFC POS Terminal Market – By Application
1.3.3 MEA NFC POS Terminal Market – By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. MEA NFC POS Terminal Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 MEA
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. MEA NFC POS Terminal Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Boom in Adoption of NFC POS Solutions in Retail Sector
5.1.2 Growth in Preference for NFC-Compatible Smartphones for Payment Among Population
5.2 Market Restraints
5.2.1 Concerns Associated with Installation Cost and Transaction Limit
5.3 Market Opportunities
5.3.1 Escalation in Adoption of Contactless Payment
5.4 Future Trends
5.4.1 Rise in Mobile Payments Worldwide
5.5 Impact Analysis of Drivers and Restraints
6. NFC POS Terminal market –MEA Analysis
6.1 NFC POS Terminal market MEA Overview
6.2 MEA NFC POS Terminal market – Revenue and Forecast to 2027 (US$ Million)
6.3 Market Positioning – Five Key Players
7. MEA NFC POS Terminal Market Analysis – By Product Type
7.1 Overview
7.2 MEA NFC POS Terminal market Breakdown, by Product Type, 2019 & 2027
7.3 Mobile
7.3.1 Overview
7.3.2 Mobile: MEA NFC POS Terminal Market – Revenue and Forecast to 2027 (US$ Million)
7.4 Fixed
7.4.1 Overview
7.4.2 Fixed: MEA NFC POS Terminal Market – Revenue and Forecast to 2027 (US$ Million)
8. MEA NFC POS Terminal Market Analysis – By Application
8.1 Overview
8.2 MEA NFC POS Terminal Market, by Application (2019 and 2027)
8.3 Entertainment
8.3.1 Overview
8.3.2 Entertainment: MEA NFC POS Terminal Market – Revenue and Forecast to 2027 (US$ Million)
8.4 Healthcare
8.4.1 Overview
8.4.2 Healthcare: MEA NFC POS Terminal Market – Revenue and Forecast to 2027 (US$ Million)
8.5 Hospitality
8.5.1 Overview
8.5.2 Hospitality: MEA NFC POS Terminal Market – Revenue and Forecast to 2027 (US$ Million)
8.6 Retail
8.6.1 Overview
8.6.2 Retail: MEA NFC POS Terminal Market – Revenue and Forecast to 2027 (US$ Million)
8.7 Others
8.7.1 Overview
8.7.2 Others: MEA NFC POS Terminal Market – Revenue and Forecast to 2027 (US$ Million)
9. MEA NFC POS Terminal Market –Country Analysis
9.1 Overview
9.1.1 MEA: NFC POS Terminal Market – Revenue and Forecast to 2027 (US$ Million)
9.1.2 MEA: NFC POS Terminal Market, by Product Type
9.1.3 MEA: NFC POS Terminal Market, by Application
9.1.4 MEA: NFC POS Terminal Market, by Key Country
9.1.4.1 South Africa: NFC POS Terminal Market – Revenue and Forecast to 2027 (US$ Million)
9.1.4.1.1 South Africa: NFC POS Terminal Market, by Product Type
9.1.4.1.2 South Africa: NFC POS Terminal Market, by Application
9.1.4.2 Saudi Arabia: NFC POS Terminal Market – Revenue and Forecast to 2027 (US$ Million)
9.1.4.2.1 Saudi Arabia: NFC POS Terminal Market, by Product Type
9.1.4.2.2 Saudi Arabia: NFC POS Terminal Market, by Application
9.1.4.3 UAE: NFC POS Terminal Market – Revenue and Forecast to 2027 (US$ Million)
9.1.4.3.1 UAE: NFC POS Terminal Market, by Product Type
9.1.4.3.2 UAE: NFC POS Terminal Market, by Application
9.1.4.4 Rest of MEA: NFC POS Terminal Market – Revenue and Forecast to 2027 (US$ Million)
9.1.4.4.1 Rest of MEA: NFC POS Terminal Market, by Product Type
9.1.4.4.2 Rest of MEA: NFC POS Terminal Market, by Application
10. Impact of COVID-19 Pandemic on MEA NFC POS Terminal Market
10.1 Middle East and Africa: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 Merger and Acquisition
12. Company Profiles
12.1 Castles Technology Co., Ltd
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 VeriFone, Inc.
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Ingenico Group S.A.
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 NEC Corporation
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. MEA NFC POS Terminal market – Revenue and Forecast to 2027 (US$ Million)
Table 2. MEA: NFC POS Terminal Market, by Product Type – Revenue and Forecast to 2027 (US$ Million)
Table 3. MEA: NFC POS Terminal Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 4. South Africa: NFC POS Terminal Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 5. Saudi Arabia: NFC POS Terminal Market, by Product Type –Revenue and Forecast to 2027 (US$ Million)
Table 6. Saudi Arabia: NFC POS Terminal Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 7. UAE: NFC POS Terminal Market, by Product Type –Revenue and Forecast to 2027 (US$ Million)
Table 8. UAE: NFC POS Terminal Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 9. Rest of MEA: NFC POS Terminal Market, by Product Type –Revenue and Forecast to 2027 (US$ Million)
Table 10. Rest of MEA: NFC POS Terminal Market, by Application –Revenue and Forecast to 2027 (US$ Million)
LIST OF FIGURES
Figure 1. MEA NFC POS Terminal Market Segmentation
Figure 2. MEA NFC POS Terminal Market Segmentation – By Country
Figure 3. MEA NFC POS Terminal Market Overview
Figure 4. MEA NFC POS Terminal Market by Product Type
Figure 5. MEA NFC POS Terminal Market by Application
Figure 6. MEA NFC POS Terminal Market by Country
Figure 7. MEA: PEST Analysis
Figure 8. NFC POS Terminal market Ecosystem Analysis
Figure 9. MEA NFC POS Terminal market Expert Opinion
Figure 10. MEA NFC POS Terminal Market Impact Analysis of Drivers and Restraints
Figure 11. MEA NFC POS Terminal market – Revenue and Forecast to 2027 (US$ Million)
Figure 12. MEA NFC POS Terminal market Breakdown, by Product Type (2019 and 2027)
Figure 13. Mobile: MEA NFC POS Terminal Market – Revenue and Forecast to 2027 (US$ Million)
Figure 14. Fixed: MEA NFC POS Terminal Market – Revenue and Forecast to 2027 (US$ Million)
Figure 15. MEA NFC POS Terminal Market Revenue Share, by Application (2019 and 2027)
Figure 16. Entertainment: MEA NFC POS Terminal – Revenue and Forecast to 2027 (US$ Million)
Figure 17. Healthcare: MEA NFC POS Terminal Market – Revenue and Forecast to 2027 (US$ Million)
Figure 18. Hospitality: MEA NFC POS Terminal Market – Revenue and Forecast to 2027 (US$ Million)
Figure 19. Retail: MEA NFC POS Terminal Market – Revenue and Forecast to 2027 (US$ Million)
Figure 20. Others: MEA NFC POS Terminal Market – Revenue and Forecast to 2027 (US$ Million)
Figure 21. MEA: NFC POS Terminal Market by Key Country – Revenue (2019) (USD Million)
Figure 22. MEA: NFC POS Terminal Market – Revenue and Forecast to 2027 (US$ Million)
Figure 23. MEA: NFC POS Terminal Market Revenue Share, by Product Type (2019 and 2027)
Figure 24. MEA: NFC POS Terminal Market Revenue Share, by Application (2019 and 2027)
Figure 25. MEA: NFC POS Terminal Market Revenue Share, by Key Country (2019 and 2027)
Figure 26. South Africa: NFC POS Terminal Market – Revenue and Forecast to 2027 (US$ Million)
Figure 27. Saudi Arabia: NFC POS Terminal Market – Revenue and Forecast to 2027 (US$ Million)
Figure 28. UAE: NFC POS Terminal Market – Revenue and Forecast to 2027 (US$ Million)
Figure 29. Rest of MEA: NFC POS Terminal Market – Revenue and Forecast to 2027 (US$ Million)
Figure 30. Impact of COVID-19 Pandemic in Middle East and Africa Country Markets
- Castles Technology
- VeriFone, Inc
- Fiserv, Inc
- Ingenico Group
- NEC Corporation
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the MEA NFC POS Terminal market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the MEA NFC POS Terminal market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth MEA market trends and outlook coupled with the factors driving the NFC POS Terminal market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution