South America NFC POS Terminal Market

Market Introduction

The main contributors to the overall growth of the SAM region are Brazil, Argentina and the Rest of SAM. Several SAM countries are significantly implementing different technologies to mitigate and solve numerous problems faced by the population in their respective countries. The creation of infrastructure is essential to economic growth and thus to the per capita income growth of Latin American countries. Development of infrastructure promotes productivity improvement, competition at the level among countries, domestic and international trade, which result in the country's economic development. In Latin America, infrastructural developments have led to the growth of commercial complexes, such as shopping centers, hospitals, hypermarkets, non-food retail stores, and supermarkets. These factors are anticipated to boost the growth of the NFC POS terminal market during the forecast period.

As retailers respond to customer demand for convenience, the fast-growing consumer goods market across South America is becoming more fragmented over the years. In their attempt to get the most from their food budgets, the region's shoppers are more likely to explore new retail formats, which is leading to rapid development of the channel structure in the area. The number of supermarkets in the area has increased over the past few years, along with the adoption of advanced solutions, such as electronic shelves and NFC POS systems. Although NFC POS systems are already commonly used by retail stores in Europe, the US, and China, it is expected that systems would also be implemented gradually in Southeast Asia and South America. Therefore, rising number of year-on-year retail stores and the advent of advanced technologies are expected to improve the adoption of NFC POS systems in the coming years

Brazil has the highest number of cases with COVID-19, followed by Ecuador, Chile, Peru, and Argentina. In order to combat the spread of the virus, all economic activities across the region were temporarily shut down. This situation of lockdown has adversely affected the retail industry across the region, thereby leading to complete shutdown of retail outlets. This has shifted consumer preference, and according to studies, this shift is also expected to prevail post-pandemic situation. This is expected to negatively affect the adoption of advanced solutions across the retail sector such as NFC POS terminals, thereby adversely impacting the market during the pandemic situation.

Market Overview and Dynamics

The NFC POS Terminal market in SAM is expected to grow from US$ 181.1 Mn in 2019 to US$ 635.0 Mn by 2027; it is estimated to grow at a CAGR of 17.3% from 2020 to 2027. Enlargement 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, Surge 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 SAM 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 SAM 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 SAM 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 VeriFone, Inc, Fiserv, Inc, Ingenico Group, NEC Corporation

Reasons to buy report

• To understand the SAM 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 SAM NFC POS Terminal Market
• Efficiently plan M&A and partnership deals in SAM 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 SAM NFC POS Terminal Market
• Obtain market revenue forecast for market by various segments from 2020-2027 in SAM region.

SAM NFC POS Terminal Market SEGMENTATION

SAM NFC POS Terminal Market – By Product Type

• Fixed
• Mobile

SAM NFC POS Terminal Market – By Application

• Retail
• Hospitality
• Entertainment
• Healthcare
• Others

SAM NFC POS Terminal Market, by Country

• Brazil
• Argentina
• Rest of SAM

Company Profile

• VeriFone, Inc
• Fiserv, Inc
• Ingenico Group
• NEC Corporation

South America NFC POS Terminal Market Strategic Insights

South America NFC POS Terminal Market Segmentation Analysis

South America NFC POS Terminal Market Report Highlights

South America NFC POS Terminal Report Scope

South America NFC POS Terminal Market Country and Regional Insights