The global mobile card reader market is estimated to grow at a CAGR of over 13% during the forecast period. A mobile card reader is a data input device that reads data from a card-shaped storage medium. These electronic devices read plastic cards embedded with either a barcode, magnetic strip, computer chip or another storage medium. Owing to the increased adoption of cashless payment methods and digitalization, the market size is expected to expand during the forecast period. Increased numbers of peoples are gaining confidence in making digital payments owing to the increase in the awareness about its safety and security. Additionally, the convenience in making an online payment is aiding mobile card readers in gaining popularity. These provide better and secured payment options over conventional cash transactions; thus, these factors are projected to boost the mobile card reader market during the forecast period.
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The global mobile card reader market is segmented based on technology and application. Based on the technology, the market is segmented into chip and pin, magnetic stripe, and near field communication (NFC).The chip and PIN hold the most significant share as it ensures the strong security of the card. The demand for contactless card readers is expected to increase in the near future. These cards accept contactless payments with Android Pay, Apple Pay, and other NFC-enabled smartphones and watches. They are embedded with multiple layers of security, such as chip & PIN payments, which provide safe & secure payment transactions. Further, based on the application, the market is segmented into entertainment, retail, healthcare, hospitality, and others.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Mobile Card Reader Market – Segmentation
By Technology
- Chip and PIN
- Magnetic stripe
- Near Field Communication (NFC)
By Application
- Entertainment
- Retail
- Healthcare
- Hospitality
- Others
Global Mobile Card Reader Market – Segment by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
The Report Covers
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global mobile card reader market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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