europe payment terminal Market

The Europe payment terminal market is expected to grow from US$ 17,055.3 million in 2020 to US$ 34,437.1 million by 2028; it is estimated to grow at a CAGR of 9.4% from 2021 to 2028.

The increasing preference for electronic payments, the demand for easy cross-border transactions, and the upcoming launch of the official European Digital Identity Wallet are driving the rapid growth of digital payment demand in Europe. The most commonly used digital wallet apps in the region include ApplePay, PayPal, YooMoney, Qiwi, iDEAL, and Samsung Pay. Additionally, the European Payments Initiative (EPI) is working towards creating a pan-European payments solution that addresses essential use cases for consumers and merchants, while also formulating new European payment standards. Several factors are driving the substantial growth of the payment terminal market in Europe. These include the widespread adoption of wireless payment terminals by retailers, the increasing popularity of EuroPay, MasterCard, and Visa (EMV) cards, the growth of e-commerce transactions, the rising trend of cashless transactions, and the increasing use of wireless technology in mobile handsets and wearables.

The Europe payment terminal market is being propelled by various factors, including the rising popularity of contactless payments for mobile payment systems and increasing demand for cashless and contactless transactions. The need for digitalization has also contributed to the growth of the market, with companies looking for solutions that can help them manage employees and customers, integrate online and in-store sales, and track inventory. The adoption of payment terminals has become more prevalent in industries such as retail, healthcare, and hospitality, where digitalization has become essential. With the growth of smartphones and advancements in digital technology, the payment terminal market is expected to expand in the years to come. The increasing use of e-payment platforms and regulatory measures to ensure secure payments due to various financial fraud cases have also fueled the growth of the payment terminal market.

PAX Technology; SumUp Inc.; VeriFone, Inc.; GK Software SE; Ingenico Group S.A.; NEC Corporation; ASEE Group; NCR Corporation; MYPOS WORLD LTD; and Zettle by PayPal are among the key companies operating in the Europe payment terminal market. The report comprises secondary research work on other companies that hold a significant market share.

The market size of the Europe payment terminal has been determined by utilizing both primary and secondary sources. The research process commenced with thorough secondary research utilizing both internal and external sources to gather qualitative and quantitative data related to the Europe payment terminal market. This process also facilitated obtaining an overview and forecast for the Europe payment terminal market for all the relevant segments in the region. Additionally, multiple primary interviews were conducted with industry participants and experts to authenticate the data and gain further analytical insights into the subject matter. The participants of this research process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, who specialize in the Europe payment terminal market.