chip card reader market

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4www.marketresearchfuture.comchip card reader market Forecast To 2024Global chip card reader market Segmented on the basis ofThe chip card reader market has been segmented by type, application, and technology.By type, the market has been segmented into contactless-based, interface based, and contact-based. Thecontact-based segment of the market is expected expand at a CAGR of 40.6% during the assessmentperiod and surpass a valuation of USD 2,290.03 million by 2024. The expansion of the segment can beattributed to the large-scale application of contact-based smart card readers in credit card and debit cardtransaction system. The contactless-based segment to exceed a valuation of USD 1,673.96 Mn.By technology, the market has been segmented into Europay MasterCard Visa (EMV) Chip, Near FieldCommunication (NFC), and other. The Europay Mastercard Visa (EMV) chip segment accounted for 53.1%of the global market share. The near field communication (NFC) is likely to value at USD 24,100 Mn by2024.By application, the market has been segmented into identity management, ticketing, security & accessmanagement, payments, and others. The payment segment, due to the increase in the application ofsmart card readers in payment systems is expected to direct the growth of the market in the coming years.The identity management segment is anticipated to follow the lead.
5www.marketresearchfuture.comchip card reader market Forecast To 2024Global chip card reader market - Geographical Analysis• North America, Europe, Asia Pacific (APAC), Latin America, and the Middle East & Africa (MEA) are regionalsegments of the market. APAC to secure the leading position in the global chip card reader market. The APACmarket likely to thrive at a 42.5% CAGR across the evaluation period. The segment is set to touch a valuation ofUSD 34,100 Mn by 2024. Strong internet connectivity, increase in the adoption of cashless mode of paymenttechnologies, and the introduction of favorable policies are reasons that are expected to strengthen the baseof the regional market to grow. Emerging countries such as India, Indonesia, China, and others are likely toexhibit robust growth of the market. The North America market to expand at a CAGR of 40.7% and exceed avaluation of USD 1,485.92 million by due to the presence of multiple key players.Request a Sample Report @ https://www.marketresearchfuture.com/sample_request/7659
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