WASHINGTON, July 06, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research's recent report study of the Global Outdoor Payment Terminals Market finds that increasing technological advancement like machine learning and artificial intelligence (AI) to provide faster financial transactions is a crucial parameter considered in the growth of the Outdoor Payment Terminals Market. Furthermore, these payment terminals support various potential benefits such as ease of convenience and less transaction time, bolstering the growth of the Outdoor Payment Terminals Market. In addition, increasing development in alternate payment methods such as payments via digital wallets is also expected to witness the high growth of the Outdoor Payment Terminals Market over the projected time frame. The Global Market revenue was valued at USD 819.5 Million in 2021.
The Global Outdoor Payment Terminals Market size is forecasted to reach USD 1236.7 Million by the year 2028 and is projected to grow to exhibit a Compound Annual Growth Rate (CAGR) of 7.1% during the forecast period; states Vantage Market Research, in a report, titled "Outdoor Payment Terminals Market Size, Share & Trends Analysis Report by Deployment modes (On-Premises, Cloud), by End-User (BFSI, IT and Telecommunications, Retail, E-Commerce), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)".
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Key Insights & Findings from the Report:
- According to our primary respondents’ research, the Outdoor Payment Terminals market is predicted to grow at a CAGR of roughly 7.1% during the forecast period.
- The Outdoor Payment Terminals market was estimated to be worth roughly USD 819.5 Million in 2021 and is expected to reach USD 1236.7 Million by 2028; based on primary research.
- On the basis of region, North America is projected to dominate the worldwide Outdoor Payment Terminals market.
Market Dynamics:
Drivers:
Increased Number of Smart Phone Users
In recent times, several changes have happened in the smartphone sector, from keypad phones to screen-touch phones. For instance, the current number of smartphone users in the world today is 6.648 billion, and this generates 83.72% of the world's population of smartphone users. In addition, the smartphone has adopted new technology, like advancements in security features. This advancement includes facial recognition, a lock screen, a fingerprint scanner, a payment system, and others. With the help of these characteristics, it is easy to make any transaction through mobile phones. In addition, an increase in smartphone users increases the use of online payments through credit cards via mobile payments, for example, PayPal, stripe, square, and Skrill Payoneer, to note a few. Thus, increased use of smartphones is expected to propel the growth of the Outdoor Payment Terminals Market in projected years.
Restrain:
Security Breaches
Computer equipment needs a person's identification, such as passwords and security questions, to confirm payment. However, these authentications do not thoroughly verify a person's title. The system doesn't care who is on the other end of the password, and answers to the security questions match. Thus, sometimes there is a chance of fraud in electronic payment systems. If someone knows our password or the answers to our security questions, they can obtain access to our money and take it. POS theft is usually done during a POS transaction in merchant stores. The salesperson copies the card data for later use after taking the customer's card for payment processing. There are several techniques to steal our personal information during an online purchase. With free public Wi-Fi in use, it is possible to monitor people's keystrokes & easily take our passwords & credit card-related information. Thus, security concern is expected to be the major obstacle to the growth of the Outdoor Payment Terminals Market.
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Segmentation of the Global Outdoor Payment Terminals Market:
- Deployment Modes
- On-Premises
- Cloud
- End-User
- BFSI
- IT & Telecommunications
- Retail
- E-Commerce
- Government
- Energy
- Utilities
- Others
- Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Read Full Research Report @ https://www.vantagemarketresearch.com/industry-report/outdoor-payment-terminals-market-1693
COVID-19 Impact Analysis:
The COVID-19 pandemic outbreak has affected various industries worldwide. Governments worldwide implemented strict lockdown measures and social distancing norms to restrict the swift spread of the pandemic. In 2020, almost all the manufacturing units worldwide were forcefully closed during the initial stages of the COVID-19. In addition, the financial crisis after the pandemic might lead to a significant delay in the commercial roll-out of the IT industry. Small and medium-scale (MSE) companies are the backbone of technology providers and are witnessing a steep drop in income since the s of the pandemic in 2020. Hence, market players faced innumerable challenges due to disruptions in the supply chain. On the other hand, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
COVID-19 Impact Analysis:
1. Impact Assessment of COVID-19 Pandemic
a. North America
b. Europe
c. Asia Pacific
d. Latin America
e. Middle East & Africa
2. Crucial Strategies Undertaken by Companies to Tackle COVID-19
3. Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
4. Long-Term Dynamics
5. Short-Term Dynamics
The Report on Outdoor Payment Terminals Market Highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historical Data, Estimates, and Forecast
- Company Profiles
- Global and Regional Dynamics
Browse market data Tables and Figures spread through 150 Pages and in-depth TOC on "Outdoor Payment Terminals Market Size, Share & Trends Analysis Report by Deployment modes (On-Premises, Cloud), by End-User (BFSI, IT and Telecommunications, Retail, E-Commerce), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)".
Regional Analysis:
North America Dominated the Global Outdoor Payment Terminals Market
North America dominated the global Outdoor Payment Terminals Market in 2021. Technological development is aided by a well-established IT industry, propelling the growth of the Outdoor Payment Terminals Market in this region. In addition, regional IT firms are combining their efforts to encourage using a contactless payment platform. Also, firms are working with several financial institutions to establish safe, transparent, decentralized, and strong platforms in response to the high risk of cyber-crime.
List of Prominent Players in the Outdoor Payment Terminals Market:
- ACI Worldwide Inc
- Fidelity Information Services Inc
- Fiserv Inc
- Master card Inc.
- PayPal Holding Inc
- Visa Inc
- Apple Inc.
- Temenos AG
- Capgemini SE
- Finastra Group Holdings Limited
Recent Developments:
February 2021: ACI and Gilbarco joined forces to provide secure, flexible, and reliable payment infrastructure for fuel, grocery, and convenience stores.
September 2020: ACI and MasterCard will begin their collaboration by offering industry-leading technology and expertise to central banks, scheme operators, and market participants to fast-track the global migration and modernization of real-time payment solutions.
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Outdoor Payment Terminals Market?
- How will the Outdoor Payment Terminals Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Outdoor Payment Terminals Market?
- What is the Outdoor Payment Terminals market drivers and restrictions?
- What will be the CAGR and size of the Outdoor Payment Terminals Market throughout the forecast period?
This market titled “Outdoor Payment Terminals Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
| Parameter | Details |
| Market Size Provided for Years | 2016-2028 |
| Base Year | 2021 |
| Historic Years | 2016-2020 |
| Forecast Years | 2022-2028 |
| Segments Covered | • Deployment Modes • On-Premises • Cloud • End-User • BFSI • IT & Telecommunications • Retail • E-Commerce • Government • Energy • Utilities • Others • Region • North America • Europe • Asia Pacific • Latin America • Middle East & Africa |
| Region & Counties Covered | • North America • U.S. • Canada • Mexico • Europe • U.K • France • Germany • Italy • Spain • Rest Of Europe • Asia Pacific • China • Japan • India • South Korea • South East Asia • Rest Of Asia Pacific • Latin America • Brazil • Argentina • Rest Of Latin America • Middle East & Africa • GCC Countries • South Africa • Rest Of Middle East & Africa |
| Companies Covered | • ACI Worldwide Inc • Fidelity Information Services Inc • Fiserv Inc • Master card Inc. • PayPal Holding Inc • Visa Inc • Apple Inc. • Temenos AG • Capgemini SE • Finastra Group Holdings Limited |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis |
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