Multi-Billion Dollar Point-of-sale Market Expected High Growth Rate for Electronic Payment Industry Over Next Few Years
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Growth opportunities like those described below may be why institutions have pushed their ownership percentage up to 73.50%.
MarketNewsUpdates.com
08:30 ET
PALM BEACH, Florida, August 16, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
As wireless internet and connectivity continue to influence daily transactions, especially in the area of point-of-sale (POS) systems, the opportunities for growth and strengthened revenues grow alongside it. According to a report issued by Research and Markets, the global contactless point-of-sale industry will experience a CAGR north of 23% over the next four years. The market was already valued north of $6 billion at the end of 2017. The market is expected to reach $15 Billion USD by the end of 2023, growing at a CAGR of 15.7% between 2017 and 2023.As technologies like the Internet of Things (IoT) and NFC become more prevalent in POS platforms through devices like smartwatches and wallets, industry leaders are creating innovative offerings to businesses to adequately capture the rising demand. Additionally, market growth figures to be driven strongly by increased competition from other non-traditional forms of payment evolving from other advanced technologies. Active tech companies in the markets this week include Gopher Protocol Inc. (OTC: GOPH), Pitney Bowes Inc. (NYSE: PBI), USA Technologies Inc. (NASDAQ: USAT), VeriFone Systems Inc. (NYSE: PAY), NCR Corporation (NYSE: NCR).
