The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

Rising smartphone adoption for digital payments is likely to encourage innovation in mobile card reader manufacturing, propelling the market during the forecast period.

The global mobile card reader market is expected to grow from $10.30 billion in 2022 to $12.47 billion in 2023 at a compound annual growth rate (CAGR) of 21.1%. The global mobile card reader market size is expected to grow to $26.71 billion in 2027 at a CAGR of 21.0%.

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Global Mobile Card Reader Market Segments Include:

• By Solution: Hardware, Software
• By Technology: Chip And Pin, Magnetic Stripe, Near Field Communication (NFC)
• By Deployment: On-Premises, Cloud
• By Application: Entertainment, Retail, Healthcare, Hospitality, Restaurants, Warehouse, Other Applications
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global mobile card reader market in 2021.

Major Market Players in the mobile card reader market include Electronic Merchant Systems Inc., Ezetap Mobile Solutions Private Limited, Ingenico Group, LifePay ZAO, Mswipe Technologies Pvt. Ltd., Miura Systems Limited, PayAnywhere LLC.

Technological advancement is a crucial trend that is gaining traction in the mobile card reader market. To strengthen their market position, the important companies are progressively focusing on creating innovative products. For example, Revolut, a UK-based financial technology startup, unveiled Revolut Reader, a tiny card reader, in July 2022. This card’s distinguishing features include immediate contactless payment choices via debit and credit cards. This card is compatible with existing POS systems and contains an SDK/API solution. The company’s goal with POS systems is to provide greater flexibility to larger merchants.

The Mobile Card Reader Global Market Report 2023 provides a mobile card reader market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The mobile card reader market forecast analyzes mobile card reader market size, mobile card reader market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

A mobile card reader is a small gadget that may be attached to a phone or tablet to accept credit card payments. The device’s adaptability enables card swipe, chip card, and contactless payment operations. These are employed to expedite and simplify the payment process.

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