Mobile Card Reader Market Future Growth Analysis, Share, and
Forecast 2032

Mobile Card Reader Market is anticipated to grow
substantially through 2032, owing to the increasing adoption of mobile card
readers in the entertainment industry. Besides, product benefits such as a safe
and secure way to accept payments, higher value transactions, a faster way to
pay, and flexibility are anticipated to amplify its deployment further.

Ongoing digitization and the increasing adoption of cashless
transactions in the entertainment industry will also offer lucrative growth
opportunities to the market. As per reliable estimates, cashless payments for
amusement parks are approximately 63% faster than cash transactions, and
relatively 53% faster than classic credit card transactions.

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Overall, the mobile card reader market is segmented in terms
of solution, deployment, technology, application, and region.

Considering the solution, the software segment is slated to
witness growth through 2032 owing to the mounting adoption of advanced mobile
card reader software products. Sturdy billing, fast accounting, and accurate
inventory management are among the key benefits anticipated to boost product
installation.

Based on deployment, the cloud-based mobile card reader
segment is projected to witness rapid growth from 2023 to 2032. This can be
ascribed to the rising adoption of cloud computing services across different
industry verticals. Besides, cloud-based mobile card readers assist in
employing IT resources effectively, minimizing investments in costly
infrastructure, and reducing overall data breaches.

By technology, the chip and pin segment was valued at over
USD 5 billion in 2022. Chip card technology offers an added layer of security
when used at a chip-enabled terminal. Besides, the rising adoption of chips and
pins for storing data will play a key role in stimulating the overall segmental
growth.

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Considering the application, the entertainment segment is
anticipated to grow considerably through 2032. The growth can be attributed to
the mounting use of smart devices such as smart bands, smart glasses,
smartphones, etc. Besides, various cashless payment options available for
booking shows, such as credit & debit cards, net banking, UPI, and others,
and across amusement parks, casinos, and sports venues will add impetus to the
overall industry growth.

Regionally, the Asia Pacific mobile card reader market is
estimated to witness massive growth through 2032, owing to the rising internet
penetration and increasing adoption of smartphones in the region. As per
reliable reports, in 2020, the mobile internet penetration rate across the Asia
Pacific countries was approximately 42%. It has been further projected that by
2025, more than 333 million people across the region will start using mobile
internet for the first time, bringing the overall penetration rate to 52% of
the population.

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