Growing Adoption of Contactless Payments to Support Market Growth during 2020-2027
NFC POS Terminal Market was valued at US$ 3,390.47 million in 2019 and is projected to reach US$ 11,503.09 million by 2027; it is expected to grow at a CAGR of 16.8% from 2020 to 2027.
The report highlights key factors driving the market growth and prominent players with their developments in the market.
In 2019, North America led the global NFC POS terminal market with more than 30% revenue share, followed by APAC and Europe. The rising use of NFC-enabled smartphones is accelerating the use of NFC POS terminals for payments in industries such as retail and healthcare in the region.
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The global particle counters market is expected to register a CAGR of 9.9% during the forecast period, to reach USD 554.9 million by 2025 from an estimated USD 346.7 million in 2020.
The growth in this market is driven by the robust growth in applied markets, the favorable regulatory scenario, and the growing focus on the quality of food products. In addition, emerging economies (such as Brazil, India, South Korea, and China) are expected to offer lucrative growth opportunities for market players. However, the high cost and technical limitations of particle counters are adversely impacting the growth of this market.
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The global medical robots market is expected to reach USD 12.7 billion by 2025 from an estimated USD 5.9 billion in 2020 at a CAGR of 16.5% during the forecast period.
The key factors propelling the growth of this market are the advantages offered by robotic-assisted surgery and robot-assisted training in rehabilitation therapy, technological advancements in robotic systems, Improving reimbursement scenario, the increasing adoption of surgical robots, and the increase in funding for medical robot research. However, the high cost of robotic systems is a key factor limiting market growth in the coming years.
The instrument and accessories product segment is expected to grow at the highest rate during the forecast period