Magnetic Stripe Readers Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET INTRODUCTION

Magnetic stripe readers that are also known as magstripe readers or magnetic card readers are the hardware devices broadly used to access, read, validate, retrieve and authenticate the information or data saved in magnetic stripes. Magnetic cards, generally plastic badges contain magnetic stripes with information encoded on their backside. Magnetic stripes are majorly used in debit cards, credit cards, loyalty or gift cards, identity cards, access cards etc.

MARKET DYNAMICS

Digitalization, requirement for prioritization along with authentication of information access among enterprises, safe monetary transactions, growing e-commerce and point of sale (POS) transactions via swipe card feature are the influential trends boosting the growth of magnetic stripe readers all over the world.

MARKET SCOPE

The "Global Magnetic Stripe Readers Market Analysis to 2031" is a specialized and in-depth study of the magnetic stripe readers market with a special focus on the global market trend analysis. The report aims to provide an overview of magnetic stripe readers market with detailed market segmentation by type, readability, application and geography. The global magnetic stripe readers market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading magnetic stripe readers market players and offers key trends and opportunities in the magnetic stripe readers market.

MARKET SEGMENTATION

The global magnetic stripe readers market is segmented on the basis of type, readability and application. On the basis of type, the market is segmented as swipe based magnetic stripe readers and insertion based magnetic stripe readers. On the basis of readability, the market is segmented as high volume magnetic stripe readers and standard volume magnetic stripe readers. On the basis of application, the market is segmented as point of sale (POS) terminals, kiosk terminals and entry/exit control systems.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global magnetic stripe readers market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The magnetic stripe readers market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.

The report analyzes factors affecting magnetic stripe readers market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the magnetic stripe readers market in these regions.

MARKET PLAYERS

The reports cover key developments in the magnetic stripe readers market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from magnetic stripe readers market are anticipated to lucrative growth opportunities in the future with the rising demand for magnetic stripe readers market. Below mentioned is the list of few companies engaged in the magnetic stripe readers market.

The report also includes the profiles of key magnetic stripe readers market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.

•   Advanced Card Systems Ltd.
  
•   Brush Industries
  
•   Elo Touch Solutions, Inc.
  
•   ID TECH
  
•   Ingenico
  
•   Jadak - A Novanta Company
  
•   MagTek Inc.
  
•   MUTEK Limited.
  
•   Neuron Electronics, Inc.
  
•   NIDEC SANKYO CORPORATION
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Magnetic Stripe Readers Report Scope