Global Contactless Payments Market Size, Share, Growth, Global Trends, Industry Analysis and Forecast to 2027

Price: 3600/- USD | Published Date: May 1, 2020 |


The global contactless payment market size was valued at more than USD 8 billion in 2019 and expected to grow at a significant CAGR of 15% during the forecast period 2020 to 2027. The demand for contactless payments is increasing significantly due to increased integration in mobile devices and smartphones. Increasing adaptation in contactless technology contributes the market growth. Around 50% of transactions in Europe are contactless. Contactless payment is effectively adopted in various factors such as transportation, supermarkets, shopping centers, BFSI, and other sectors.

The market is segmented on the basis of device, solution, application, and region. By device, the market is further segmented into smartphones & wearables, PoS terminals, and smart cards. PoS terminal segment held a major share of around 60% due to high deployment in the retail sector across the globe. By application, the retail sector held the largest share with more than 60% in 2019 due to increased adaptation of contactless payment in order to reduce the payment time.

The report provides both, qualitative and quantitative analyses of the market, the competitive landscape, and the preferred development strategies of key players which help to formulate competitive market strategies and make informed decisions. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market, and expert opinion obtained from interviews with industry executives and experts from prominent companies.

The report on the contactless payments market offers in-depth analysis covering key regional trends, market dynamics, and provides country-level market size of the contactless payments industry. Some of the key factors considered during the course of research included product definition, product classification, industry structure, various participants in the contactless payments ecosystem, etc. The report includes market sizes and forecast for the period from 2018 to 2027, and compounded annual growth rate (CAGR%) measured for individual segments and regional markets, competitive landscape of leading market players, critical analysis of market dynamics and profiling of key providers participating in the contactless payments market.

According to Research Corridor, this study will provide in-depth analysis of segments on the basis of current trends, market dynamics and country level analysis of contactless payments industry. This report provides market estimates and forecast for the period 2018-2027, along with respective CAGRs for each segment and regional distribution for the period 2020-2027. In depth analysis of competitive landscape, porter's five forces model, value chain analysis, and pricing strategies are also covered in the report scope.

Historical & Forecast Period

  • 2018 - Historical Year for contactless payments Market
  • 2019 - Base Year for contactless payments Market
  • 2020-2027 - Forecast Period for contactless payments Market

The contactless payments market report offers a primary overview of the contactless payments industry covering different product definitions, classifications, and participants in the industry chain structure. The quantitative and qualitative analysis is provided for the global market considering competitive landscape, development trends, and key critical success factors (CSFs) prevailing in the contactless payments industry.

Contactless Payments Market Segmentation:

By Device:

  • Smartphones and wearables
  • PoS terminals
  • Smart cards

By Solution:

  • Payment Terminal Solution
  • Transaction Management
  • Security and Fraud Management
  • Hosted Point-of-Sale
  • Analytics

By Application:

  • BFSI
  • Retail
  • Transportation
  • Healthcare
  • Hospitality
  • Government

List of Key Companies:

  • Gemalto
  • Visa Inc.
  • Giesecke & Devrient GmbH
  • Heartland Payment Systems
  • Verifone
  • Ingenico Group SA
  • On Track Innovations Ltd.

Contactless Payments Market Report Scope

This report provides an investigative analysis of the contactless payments market encapsulated in detailed sections such as

  • Research Methodology
  • Research Scope
  • Executive Market Summary: Industry Snapshot
  • Industry Outlook
  • Critical Success Factors (CSFs) for the Market
  • Market Dynamics
  • Key Opportunities
  • Market Porters Five Force Analysis
  • Market Value Chain/Ecosystem Analysis
  • Market Attractive Investment Proposition
  • Market PESTEL Analysis
  • Market Positioning of Key Vendors
  • Market Segmentation Outlook
  • Regional Outlook
  • Company Profiles of Key Vendors

COVID-19 Impact on the Contactless Payments Market

The novel COVID-19 epidemic has affected the development of an array of industrial areas, technology sector, food & beverage industry, healthcare, and other sectors is no doubt. Instability of production and Supply chain interruption are some of the factor that is influencing the expansion of the contactless payments market.

  • V Shaped Recovery
  • U Shaped Recovery
  • L Shaped Recovery
  • W Shaped Recovery
COVID-19 Impact on the Contactless Payments Market

COVID-19 Impact on the Contactless Payments Market - L Shaped Recovery

Geographic Coverage

Geographically, the contactless payments Market report comprises dedicated sections centering on the regional market revenue and trends. The contactless payments market has been segmented on the basis of geographic regions into North America, Europe, Asia Pacific and Rest of the World (RoW). The RoW segment consists Latin America and the Middle East & Africa. The contactless payments market has been extensively analyzed on the basis of various regional factors such as demographics, gross domestic product (GDP), inflation rate, acceptance and others. contactless payments Market estimates have also been provided for the historical years 2017 & 2018 along with forecast for the period from 2018 - 2027.

  • North America contactless payments Market Revenue and Forecast
  • Europe contactless payments Market Revenue and Forecast
  • Asia Pacific contactless payments Market Revenue and Forecast
  • Latin America contactless payments Market Revenue and Forecast
  • Middle East and Africa contactless payments Market Revenue and Forecast

Key Questions Answered by Contactless Payments Market Report

  • Market size and forecast of the contactless payments market for the period from 2018 to 2027
  • Compounded annual growth rate (CAGR%) for individual segments in various regional markets through 2025
  • Value chain analysis
  • Market share analysis combined with competitive landscape of key players
  • Profiles of key market players covering overall business operations, geographic presence, product portfolio, financial status and news coverage
The global contactless payment market size was valued at more than USD 8 billion in 2019 and expected to grow at a significant CAGR of 15% during the forecast period 2020 to 2027. The demand for contactless payments is increasing significantly due to increased integration in mobile devices and smartphones. Increasing adaptation in contactless technology contributes the market growth. Around 50% of transactions in Europe are contactless. Contactless payment is effectively adopted in various factors such as transportation, supermarkets, shopping centers, BFSI, and other sectors.

The market is segmented on the basis of device, solution, application, and region. By device, the market is further segmented into smartphones & wearables, PoS terminals, and smart cards. PoS terminal segment held a major share of around 60% due to high deployment in the retail sector across the globe. By application, the retail sector held the largest share with more than 60% in 2019 due to increased adaptation of contactless payment in order to reduce the payment time.

The report provides both, qualitative and quantitative analyses of the market, the competitive landscape, and the preferred development strategies of key players which help to formulate competitive market strategies and make informed decisions. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market, and expert opinion obtained from interviews with industry executives and experts from prominent companies.
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COVID-19 Impact on the Contactless Payments Market

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