NEW YORK, Feb. 13, 2017 /PRNewswire/ -- "Reduction in queuing & transaction time and increased convenience in making low value payments are driving the contactless payment market"
The contactless payment market is estimated to grow from USD 6.70 billion in 2016 to USD 17.56 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 21.2% during the forecast period. Reduction in queuing & transaction time, increased convenience in making low value payments, ease of technology integration with existing cards, increased average transaction value, better customer insights, improved service delivery, and increased revenue opportunity are some of the driving factors of the contactless payment market. High cost involved in deploying Embedded Parallel Operating System (EPOS) terminals and security issues related to the contactless technology act as major restraining factors for the growth of the contactless payment market.
"Mobile apps to play a key role in the mobile money market by 2021"
Mobile apps are expected to have the largest market share in the mobile money market during the forecast period. The market share of mobile apps is expected to rise because these are built on software which are compatible for use in smartphones and can be easily operated. Functions such as sending, receipt, and withdrawal of money as well as viewing account information and managing contacts can be done with these simple apps.
"The in-building solution segment is expected to hold the largest market share in the Mass Notification System (MNS) market and the current trend is expected to continue during the forecast period"
In-building MNS is used to notify people in a closed or a restricted area where the consequences of emergencies can be of critical nature. Indoor public address system, digital signage, desktop alerting, tone alert radios, voice-enabled fire alarm panels, posted notices, video screens, and telephones are a part of in-building mass notification solutions, which can be instruments to relay critical information to the masses, thereby reducing panic and chaos.
"Asia-Pacific (APAC) is expected to grow at the highest CAGR during the forecast period in the overall top 10 telecom technologies"
APAC is expected to grow at the highest CAGR during the forecast period of 2016-2021. The Content Distribution Network (CDN) market is expected to grow at the highest CAGR of 48.8%, followed by the mobile money and indoor location market growing at CAGR of 45.5% and 45.2%, respectively, in the APAC region. The rising significance of mobile technologies and the growing government initiatives in the developing economies are driving the growth of telecom and mobility market in the APAC region.
The various key vendors profiled in the report are as follows:
1. Gemalto N.V (Amsterdam, the Netherlands)
2. Giesecke & Devrient GmbH (Munich, Germany)
3. Apple Inc. (California, U.S.)
4. Google, Inc. (California, U.S.)
5. Eaton Corporation (Dublin, Ireland)
6. Honey International Inc. (New Jersey, U.S)
7. BlackBerry Limited (Ontario, Canada)
8. Cisco Systems (California U.S)
9. Microsoft Corporation (Washington, U.S.)
10. ORBCOMM, Inc. (New Jersey, U.S.)
11. Inmarsat ( London, U.K)
12. AT&T (Texas, U.S)
13. Ericsson (Stockholm, Sweden)
14. EMC Corporation (Massachusetts, U.S.)
15. Bharti Airtel Limited (New Delhi, India)
The top 10 telecom technologies market has been segmented based on solution, end-user, and vertical in the mobile value added services market; component and vertical in the Bring Your Ow Device (BYOD) and enterprise mobility market; transaction mode, type of purchase, and industry in the mobile money market; software solution, application, and user type in the mobile learning market; solution, service, and vertical in the contactless payment market; component and vertical in the indoor location market; component, solution, application, and vertical in the mass notification system market; technology, communication network, service and vertical in the Machine to Machine (M2M) satellite communication market; type, solution & service, and vertical in the mobile content delivery network market; and user type and vertical in the mobile user authentication market. A detailed analysis of the key industry players has been done to provide key insights into their business overview, products & services, key strategies, new product launches, partnerships, agreements, collaborations, expansions, and competitive landscape associated with the top 10 telecom technology market.
Reasons to Buy the Report
The report will help the market leaders/new entrants in this market in the following ways:
- This report segments the top 10 telecom technology market comprehensively and provides the closest approximations of the revenue numbers for the overall markets and the subsegments across different verticals and regions.
- The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
- This report will help stakeholders to better understand the competitors and gain more insights to improve their position in the business. The competitive landscape section includes competitive ecosystem, new product developments, partnerships, and mergers & acquisitions.
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