Contactless Payment Market Rising at 21.2% CAGR to 2021

May 25, 2016, 12:45 ET from ReportsnReports

PUNE, India, May 25, 2016 /PRNewswire/ --

The contactless payment market size is growing at highest rate due to the increasing adoption of contactless payment technology in mobile handsets and wearables while the payment terminal solution is set to dominate this industry forecast to reach $17.56 billion by 2021, at a CAGR of 21.2%.

Complete report on global contactless payment market spread across 146 pages, profiling 10 companies and supported with 69 tables and 48 figures is now available at

Ease of integration of contactless payment technology with existing cards and increased average transaction value is also driving the growth of the market. In 2016, payment terminal solution is expected to dominate the contactless payment solutions market due to the increasing support and assistance required by the merchants who are readily deploying the contactless payment terminals in the businesses to support contactless payment transactions. Healthcare is the fastest-growing vertical due to increasing adoption of contactless technology for bill payments in hospitals. Professional services commands the major share in contactless payment services market as these services are necessary for the successful implementation of contactless payment platforms and technologies.

Europe is expected to hold the largest market share of the contactless payment market in 2016 due to technological advancements and increasing contactless smart card roll-outs. APAC is expected to have the highest growth rate during the forecast period due to the increasing number of contactless payment technology enabled smart phones in countries such as China, Australia, Japan, and India.

The various key contactless payment vendors profiled in this report such as Gemalto N.V., Giesecke & Devrient GmbH, Ingenico Group, Verifone Systems Inc., Wirecard AG, Heartland Payment Systems Inc., INSIDE Secure, OTI, Oberthur Technologies SA and Proxama PLC. Order a copy of Contactless Payment Market by Solution (Payment Terminal, Mobile Payment, Transaction & Data Management, Security and Fraud Management), Service (Professional, Managed), Payment Mode (Mobile Handsets, Smart Cards) and Vertical - Global Forecast to 2021 research report at

To determine the market size of various segments and sub-segments of the PIM market, extensive secondary research is done. In the process of determining and verifying, the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (35%), Tier 2 (45%) and Tier 3 (20%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-level Executives (35%), Directors Level (25%) and others (40%) from various key organizations operating in the global contactless payment. The primary interviews were conducted worldwide covering regions such as North America (45%), Europe (20%), APAC (30%) and RoW (5%).

On a related note, another research on Counterfeit Money Detection Market Global Forecast to 2020 says, the global market is expected to reach USD 3.11billion by 2020, growing at a CAGR of 6.9% between 2015 and 2020. The transportation industry is expected to grow at the highest rate during the forecast period 2015-2020. North America is expected to hold the largest market share during the forecast period. This report caters to the needs of leading companies, end users, component manufacturers, and other related stakeholders in this market. Companies like Crane Payment Innovations, Glory Global Solutions, Japan Cash Machine Co., Ltd., Cummins Allison Corp., Fraud Fighter, Cassida Corporation and Royal Sovereign have been profiled in this 154 pages research report available at .

Explore more reports on the IT & Telecommunication market at     

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