Global Contactless Payment Market (2021 to 2026) - Industry Trends, Share, Size, Growth, Opportunity and Forecasts

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Dec 07, 2021, 11:30 ET

DUBLIN, Dec. 7, 2021 /PRNewswire/ -- The "Contactless Payment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.

The global contactless payment market reached a value of US$ 10.50 Billion in 2020 and is expected to reach US$ 20.7 Billion by 2026. Contactless payment refers to a payment alternative that enables the users to make digital payments without requiring physical contact between the parties.

It involves the use of credit, debit and smart cards, key fobs and smartphone-based online payment applications. They are embedded with an integrated circuit (IC) chip and antenna and operate through radio-frequency identification (RFID) or near field communication (NFC) technologies for making secured payments. In comparison to the contact-based payment alternatives, they are faster, more secure, convenient to use and aid in improving the overall consumer experience. As a result, they are widely used across industries, such as retail, healthcare, energy, hospitality, transportation and banking, financial services and insurance.

Rapid digitization of the banking, financial services and insurance (BFSI) industry across the globe represents one of the key factors driving the growth of the market. Furthermore, increasing consumer awareness regarding the convenience offered by contactless payment tools and the rising demand for minimized queue time and faster checkouts at banks, are also driving the market growth. In line with this, the onset of coronavirus (Covid-19) pandemic has also enhanced the demand for contactless payment solutions that require minimal physical interactions, is also contributing to the market growth.

Additionally, various technological advancements, such as the development of biometric-based contactless smart cards and novel RFID tags, are acting as other growth-inducing factors. These technologies are widely adopted by small merchants and service providers to conduct cashless transactions by using their smartphones.

Other factors, including the widespread adoption of blockchain and 5G technologies, along with significant improvements in the networking infrastructure, especially in the developing economies, are anticipated to drive the market further. Looking forward, the publisher expects the global contactless payment market to grow at a CAGR of around 18% during 2021-2026.

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Giesecke & Devrient GmbH, Heartland Payment Systems (Global Payments Inc.), IDEMIA (Advent International), Ingenico Group (Worldline S.A.), On Track Innovations Ltd., Pax Technology, Setomatic Systems, Thales Group, Valitor, Verifone Systems Inc. (Francisco Partners) and Visa Inc.

Key Questions Answered in This Report:

How has the global contactless payment market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global contactless payment market?
What are the key regional markets?
What is the breakup of the market based on the technology?
What is the breakup of the market based on the device?
What is the breakup of the market based on the solution?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global contactless payment market and who are the key players?
What is the degree of competition in the industry?

Key Topics Covered:

1 Preface

2 Scope and Methodology

3 Executive Summary

4 Introduction
4.1 Overview
4.2 Key Industry Trends

5 Global Contactless Payment Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast

6 Market Breakup by Technology
6.1 Near Field Communication (NFC)
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Radio Frequency Identification (RFID)
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Infrared (IR)
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Others
6.4.1 Market Trends
6.4.2 Market Forecast

7 Market Breakup by Device
7.1 Smartphones and Wearables
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Point-of-Sales Terminals
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Smart Cards
7.3.1 Market Trends
7.3.2 Market Forecast

8 Market Breakup by Solution
8.1 Payment Terminal Solution
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Transaction Management
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Security and Fraud Management
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Hosted Point-of-Sales
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Payment Analytics
8.5.1 Market Trends
8.5.2 Market Forecast

9 Market Breakup by Application
9.1 BFSI
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Retail
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Transportation
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Healthcare
9.4.1 Market Trends
9.4.2 Market Forecast
9.5 Others
9.5.1 Market Trends
9.5.2 Market Forecast

10 Market Breakup by Region

11 SWOT Analysis

12 Value Chain Analysis

13 Porters Five Forces Analysis

14 Price Analysis

15 Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
15.3.1 Giesecke & Devrient GmbH
15.3.1.1 Company Overview
15.3.1.2 Product Portfolio
15.3.2 Heartland Payment Systems (Global Payments Inc.)
15.3.2.1 Company Overview
15.3.2.2 Product Portfolio
15.3.3 IDEMIA (Advent International)
15.3.3.1 Company Overview
15.3.3.2 Product Portfolio
15.3.4 Ingenico Group (Worldline S.A.)
15.3.4.1 Company Overview
15.3.4.2 Product Portfolio
15.3.5 On Track Innovations Ltd
15.3.5.1 Company Overview
15.3.5.2 Product Portfolio
15.3.5.3 Financials
15.3.6 Pax Technology
15.3.6.1 Company Overview
15.3.6.2 Product Portfolio
15.3.7 Setomatic Systems
15.3.7.1 Company Overview
15.3.7.2 Product Portfolio
15.3.8 Thales Group
15.3.8.1 Company Overview
15.3.8.2 Product Portfolio
15.3.8.3 Financials
15.3.8.4 SWOT Analysis
15.3.9 Valitor
15.3.9.1 Company Overview
15.3.9.2 Product Portfolio
15.3.10 Verifone Systems Inc. (Francisco Partners)
15.3.10.1 Company Overview
15.3.10.2 Product Portfolio
15.3.11 Visa Inc.
15.3.11.1 Company Overview
15.3.11.2 Product Portfolio
15.3.11.3 Financials
15.3.11.4 SWOT Analysis

For more information about this report visit https://www.researchandmarkets.com/r/hj0lnq

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