The Global Contactless Payments market accounted for $8 billion in 2018 and is expected to reach $24.99 billion by 2027, growing at a CAGR of 13.5% during the forecast period.
While the factors such as increased customer satisfaction and improved loyalty programs, and enhanced purchase experience are driving the growth of the market. However, the high cost of deploying contactless payment technologies is restraining market growth. Moreover, the rising demand for mobile and wearable payment devices is creating ample opportunities across the globe.
Based on end-user, the retail segment is likely to have a huge demand in the forecast period due to retailers are adopting innovative technologies, like cloud computing, big data analytics, digital stores, and social networks, to increase their visibility and presence in the market. Moreover, retailers are modernizing their brick-and-mortar stores to provide improved services for customers and establish online stores to increase revenues.
By geography, Europe is estimated to grow at a significant rate due to the presence of the diverse range of countries such as UK, Spain, and Poland which are the leading countries in total contactless spending with the increasing circulation of contactless cards and terminals by card companies, such as Visa and Mastercard.
Some of the key players in Contactless Payments Market include Gemalto N.V, Giesecke& Devrient Gmbh, Verifone Systems, Inc, Ingenico Group, Wirecard AG, Heartland Payment Systems, Inc, Inside Secure, Oberthur Technologies SA, On Track Innovations, Proxama, Paycor, SumUp, Castle, Alcino, and Mobeewave.
What the report offers:
Market share assessments for the regional and country-level segments
Strategic recommendations for the new entrants
Covers Market data for the years 2017, 2018, 2019, 2023 and 2027
Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter's five forces analysis, SWOT analysis, etc.
Strategic recommendations in key business segments based on the market estimations
Competitive landscaping mapping the key common trends
Company profiling with detailed strategies, financials, and recent developments
Supply chain trends mapping the latest technological advancements
Key Topics Covered
1 Executive Summary
3 Market Trend Analysis 3.1 Introduction 3.2 Drivers 3.3 Restraints 3.4 Opportunities 3.5 Threats 3.6 Technology Analysis 3.7 End User Analysis 3.8 Emerging Markets 3.9 Impact of COVID-19
4 Porters Five Force Analysis 4.1 Bargaining power of suppliers 4.2 Bargaining power of buyers 4.3 Threat of substitutes 4.4 Threat of new entrants 4.5 Competitive rivalry
5 Global Contactless Payments Market, By Operational Frequency 5.1 Introduction 5.2 Ultra High Frequency 5.3 High Frequency 5.4 Low Frequency
6 Global Contactless Payments Market, By Technology 6.1 Introduction 6.2 Radio Frequency Identification (RFID) Technology 6.3 Near Field Communication (NFC) Technology 6.4 Infrared (IR) Technology 6.5 Bluetooth
7 Global Contactless Payments Market, By Devices 7.1 Introduction 7.2 Stickers 7.3 Plastic Cards 7.4 Watch and Wrist Band 7.5 Key Fobs 7.6 Mobile Phones 7.7 Car Tag 7.8 Smart Cards 7.9 Mobile Handsets
8 Global Contactless Payments Market, By Component 8.1 Introduction 8.2 Solutions 8.2.1 Hosted Point-Of-Sale 8.2.2 Payment Terminal Solution 8.2.3 Transaction Management 8.2.4 Security and Fraud Management 8.2.5 Analytics 8.2.6 Data Management Solution 8.2.7 Device Management Solution 8.2.8 Payment Terminal Solution 8.3 Services 8.3.1 Support and Maintenance 8.3.2 Consulting 8.3.3 Integration and Deployment 8.3.4 Managed Services 8.3.5 Professional Services 8.3.6 Multi-channel Payment and Value-added Services 8.4 Hardware 8.4.1 Point Of Sale (POS) 8.5 Application Programing Interface (API) 8.6 Mobile Applications 8.7 Software Development Kit (SDK) 8.8 Other Components 8.8.1 Wearables 8.8.2 Readers
9 Global Contactless Payments Market, By Transaction Models 9.1 Introduction 9.2 Offline Stored Value Card 9.3 Speedpass 9.4 E-Z Pass 9.5 Europay, MasterCard and Visa (EMV) Card 9.6 Track 1 and Track 2 Data
10 Global Contactless Payments Market, By End User 10.1 Introduction 10.2 Hospitality 10.3 Government & Public Sector 10.4 Telecommunication & IT 10.5 Retail 10.6 Energy & Utilities 10.7 Healthcare 10.8 Transportation & Logistics 10.9 Banking, Financial Services and Insurance (BFSI) 10.10 Education
11 Global Contactless Payments Market, By Geography 11.1 Introduction 11.2 North America 11.3 Europe 11.4 Asia-Pacific 11.5 South America 11.6 Middle East & Africa
12 Key Developments 12.1 Agreements, Partnerships, Collaborations and Joint Ventures 12.2 Acquisitions & Mergers 12.3 New Product Launch 12.4 Expansions 12.5 Other Key Strategies
13 Company Profiling 13.1 Gemalto N.V. 13.2 Giesecke& Devrient GmbH 13.3 Verifone Systems, Inc. 13.4 Ingenico Group 13.5 Wirecard AG 13.6 Heartland Payment Systems, Inc. 13.7 Inside Secure 13.8 Oberthur Technologies S.A. 13.9 On Track Innovations 13.10 Proxama 13.11 Paycor 13.12 SumUp 13.13 Castle 13.14 Alcino 13.15 Mobeewave