Contactless Payment Market – Global Opportunities & Forecast, 2020–2027

GMI Research market report focuses on providing an overview of the industry through detailed market segmentation. The report has information related to the overview and scope of the market followed by the key drivers, restraints, and emerging trends in the market. This report is especially designed to include both qualitative and quantitative aspects of the industry in each region and country included in the study.

List of Significant Manufacturers in the Contactless Payment Market include:

·         Infineon Technologies AG

·         Idemia

·         Gemalto NV

·         Wirecard

·         Identiv Inc.

·         Verifone

·         On Track Innovations LTD.

·         Geisecke+Devrient

·         CPI Card Group

·         Valitor

·         Bitel

·         Setomatic Systems

·         Ingenico Group

·         Mobeewave

·         Pax Global Technology Limited

Contactless Payment Market Drivers and Restraints:

The significant factors accelerating the growth of the global contactless payment market include the rise in the number of contactless payments across the world due to its various advantages that include development in the customer’s purchase experience, security in the transactions, and decreased fraud losses, coupled with speeding up of transactions and raised customers satisfaction. Moreover, the growing penetration of the internet and mobile phone usage, followed by the changing inclination of different verticals, including retail and transportation segment towards faster transactions to ensure the customer’s convenience, will attract many customers towards the market during the forecast period. Furthermore, the implementation of security specifications of evolving technologies such as blockchain, 5G, and increasing demand for wearable payment devices are certain factors propelling the growth of the contactless payment market worldwide. On the other hand, the factors hampering the global contactless payment market's growth include the lack of awareness among the consumers, and the high initial installation cost.

Segmentation: Contactless Payment Market

Contactless Payment Market: By Technology

·         Near Field Communication

·         Radio Frequency Identification

·         Host Card Emulation

Contactless Payment Market: By Payment Mode

·         Smartcards

·         Smartphones

·         Others

Contactless Payment Market: By Component

·         Hardware

o   Point of Sale

§  Cards

§  Others

·         Services

o   Consulting

o   Integration & Deployment

o   Support & Maintenance

·         Solutions

Contactless Payment Market: By Vertical

·         Healthcare

·         Transportation & Logistics

·         Retail

·         Hospitality

·         BFSI

·         Energy & Utilities

·         Other Verticals

Contactless Payment Market: By Region

·         North America

 

o   United States of America

o   Canada

 

·         Asia Pacific

 

o   China

o   Japan

o   India

o   Rest of APAC

 

·         Europe

 

o   United Kingdom

o   Germany

o   France

o   Spain

o   Rest of Europe

 

·         RoW

 

o   Brazil

o   South Africa

o   Saudi Arabia

o   UAE

o   Rest of the world (remaining countries of the LAMEA region)

 

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