Contactless Payment Market Overview
The report includes a detailed analysis of Contactless Payment market dynamics, size and share with the list of key players across the globe. The competitive landscape including the revenue of each player in the report helps clients to develop strategies to grow their presence in the global Contactless Payment market.
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Contactless Payment Market Report Scope and Research Methodology
The main aim of the report is to present a detailed analysis of the Global Contactless Payment Market including all the stakeholders of the industry. The past and current status of the Contactless Payment industry with forecasted market size and trends are presented in the report. The report provides a detailed region-wise and segment-wise analysis of the Contactless Payment market dynamics including drivers, restraints, challenges and opportunities. PORTER, SWOT, and PESTLE analysis with the potential impact of macroeconomic and microeconomic factors of the Contactless Payment industry have been presented in the report. The bottom-up approach was used to estimate the global and regional Contactless Payment size. Clear representation of competitive analysis of key players by Type, price, financial position, Raw material portfolio, growth strategies, and regional presence in the global market makes the Contactless Payment market report an investor’s guide.
Contactless Payment Market Regional Insights
The report provides a detailed analysis of Contactless Payment market dynamics with market size and share in each region and country:
- North America
- Asia Pacific
- Europe
- Middle East and Africa
- South America
Contactless Payment Market Segmentation
By type, the smartphone and wearable segment dominated the global market in 2021. This segment is projected to register the highest CAGR of 9.5% during the forecast period (2021-2029). This is because many NFC-based mobile payment apps such as Paytm and Ali Pay have emerged in developing countries such as India and China. A hindrance to the growth of this segment is the rise in online fraud in these countries.
Over the same forecast period, HIS CAGR of the smart card segment is projected to increase significantly with HIS 7.8%. This may be due to the hassle-free nature of debit or credit card payments. Credit cards are also the most popular payment method for online e-commerce transactions. However, smart cards are vulnerable to identity theft between users. The Federal Trade Commission reports a more than 70% increase in identity theft incidents in 2021 alone.
POS terminals are expected to register moderate growth during the forecast period (2021-2029). Businesses are rapidly adopting point-of-sale methods for transactions. Retail is he one of the major users of POS terminals. This is the main reason for the growth of this segment over the same forecast period.
By application, the food and grocery segment dominated the global market in 2021. This segment is expected to register the highest growth with a CAGR of 8.7% during the forecast period (2021 to 2029). Online grocery ordering companies such as Swiggy and Zomato also have online payment capabilities such as G-Pay and Amazon Pay in their apps. Hence, these companies are indirectly driving the growth of the contactless payment system market across the globe.
The pharmaceutical segment is expected to follow the food and grocery segment for growth during the same forecast period. This is due to the significant increase in patient numbers in 2021 and his COVID-19 pandemic in 2021. We expect this trend to continue as new variants emerge around the world.
Contactless Payment Market Key Players
• Mobeewave
• Alcineo
• Castles
• SumUp
• PayCore
• PVERIMATRIX
• PGoogle
• PAmazon
• PApple Inc.
• PHeartland Payment Systems,Inc.
• Gemalto
• Infineon
• Ingenico
• Wirecard
• Verifone
• Giesecke+Devrient
• IDEMIA
• On Track Innovations
• Identiv
• CPI Card Group
• Bitel
• Setomatic Systems
• Valitor
• PAX Global Technology
• MYPINPAD
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Key Questions answered in the Contactless Payment Market Report are:
- Which segment held the largest share in the Contactless Payment market?
- Which are the factors driving the Contactless Payment market growth?
- Which region holds the largest share in the Contactless Payment market?
- What is the expected CAGR of the Contactless Payment market during the forecast period?
- Who are the key players in the Contactless Payment market?
- What key trends are expected to emerge in the Contactless Payment market during the forecast period?
Key Offerings:
- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by X, X, X and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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