Contactless Payment Transaction Market Key Trends, Size Analysis to 2025 | Leading Players: Apple Inc, Barclays Ingenico Group, Heartland Payment Systems Inc, Giesecke & Devrient GmbH,Inside Secure, Samsung Electronics Ltd.

Global Contactless Payment Transaction Market Overview:

Fierce competition prevails in the global market for contactless payment transactions. In fact, there are a considerable number of small and large service providers, and entry into the market is quite easy. Recently, the entry of banks, card companies, telecommunications companies and payment companies that are investing in contactless payment services has further intensified competition in the market.

To guarantee sustainable returns, service providers focus on developing innovative marketing strategies for higher conversion rates. For example, Samsung has developed a secure magnetic transmission, which releases a magnetic signal that mimics the magnetic stripe of traditional payment cards. The global contactless payment transaction market is projected to rise at a whopping XX% CAGR from 2017 to 2025 for the market’s valuation to reach USD XX billion by 2025.

Drivers and Restraints:
The key factor in the market for contactless payment transactions is the growing demand for fast transactions, particularly in the retail and transportation sectors, supported by the growing use of smartphones. The high cost of installing point-of-sale (PoS) machines for contactless payment on standard PoS machines is an obstacle.

Geographic Segmentation:
In terms of payment method, the market segments are portable devices, contactless card (RFID / NFC) and mobile payment without contact. The contactless card segment (NFC / RFID) is expected to be the world's leading non-contact payment transaction during the forecast period. The portable device segment includes transactions in a smart watch or smartband. It is expected that the segment of portable devices will grow significantly in the coming years. The contactless mobile payment segment includes payments made through smartphones.

The global market for contactless payment transactions is classified by hospitality, media and entertainment, transportation, retail, medical care and others, by end use. Of these, the distribution segment is expected to contribute to the global market for contactless payment transactions, followed by the transportation and hotel sectors in the coming years.
Based on geography, has been segmented into North America, Asia Pacific, Europe, the Middle East, Africa and South America. With the growing adoption of NFC enabled smart portable devices and the increasing use of contactless cards, Europe is expected to experience relatively rapid growth among other key regional segments. In the region, contactless cards are expected to be the main source of revenue, supported by the growth of the retail and transportation industries in the United Kingdom, Poland and Germany. According to data published by the Card Association of the United Kingdom, the number of contactless cards issued in the United Kingdom were 857 million in 2015.

Asia Pacific is expected to publish a relatively rapid adoption of contactless devices and NFC-enabled mobile devices with the launch of applications such as Samsung Pay. The region is expected to publish a higher growth rate than the other regions and the second one after Europe. In Asia-Pacific, the retail and e-commerce, hospitality and transportation sectors are expected to generate significant revenues supported by economic development in India, China and South Korea. The market for contactless payment transactions in North America shows solid growth supported by a broad base of mobile phone users.

Leading players in the global abrasives market are:
Apple Inc.
Barclays
Ingenico Group
Heartland Payment Systems Inc.
Giesecke & Devrient GmbH
Inside Secure
Samsung Electronics Ltd.
On Track Innovations Ltd.
Verifone Systems Inc.
Gemalto N.V.
Wirecard AG

Scope of the report:
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.

The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.

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