Contactless Payments Market Outlook to 2023 - Wirecard, Gemalto, Ingenico Group, Heartland Payment Systems, Inside Secure, OTI - On Track Innovations, Giesecke+Devrient advance52 GmbH

The mobile payment industry has evolved over the past decade with advanced technologies and innovative developments by the key players for providing ease of payment using devices such as mobile handsets, point of sale terminals, NFC chips, smart cards, and others. Contactless payment systems comprise smart cards or other devices that integrate RFID or NFC technologies for making secure and contactless payment. Unlike mobile payments that are done through the internet, contactless payments are carried out in close physical proximity preventing unauthorized access during the transaction(s).

The global contactless payments market is driven by reduced transaction time, convenience in processing low-value payments, and increased revenue opportunities. However, high costs involved for the installation of EPOS terminals and lower rate of adoption hamper the contactless payments market growth.

According to this study, over the next five years the Contactless Payments market will register a 23.1% CAGR in terms of revenue, the global market size will reach US$ 81600 million by 2023, from US$ 23400 million in 2017. In particular, this report presents the global revenue market share of key companies in Contactless Payments business.

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The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Ingenico Group, Verifone Systems, Inc., Inside Secure, on Track Innovations, Oberthur Technologies SA, Proxama, PLC., Wirecard AG, Giesecke & Devrient GmbH, Gemalto N.V. and Heartland Payment Systems, Inc..

This study considers the Contactless Payments value generated from the sales of the following segments:

Segmentation by product type:

· Payment Terminal Solution
· Transaction Management
· Hosted Point-of-sale
· Analytics

Segmentation by application:

· BFSI
· Retail
· IT & Telecom
· Transportation
· Hospitality
· Government
· Others

This report also splits the market by region:

· Americas
· APAC
· Europe
· Middle East & Africa

In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key players and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.

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Research objectives

· To study and analyze the global Contactless Payments market size by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023.

· To understand the structure of Contactless Payments market by identifying its various subsegments.

· Focuses on the key global Contactless Payments players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.

· To analyze the Contactless Payments with respect to individual growth trends, future prospects, and their contribution to the total market.

· To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).

· To project the size of Contactless Payments submarkets, with respect to key regions (along with their respective key countries).

· To analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.

· To strategically profile the key players and comprehensively analyze their growth strategies.

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