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Contactless Payment Market 2020 - POS Terminals To Hold a Major Industry Share By 2025

Contactless Payment Market

Contactless Payment Market

The contactless payment market is categorized on the basis of devices into mobile handsets, POS terminals, NFC chips, and smart cards. The POS terminals market is anticipated to hold a major share in the market due to the large-scale adoption of POS devices across retail channels and restaurants. Moreover, the integration of the NFC chip-enabled cards also presents a huge opportunity for the growth of the POS market.

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The widespread adoption of smartphones across the globe also acts as a major driver for the contactless payment market. The smartphone manufacturers are incorporating various short-range communication technologies, such as Bluetooth, RFID, Wi-Fi, and Near Field Communication (NFC), in their smartphones.

The Contactless Payment Market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2014 to 2025 for the following segments:

By Device Type, 2014-2025 (USD Million)
• Mobile Handsets
• Point-of-Sale (POS) Terminals
• NFC Chips
• Smart Cards
By Application, 2014-2025 (USD Million)
• BFSI
• IT & Telecom
• Retail
• Healthcare
• Others

Major players in the contactless payment market are Heartland Payment Systems Inc., Wirecard AG, On Track Innovations, Ingenico Group, Gemalto N.V., Proxama, Inside Secure, Giesecke & Devrient GmbH, and Ingenico Group. The large companies in the market are focusing on strategically acquiring various start-ups working on contactless payment solutions.

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Europe’s contactless payment market will grow significantly over the forecast period due to the wide adoption of contactless payment among retailers, restaurants, bars, pubs, service stations, and supermarkets. The constant improvements in the regional infrastructure of countries including Denmark, Greece, Greece, Hungary, Croatia, the Netherlands, Poland, and Russia have been further adding to the growth of the market. In addition, the increasing penetration of smartphones across the European countries also presents myriad opportunities for the growth of the market.

The Asia Pacific contactless payment market is projected to grow significantly over the forecast period. The supportive government initiatives in countries including India and China to promote the adoption of digital payments are driving the market growth. Furthermore, the increasing adoption of smartphones and the growing card network in the region is encouraging the adoption of non-contact payment solutions.

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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
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Email: sales@gminsights.com

About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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