Press release
What's driving the Contactless payment Market Share? ACS (Advanced Card Systems), Chip & Pin Solutions Ltd., Mifare Pty, Ingenico, Gemalto, Verifone Systems Inc.
Contactless payment Market
Global Contactless payment Market is valued approximately at USD 9.3 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 11.70% over the forecast period 2020-2026.The Contactless Payment is a protected method intended for the transaction of the payments done by credit cards, debit cards, smartphones, and others. Unlike mobile payments which are done over the internet, contactless payments are carried out in close physical proximity avoiding illegal access during the transaction.
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The advancement in contactless payment technology, increasing frequency of purchases coupled with rising awareness of plastic money among the buyers, are the key factor propelling the growth of the market. For instance, in January 2020, CPI Card Group unveiled dual interface metal cards that distinctively combine high-quality design and contactless capabilities. Similarly, in October 2019, Mobeewave and IDEMIA prolonged their business to install safe mobile PoS and fare authentication across Australia. Further, in August 2019, Sisal Group and Wirecard signed an arrangement in the field of contactless payment solutions. Moreover, utilization of security features of emerging technologies, such as 5G and blockchain is expected to create significant growth opportunity in the market over the forecast period. However, high cost of deploying contactless payment technologies impedes the growth of the market over the forecast period of 2020-2026.
There are a number of advantages of utilizing contactless payments such as they are extremely convenient specifically in comparison to conventional payment methods (electronic transaction) as well as improves the overall efficacy in the payment method. The customers can instantaneously complete transactions with the tap of a card. This increases the speed of transactions, making contactless payments even more efficient.
The regional analysis of global Contactless payment market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to high penetration of smartphones and advancements appeared from the smart chip technology. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026. Factors such as growing purchasing power along with increasing acceptance of this mode of payment would create lucrative growth prospects for the Contactless payment market across Asia-Pacific region.
Major market player included in this report are:
ACS (Advanced Card Systems) Ltd.
Chip & Pin Solutions Ltd.
Mifare Pty Limited
Ingenico Inc.
Gemalto N.V.
Verifone Systems Inc.
Heartland Payment Systems Inc.
On Track Innovations Ltd.
Castles Technology Co. Ltd.
Bindo Labs Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Component:
Hardware
Solutions
Services
By Vertical:
Retail
Healthcare
Hospitality
Energy and Utilities
Transportation and Logistics
Banking, Financial Services and Insurance
Others
By Technology:
NFC based
RFID based
Others
By Payment Mode:
Smartphones
Smartcards
Others
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year âEUR" 2016, 2017, 2018
Base year âEUR" 2019
Forecast period âEUR" 2020 to 2026
Target Audience of the Global Contactless payment Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2026 (USD Billion)
1.2.1. Contactless payment Market, by Region, 2018-2026 (USD Billion)
1.2.2. Contactless payment Market, by Component, 2018-2026 (USD Billion)
1.2.3. Contactless payment Market, by Vertical, 2018-2026 (USD Billion)
1.2.4. Contactless payment Market, by Technology, 2018-2026 (USD Billion)
1.2.5. Contactless payment Market, by Payment mode, 2018-2026 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Contactless payment Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Contactless payment Market Dynamics
3.1. Contactless payment Market Impact Analysis (2018-2026)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Contactless payment Market: Industry Analysis
4.1. PorterâEUR(TM)s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to PorterâEUR(TM)s 5 Force Model (2016-2026)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Contactless payment Market, by Component
5.1. Market Snapshot
5.2. Global Contactless payment Market by Component, Performance - Potential Analysis
5.3. Global Contactless payment Market Estimates & Forecasts by Component 2016-2026 (USD Billion)
5.4. Contactless payment Market, Sub Segment Analysis
5.4.1. Hardware
5.4.2. Solutions
5.4.3. Services
Chapter 6. Global Contactless payment Market, by Vertical
6.1. Market Snapshot
6.2. Global Contactless payment Market by Vertical, Performance - Potential Analysis
6.3. Global Contactless payment Market Estimates & Forecasts by Vertical 2016-2026 (USD Billion)
6.4. Contactless payment Market, Sub Segment Analysis
6.4.1. Retail
6.4.2. Healthcare
6.4.3. Hospitality
6.4.4. Energy and Utilities
6.4.5. Transportation and Logistics
6.4.6. Banking, Financial Services and Insurance
6.4.7. Others
Chapter 7. Global Contactless payment Market, by Technology
7.1. Market Snapshot
7.2. Global Contactless payment Market by Vertical, Performance - Potential Analysis
7.3. Global Contactless payment Market Estimates & Forecasts by Vertical 2016-2026 (USD Billion)
7.4. Contactless payment Market, Sub Segment Analysis
7.4.1. NFC based
7.4.2. RFID based
7.4.3. Others
Chapter 8. Global Contactless payment Market, by Payment Mode
8.1. Market Snapshot
8.2. Global Contactless payment Market by Vertical, Performance - Potential Analysis
8.3. Global Contactless payment Market Estimates & Forecasts by Vertical 2016-2026 (USD Billion)
8.4. Contactless payment Market, Sub Segment Analysis
8.4.1. Smartphones
8.4.2. Smartcards
8.4.3. Others
Chapter 9. Global Contactless payment Market, Regional Analysis
9.1. Contactless payment Market, Regional Market Snapshot
9.2. North America Contactless payment Market
9.2.1. U.S. Contactless payment Market
9.2.1.1. Component breakdown estimates & forecasts, 2016-2026
9.2.1.2. Vertical breakdown estimates & forecasts, 2016-2026
9.2.1.3. Technology breakdown estimates & forecasts, 2016-2026
9.2.1.4. Payment mode breakdown estimates & forecasts, 2016-2026
9.2.2. Canada Contactless payment Market
9.3. Europe Contactless payment Market Snapshot
9.3.1. U.K. Contactless payment Market
9.3.2. Germany Contactless payment Market
9.3.3. Rest of Europe Contactless payment Market
9.4. Asia-Pacific Contactless payment Market Snapshot
9.4.1. China Contactless payment Market
9.4.2. India Contactless payment Market
9.4.3. Japan Contactless payment Market
9.4.4. Rest of Asia Pacific Contactless payment Market
9.5. Latin America Contactless payment Market Snapshot
9.5.1. Brazil Contactless payment Market
9.5.2. Mexico Contactless payment Market
9.6. Rest of The World Contactless payment Market
Chapter 10. Competitive Intelligence
10.1. Top Market Strategies
10.2. Company Profiles
10.2.1. ACS (Advanced Card Systems) Ltd.
10.2.1.1. Key Information
10.2.1.2. Overview
10.2.1.3. Financial (Subject to Data Availability)
10.2.1.4. Product Summary
10.2.1.5. Recent Developments
10.2.2. Chip & Pin Solutions Ltd.
10.2.3. Mifare Pty Limited
10.2.4. Ingenico Inc.
10.2.5. Gemalto N.V.
10.2.6. Verifone Systems Inc.
10.2.7. Heartland Payment Systems Inc.
10.2.8. On Track Innovations Ltd.
10.2.9. Castles Technology Co. Ltd.
10.2.10. and Bindo Labs Inc.
Chapter 11. Research Process
11.1. Research Process
11.1.1. Data Mining
11.1.2. Analysis
11.1.3. Market Estimation
11.1.4. Validation
11.1.5. Publishing
11.2. Research Attributes
11.3. Research Assumption
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