openPR Logo
Press release

Contactless payments market is expected to reach at $27.23 billion by 2023 with leading major market players - Ingenico Group, Verifone Systems, Inc., Inside Secure, on Track Innovations, Oberthur Technologies SA, Proxama, PLC

10-22-2020 10:48 AM CET | IT, New Media & Software

Press release from: Allied Market Research

Contactless payments market is expected to reach at $27.23

The global contactless payments market was estimated at $8.75 billion in 2017 and is expected to hit $27.23 billion by 2023, registering a CAGR of 20.8% from 2017 to 2023. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.

Emerging countries, such as China, Japan, South Korea, and India, are expected to experience significant growth in the number of contactless technology enabled smartphones and technological advancements.

Download Report Sample (150 Pages PDF with Insights) @ https://www.alliedmarketresearch.com/request-sample/2513

Based on geography, Europe held the major share in 2017, garnering nearly two-fifths of the global market. At the same time, Asia-Pacific would showcase the fastest CAGR of 21.6% from 2017 to 2023. The other regions analyzed in the report include Europe and LAMEA.

Increase in smartphone penetration, integration of contactless cards with the existing cards, and advantages related to contactless payments such as ease and expediency fuel the growth of the market. On the other hand, security issues regarding technology, and difficulties related to the replacement of POS terminals curtail down the growth. Nevertheless, integration of IoT and contactless payment technology in the emerging economies pave the way for lucrative opportunities in the near future.

For Purchase Inquiry: https://www.alliedmarketresearch.com/purchase-enquiry/2513

The leading market players analyzed in the contactless payments market report include Verifone Systems, Inc., Ingenico Group, Heartland Payment Systems, Inc., Inside Secure, on Track Innovations, Oberthur Technologies SA, Proxama, Wirecard AG, PLC., Giesecke & Devrient GmbH, and Gemalto N.V. These market players have adopted different strategies including partnership, expansion, collaboration, joint ventures, and others to strengthen their stand in the industry.

Based on industry vertical, the BFSI sector accounted for more than one-fifths of the total market share in 2017, and would maintain its top status by the end of 2023. Simultaneously, the government sector would manifest the fastest CAGR of 22.5% throughout the forecast period. The other segments assessed in the report include retail, IT & Telecom, transportation, and hospitality.

Access full summary at: https://www.alliedmarketresearch.com/contactless-payments-market

Based on device type, the mobile handsets segment contributed to nearly one-third of the total market revenue in 2017 and is projected to lead the trail by 2023. The smart cards segment, on the other hand, would portray the fastest CAGR of 22.1% till 2023. The other two segments discussed in the market report include point of sale terminals and NFC chips.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on: LinkedIn Twitter

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Contactless payments market is expected to reach at $27.23 billion by 2023 with leading major market players - Ingenico Group, Verifone Systems, Inc., Inside Secure, on Track Innovations, Oberthur Technologies SA, Proxama, PLC here

News-ID: 2167990 • Views:

More Releases from Allied Market Research

Thermoplastic Composites Market Business Opportunities, Challenges, Drivers and Restraint Research Report by 2027
Thermoplastic Composites Market Business Opportunities, Challenges, Drivers and …
The global thermoplastic Composites market is presently driven by the automotive, construction and aerospace industries. In the aerospace & defense industry, the use of thermoplastic composites is primarily intended to minimize the total weight and corrosion in the aircraft structure. In addition, maintenance costs for aircraft produced using composites have significantly decreased compared with maintenance costs for aircraft produced using conventional materials. Thermoplastic composites having various properties including insubstantial weight,
Glass Fiber Reinforced Plastics (GFRP) Composites Market to Reach $37.2 Billion …
Allied Market Research published a report, titled, "Glass Fiber Reinforced Plastic (GFRP) Composites Market by Resin Type (Polyester Resin, Vinyl Ester Resin, Epoxy Resin, Polyurethane Resin, and Others), Process (Manual Process, Continuous Process, Compression Molding, and Injection Molding), and End-Use Industry (Aerospace and Defense, Construction, Wind Energy, Automotive, Electrical and Electronics, and Others): Global Opportunity Analysis and Industry Forecast, 2022-2032". According to the report, the global glass fiber reinforced plastic
India Bitumen Market Statistics, Size Will Hit $6.8 Billion By 2032 | Growth With Recent Trends & Demand
India Bitumen Market Statistics, Size Will Hit $6.8 Billion By 2032 | Growth Wit …
Bitumen is a mixture of viscous, highly sticky, and black organic liquids, which is soluble in carbon disulfide and primarily consists of condensed polycyclic aromatic hydrocarbons. It is a crucial component of asphalt, which is used to build roads, streets, and other parts of infrastructure. One of the primary applications of bitumen is in road construction. It is used as a binder in asphalt concrete, which is a mixture of
Mining Metal Market Size to Worth $1.6 Trillion by 2032 | Major Companies, Strategies and New Trends
Mining Metal Market Size to Worth $1.6 Trillion by 2032 | Major Companies, Strat …
Allied Market Research recently unveiled a report titled "Mining Metal Market," forecasting trends from 2023 to 2032. This market, categorized by type and end-use industry, is set to expand from $1.0 trillion in 2022 to $1.6 trillion by 2032, with a notable CAGR of 5.1% during 2023-2032. 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 : https://www.alliedmarketresearch.com/request-sample/504 Prime Determinants of Growth: Several factors fuel the growth of the global mining metal market, including the shift

All 5 Releases


More Releases for CAGR

Cat Litter Box Market | CAGR of 9.1% | Revenue & CAGR of 9.1%
Cat Litter Box Market Report provides precise data about the market size, commercialization aspects and revenue forecast of the industry. The global Cat Litter Box market offers a historical factsheet relevant to the strategic mergers, acquirements, joint venture activities, and partnerships spread in the Cat Litter Box market. The most advanced data has been presented in the study on the revenue numbers, product details, and sales of the major firms.
Predictive Analytics Market Growing at Strong CAGR of CAGR of 25.31% 2019
Predictive analytics helps to extract information from the existing data. It helps in understanding the pattern and predict the trend or future for the organization. It uses what-if scenarios to predict possible risks involved in the future. Predictive analytics also helps in the optimization of the marketing campaigns and understanding of the customer behaviour for increasing the end-user response and to reduce the churn. Predictive analytics is segmented into: Risk management:
Global Absorption Chillers Market Reflecting a CAGR of 7.6% CAGR through 2025
The demand for thermally-driven chillers in multiple industrial verticals is poised to grow in the immediate future. Considering the rising demand for electrical chillers in commercial, residential as well as industrial settings, the adoption of absorption chillers will gain traction at considerable rate. By consuming lesser energy than conventional electrical chillers, absorption chillers will also garner surplus demand for not using ozone-depleting chlorofluorocarbons (CFC) for chilling purposes. Persistence Market Research’s
Aircraft Sensors Market Growing at a CAGR of 6.4% CAGR By 2022
The global aircraft sensors market is forecasted to receive a strong push in its growth momentum on the back of advancements in technologies, massive investments forwarded by private equity groups, and the elevation in the demand for aircraft. Adherence to the requirements and regulations of authorities such as local aircraft regulatory bodies and the Federal Aviation Administration (FAA) could pamper the growth of the market. Nonetheless, there could be more
China Baby Diapers Market Reflecting a CAGR of 19.1% CAGR 2012-2017
The increasing birth rate in China has proven to be a boon for the country’s baby diaper’s market. To provide a comprehensive analysis of the growth trajectory exhibited by the China baby diapers market and study the impact of the dynamic regulatory policies on the market, Transparency Market Research (TMR) has published a report, titled “Baby Diapers Market - China Industry Analysis, Market Size, Share, Growth, Trends And Forecast, 2012
Ecg Device Market Register a CAGR Growth of 4.1% CAGR by 2024
This region holds highest market share over the forecast period (2016-2024) and is expected to exhibit slow growth rate. The Asia Pacific is expected to be the fastest-growing region for ECG devices owing to its increasing incidence rate of cardiovascular diseases and high population. ECG devices are experiencing a paradigm technological shift from resting ECG systems to portable Holter monitoring systems, owing to their advantages of patient mobility, low prices and