Contactless Payments Market 2020 Global Industry Size Analysis By Top Key Players Gemalto, Giesecke+Devrient, Ingenico, InsideSecure, Oberthur Technologies S.A., On Track Innovations, PAX Technology, Inc., Proxama Plc, Verifone, and Wirecard

The latest survey on Global Contactless Payments Market is conducted covering various organizations of the industry from different geographies to come up with 200+ page report. The study is a perfect mix of qualitative and quantitative information highlighting key market developments, challenges that industry and competition is facing along with gap analysis and new opportunity available and may trend in Contactless Payments Market. The report bridges the historical data from 2014 to 2021 and forecasted till 2027, product outline, the organization’s required raw materials, and others growth factors.

According to a recent report published by Allied Market Research, titled, “Contactless Payment Market by Device Type, and Application: Opportunity Analysis and Industry Forecast, 2020-2027,” The global contactless payment industry size was valued at $1,168 billion in 2019, and is projected to reach $5,424 billion by 2027, growing at a CAGR of 20.6% from 2020 to 2027.

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Contactless Payments Market Competitive Analysis:

Leading market players in global Contactless Payments Market include K Ring, Mc LEAR Ltd., Cnick Ring, OPN Ring, Token Ring, Xenxo S - Ring. These players have adopted various strategies including expansions, mergers & acquisitions, joint ventures, new product launches, and collaborations to gain a strong position in the industry.

Covid-19 Impact on the Global Contactless Payments Market:

Contactless Payments Market Research Report provides an overview of the industry based on key parameters such as market size, sales, sales analysis and key drivers. The market size of the market is expected to grow on a large scale during the forecast period (2021-2027). This report covers the impact of the latest COVID-19 on the market. The coronavirus pandemic (COVID-19) has affected all aspects of life around the world. This has changed some of the market situation. The main purpose of the research report is to provide users with a broad view of the market. Initial and future assessments of rapidly.

COVID-19 Scenario:

Due to the global pandemic all over the world, the medical devices manufacturers are majorly focusing on research and development of new products.
However, due to the precautionary measures taken by governments in various regions, the supply chain has been hampered. Which may result in shortage of products in certain locations.
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Contactless Payments Market Segmentation:

The research offers a detailed segmentation of the global Contactless Payments Market. Key segments analyzed in the research by end user, application, and region and geography. Extensive analysis of sales, revenue, growth rate, and market share of each for the historic period and the forecast period is offered with the help of tables.

Contactless Payments Market Regional Analysis:

The market is analyzed based on regions and competitive landscape in each region is mentioned. Regions discussed in the study include North America (United States, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), South America (Brazil, Argentina, and Colombia), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa). These insights help to devise strategies and create new opportunities to achieve exceptional results.

Key findings of the study

By device type, the smartphones & wearables segment led the contactless payment market size, in terms of revenue in 2019.
By application, the food & groceries segment led the contactless payment market share, size, in terms of revenue in 2019.
By region, Europe generated the highest revenue in 2019.
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The contactless payment industry has experienced significant impact on revenue, owing to imposition of lockdowns & shutdowns, several regulatory changes in existing frameworks took place globally. Therefore, in order to curb the spread of virus, several retail stores have adopted contactless payments and have limited the number of consumers in their stores, improved their sanitization regimen, and introduced social distancing markers. Therefore, rise in adoption of contactless payment technologies and increase in investments toward new payment compliances resulted in significant revenue growth for contactless payment solution providers globally.

Get more info about contactless payments market @ https://www.globenewswire.com/news-release/2021/01/15/2159420/0/en/Contactless-Payments-Market-to-Reach-5-424-Billion-by-2027-at-20-6-CAGR-Get-Exclusive-Report-of-250-Pages.html

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