Contactless Payment Terminals Market Technological Trends and Business Opportunities 2021 To 2025 - OTI Global, VeriFone Systems Inc, Visionte

The Market Insights Reports has added a new statistical data to its repository titled as, Global Contactless Payment Terminals Market. It provides the industry overview with market growth analysis with a historical & futuristic perspective for the following parameters; cost, revenue, demands, and supply data (as applicable). Furthermore, the report also sheds light on recent developments and technological platforms, in addition to distinctive tools, and methodologies that will help to propel the performance of industries. It also presents a futuristic growth outlook of the Contactless Payment Terminals Market in a pre- and post-COVID-19 scenario.

The global contactless payment terminals market was valued at USD 13.23billion in 2019 and is expected to reach USD 51.07 billion by the end of 2025, growing at a CAGR of 25.86% during the forecast year (2020 - 2025).

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Top Key Players in the Global Contactless Payment Terminals Market are Thales Group (Gemalto NV), OTI Global, VeriFone Systems Inc, Visiontek, Ingenico Group SA, Hewlett Packard Enterprise, Castles Technologies, ID Tech Solutions, and others.  

Scope of the Report:

Contactless payment systems are credit card, debit cards, smart cards or other devices, including smartphones and other mobile devices that uses radio-frequency identification (RFID) or near field communication (NFC, e.g Google Pay, Apple Pay, Fitbit Pay, Merpay or any bank mobile application that support Contactless) for making secure payments. Contactless Payment can be made with different technologies like Bluetooth, NFC, RFID which can be used for payment modes with various device like PoS, MPoS, etc across different industries.

Key Market Trend:

Increasing Internet Penetration to Drive the Contactless Payment Terminals Market

- The growth of the contactless payment terminals market will be driven by internet penetration as a strong internet connection is the backbone of this payment method.
- The number of internet users in 2018 reached more than 4 billion, depicting a 7% year-on-year growth rate.
- Moreover, with increasing digitization and smart cities, people will be more inclined towards contactless payment methods as they offer convenience and quicker checkout time.
- Also, smartphone manufacturers are coming out with contactless payment methods such as Samsung Pay. All this will aid the contactless payment terminals market to grow.
- Moreover, North America has the highest internet penetration rate followed by Europe, Australia, Latin America. The world average of internet penetration rate is 56.80 %. With increasing penetration level of the internet, people are adapting themselves to new technology and they are becoming more technology oriented. This boost the contactless payment market.
- Applications like Google Pay, Apple Pay, Samsung Pay & many more are driving the market by providing easy to use, one tap money transfer, rewards and lot of other perks.

Investigator Observers Strong Growth in Specific Regions:

– North America (United States, Canada, Mexico)
– Europe (Germany, UK, France, Italy, Spain, Russia)
– Asia-Pacific (China, Japan, South Korea, Australia, India)
– South America (Brazil, Argentina, Columbia)
– The Middle East and Africa (UAE, Egypt, South Africa)        

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Important Features that are under Offering and Key Highlights of the Reports:

– Detailed overview of Market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application etc.
– Historical, current and projected market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of Contactless Payment Terminals Market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth     

Frequently Asked Questions about Contactless Payment Terminals Market:

–   Who are the key players operating in the Contactless Payment Terminals Market?
–   Which is the leading segment in the market?
–   At What CAGR is the market projected to grow in the forecast period (2021-2025)?
–   What is the key factor driving the market?
–   Which data rates would lead the market during the forecast period?
–   Which region is expected to dominate the Contactless Payment Terminals Market in the next five years?

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This release was published on openPR.