Contactless Payment Market Industry Growth Estimate, Strategy & Application

The global contactless payment market size was valued at USD 34.55 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 19.1% from 2022 to 2030.

Customers benefit from contactless payments because they feel less friction and have a better shopping experience. Positive outcomes are provided by shorter transaction times, albeit these outcomes also rely on how many transactions are completed at peak times. Additionally, it is anticipated that government efforts and recent developments in networking infrastructure would fuel industry expansion. Many governments all around the world are urging businesses to use cutting-edge payment methods. The market for contactless payments is expanding as a result of greater use of technologies that lower operating costs and offer convenience and efficient services.

The expense of implementing contactless payment systems is likely to significantly impede market expansion. Additionally, it is anticipated that the expansion of the market would be constrained during the forecast period by a lack of confidence brought on by security worries, data theft, and unlawful use of contactless payment methods. It's expected that growing cyberattacks and a lack of infrastructure in developing nations would impede business expansion. Financial regulators must spread knowledge on safe, scalable contactless payment technologies and raise public awareness of them to help the sector expand.

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Global Contactless Payment Market: Major Players
Paypal Inc
Visa Inc
Ingenico Group
On Track innovations
Giesecke & Devrient GmbH
Proxama, PLC
Oberthur Technologies Sa
Heartland Payment Systems
Inside Secure
Renesas Electronic Corp
America Express Co
Verifone Systems
Opus Software Solutions
Wirecard AG
Microsoft Corporation
Thales
Gemalto N.V
MasterCard Worldwide

Global Contactless Payment Market: By Types
Smart Cards
NFC Chips
Point of Sale Terminals
Mobile Handsets
Other Devices

Global Contactless Payment Market: By Applications
Managed Services
Professional Services
Multi-Channel Payment

Global Contactless Payment Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Contactless Payment market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

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