$46.80 Bn Proximity Payment Market Expected with Companies Offerings By Application Segments 2032 | At CAGR of 12.9%

Increase in adoption of smartphones and access to high-speed internet and increase in use of proximity payments among merchants drive growth of the global proximity payment market. As the popularity of mobile-based proximity payments has increased, there is a massive expansion & growth in mobile point of sale (mPOS) infrastructure in the market. Moreover, there is a rise in trend in the mPOS infrastructure, which further indicates rapid migration toward a cashless system and enhances emergence of in-person payment experiences. Restaurants, retailers, and merchants are the largest end user segments that adopted proximity payments method in their existing businesses.

According to the report published by Allied Market Research, the global proximity payment market generated $13.98 billion in 2020, and is expected to reach $46.80 billion by 2030, exhibiting a CAGR of 12.9% from 2021 to 2030. The report delivers in-depth data related to key players, restraints, key drivers, and opportunities with detailed impact analysis.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 & 𝐓𝐎𝐂 : https://www.alliedmarketresearch.com/request-sample/10407

Rise in penetration of smartphones, availability of high-speed internet, widespread adoption of proximity payments among merchants and customers, and attractive benefits offered by proximity payments are some of the factors driving the global proximity payment market growth.

However, difficulties in replacing point-of-sale (POS) solutions and increase in data breaches and security issues while performing payments hinder the market growth. On the other hand, factors such as increase in acceptance of proximity payments in developing economies and rapid digitalization are expected to open many doors of opportunities to the market.

COVID-19 Scenario:

COVID-19 pandemic impacted the global proximity payment industry significantly owing to social distancing regulations, which encouraged adoption of contactless payments and increased usage of online & digital payment methods.
Banks and retailers are responding by expanding limits on their proximity payment transactions to allow higher-value payments.
The global proximity payment market is segmented into the offering, solution, application, and region. Based on offering, the solution segment held the largest market share in 2020, contributing to more than three-fourths of the total share, and is expected to maintain the lead throughout the forecast period. On the other hand, the service segment is projected to witness the fastest CAGR of 14.7% from 2021 to 2030.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/10407

Based on application, the grocery stores segment contributed to the largest share in 2020, accounting for nearly one-third of the global proximity payment market. The same segment is expected to lead the market during the forecast period. However, the entertainment centre's segment is expected to manifest the highest CAGR of 14.4% from 2021 to 2030. 

Based on region, Europe contributed to the highest share in 2020, followed by Asia-Pacific and North America, holding nearly two-fifths of the total share. On the other hand, North America is anticipated to manifest the fastest CAGR of 14.3% during the forecast period. 

𝐈𝐟 𝐲𝐨𝐮 𝐡𝐚𝐯𝐞 𝐚𝐧𝐲 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐫𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬, 𝐫𝐞𝐪𝐮𝐞𝐬𝐭 𝐜𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧@ https://www.alliedmarketresearch.com/request-for-customization/10407

Leading players of the global proximity payment market analyzed in the research include PayPal Holdings Inc., Alphabet Inc. (Google), Apple Inc., ACI Worldwide, Inc., FIS, Ingenico, Mastercard, IDEMIA, Square, Inc., and Visa Inc. These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.

Key Benefits for Stakeholders

The study provides in-depth analysis of the global proximity payment market share along with current trends and future estimations to illustrate the imminent investment pockets.
Information about key drivers, restrains, and opportunities and their impact analysis on the global proximity payment market size are provided in the report.
Porter's five forces analysis illustrates the potency of buyers and suppliers operating in the proximity payment market.
An extensive analysis of the key segments of the industry helps to understand the proximity payment market trends.
The quantitative analysis of the global proximity payment market forecast from 2021 to 2030 is provided to determine the market potential. 

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𝐓𝐨𝐩 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:
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M-commerce Payment Market https://www.alliedmarketresearch.com/m-commerce-payment-market-A06002
P2P Payment Market https://www.alliedmarketresearch.com/P2P-payment-market
Proximity Payment Market https://www.alliedmarketresearch.com/proximity-payment-market-A10042
QR Codes Payment Market https://www.alliedmarketresearch.com/qr-codes-payment-market-A13075
NFC Payment Devices Market https://www.alliedmarketresearch.com/nfc-payment-devices-market-A11317

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