Global contactless payment market size was US$ 1,493.2 billion in 2020 and expected to reach US$ 5,490.2 million by 2027; this converts into a compound annual growth rate (CAGR) of 21.1% for the forecast period.
The report contains some of the valuable information with regards to their outlook, in terms of their finances, product portfolios, investment plans, and business and marketing strategies. Moreover, the report also comprises of the SWOT analysis, a business overview, and revenue generation information of the industry pioneers in the Global Contactless Payment Market.
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Scope of the report:
The Global Contactless Payment Market report provides an overview of the Contactless Payment industry by studying various key segments and sub-segments, on the basis of specification, application, end-users, and geography. The geographical analysis of the Global Contactless Payment Market is on a global and regional scale, the result of which is used to evaluate the performance of the global market over the forecast period.
Some of the key players operating in the global contactless payment market includes: Gemalto N.V., Giesecke & Devrient GmbH, Visa Inc., Heartland Payment Systems, Verifone Systems Inc., Ingenico Group SA, On Track Innovations (OTI) Ltd, IDEMIA, Thales Group, Wirecard AG among others. Most of the players are focusing on implementing several types of technology to expand their payment platform performance. In order to increase speed, convenience and speed for retail payment applications, vendors are integrating blockchain technology. They are also focusing on business strategies, such as product launch, collaborations and partnerships to enhance product portfolios and increase customer base.
The report focuses on the key developments in the global Contactless Payment market, especially in North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. It also provides a details analysis of the Global Contactless Payment Market, including empowering technologies, key market trends, development patterns, growth drivers, restraints, challenges, threats, potential opportunities, standardization, value chain, regulatory landscape, future estimates, and key methodologies.
Based on the device, smartphones & wearables segment accounted for the largest market share
On the basis of application, entertainment is the fastest growth segment
On the basis of region, Europe held the largest market share in the year 2020
Contactless Payment Market Recent News:
In November 2020, IDEMIA launched contactless full metal payment card that deliver secure, high-quality and hassle free payment services to affluent customers worldwide.
In October 2020, Mastercard established partnership with IDEMIA to delivers fingerprint biometric card in Asia pacific region. It delivers consumers convenient, safe and secure contactless payment services across the region.
In August 2020, EVO Payments, Inc. partnered with On Track Innovations LTD. to provide contactless payment solution for retail business. In addition, this partnership offers EMV-certified solutions that allows merchant to easily accept cashless and contactless payments in their business.
In January 2020, The Cardknox established partnership with PAX Technology, Inc. to integrate Pax S920 wireless terminal within payment processing systems. The new integration enables retail, hospitality, and restaurant industries to support multiple payment methods like magstripe, contactless (NFC) cards and EMV quick chip.
Points Covered in The Report:
The key points mentioned in the Global Contactless Payment Market report include the leading competitors functioning in the global market.
The report also includes the company profiles of the companies operating in the global market.
The production, manufacture, sales, future strategies, and the technological advancements of the leading players are also included in the report.
The growth factors of the Global Contactless Payment Market is discussed thoroughly, wherein the different end-users of the market are explained meticulously.
The report also discusses the key application areas of the global market, hence providing a precise description of the market to the readers/users.
The report comprises the SWOT analysis of the market. In the last section, the report consists of the opinions of the industry experts and professionals. The experts within the industry are in an effort to analyze the export/import policies that are positively influencing the growth of the Global Contactless Payment Market.
The report on the Global Contactless Payment Market is a valuable source of information for every enthusiast, policymaker, stakeholder, investor, service provider, supplier, manufacturer, and player interested in buying this research document.
Reasons for Buying Global Contactless Payment Market Report:
The report provides a detailed analysis of the changing competitive landscape that keeps the reader/client ahead of the competitors.
It also provides an in-depth view of the different factors driving or restraining the growth of the global market.
The Global Contactless Payment Market report provides an eight-year forecast evaluated on the basis of how the market is estimated to grow.
It assists in making informed business decisions by having thorough insights into the global market and by making a comprehensive analysis of the key market segments and sub-segments.
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