The Contactless Payments Market report is a complete overview of the market, covering various aspects product definition, segmentation based on various parameters, and the prevailing vendor landscape. Analysis and discussion of important industry trends, market size, market share estimates are mentioned in the report. This study also analyzes the market status, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter’s Five Forces Analysis. In this part, the Contactless Payments Market report presents the company profile, product specifications, capacity, production value, and 2018-2025 market shares for each company.
The mobile payment industry has evolved over the past decade with advanced technologies and innovative developments by the key players for providing ease of payment using devices such as mobile handsets, point of sale terminals, NFC chips, smart cards, and others. Contactless payment systems comprise smart cards or other devices that integrate RFID or NFC technologies for making secure and contactless payment. Unlike mobile payments that are done through the internet, contactless payments are carried out in close physical proximity preventing unauthorized access during the transaction(s).
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The global contactless payments market is driven by reduced transaction time, convenience in processing low-value payments, and increased revenue opportunities. However, high costs involved for the installation of EPOS terminals and lower rate of adoption hamper the contactless payments market growth.
According to this study, over the next five years the Contactless Payments market will register a 23.1% CAGR in terms of revenue, the global market size will reach US$ 81600 million by 2023, from US$ 23400 million in 2017. In particular, this report presents the global revenue market share of key companies in Contactless Payments business.
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Ingenico Group, Verifone Systems, Inc., Inside Secure, on Track Innovations, Oberthur Technologies SA, Proxama, PLC., Wirecard AG, Giesecke & Devrient GmbH, Gemalto N.V. and Heartland Payment Systems, Inc..
This study considers the Contactless Payments value generated from the sales of the following segments:
Segmentation by product type:
- Payment Terminal Solution
- Transaction Management
- Hosted Point-of-sale
Segmentation by application:
- IT & Telecom
This report also splits the market by region:
- Middle East & Africa
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key players and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
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Highlights of the report
- Detailed overview of the market
- Key developments and product launches in the market
- Key parameters which are driving the market
- Strategies of key players and product offerings
- In-depth market segmentation
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