The global contactless payment market is anticipated to grow at a CAGR of around 11.5% during the forecast period 2020 to 2027 and to reach around US$ 672.0 Bn by 2027.
Market Dynamics
Government of developed and developing countries is focused on adopting cashless economy system and consumers are adopting cards and online payment systems for day to day payment. In 2016, more than 95% of Canadian credit cards were contactless and over 75% of retailers accept contactless payments. This are some major factors expected to drive the growth of the global market.
The government of developing economies is focused on lowering the incidences of frauds by implementing various rules and regulation in order to facilitate easy payment system. This is another factor expected to support the growth of target market. Collaborative work between the public and private players in order to facilitate the secure transaction system is expected to further support the growth of target market
- In 2019, Government e-Marketplace partnered with Central Bank of India in order to offer an array of services including transfer of funds through GeM Pool Accounts (GPA), advising of electronic Performance Bank Guarantees (e-PBG) and Earnest Money Deposit (EMD) to the registered users on the portal.
Major players are focused on increasing the customer base and enhance the profit ratio through strategic merger and partnerships are expected to impact the growth of the global market. Major players focus on partnering with the small and mid-size enterprises overseas in order to increase the regional presence.
- In 2019, Global Payments Inc., partnered with Desjardins Group, the leading cooperative financial group in Canada. As per the agreements Global Payments Inc would acquire its existing merchant acquiring business and portfolio of approximately 40,000 merchants. This will help the company to strengthen its position in Canada market.
However, rising concern related to data security and lack of advanced infrastructure in developing countries are factors expected to hamper the growth of global market. In addition, high cost associated to deployment of contactless technologies is expected to challenge the growth of target market.
High investment by major players for development of present online payment infrastructure and data security and introduction of new payment system are factor expected to attract new customers further expected to create new opportunities over the forecast period.
Contactless Payment Market Segment Analysis, 2019
The global contactless payment market is segmented into device, solution, and application. The device segment is bifurcated into Smartphone and wearable, point-of-sale terminals, and smart cards. Among device type the point-of-sale terminals segment is expected to witness faster growth over the forecast period.
Segment Analysis by Region
The market in North America is expected to account for major revenue share owing to availability of advanced infrastructure in order to carry easy online and card payments. In addition, presence of major players operating in the country, coupled with approach towards increasing the customer base is expected to impact the target market growth in this region.
Asia Pacific is expected to witness faster growth in the near future owing to high government spending on development of present payment infrastructure. In addition, developing regulation related to online payment and collaborative work is another factor expected to support the growth of target market in this region.
Competitive Landscape
Presence of large number of players operating on regional and international level is increasing the competition. In addition, business development activities and introduction of new apps and payment system are factors further augmenting the market competition.
Report coverage
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Market
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Global Contactless Payment Market
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Analysis Period
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2016 – 2027
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Base Year
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2019
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Forecast Data
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2020 – 2027
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Market Stratification
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Device, System, Application and Geography
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Regional Scope
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North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
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Report Coverage
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Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis
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The market research study on “Contactless Payment Market (Device: Smartphone and wearable, Point-of-sale terminals, and Smart cards; System: Payment terminal solution, Transaction management, Security and fraud management, and Hosted point-of-sale Analytics; Application: Retail, Transportation, Healthcare, Hospitality, and Government) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2020. - 2027”, offers a detailed insights on the global contactless payment market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights on global contactless payment market device, system, application and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global contactless payment market size and segment markets by device, system, application and geography along with the information on companies operating in the market. The contactless payment market analysis is provided for major regional market including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report. The players profiled in the report Gemalto, Visa Inc., Giesecke & Devrient GmbH, Heartland Payment Systems, Verifone, Ingenico Group SA, On Track Innovations Ltd., Oberthur Technologies (OT) Morpho, Thales Group, and Wirecard AG.
Market Segmentation
Market By Device
- Smartphone and wearable
- Point-of-sale terminals
- Smart cards
Market By System
- Payment terminal solution
- Transaction management
- Security and fraud management
- Hosted point-of-sale
- Analytics
Market By Application
- Retail
- Transportation
- Healthcare
- Hospitality
- Government
Market By Region
North America
Europe
- UK
- Germany
- France
- Spain
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest if Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Meddle East & Africa
Table Of Content:
CHAPTER 1. INDUSTRY OVERVIEW
1.1. Definition and Scope
1.1.1. Definition of Contactless Payment
1.1.2. Market Segmentation
1.1.3. List of Abbreviations
1.2. Summary
1.2.1. Market Snapshot
1.2.2. Contactless Payment Market By Device
1.2.2.1. Global Contactless Payment Market Revenue and Growth Rate Comparison By Device(2016-2027)
1.2.2.2. Global Contactless Payment Market Revenue Share By Device in 2019
1.2.2.3. Smartphone and wearable
1.2.2.4. Point-of-sale terminals
1.2.2.5. Smart cards
1.2.3. Contactless Payment Market By System
1.2.3.1. Global Contactless Payment Market Revenue and Growth Rate Comparison By System (2016-2027)
1.2.3.2. Global Contactless Payment Market Revenue Share By System in 2019
1.2.3.3. Payment terminal solution
1.2.3.4. Transaction management
1.2.3.5. Security and fraud management
1.2.3.6. Hosted point-of-sale
1.2.3.7. Analytics
1.2.4. Contactless Payment Market By Application
1.2.4.1. Global Contactless Payment Market Revenue and Growth Rate Comparison By Application(2016-2027)
1.2.4.2. Global Contactless Payment Market Revenue Share By Application in 2019
1.2.4.3. Retail
1.2.4.4. Transportation
1.2.4.5. Healthcare
1.2.4.6. Hospitality
1.2.4.7. Government
1.2.5. Contactless Payment Market By Geography
1.2.5.1. Global Contactless Payment Market Revenue and Growth Rate Comparison by Geography (2016-2027)
1.2.5.2. North America Contactless Payment Market Revenue and Growth Rate(2016-2027)
1.2.5.3. Europe Contactless Payment Market Revenue and Growth Rate(2016-2027)
1.2.5.4. Asia-Pacific Contactless Payment Market Revenue and Growth Rate(2016-2027)
1.2.5.5. Latin America Contactless Payment Market Revenue and Growth Rate(2016-2027)
1.2.5.6. Middle East and Africa (MEA)Contactless Payment Market Revenue and Growth Rate(2016-2027)
CHAPTER 2. MARKET DYNAMICS AND COMPETITION ANALYSIS
2.1. Market Drivers
2.2. Restraints and Challenges
2.3. Growth Opportunities
2.4. Porter’s Five Forces Analysis
2.4.1. Bargaining Power of Suppliers
2.4.2. Bargaining Power of Buyers
2.4.3. Threat of Substitute
2.4.4. Threat of New Entrants
2.4.5. Degree of Competition
2.5. Value Chain Analysis
2.6. Cost Structure Analysis
2.6.1. Raw Material and Suppliers
2.6.2. Manufacturing Process Analysis
2.7. Regulatory Compliance
2.8. Competitive Landscape, 2019
2.8.1. Player Positioning Analysis
2.8.2. Key Strategies Adopted By Leading Players
CHAPTER 3. MANUFACTURING CONTACTLESS PAYMENT ANALYSIS
3.1. Capacity and Commercial Production Date of Global Contactless Payment Major Manufacturers in 2019
3.2. Manufacturing Plants Distribution of Global Contactless Payment Major Manufacturers in 2019
3.3. R&D Status and Manufacturing End-User of Global Contactless Payment Major Manufacturers in 2019
3.4. Raw Materials End-Users Analysis of Global Contactless Payment Major Manufacturers in 2019
CHAPTER 4. CONTACTLESS PAYMENT MARKET BY DEVICE
4.1. Global Contactless Payment Revenue By Device
4.2. Smartphone and wearable
4.2.1. Market Revenue and Growth Rate, 2016 - 2027 ($Million)
4.2.2. Market Revenue and Forecast, By Region, 2016 - 2027 ($Million)
4.3. Point-of-sale terminals
4.3.1. Market Revenue and Growth Rate, 2016 - 2027 ($Million)
4.3.2. Market Revenue and Forecast, By Region, 2016 - 2027 ($Million)
4.4. Smart cards
4.4.1. Market Revenue and Growth Rate, 2016 - 2027 ($Million)
4.4.2. Market Revenue and Forecast, By Region, 2016 - 2027 ($Million)
CHAPTER 5. CONTACTLESS PAYMENT MARKET BY SYSTEM
5.1. Global Contactless Payment Revenue By System
5.2. Payment terminal solution
5.2.1. Market Revenue and Growth Rate, 2016 - 2027 ($Million)
5.2.2. Market Revenue and Forecast, By Region, 2016 - 2027 ($Million)
5.3. Transaction management
5.3.1. Market Revenue and Growth Rate, 2016 - 2027 ($Million)
5.3.2. Market Revenue and Forecast, By Region, 2016 - 2027 ($Million)
5.4. Security and fraud management
5.4.1. Market Revenue and Growth Rate, 2016 - 2027 ($Million)
5.4.2. Market Revenue and Forecast, By Region, 2016 - 2027 ($Million)
5.5. Hosted point-of-sale
5.5.1. Market Revenue and Growth Rate, 2016 - 2027 ($Million)
5.5.2. Market Revenue and Forecast, By Region, 2016 - 2027 ($Million)
5.6. Analytics
5.6.1. Market Revenue and Growth Rate, 2016 - 2027 ($Million)
5.6.2. Market Revenue and Forecast, By Region, 2016 - 2027 ($Million)
CHAPTER 6. CONTACTLESS PAYMENT MARKET BY APPLICATION
6.1. Global Contactless Payment Revenue By Application
6.2. Retail
6.2.1. Market Revenue and Growth Rate, 2016 - 2027 ($Million)
6.2.2. Market Revenue and Forecast, By Region, 2016 - 2027 ($Million)
6.3. Transportation
6.3.1. Market Revenue and Growth Rate, 2016 - 2027 ($Million)
6.3.2. Market Revenue and Forecast, By Region, 2016 - 2027 ($Million)
6.4. Healthcare
6.4.1. Market Revenue and Growth Rate, 2016 - 2027 ($Million)
6.4.2. Market Revenue and Forecast, By Region, 2016 - 2027 ($Million)
6.5. Hospitality
6.5.1. Market Revenue and Growth Rate, 2016 - 2027 ($Million)
6.5.2. Market Revenue and Forecast, By Region, 2016 - 2027 ($Million)
6.6. Government
6.6.1. Market Revenue and Growth Rate, 2016 - 2027 ($Million)
6.6.2. Market Revenue and Forecast, By Region, 2016 - 2027 ($Million)
CHAPTER 7. NORTH AMERICA CONTACTLESS PAYMENT MARKET BY COUNTRY
7.1. North America Contactless Payment Market Revenue and Growth Rate, 2016 - 2027 ($Million)
7.2. North America Contactless Payment Market Revenue Share Comparison, 2016 & 2027 (%)
7.3. U.S.
7.3.1. U.S. Contactless Payment Market Revenue and Forecast By Device, 2016 - 2027 ($Million)
7.3.2. Market Revenue and Forecast By System, 2016 - 2027 ($Million)
7.3.3. Market Revenue and Forecast By Application, 2016 - 2027 ($Million)
7.4. Canada
7.4.1. Market Revenue and Forecast By Device, 2016 - 2027 ($Million)
7.4.2. Market Revenue and Forecast By System, 2016 - 2027 ($Million)
7.4.3. Market Revenue and Forecast By Application, 2016 - 2027 ($Million)
CHAPTER 8. EUROPE SMART REFRIGERATOR MARKET BY COUNTRY
8.1. Europe Contactless Payment Market Revenue and Growth Rate, 2016 - 2027 ($Million)
8.2. Europe Contactless Payment Market Revenue Share Comparison, 2016 & 2027 (%)
8.3. UK
8.3.1. Market Revenue and Forecast By Device, 2016 - 2027 ($Million)
8.3.2. Market Revenue and Forecast By System, 2016 - 2027 ($Million)
8.3.3. Market Revenue and Forecast By Application, 2016 - 2027 ($Million)
8.4. Germany
8.4.1. Market Revenue and Forecast By Device, 2016 - 2027 ($Million)
8.4.2. Market Revenue and Forecast By System, 2016 - 2027 ($Million)
8.4.3. Market Revenue and Forecast By Application, 2016 - 2027 ($Million)
8.5. France
8.5.1. Market Revenue and Forecast By Device, 2016 - 2027 ($Million)
8.5.2. Market Revenue and Forecast By System, 2016 - 2027 ($Million)
8.5.3. Market Revenue and Forecast By Application, 2016 - 2027 ($Million)
8.6. Spain
8.6.1. Market Revenue and Forecast By Device, 2016 - 2027 ($Million)
8.6.2. Market Revenue and Forecast By System, 2016 - 2027 ($Million)
8.6.3. Market Revenue and Forecast By Application, 2016 - 2027 ($Million)
8.7. Rest of Europe
8.7.1. Market Revenue and Forecast By Device, 2016 - 2027 ($Million)
8.7.2. Market Revenue and Forecast By System, 2016 - 2027 ($Million)
8.7.3. Market Revenue and Forecast By Application, 2016 - 2027 ($Million)
CHAPTER 9. ASIA-PACIFIC CONTACTLESS PAYMENT MARKET BY COUNTRY
9.1. Asia-Pacific Contactless Payment Market Revenue and Growth Rate, 2016 - 2027 ($Million)
9.2. Asia-Pacific Contactless Payment Market Revenue Share Comparison, 2016 & 2027 (%)
9.3. China
9.3.1. Market Revenue and Forecast By Device, 2016 - 2027 ($Million)
9.3.2. Market Revenue and Forecast By System, 2016 - 2027 ($Million)
9.3.3. Market Revenue and Forecast By Application, 2016 - 2027 ($Million)
9.4. Japan
9.4.1. Market Revenue and Forecast By Device, 2016 - 2027 ($Million)
9.4.2. Market Revenue and Forecast By System, 2016 - 2027 ($Million)
9.4.3. Market Revenue and Forecast By Application, 2016 - 2027 ($Million)
9.5. India
9.5.1. Market Revenue and Forecast By Device, 2016 - 2027 ($Million)
9.5.2. Market Revenue and Forecast By System, 2016 - 2027 ($Million)
9.5.3. Market Revenue and Forecast By Application, 2016 - 2027 ($Million)
9.6. Australia
9.6.1. Market Revenue and Forecast By Device, 2016 - 2027 ($Million)
9.6.2. Market Revenue and Forecast By System, 2016 - 2027 ($Million)
9.6.3. Market Revenue and Forecast By Application, 2016 - 2027 ($Million)
9.7. South Korea
9.7.1. Market Revenue and Forecast By Device, 2016 - 2027 ($Million)
9.7.2. Market Revenue and Forecast By System, 2016 - 2027 ($Million)
9.7.3. Market Revenue and Forecast By Application, 2016 - 2027 ($Million)
9.8. Rest of Asia-Pacific
9.8.1. Market Revenue and Forecast By Device, 2016 - 2027 ($Million)
9.8.2. Market Revenue and Forecast By System, 2016 - 2027 ($Million)
9.8.3. Market Revenue and Forecast By Application, 2016 - 2027 ($Million)
CHAPTER 10. LATIN AMERICA CONTACTLESS PAYMENT MARKET BY COUNTRY
10.1. Latin America Contactless Payment Market Revenue and Growth Rate, 2016 - 2027 ($Million)
10.2. Latin America Contactless Payment Market Revenue Share Comparison, 2016 & 2027 (%)
10.3. Brazil
10.3.1. Market Revenue and Forecast By Device, 2016 - 2027 ($Million)
10.3.2. Market Revenue and Forecast By System, 2016 - 2027 ($Million)
10.3.3. Market Revenue and Forecast By Application, 2016 - 2027 ($Million)
10.4. Mexico
10.4.1. Market Revenue and Forecast By Device, 2016 - 2027 ($Million)
10.4.2. Market Revenue and Forecast By System, 2016 - 2027 ($Million)
10.4.3. Market Revenue and Forecast By Application, 2016 - 2027 ($Million)
10.5. Rest of Latin America
10.5.1. Market Revenue and Forecast By Device, 2016 - 2027 ($Million)
10.5.2. Market Revenue and Forecast By System, 2016 - 2027 ($Million)
10.5.3. Market Revenue and Forecast By Application, 2016 - 2027 ($Million)
CHAPTER 11. MIDDLE EAST & AFRICA CONTACTLESS PAYMENT MARKET BY COUNTRY
11.1. Middle East & Africa Contactless Payment Market Revenue and Growth Rate, 2016 - 2027 ($Million)
11.2. Middle East & Africa Contactless Payment Market Revenue Share Comparison, 2016 & 2027 (%)
11.3. GCC
11.3.1. Market Revenue and Forecast By Device, 2016 - 2027 ($Million)
11.3.2. Market Revenue and Forecast By System, 2016 - 2027 ($Million)
11.3.3. Market Revenue and Forecast By Application, 2016 - 2027 ($Million)
11.4. South Africa
11.4.1. Market Revenue and Forecast By Device, 2016 - 2027 ($Million)
11.4.2. Market Revenue and Forecast By System, 2016 - 2027 ($Million)
11.4.3. Market Revenue and Forecast By Application, 2016 - 2027 ($Million)
11.5. Rest of Middle East & Africa
11.5.1. Market Revenue and Forecast By Device, 2016 - 2027 ($Million)
11.5.2. Market Revenue and Forecast By System, 2016 - 2027 ($Million)
11.5.3. Market Revenue and Forecast By Application, 2016 - 2027 ($Million)
CHAPTER 12. COMPANY PROFILE
12.1. Gemalto
12.1.1. Company Snapshot
12.1.2. Overview
12.1.3. Financial Overview
12.1.4. Product Portfolio
12.1.5. Key Developments
12.1.6. Strategies
12.2. Visa Inc.
12.2.1. Company Snapshot
12.2.2. Overview
12.2.3. Financial Overview
12.2.4. Product Portfolio
12.2.5. Key Developments
12.2.6. Strategies
12.3. Giesecke & Devrient GmbH
12.3.1. Company Snapshot
12.3.2. Overview
12.3.3. Financial Overview
12.3.4. Product Portfolio
12.3.5. Key Developments
12.3.6. Strategies
12.4. Heartland Payment Systems
12.4.1. Company Snapshot
12.4.2. Overview
12.4.3. Financial Overview
12.4.4. Product Portfolio
12.4.5. Key Developments
12.4.6. Strategies
12.5. Verifone
12.5.1. Company Snapshot
12.5.2. Overview
12.5.3. Financial Overview
12.5.4. Product Portfolio
12.5.5. Key Developments
12.5.6. Strategies
12.6. Ingenico Group SA
12.6.1. Company Snapshot
12.6.2. Overview
12.6.3. Financial Overview
12.6.4. Product Portfolio
12.6.5. Key Developments
12.6.6. Strategies
12.7. On Track Innovations Ltd.
12.7.1. Company Snapshot
12.7.2. Overview
12.7.3. Financial Overview
12.7.4. Product Portfolio
12.7.5. Key Developments
12.7.6. Strategies
12.8. Oberthur Technologies (OT) Morpho
12.8.1. Company Snapshot
12.8.2. Overview
12.8.3. Financial Overview
12.8.4. Product Portfolio
12.8.5. Key Developments
12.8.6. Strategies
12.9. Thales Group
12.9.1. Company Snapshot
12.9.2. Overview
12.9.3. Financial Overview
12.9.4. Product Portfolio
12.9.5. Key Developments
12.9.6. Strategies
12.10. Wirecard AG
12.10.1. Company Snapshot
12.10.2. Overview
12.10.3. Financial Overview
12.10.4. Product Portfolio
12.10.5. Key Developments
12.10.6. Strategies
12.11. Others
12.11.1. Company Snapshot
12.11.2. Overview
12.11.3. Financial Overview
12.11.4. Product Portfolio
12.11.5. Key Developments
12.11.6. Strategies
CHAPTER 13. RESEARCH APPROACH
13.1. Research Methodology
13.1.1. Initial Data Search
13.1.2. Secondary Research
13.1.3. Primary Research
13.2. Assumptions and Scope
