+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

Contactless Payment Market by Component (Hardware (PoS and Cards), Solutions, and Services (Consulting, Integration and Deployment, and Support and Maintenance)), Vertical (Retail and Hospitality), and Region - Global Forecast to 2025

  • PDF Icon

    Report

  • 166 Pages
  • March 2020
  • Region: Global
  • Markets and Markets
  • ID: 5008198

The global contactless payment market size is expected to grow from USD 10.3 billion in 2020 to USD 18.0 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 11.7% during the forecast period. The major advantage offered by contactless payments is that customers can instantly complete transactions with the tap of a card. This increases the speed of transactions, making contactless payments even more efficient. With the increasing integration of contactless payment technologies in mobile handsets and smartphones, the demand for contactless payment solutions has grown tremendously across all the countries.

Based on hardware, the Point of Sale (POS) segment to lead the contactless payment market in 2020

POS is a point where customers make payments to retailers. The POS terminal is an electronic device used to process payment transactions at retail stores. These terminals have seen significant growth in the contactless payment market because of various benefits, such as ease of use, low deployment cost, and mobility. Contactless payments have completely changed the way customers pay for goods; eventually, it has also reduced the time spent on queuing at POS terminals.

Based on the vertical, the retail vertical to lead the contactless payment market in 2020

The retail vertical is undergoing a major transformation. Retailers are modernizing their brick-and-mortar stores to provide improved services for customers and establish online stores to increase revenues. They are adopting innovative technologies, such as cloud computing, big data analytics, digital stores, and social networks, to increase their visibility and presence in the market. Retailers are also realizing the benefits of contactless payments, which include reduced transaction time, increased revenue, improved operational efficiency, and minimized operating costs. Mobile payments at retail stores have helped accelerate the transaction process and reduce counter queues.

Among regions, Europe to lead the contactless payment market in 2020

The contactless payment market in Europe is the largest in terms of market size and is highly fragmented based on multi-currencies and multi-languages. The region comprises a diverse range of countries, from economically and technologically advanced countries, such as the UK and Germany to severely debt-ridden countries, such as Greece and Austria. The UK, Poland, Spain, and Germany are the leading countries in the European contactless payment market. The total contactless spending has grown in these countries with the increasing circulation of contactless cards and terminals by card companies, such as Visa and Mastercard.

In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the contactless payment market.

The following list provides the breakup of primary respondents' profiles:


  • By Company Type: Tier 1: 35%, Tier 2: 45%, and Tier 3: 20%
  • By Designation: C level Executives: 35%, Director Level: 25%, and Others: 40%
  • By Region: North America: 45%, Europe: 20%, Asia Pacific (APAC): 30%, and Rest of the World: 5%

Major vendors in the global contactless payment market include Gemalto (Netherlands), Infineon (Germany), Ingenico (France), Wirecard (Germany), Verifone (US), Giesecke+Devrient (Germany), IDEMIA (France), On Track Innovations (Israel), Identiv (US), CPI Card Group (US), Bitel (South Korea), Setomatic Systems (US), Valitor (Iceland), PAX Global Technology (China), MYPINPAD (UK), Mobeewave (UK), Alcineo (South Africa), Castles (Taiwan), SumUp (UK), and PayCore (Istanbul).

Research coverage:

The report includes an in-depth competitive analysis of key players in the contactless payment market, along with their company profiles, recent developments, and key market strategies. The report segments the global contactless payment market by component (hardware, solutions, and services), vertical, and region.

Key benefits of buying the report:

The report would provide market leaders/new entrants in the contactless payment market, with information on the closest approximations of the revenue numbers for the overall contactless payment market and subsegments. The report would help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. It further helps stakeholders understand the pulse of the market and provides them with information on the key market drivers, restraints, challenges, and opportunities.


Table of Contents

1 Introduction
1.1 Objectives Of The Study
1.2 Market Definition
1.2.1 Inclusions And Exclusions
1.3 Market Scope
1.3.1 Market Segmentation
1.4 Years Considered For The Study
1.5 Currency Considered
1.6 Stakeholders
2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Breakup Of Primary Profiles
2.2 Market Breakup And Data Triangulation
2.3 Market Size Estimation
2.4 Market Forecast
2.5 Competitive Leadership Mapping Methodology
2.6 Assumptions For The Study
2.7 Limitations Of The Study
3 Executive Summary
4 Premium Insights
4.1 Attractive Market Opportunities In The Contactless Payment Market
4.2 Global Contactless Payment Market, By Component And Region
4.3 Contactless Payment Market, By Region
4.4 Contactless Payment Market: Investment Scenario
5 Market Overview And Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Contactless Payments Ensure Faster Transactions
5.2.1.2 Increased Customer Satisfaction And Improved Loyalty Programs
5.2.1.3 Enhanced Purchase Experience
5.2.2 Restraints
5.2.2.1 Risk Of Stolen Or Lost Contactless Cards
5.2.2.2 High Cost Of Deploying Contactless Payment Technologies
5.2.3 Opportunities
5.2.3.1 Use Of Security Features Of Emerging Technologies, Such As Blockchain And 5G
5.2.3.2 Rising Demand For Mobile And Wearable Payment Devices
5.2.4 Challenges
5.2.4.1 Lack Of Consumer Awareness
5.2.4.2 Banking Laws And Payment Association Rules
5.3 Standards And Regulations
5.3.1 Iso/Iec 14443
5.3.1.1 Part 1
5.3.1.2 Part 2
5.3.1.3 Part 3
5.3.1.4 Part 4
5.3.2 Iso/Iec 15693
5.3.2.1 Part 1
5.3.2.2 Part 2
5.3.2.3 Part 3
5.3.3 Iso/Iec 18092
5.3.3.1 Read/Write
5.3.3.2 Peer-To-Peer
5.4 Use Cases
5.4.1 Use Case: Transport And Logistics
5.4.2 Use Case: Hospitality
5.4.3 Use Case: Transportation And Logistics
5.5 Impact Of Disruptive Technologies
5.5.1 Blockchain
5.5.2 5G
5.5.3 Augmented Reality
6 Contactless Payment Market, By Technology
6.1 Introduction
6.1.1 Technology: Contactless Payment Market Drivers
6.1.2 Technology: Contactless Payment Vendor Initiatives And Developments
6.2 Radio Frequency Identification
6.3 Near Field Communication
6.4 Host Card Emulation
7 Contactless Payment Market, By Payment Mode
7.1 Introduction
7.1.1 Payment Modes: Contactless Payment Market Drivers
7.1.2 Payment Modes: Contactless Payment Vendor Initiatives And Developments
7.2 Smartphones
7.3 Smartcards
7.4 Others
8 Contactless Payment Market, By Component
8.1 Introduction
8.1.1 Component: Contactless Payment Market Drivers
8.1.2 Component: Contactless Payment Vendor Initiatives And Developments
8.2 Hardware
8.2.1 Point Of Sale
8.2.2 Cards
8.2.3 Others
8.3 Services
8.3.1 Consulting
8.3.2 Integration And Deployment
8.3.3 Support And Maintenance
8.4 Solutions
9 Contactless Payment Market, By Vertical
9.1 Introduction
9.1.1 Verticals: Contactless Payment Market Drivers
9.1.2 Verticals: Contactless Payment Vendor Initiatives And Developments
9.2 Retail
9.3 Healthcare
9.4 Hospitality
9.5 Energy And Utilities
9.6 Transportation And Logistics
9.7 Banking, Financial Services And Insurance
9.8 Other Verticals
9.8.1 Education
9.8.2 Telecommunications
9.8.3 Government
10 Contactless Payment Market, By Region
10.1 Introduction
10.2 North America
10.2.1 North America: Contactless Payment Market Drivers
10.2.2 North America: Contactless Payment Vendor Initiatives And Developments
10.2.3 United States
10.2.4 Canada
10.3 Europe
10.3.1 Europe: Contactless Payment Market Drivers
10.3.2 Europe: Contactless Payment Vendor Initiatives And Developments
10.3.3 United Kingdom
10.3.4 Germany
10.3.5 Sweden
10.3.6 Rest Of Europe
10.4 Asia Pacific
10.4.1 Asia Pacific: Contactless Payment Market Drivers
10.4.2 Asia Pacific: Contactless Payment Vendor Initiatives And Developments
10.4.3 China
10.4.4 South Korea
10.4.5 Australia
10.4.6 India
10.4.7 Singapore
10.4.8 Rest Of Asia Pacific
10.5 The Middle East And Africa
10.5.1 The Middle East And Africa: Contactless Payment Market Drivers
10.5.2 The Middle East And Africa: Contactless Payment Vendor Initiatives And Developments
10.5.3 United Arab Emirates
10.5.4 Kingdom Of Saudi Arabia
10.5.5 Israel
10.5.6 South Africa
10.5.7 Qatar
10.5.8 Rest Of Middle East And Africa
10.6 Latin America
10.6.1 Latin America: Contactless Payment Market Drivers
10.6.2 Latin America: Contactless Payment Vendor Initiatives And Developments
10.6.3 Brazil
10.6.4 Mexico
10.6.5 Rest Of Latin America
11 Competitive Landscape
11.1 Overview
11.2 Competitive Leadership Mapping
11.2.1 Visionary Leaders
11.2.2 Dynamic Differentiators
11.2.3 Innovators
11.2.4 Emerging Companies
11.3 Strength Of Product Portfolio
11.4 Business Strategy Excellence
11.5 Ranking Of Key Players
12 Company Profiles
12.1 Introduction
12.2 Gemalto
12.3 Infineon
12.4 Ingenico
12.5 Wirecard
12.6 Verifone
12.7 Giesecke+Devrient
12.8 Idemia
12.9 On Track Innovations
12.10 Identiv
12.11 CPI Card Group
12.12 Bitel
12.13 Setomatic Systems
12.14 Valitor
12.15 Pax Global Technology
12.16 Mypinpad
12.17 Mobeewave
12.18 Alcineo
12.19 Castles
12.20 Sumup
12.21 Paycore
12.22 Right-To-Win
13 Appendix
13.1 Discussion Guide
13.2 Knowledge Store: Subscription Portal
13.3 Available Customizations
13.4 Related Reports
13.5 Author Details
List Of Tables
Table 1 United States Dollar Exchange Rate, 2017-2019
Table 2 Contactless Payment Market Size, By Component, 2018-2025 (USD Million)
Table 3 Hardware: Contactless Payment Market Size, By Region, 2018-2025 (USD Million)
Table 4 North America: Hardware Market Size, By Country, 2018-2025 (USD Million)
Table 5 Europe: Hardware Market Size, By Country, 2018-2025 (USD Million)
Table 6 Hardware: Contactless Payment Market Size, By Type, 2018-2025 (USD Million)
Table 7 Point Of Sale Market Size, By Region, 2018-2025 (USD Million)
Table 8 North America: Point Of Sale Market Size, By Country, 2018-2025 (USD Million)
Table 9 Europe: Point Of Sale Market Size, By Country, 2018-2025 (USD Million)
Table 10 Cards Market Size, By Region, 2018-2025 (USD Million)
Table 11 North America: Cards Market Size, By Country, 2018-2025 (USD Million)
Table 12 Europe: Cards Market Size, By Country, 2018-2025 (USD Million)
Table 13 Others Market Size, By Region, 2018-2025 (USD Million)
Table 14 North America: Others Market Size, By Country, 2018-2025 (USD Million)
Table 15 Europe: Others Market Size, By Country, 2018-2025 (USD Million)
Table 16 Services: Contactless Payment Market Size, By Region, 2018-2025 (USD Million)
Table 17 North America: Services Market Size, By Country, 2018-2025 (USD Million)
Table 18 Europe: Services Market Size, By Country, 2018-2025 (USD Million)
Table 19 Services: Contactless Payment Market Size, By Type, 2018-2025 (USD Million)
Table 20 Consulting Market Size, By Region, 2018-2025 (USD Million)
Table 21 North America: Consulting Market Size, By Country, 2018-2025 (USD Million)
Table 22 Europe: Consulting Market Size, By Country, 2018-2025 (USD Million)
Table 23 Integration And Deployment Market Size, By Region, 2018-2025 (USD Million)
Table 24 North America: Integration And Deployment Market Size, By Country, 2018-2025 (USD Million)
Table 25 Europe: Integration And Deployment Market Size, By Country, 2018-2025 (USD Million)
Table 26 Support And Maintenance Market Size, By Region, 2018-2025 (USD Million)
Table 27 North America: Support And Maintenance Market Size, By Country, 2018-2025 (USD Million)
Table 28 Europe: Support And Maintenance Market Size, By Country, 2018-2025 (USD Million)
Table 29 Solutions: Contactless Payment Market Size, By Region, 2018-2025 (USD Million)
Table 30 North America: Solutions Market Size, By Country, 2018-2025 (USD Million)
Table 31 Europe: Solutions Market Size, By Country, 2018-2025 (USD Million)
Table 32 Contactless Payment Market Size, By Vertical, 2018-2025 (USD Million)
Table 33 Retail: Contactless Payment Market Size, By Region, 2018-2025 (USD Million)
Table 34 North America: Retail Market Size, By Country, 2018-2025 (USD Million)
Table 35 Europe: Retail Market Size, By Country, 2018-2025 (USD Million)
Table 36 Healthcare: Contactless Payment Market Size, By Region, 2018-2025 (USD Million)
Table 37 North America: Healthcare Market Size, By Country, 2018-2025 (USD Million)
Table 38 Europe: Healthcare Market Size, By Country, 2018-2025 (USD Million)
Table 39 Hospitality: Contactless Payment Market Size, By Region, 2018-2025 (USD Million)
Table 40 North America: Hospitality Market Size, By Country, 2018-2025 (USD Million)
Table 41 Europe: Hospitality Market Size, By Country, 2018-2025 (USD Million)
Table 42 Energy And Utilities: Contactless Payment Market Size, By Region, 2018-2025 (USD Million)
Table 43 North America: Energy And Utilities Market Size, By Country, 2018-2025 (USD Million)
Table 44 Europe: Energy And Utilities Market Size, By Country, 2018-2025 (USD Million)
Table 45 Transportation And Logistics: Contactless Payment Market Size, By Region, 2018-2025 (USD Million)
Table 46 North America: Transportation And Logistics Market Size, By Country, 2018-2025 (USD Million)
Table 47 Europe: Transportation And Logistics Market Size, By Country, 2018-2025 (USD Million)
Table 48 Banking, Financial Services And Insurance: Contactless Payment Market Size, By Region, 2018-2025 (USD Million)
Table 49 North America: Banking, Financial Services And Insurance Market Size, By Country, 2018-2025 (USD Million)
Table 50 Europe: Banking, Financial Services And Insurance Market Size, By Country, 2018-2025 (USD Million)
Table 51 Other Verticals: Contactless Payment Market Size, By Region, 2018-2025 (USD Million)
Table 52 North America: Other Verticals Market Size, By Country, 2018-2025 (USD Million)
Table 53 Europe: Other Verticals Market Size, By Country, 2018-2025 (USD Million)
Table 54 Contactless Payment Market Size, By Region, 2018-2025 (USD Million)
Table 55 North America: Contactless Payment Market Size, By Component, 2018-2025 (USD Million)
Table 56 North America: Contactless Payment Market Size, By Hardware, 2018-2025 (USD Million)
Table 57 North America: Contactless Payment Market Size, By Service, 2018-2025 (USD Million)
Table 58 North America: Contactless Payment Market Size, By Vertical, 2018-2025 (USD Million)
Table 59 North America: Contactless Payment Market Size, By Country, 2018-2025 (USD Million)
Table 60 United States: Contactless Payment Market Size, By Component, 2018-2025 (USD Million)
Table 61 United States: Contactless Payment Market Size, By Hardware, 2018-2025 (USD Million)
Table 62 United States: Contactless Payment Market Size, By Service, 2018-2025 (USD Million)
Table 63 United States: Contactless Payment Market Size, By Vertical, 2018-2025 (USD Million)
Table 64 Canada: Contactless Payment Market Size, By Component, 2018-2025 (USD Million)
Table 65 Canada: Contactless Payment Market Size, By Hardware, 2018-2025 (USD Million)
Table 66 Canada: Contactless Payment Market Size, By Service, 2018-2025 (USD Million)
Table 67 Canada: Contactless Payment Market Size, By Vertical, 2018-2025 (USD Million)
Table 68 Europe: Contactless Payment Market Size, By Component, 2018-2025 (USD Million)
Table 69 Europe: Contactless Payment Market Size, By Hardware, 2018-2025 (USD Million)
Table 70 Europe: Contactless Payment Market Size, By Service, 2018-2025 (USD Million)
Table 71 Europe: Contactless Payment Market Size, By Vertical, 2018-2025 (USD Million)
Table 72 Europe: Contactless Payment Market Size, By Country, 2018-2025 (USD Million)
Table 73 United Kingdom: Contactless Payment Market Size, By Component, 2018-2025 (USD Million)
Table 74 United Kingdom: Contactless Payment Market Size, By Hardware, 2018-2025 (USD Million)
Table 75 United Kingdom: Contactless Payment Market Size, By Service, 2018-2025 (USD Million)
Table 76 United Kingdom: Contactless Payment Market Size, By Vertical, 2018-2025 (USD Million)
Table 77 Germany: Contactless Payment Market Size, By Component, 2018-2025 (USD Million)
Table 78 Germany: Contactless Payment Market Size, By Hardware, 2018-2025 (USD Million)
Table 79 Germany: Contactless Payment Market Size, By Service, 2018-2025 (USD Million)
Table 80 Germany: Contactless Payment Market Size, By Vertical, 2018-2025 (USD Million)
Table 81 Sweden: Contactless Payment Market Size, By Component, 2018-2025 (USD Million)
Table 82 Sweden: Contactless Payment Market Size, By Hardware, 2018-2025 (USD Million)
Table 83 Sweden: Contactless Payment Market Size, By Service, 2018-2025 (USD Million)
Table 84 Sweden: Contactless Payment Market Size, By Vertical, 2018-2025 (USD Million)
Table 85 Rest Of Europe: Contactless Payment Market Size, By Component, 2018-2025 (USD Million)
Table 86 Rest Of Europe: Contactless Payment Market Size, By Hardware, 2018-2025 (USD Million)
Table 87 Rest Of Europe: Contactless Payment Market Size, By Service, 2018-2025 (USD Million)
Table 88 Rest Of Europe: Contactless Payment Market Size, By Vertical, 2018-2025 (USD Million)
Table 89 Asia Pacific: Contactless Payment Market Size, By Component, 2018-2025 (USD Million)
Table 90 Asia Pacific: Contactless Payment Market Size, By Hardware, 2018-2025 (USD Million)
Table 91 Asia Pacific: Contactless Payment Market Size, By Service, 2018-2025 (USD Million)
Table 92 Asia Pacific: Contactless Payment Market Size, By Vertical, 2018-2025 (USD Million)
Table 93 Asia Pacific: Contactless Payment Market Size, By Country, 2018-2025 (USD Million)
Table 94 The Middle East And Africa: Contactless Payment Market Size, By Component, 2018-2025 (USD Million)
Table 95 The Middle East And Africa: Contactless Payment Market Size, By Hardware, 2018-2025 (USD Million)
Table 96 The Middle East And Africa: Contactless Payment Market Size, By Service, 2018-2025 (USD Million)
Table 97 The Middle East And Africa: Contactless Payment Market Size, By Vertical, 2018-2025 (USD Million)
Table 98 The Middle East And Africa: Contactless Payment Market Size, By Country, 2018-2025 (USD Million)
Table 99 Latin America: Contactless Payment Market Size, By Component, 2018-2025 (USD Million)
Table 100 Latin America: Contactless Payment Market Size, By Hardware, 2018-2025 (USD Million)
Table 101 Latin America: Contactless Payment Market Size, By Service, 2018-2025 (USD Million)
Table 102 Latin America: Contactless Payment Market Size, By Vertical, 2018-2025 (USD Million)
Table 103 Latin America: Contactless Payment Market Size, By Country, 2018-2025 (USD Million)
Table 104 Evaluation Criteria
List Of Figures
Figure 1 Contactless Payment Market: Research Design
Figure 2 Market Size Estimation Methodology: Approach 1 (Supply Side): Revenue Of Component Of The Contactless Payment Market
Figure 3 Market Size Estimation Methodology: Approach 1 Bottom-Up (Supply Side): Collective Revenue Of All Offerings Of The Contactless Payment Market
Figure 4 Market Size Estimation Methodology: Approach 2 Top-Down (Demand Side): Share Of The Contactless Payment Market Through Vendor Offerings
Figure 5 Factor Analysis
Figure 6 Competitive Leadership Mapping: Criteria Weightage
Figure 7 Contactless Payment Market To Witness A Steady Growth During The Forecast Period
Figure 8 Top 3 Leading Segments In The Contactless Payment Market In 2020
Figure 9 Contactless Payment Market: Regional Market Scenario
Figure 10 Contactless Payment Market, Top 3 Segments, 2020
Figure 11 Hardware Segment To Hold The Highest Market Share In 2020
Figure 12 Evolution Of Payment Technologies For Delivering Customer-Centric Services To Drive The Global Contactless Payment Market
Figure 13 Hardware Segment And Europe To Hold The Highest Market Shares In 2020
Figure 14 Asia Pacific To Grow At The Highest Cagr During The Forecast Period
Figure 15 North America And Asia Pacific To Emerge As The Best Markets For Investments Over The Next 5 Years
Figure 16 Drivers, Restraints, Opportunities, And Challenges: Contactless Payment Market
Figure 17 Solutions Segment To Grow At The Highest Cagr During The Forecast Period
Figure 18 Cards Segment To Grow At The Highest Cagr During The Forecast Period
Figure 19 Transportation And Logistics Segment To Grow At The Highest Cagr During The Forecast Period
Figure 20 Asia Pacific To Grow At The Highest Cagr During The Forecast Period
Figure 21 Europe: Market Snapshot
Figure 22 Asia Pacific: Market Snapshot
Figure 23 Contactless Payment Market, Competitive Leadership Mapping, 2020
Figure 24 Product Portfolio Analysis Of Top Players In The Contactless Payment Market
Figure 25 Business Strategy Excellence Of Top Players In The Contactless Payment Market
Figure 26 Ranking Of Key Players In The Contactless Payment Market, 2020
Figure 27 Gemalto: Company Snapshot
Figure 28 Gemalto: Swot Analysis
Figure 29 Infineon: Company Snapshot
Figure 30 Infineon: Swot Analysis
Figure 31 Ingenico: Company Snapshot
Figure 32 Ingenico: Swot Analysis
Figure 33 Wirecard: Company Snapshot
Figure 34 Wirecard: Swot Analysis
Figure 35 Giesecke+Devrient: Company Snapshot
Figure 36 On Track Innovations: Company Snapshot
Figure 37 Identiv: Company Snapshot
Figure 38 CPI Card Group: Company Snapshot

Executive Summary

Companies Mentioned

  • Alcineo
  • Bitel
  • Castles
  • CPI Card Group
  • Gemalto
  • Giesecke+Devrient
  • Idemia
  • Identiv
  • Infineon
  • Ingenico
  • Mobeewave
  • Mypinpad
  • On Track Innovations
  • Pax Global Technology
  • Paycore
  • Setomatic Systems
  • Sumup
  • Valitor
  • Verifone
  • Wirecard

Methodology

Loading
LOADING...

Table Information