Contactless Payments Market by Device Type - Global Opportunity Analysis and Industry Forecast, 2017-2023

  • ID: 4368953
  • Report
  • Region: Global
  • 136 pages
  • Allied Analytics LLP
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FEATURED COMPANIES

  • Gemalto N.V.
  • Giesecke & Devrient GmbH
  • Ingenico Group
  • Inside Secure
  • Oberthur Technologies SA
  • on Track Innovations
  • MORE
The Internet of Things (IoT) technology has transformed the way of interaction globally. Likewise, Radio-Frequency Identification (RFID) and Near Field Communications (NFC) have aided in making payments safer and secure. Contactless payment systems comprise smart cards or other devices that integrate RFID or NFC technologies to make secure and contactless payment. Unlike mobile payments that are done through the internet, contactless payments are carried out in close physical proximity of the card, mobile phone or other devices of preventing unauthorized access during the transaction(s).

The global contactless payments market is driven by convenience in processing low value payments, increased revenue opportunities, and reduced transaction time. However, high costs involved for the deployment of EPOS terminals and lower rate of adoption of the market hamper the contactless payments market growth.

The global contactless payments market is segmented based on device type, industry vertical, and region. Based on device type, it is divided into mobile handsets, point of sale terminals, NFC chips, smart cards, and others. Based on industry vertical, it is classified into Banking, Financial Services, and Insurance (BFSI), retail, IT & telecom, transportation, hospitality, government, and others. The market is analyzed based on region across North America, Europe, Asia-Pacific, and LAMEA including country level analysis for each region.

The key players operating in the global contactless payments market include 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.

KEY BENEFITS FOR STAKEHOLDERS

This study includes the analytical depiction of the global contactless payments market along with current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities and detailed impact analyses.
The current market is quantitatively analyzed from 2016 to 2023 to highlight the financial competency of the contactless payments industry.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the industry.

KEY MARKET SEGMENTS

BY DEVICE TYPE

Mobile Handsets
Point of Sale Terminals
NFC Chips
Smart Cards
Others

BY INDUSTRY VERTICAL

BFSI
Retail
IT & Telecom
Transportation
Hospitality
Government
Others

BY REGION

North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Rest of Europe
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa

KEY MARKET PLAYERS

Ingenico Group
Verifone Systems, Inc.
Inside Secure
on Track Innovations
Oberthur Technologies SA
Proxama, PLC.
Wirecard AG
Giesecke & Devrient GmbH
Gemalto N.V.
Heartland Payment Systems, Inc.
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Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Gemalto N.V.
  • Giesecke & Devrient GmbH
  • Ingenico Group
  • Inside Secure
  • Oberthur Technologies SA
  • on Track Innovations
  • MORE
CHAPTER 1 INTRODUCTION

1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS
1.3. KEY MARKET SEGMENTS
1.4. RESEARCH METHODOLOGY

1.4.1. Primary research
1.4.2. Secondary research
1.4.3. Analyst tools and models

CHAPTER 2 EXECUTIVE SUMMARY

2.1. CXO PERSPECTIVES

CHAPTER 3 MARKET OVERVIEW

3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS

3.2.1. Top winning strategies
3.2.2. Top investment pockets

3.3. PORTERS FIVE FORCES ANALYSIS

3.3.1. High bargaining power of suppliers
3.3.2. High threat of new entrants
3.3.3. High threat of substitutes
3.3.4. High rivalry among market players
3.3.5. Moderate bargaining power of buyers

3.4. MARKET SHARE ANALYSIS (%), 2016
3.5. MARKET DYNAMICS

3.5.1. Drivers

3.5.1.1. Reduced time per transaction
3.5.1.2. Convenience in making low value payments
3.5.1.3. Increased revenue opportunities

3.5.2. Restraints

3.5.2.1. Lack of awareness
3.5.2.2. High set up costs involved

3.5.3. Opportunities

3.5.3.1. Increasing number of NFC-enabled devices
3.5.3.2. Rising adoption in emerging economies

3.5.4. Top impacting factors

CHAPTER 4 CONTACTLESS PAYMENTS MARKET, BY DEVICE TYPE

4.1. OVERVIEW
4.2. MOBILE HANDSETS

4.2.1. Key market trends
4.2.2. Key growth factors and opportunities
4.2.3. Market size and forecast

4.3. POINT OF SALE TERMINALS

4.3.1. Key market trends
4.3.2. Key growth factors and opportunities
4.3.3. Market size and forecast

4.4. NFC CHIPS

4.4.1. Key market trends
4.4.2. Key growth factors and opportunities
4.4.3. Market size and forecast

4.5. SMART CARDS

4.5.1. Key market trends
4.5.2. Key growth factors and opportunities
4.5.3. Market size and forecast

4.6. OTHERS

4.6.1. Key market trends
4.6.2. Key growth factors and opportunities
4.6.3. Market size and forecast

CHAPTER 5 CONTACTLESS PAYMENTS MARKET, BY INDUSTRY VERTICAL

5.1. OVERVIEW
5.2. BFSI

5.2.1. Key market trends
5.2.2. Key growth factors and opportunities
5.2.3. Market size and forecast

5.3. RETAIL

5.3.1. Key market trends
5.3.2. Key growth factors and opportunities
5.3.3. Market size and forecast

5.4. IT & TELECOM

5.4.1. Key market trends
5.4.2. Key growth factors and opportunities
5.4.3. Market size and forecast

5.5. TRANSPORTATION

5.5.1. Key market trends
5.5.2. Key growth factors and opportunities
5.5.3. Market size and forecast

5.6. HOSPITALITY

5.6.1. Key market trends
5.6.2. Key growth factors and opportunities
5.6.3. Market size and forecast

5.7. GOVERNMENT

5.7.1. Key market trends
5.7.2. Key growth factors and opportunities
5.7.3. Market size and forecast

5.8. OTHERS

5.8.1. Key market trends
5.8.2. Key growth factors and opportunities
5.8.3. Market size and forecast

CHAPTER 6 CONTACTLESS PAYMENTS MARKET, BY REGION

6.1. NORTH AMERICA

6.1.1. Key market trends
6.1.2. Key growth factors and opportunities
6.1.3. Market size and forecast, by device type
6.1.4. Market size and forecast, by country
6.1.5. U.S.

6.1.5.1. Market size and forecast

6.1.6. Canada

6.1.6.1. Market size and forecast

6.1.7. Mexico

6.1.7.1. Market size and forecast

6.2. EUROPE

6.2.1. Key market trends
6.2.2. Key growth factors and opportunities
6.2.3. Market size and forecast
6.2.4. Germany

6.2.4.1. Market size and forecast

6.2.5. UK

6.2.5.1. Market size and forecast

6.2.6. France

6.2.6.1. Market size and forecast

6.2.7. Rest of Europe

6.2.7.1. Market size and forecast

6.3. ASIA-PACIFIC

6.3.1. Key market trends
6.3.2. Key growth factors and opportunities
6.3.3. Market size and forecast
6.3.4. Market size and forecast, by device type
6.3.5. Market size and forecast, by country
6.3.6. China

6.3.6.1. Market size and forecast

6.3.7. Japan

6.3.7.1. Market size and forecast

6.3.8. India

6.3.8.1. Market size and forecast

6.3.9. Rest of Asia-Pacific

6.3.9.1. Market size and forecast

6.4. LAMEA

6.4.1. Key market trends
6.4.2. Key growth factors and opportunities
6.4.3. Market size and forecast
6.4.4. Market size and forecast, by device type
6.4.5. Market size and forecast, by country
6.4.6. Latin America

6.4.6.1. Market size and forecast

6.4.7. Middle East

6.4.7.1. Market size and forecast

6.4.8. Africa

6.4.8.1. Market size and forecast

CHAPTER 7 COMPANY PROFILES

7.1. INGENICO GROUP

7.1.1. Company overview

7.1.1.1. Company snapshot

7.1.2. Business performance
7.1.3. Strategic moves & developments

7.2. VERIFONE SYSTEMS, INC.

7.2.1. Company overview

7.2.1.1. Company snapshot

7.2.2. Business performance

7.2.3. Strategic moves & developments

7.3. INSIDE SECURE

7.3.1. Company overview

7.3.1.1. Company snapshot

7.3.2. Business performance
7.3.3. Strategic moves & developments

7.4. ON TRACK INNOVATIONS

7.4.1. Company overview

7.4.1.1. Company snapshot

7.4.2. Business performance

7.4.3. Strategic moves & developments

7.5. OBERTHUR TECHNOLOGIES SA

7.5.1. Company overview

7.5.1.1. Company snapshot

7.5.2. Business performance
7.5.3. Strategic moves & developments

7.6. PROXAMA, PLC.

7.6.1. Company overview

7.6.1.1. Company snapshot

7.6.2. Business performance
7.6.3. Strategic moves & developments

7.7. WIRECARD AG

7.7.1. Company overview

7.7.1.1. Company snapshot

7.7.2. Business performance
7.7.3. Strategic moves & developments

7.8. GIESECKE & DEVRIENT GMBH

7.8.1. Company overview

7.8.1.1. Company snapshot

7.8.2. Business performance
7.8.3. Strategic moves & developments

7.9. GEMALTO N.V.

7.9.1. Company overview

7.9.1.1. Company snapshot

7.9.2. Business performance
7.9.3. Strategic moves & developments

7.10. HEARTLAND PAYMENT SYSTEMS, INC.

7.10.1. Company overview

7.10.1.1. Company snapshot

7.10.2. Business performance
7.10.3. Strategic moves & developments
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FEATURED COMPANIES

  • Gemalto N.V.
  • Giesecke & Devrient GmbH
  • Ingenico Group
  • Inside Secure
  • Oberthur Technologies SA
  • on Track Innovations
  • MORE
According to a recent report titled, Contactless Payments Market by Device Type and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global contactless payments market was valued at $6,734 million in 2016, and is projected to reach at $25,565 million by 2023, growing at a CAGR of 21.2% from 2017 to 2023. In 2016, the mobile devices segment accounted for the highest revenue share in the contactless payments market.

Consumers as well as enterprises have increasingly adopted number of ways for convenient and secure payments. One of such medium is a contactless system that has revolutionized the retail and transportation industries in the past few years.

The global contactless payments market is driven by convenience in processing low-value payments, increased revenue opportunities, and reduced transaction time. However, high costs involved for the deployment of EPOS terminals and lack of trust and security concerns hamper the market growth.

Europe dominated the global market in 2016, and is expected to continue this trend during the forecast period, owing to the growing adoption of contactless smart cards. Furthermore, Asia-Pacific is expected to grow at the highest CAGR during the forecast period.

The global contactless payments market was led by the mobile devices segment in 2016, and is expected to continue this trend during the forecast period. However, the smart cards segment is expected to witness the highest growth, owing to rise in adoption of these cards due to advantages such as convenience and speed.

In 2016, the global market was dominated by the BFSI industry, and is expected to continue this trend during the forecast period. However, the others segment is expected to witness the highest growth, owing to increase in installation of contactless readers in the premises of hospitals for convenience of both patients and doctors.

Key Findings of the Contactless Payments Market:

The mobile devices segment is expected to exhibit significant increase in the global contactless payments market during the forecast period.
In 2016, the BFSI segment accounted for the highest revenue among the other industry verticals.
Asia-Pacific is anticipated to exhibit substantial growth during the forecast period.
The key players profiled in the report include 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.
Note: Product cover images may vary from those shown
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  • Ingenico Group
  • Verifone Systems, Inc.
  • Inside Secure
  • on Track Innovations
  • Oberthur Technologies SA
  • Proxama, PLC.
  • Wirecard AG
  • Giesecke & Devrient GmbH
  • Gemalto N.V.
  • Heartland Payment Systems, Inc.
Note: Product cover images may vary from those shown
6 of 5
Note: Product cover images may vary from those shown
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