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Contactless Payment Market Size, Share & Trends Analysis Report by Device (Smartphones & Wearables, Point-of-Sales Terminals, Smart Cards), by Solution, by Application, by Region, and Segment Forecasts, 2020 - 2027

  • ID: 4429692
  • Report
  • June 2020
  • Region: Global
  • 100 pages
  • Grand View Research

FEATURED COMPANIES

  • Gemalto N.V.
  • Giesecke & Devrient GmbH
  • Heartland Payment Systems
  • IDEMIA
  • Ingenico Group SA
  • Thales Group
Contactless Payment Market Growth & Trends

The global contactless payment market size is expected to reach USD 4.68 trillion by 2027. The market is anticipated to expand at a CAGR of 19.8% from 2020 to 2027. The contactless payments industry is expected to witness lucrative growth over the forecast period owing to innovations in technologies such as IoT, which acts as a major market driver. Benefits such as a reduction in transaction time and improved service delivery offered by contactless payments have resulted in a significant rise in the number of users. Some other key features of the system include easy installation and cost-effectiveness. The rising trend of making payments through QR codes and mobile phones is expected to drive the demand. Individuals are increasingly using this mode of payment as it eliminates the need to carry cash.

North America is expected to emerge as one of the key regional markets over the forecast period. The growth is mainly attributed to the increasing deployment of cloud-based contactless payment technologies in various verticals, including transportation and retail amongst others. Europe is expected to be another major region for contactless payments owing to the growing number of smart card rollouts.Countries in the Asia Pacific region, such as Australia, Taiwan, and Japan, have witnessed a higher penetration rate of contactless payments compared to other countries.

The COVID-19 outbreak is expected to change the payment behavior by firms and users as the World Health Organization (WHO) has been advising consumers to avoid cash handling and switch to contactless payments. Besides, governments are taking initiatives to encourage the adoption of digital payments across the respective country. For instance, Ireland’s Finance Minister has announced an increase from EUR 30 to EUR 50 in the spending limit via contactless payment methods. Furthermore, Bank for International Settlements (BIS) is working on bringing potential architectures for accessible and resilient central bank operated payment infrastructures, such as retail Central Bank Digital Currencies (CBDCs), to allow broader acceptability. This pandemic may hence trigger various means of payments and spur the adoption of contactless payments worldwide.

Contactless Payment Market Report Highlights
  • Smartphones and wearables segment emerged as the largest device segment in 2019. It is estimated to register a CAGR of 19.4% over the forecast period
  • The transportation segment is estimated to expand at a CAGR of 21.8% over the forecast period, owing to rising adoption of contactless payments in ticketing
  • Asia Pacific is projected to witness substantial growth over the next decade owing to various technological developments across major economies. The regional market is expected to expand at a CAGR of 20.6% from 2020 to 2027.
  • Key industry participants include 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
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Gemalto N.V.
  • Giesecke & Devrient GmbH
  • Heartland Payment Systems
  • IDEMIA
  • Ingenico Group SA
  • Thales Group
Chapter 1 Methodology and Scope
1.1 Information Procurement and Research Scope
1.2 Information Analysis
1.3 Market formulation & data visualization
1.4 Market Scope and Assumptions
1.4.1 Secondary Sources
1.4.2 Primary Sources

Chapter 2 Executive Summary
2.1 Contactless Payments - Industry Snapshot & Key Buying Criteria, 2016 -2025
2.2 Global Contactless Payment Market, (in USD Billion, from 2016 to 2027)
2.1.1 Global Contactless Payment Market, by device (in USD Billion, from 2016 to 2027)
2.1.2 Global Contactless Payment Market, by solution (in USD Billion, from 2016 to 2027)
2.1.3 Global Contactless Payment Market, by application (in USD Billion, from 2016 to 2027)
2.1.4 Global Contactless Payment Market, by region (in USD Billion, from 2016 to 2027)

Chapter 3 Industry Outlook
3.1 Market Segmentation
3.2 Contactless Payments Market Size and Growth Prospects
3.3 Contactless Payments Market Value Chain Analysis
3.4 Market Dynamics
3.4.1 Market driver analysis
3.4.1.1 Rising adoption of digital payment platforms
3.4.1.2 Growing customer convenience for low value payment
3.4.1.3 Technology innovation in contactless payment devices and services
3.4.2 Market restraint analysis
3.4.2.1 Risk of cyber attack
3.4.2.2 Lack of infrastructure in developing economies
3.4.3 Market opportunity analysis
3.4.3.1 Emerging digital currency
3.5 Key Opportunities - Prioritized
3.6 Key Company Analysis, 2019
3.7 List of Key Market Players
3.8 Industry Analysis - Porter’s
3.9 Contactless payments-PESTEL Analysis
3.10 Key Regulatory Industry Initiatives, 2019

Chapter 4 Contactless Payments: Device Estimates & Trend Analysis
4.1 Contactless Payments Market: Device Movement Analysis
4.1.1 Smartphones and wearables
4.1.1.1 Global market estimates and forecasts, 2016 - 2027 (USD Billion)
4.1.2 Point-of-sales terminals
4.1.2.1 Global market estimates and forecasts, 2016 - 2027 (USD Billion)
4.1.3 Smart cards
4.1.3.1 Global market estimates and forecasts, 2016 - 2027 (USD Billion)

Chapter 5 Contactless Payments: Solution Estimates & Trend Analysis
5.1 Contactless Payments Market: Solution Movement Analysis
5.1.1 Payment terminal solution
5.1.1.1 Global market estimates and forecasts, 2016 - 2027 (USD Billion)
5.1.2 Transaction management
5.1.2.1 Global market estimates and forecasts, 2016 - 2027 (USD Billion)
5.1.3 Security and fraud management
5.1.3.1 Global market estimates and forecasts, 2016 - 2027 (USD Billion)
5.1.4 Hosted point-of-sales
5.1.4.1 Global market estimates and forecasts, 2016 - 2027 (USD Billion)
5.1.5 Analytics
5.1.5.1 Global market estimates and forecasts, 2016 - 2027 (USD Billion)

Chapter 6 Contactless Payments: Applications Estimates & Trend Analysis
6.1 Contactless Payments Market: Application Movement Analysis
6.1.1 Retail
6.1.1.1 Global market estimates and forecasts, 2016 - 2027 (USD Billion)
6.1.2 Transportation
6.1.2.1 Global market estimates and forecasts, 2016 - 2027 (USD Billion)
6.1.3 Healthcare
6.1.3.1 Global market estimates and forecasts, 2016 - 2027 (USD Billion)
6.1.4 Hospitality
6.1.4.1 Global market estimates and forecasts, 2016 - 2027 (USD Billion)
6.1.5 Government
6.1.5.1 Global market estimates and forecasts, 2016 - 2027 (USD Billion)

Chapter 7 Contactless Payments: Regional Estimates & Trend Analysis
7.1 Contactless Payments Market share by Region
7.2 North America
7.2.1 North America market place: Key takeaways
7.2.2 North America contactless payments market
7.2.2.1 Global market estimates and forecasts, 2016 - 2027 (USD Billion)
7.2.3 U.S. contactless payments market
7.2.3.1 Global market estimates and forecasts, 2016 - 2027 (USD Billion)
7.2.4 Canada contactless payments market
7.2.4.1 Global market estimates and forecasts, 2016 - 2027 (USD Billion)
7.2.5 Mexico contactless payments market
7.2.5.1 Global market estimates and forecasts, 2016 - 2027 (USD Billion)
7.3 Europe
7.3.1 Europe market place: Key takeaways
7.3.2 Europe contactless payments market
7.3.2.1 Global market estimates and forecasts, 2016 - 2027 (USD Billion)
7.3.3 Germany contactless payments market
7.3.3.1 Global market estimates and forecasts, 2016 - 2027 (USD Billion)
7.3.4 U.K. contactless payments market
7.3.4.1 Global market estimates and forecasts, 2016 - 2027 (USD Billion)
7.3.5 France contactless payments market
7.3.5.1 Global market estimates and forecasts, 2016 - 2027 (USD Billion)
7.3.6 Italy contactless payments market
7.3.6.1 Global market estimates and forecasts, 2016 - 2027 (USD Billion)
7.3.7 Spain contactless payments market
7.3.7.1 Global market estimates and forecasts, 2016 - 2027 (USD Billion)
7.4 Asia Pacific
7.4.1 Asia Pacific market place: Key takeaways
7.4.2 Asia Pacific contactless payments market
7.4.2.1 Global market estimates and forecasts, 2016 - 2027 (USD Billion)
7.4.3 China contactless payments market
7.4.3.1 Global market estimates and forecasts, 2016 - 2027 (USD Billion)
7.4.4 India contactless payments market
7.4.4.1 Global market estimates and forecasts, 2016 - 2027 (USD Billion)
7.4.5 Japan contactless payments market
7.4.5.1 Global market estimates and forecasts, 2016 - 2027 (USD Billion)
7.4.6 Australia contactless payments market
7.4.6.1 Global market estimates and forecasts, 2016 - 2027 (USD Billion)
7.4.7 South Korea contactless payments market
7.4.7.1 Global market estimates and forecasts, 2016 - 2027 (USD Billion)
7.4.8 Singapore contactless payments market
7.4.8.1 Global market estimates and forecasts, 2016 - 2027 (USD Billion)
7.4.9 Taiwan contactless payments market
7.4.9.1 Global market estimates and forecasts, 2016 - 2027 (USD Billion)
7.5 South America
7.5.1 South America marketplace: Key takeaways
7.5.2 South America contactless payments market
7.5.2.1 Global market estimates and forecasts, 2016 - 2027 (USD Billion)
7.5.3 Brazil contactless payments market
7.5.3.1 Global market estimates and forecasts, 2016 - 2027 (USD Billion)
7.6 Middle East and Africa (MEA)
7.6.1 MEA market place: Key takeaways
7.6.2 MEA contactless payments market
7.6.2.1 Global market estimates and forecasts, 2016 - 2027 (USD Billion)

Chapter 8 Competitive Landscape
8.1 Gemalto N.V.
8.1.1 Company overview
8.1.2 Financial performance
8.1.3 Product benchmarking
8.1.4 Recent developments
8.2 Visa Inc.
8.2.1 Company overview
8.2.2 Financial performance
8.2.3 Product benchmarking
8.2.4 Recent developments
8.3 Giesecke & Devrient GmbH
8.3.1 Company overview
8.3.2 Financial performance
8.3.3 Product benchmarking
8.3.4 Recent developments
8.4 Heartland Payment Systems
8.4.1 Company overview
8.4.2 Financial performance of Global Payments
8.4.3 Product benchmarking
8.4.4 Recent developments
8.5 Verifone Systems Inc.
8.5.1 Company overview
8.5.2 Financial performance
8.5.3 Product benchmarking
8.5.4 Recent developments
8.6 Ingenico Group SA
8.6.1 Company overview
8.6.2 Financial performance
8.6.3 Product benchmarking
8.6.4 Recent developments
8.7 On Track Innovations (OTI) Ltd
8.7.1 Company overview
8.7.2 Financial performance
8.7.3 Product benchmarking
8.7.4 Recent developments
8.8 IDEMIA
8.8.1 Company overview
8.8.2 Financial performance
8.8.3 Product benchmarking
8.8.4 Recent developments
8.9 Thales Group
8.9.1 Company overview
8.9.2 Financial performance
8.9.3 Product benchmarking
8.9.4 Recent developments
8.10 Wirecard AG
8.10.1 Company overview
8.10.2 Financial performance
8.10.3 Product benchmarking
8.10.4 Recent developments
Note: Product cover images may vary from those shown
  • Gemalto N.V.
  • Visa Inc.
  • Giesecke & Devrient GmbH
  • Heartland Payment Systems
  • Verifone Systems Inc.
  • Ingenico Group SA
  • On Track Innovations (OTI) Ltd
  • IDEMIA
  • Thales Group
  • Wirecard AG
Note: Product cover images may vary from those shown

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