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Contactless Payment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

  • ID: 5483552
  • Report
  • November 2021
  • Region: Global
  • 147 Pages
  • IMARC Group

FEATURED COMPANIES

  • Giesecke & Devrient GmbH
  • On Track Innovations Ltd.
  • Pax Technology
  • Setomatic Systems
  • Thales Group
  • Valitor
The global contactless payment market reached a value of US$ 10.50 Billion in 2020 and is expected to reach US$ 20.7 Billion by 2026. Contactless payment refers to a payment alternative that enables the users to make digital payments without requiring physical contact between the parties. It involves the use of credit, debit and smart cards, key fobs and smartphone-based online payment applications. They are embedded with an integrated circuit (IC) chip and antenna and operate through radio-frequency identification (RFID) or near field communication (NFC) technologies for making secured payments. In comparison to the contact-based payment alternatives, they are faster, more secure, convenient to use and aid in improving the overall consumer experience. As a result, they are widely used across industries, such as retail, healthcare, energy, hospitality, transportation and banking, financial services and insurance.

Global Contactless Payment Market Trends and Drivers:

Rapid digitization of the banking, financial services and insurance (BFSI) industry across the globe represents one of the key factors driving the growth of the market. Furthermore, increasing consumer awareness regarding the convenience offered by contactless payment tools and the rising demand for minimized queue time and faster checkouts at banks, are also driving the market growth. In line with this, the onset of coronavirus (Covid-19) pandemic has also enhanced the demand for contactless payment solutions that require minimal physical interactions, is also contributing to the market growth. Additionally, various technological advancements, such as the development of biometric-based contactless smart cards and novel RFID tags, are acting as other growth-inducing factors. These technologies are widely adopted by small merchants and service providers to conduct cashless transactions by using their smartphones. Other factors, including the widespread adoption of blockchain and 5G technologies, along with significant improvements in the networking infrastructure, especially in the developing economies, are anticipated to drive the market further. Looking forward, the publisher expects the global contactless payment market to grow at a CAGR of around 18% during 2021-2026.

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the global contactless payment market, along with forecasts at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, technology, device, solution and application.

Breakup by Technology:

  • Near Field Communication (NFC)
  • Radio Frequency Identification (RFID)
  • Infrared (IR)
  • Others

Breakup by Device:

  • Smartphones and Wearables
  • Point-of-Sales Terminals
  • Smart Cards

Breakup by Solution:

  • Payment Terminal Solution
  • Transaction Management
  • Security and Fraud Management
  • Hosted Point-of-Sales
  • Payment Analytics

Breakup by Application:

  • BFSI
  • Retail
  • Transportation
  • Healthcare
  • Others

Breakup by Region:

  • North America
  • United States
  • Canada
  • Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
  • Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
  • Latin America
  • Brazil
  • Mexico
  • Others
  • Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Giesecke & Devrient GmbH, Heartland Payment Systems (Global Payments Inc.), IDEMIA (Advent International), Ingenico Group (Worldline S.A.), On Track Innovations Ltd., Pax Technology, Setomatic Systems, Thales Group, Valitor, Verifone Systems Inc. (Francisco Partners) and Visa Inc.

Key Questions Answered in This Report:

  • How has the global contactless payment market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global contactless payment market?
  • What are the key regional markets?
  • What is the breakup of the market based on the technology?
  • What is the breakup of the market based on the device?
  • What is the breakup of the market based on the solution?
  • What is the breakup of the market based on the application?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global contactless payment market and who are the key players?
  • What is the degree of competition in the industry?
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Giesecke & Devrient GmbH
  • On Track Innovations Ltd.
  • Pax Technology
  • Setomatic Systems
  • Thales Group
  • Valitor
1 Preface

2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology

3 Executive Summary

4 Introduction
4.1 Overview
4.2 Key Industry Trends

5 Global Contactless Payment Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast

6 Market Breakup by Technology
6.1 Near Field Communication (NFC)
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Radio Frequency Identification (RFID)
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Infrared (IR)
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Others
6.4.1 Market Trends
6.4.2 Market Forecast

7 Market Breakup by Device
7.1 Smartphones and Wearables
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Point-of-Sales Terminals
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Smart Cards
7.3.1 Market Trends
7.3.2 Market Forecast

8 Market Breakup by Solution
8.1 Payment Terminal Solution
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Transaction Management
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Security and Fraud Management
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Hosted Point-of-Sales
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Payment Analytics
8.5.1 Market Trends
8.5.2 Market Forecast

9 Market Breakup by Application
9.1 BFSI
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Retail
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Transportation
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Healthcare
9.4.1 Market Trends
9.4.2 Market Forecast
9.5 Others
9.5.1 Market Trends
9.5.2 Market Forecast

10 Market Breakup by Region
10.1 North America
10.1.1 United States
10.1.1.1 Market Trends
10.1.1.2 Market Forecast
10.1.2 Canada
10.1.2.1 Market Trends
10.1.2.2 Market Forecast
10.2 Asia-Pacific
10.2.1 China
10.2.1.1 Market Trends
10.2.1.2 Market Forecast
10.2.2 Japan
10.2.2.1 Market Trends
10.2.2.2 Market Forecast
10.2.3 India
10.2.3.1 Market Trends
10.2.3.2 Market Forecast
10.2.4 South Korea
10.2.4.1 Market Trends
10.2.4.2 Market Forecast
10.2.5 Australia
10.2.5.1 Market Trends
10.2.5.2 Market Forecast
10.2.6 Indonesia
10.2.6.1 Market Trends
10.2.6.2 Market Forecast
10.2.7 Others
10.2.7.1 Market Trends
10.2.7.2 Market Forecast
10.3 Europe
10.3.1 Germany
10.3.1.1 Market Trends
10.3.1.2 Market Forecast
10.3.2 France
10.3.2.1 Market Trends
10.3.2.2 Market Forecast
10.3.3 United Kingdom
10.3.3.1 Market Trends
10.3.3.2 Market Forecast
10.3.4 Italy
10.3.4.1 Market Trends
10.3.4.2 Market Forecast
10.3.5 Spain
10.3.5.1 Market Trends
10.3.5.2 Market Forecast
10.3.6 Russia
10.3.6.1 Market Trends
10.3.6.2 Market Forecast
10.3.7 Others
10.3.7.1 Market Trends
10.3.7.2 Market Forecast
10.4 Latin America
10.4.1 Brazil
10.4.1.1 Market Trends
10.4.1.2 Market Forecast
10.4.2 Mexico
10.4.2.1 Market Trends
10.4.2.2 Market Forecast
10.4.3 Others
10.4.3.1 Market Trends
10.4.3.2 Market Forecast
10.5 Middle East and Africa
10.5.1 Market Trends
10.5.2 Market Breakup by Country
10.5.3 Market Forecast

11 SWOT Analysis
11.1 Overview
11.2 Strengths
11.3 Weaknesses
11.4 Opportunities
11.5 Threats

12 Value Chain Analysis

13 Porters Five Forces Analysis
13.1 Overview
13.2 Bargaining Power of Buyers
13.3 Bargaining Power of Suppliers
13.4 Degree of Competition
13.5 Threat of New Entrants
13.6 Threat of Substitutes

14 Price Analysis

15 Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
15.3.1 Giesecke & Devrient GmbH
15.3.1.1 Company Overview
15.3.1.2 Product Portfolio
15.3.2 Heartland Payment Systems (Global Payments Inc.)
15.3.2.1 Company Overview
15.3.2.2 Product Portfolio
15.3.3 IDEMIA (Advent International)
15.3.3.1 Company Overview
15.3.3.2 Product Portfolio
15.3.4 Ingenico Group (Worldline S.A.)
15.3.4.1 Company Overview
15.3.4.2 Product Portfolio
15.3.5 On Track Innovations Ltd
15.3.5.1 Company Overview
15.3.5.2 Product Portfolio
15.3.5.3 Financials
15.3.6 Pax Technology
15.3.6.1 Company Overview
15.3.6.2 Product Portfolio
15.3.7 Setomatic Systems
15.3.7.1 Company Overview
15.3.7.2 Product Portfolio
15.3.8 Thales Group
15.3.8.1 Company Overview
15.3.8.2 Product Portfolio
15.3.8.3 Financials
15.3.8.4 SWOT Analysis
15.3.9 Valitor
15.3.9.1 Company Overview
15.3.9.2 Product Portfolio
15.3.10 Verifone Systems Inc. (Francisco Partners)
15.3.10.1 Company Overview
15.3.10.2 Product Portfolio
15.3.11 Visa Inc.
15.3.11.1 Company Overview
15.3.11.2 Product Portfolio
15.3.11.3 Financials
15.3.11.4 SWOT Analysis

List of Figures
Figure 1: Global: Contactless Payment Market: Major Drivers and Challenges
Figure 2: Global: Contactless Payment Market: Sales Value (in Billion US$), 2015-2020
Figure 3: Global: Contactless Payment Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 4: Global: Contactless Payment Market: Breakup by Technology (in %), 2020
Figure 5: Global: Contactless Payment Market: Breakup by Device (in %), 2020
Figure 6: Global: Contactless Payment Market: Breakup by Solution (in %), 2020
Figure 7: Global: Contactless Payment Market: Breakup by Application (in %), 2020
Figure 8: Global: Contactless Payment Market: Breakup by Region (in %), 2020
Figure 9: Global: Contactless Payment (Near Field Communication- NFC) Market: Sales Value (in Million US$), 2015 & 2020
Figure 10: Global: Contactless Payment (Near Field Communication- NFC) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 11: Global: Contactless Payment (Radio Frequency Identification- RFID) Market: Sales Value (in Million US$), 2015 & 2020
Figure 12: Global: Contactless Payment (Radio Frequency Identification- RFID) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 13: Global: Contactless Payment (Infrared- IR) Market: Sales Value (in Million US$), 2015 & 2020
Figure 14: Global: Contactless Payment (Infrared- IR) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 15: Global: Contactless Payment (Other Technologies) Market: Sales Value (in Million US$), 2015 & 2020
Figure 16: Global: Contactless Payment (Other Technologies) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 17: Global: Contactless Payment (Smartphones and Wearables) Market: Sales Value (in Million US$), 2015 & 2020
Figure 18: Global: Contactless Payment (Smartphones and Wearables) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 19: Global: Contactless Payment (Point-of-Sales Terminals) Market: Sales Value (in Million US$), 2015 & 2020
Figure 20: Global: Contactless Payment (Point-of-Sales Terminals) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 21: Global: Contactless Payment (Smart Cards) Market: Sales Value (in Million US$), 2015 & 2020
Figure 22: Global: Contactless Payment (Smart Cards) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 23: Global: Contactless Payment (Payment Terminal Solution) Market: Sales Value (in Million US$), 2015 & 2020
Figure 24: Global: Contactless Payment (Payment Terminal Solution) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 25: Global: Contactless Payment (Transaction Management) Market: Sales Value (in Million US$), 2015 & 2020
Figure 26: Global: Contactless Payment (Transaction Management) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 27: Global: Contactless Payment (Security and Fraud Management) Market: Sales Value (in Million US$), 2015 & 2020
Figure 28: Global: Contactless Payment (Security and Fraud Management) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 29: Global: Contactless Payment (Hosted Point-of-Sales) Market: Sales Value (in Million US$), 2015 & 2020
Figure 30: Global: Contactless Payment (Hosted Point-of-Sales) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 31: Global: Contactless Payment (Payment Analytics) Market: Sales Value (in Million US$), 2015 & 2020
Figure 32: Global: Contactless Payment (Payment Analytics) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 33: Global: Contactless Payment (BFSI) Market: Sales Value (in Million US$), 2015 & 2020
Figure 34: Global: Contactless Payment (BFSI) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 35: Global: Contactless Payment (Retail) Market: Sales Value (in Million US$), 2015 & 2020
Figure 36: Global: Contactless Payment (Retail) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 37: Global: Contactless Payment (Transportation) Market: Sales Value (in Million US$), 2015 & 2020
Figure 38: Global: Contactless Payment (Transportation) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 39: Global: Contactless Payment (Healthcare) Market: Sales Value (in Million US$), 2015 & 2020
Figure 40: Global: Contactless Payment (Healthcare) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 41: Global: Contactless Payment (Other Applications) Market: Sales Value (in Million US$), 2015 & 2020
Figure 42: Global: Contactless Payment (Other Applications) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 43: North America: Contactless Payment Market: Sales Value (in Million US$), 2015 & 2020
Figure 44: North America: Contactless Payment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 45: United States: Contactless Payment Market: Sales Value (in Million US$), 2015 & 2020
Figure 46: United States: Contactless Payment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 47: Canada: Contactless Payment Market: Sales Value (in Million US$), 2015 & 2020
Figure 48: Canada: Contactless Payment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 49: Asia-Pacific: Contactless Payment Market: Sales Value (in Million US$), 2015 & 2020
Figure 50: Asia-Pacific: Contactless Payment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 51: China: Contactless Payment Market: Sales Value (in Million US$), 2015 & 2020
Figure 52: China: Contactless Payment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 53: Japan: Contactless Payment Market: Sales Value (in Million US$), 2015 & 2020
Figure 54: Japan: Contactless Payment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 55: India: Contactless Payment Market: Sales Value (in Million US$), 2015 & 2020
Figure 56: India: Contactless Payment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 57: South Korea: Contactless Payment Market: Sales Value (in Million US$), 2015 & 2020
Figure 58: South Korea: Contactless Payment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 59: Australia: Contactless Payment Market: Sales Value (in Million US$), 2015 & 2020
Figure 60: Australia: Contactless Payment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 61: Indonesia: Contactless Payment Market: Sales Value (in Million US$), 2015 & 2020
Figure 62: Indonesia: Contactless Payment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 63: Others: Contactless Payment Market: Sales Value (in Million US$), 2015 & 2020
Figure 64: Others: Contactless Payment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 65: Europe: Contactless Payment Market: Sales Value (in Million US$), 2015 & 2020
Figure 66: Europe: Contactless Payment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 67: Germany: Contactless Payment Market: Sales Value (in Million US$), 2015 & 2020
Figure 68: Germany: Contactless Payment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 69: France: Contactless Payment Market: Sales Value (in Million US$), 2015 & 2020
Figure 70: France: Contactless Payment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 71: United Kingdom: Contactless Payment Market: Sales Value (in Million US$), 2015 & 2020
Figure 72: United Kingdom: Contactless Payment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 73: Italy: Contactless Payment Market: Sales Value (in Million US$), 2015 & 2020
Figure 74: Italy: Contactless Payment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 75: Spain: Contactless Payment Market: Sales Value (in Million US$), 2015 & 2020
Figure 76: Spain: Contactless Payment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 77: Russia: Contactless Payment Market: Sales Value (in Million US$), 2015 & 2020
Figure 78: Russia: Contactless Payment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 79: Others: Contactless Payment Market: Sales Value (in Million US$), 2015 & 2020
Figure 80: Others: Contactless Payment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 81: Latin America: Contactless Payment Market: Sales Value (in Million US$), 2015 & 2020
Figure 82: Latin America: Contactless Payment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 83: Brazil: Contactless Payment Market: Sales Value (in Million US$), 2015 & 2020
Figure 84: Brazil: Contactless Payment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 85: Mexico: Contactless Payment Market: Sales Value (in Million US$), 2015 & 2020
Figure 86: Mexico: Contactless Payment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 87: Others: Contactless Payment Market: Sales Value (in Million US$), 2015 & 2020
Figure 88: Others: Contactless Payment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 89: Middle East and Africa: Contactless Payment Market: Sales Value (in Million US$), 2015 & 2020
Figure 90: Middle East and Africa: Contactless Payment Market: Breakup by Country (in %), 2020
Figure 91: Middle East and Africa: Contactless Payment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 92: Global: Contactless Payment Industry: SWOT Analysis
Figure 93: Global: Contactless Payment Industry: Value Chain Analysis
Figure 94: Global: Contactless Payment Industry: Porter's Five Forces Analysis

List of Tables
Table 1: Global: Contactless Payment Market: Key Industry Highlights, 2020 and 2026
Table 2: Global: Contactless Payment Market Forecast: Breakup by Technology (in Million US$), 2021-2026
Table 3: Global: Contactless Payment Market Forecast: Breakup by Device (in Million US$), 2021-2026
Table 4: Global: Contactless Payment Market Forecast: Breakup by Solution (in Million US$), 2021-2026
Table 5: Global: Contactless Payment Market Forecast: Breakup by Application (in Million US$), 2021-2026
Table 6: Global: Contactless Payment Market Forecast: Breakup by Region (in Million US$), 2021-2026
Table 7: Global: Contactless Payment Market: Competitive Structure
Table 8: Global: Contactless Payment Market: Key Players
Note: Product cover images may vary from those shown
  • Giesecke & Devrient GmbH
  • Heartland Payment Systems (Global Payments Inc.)
  • IDEMIA (Advent International)
  • Ingenico Group (Worldline S.A.)
  • On Track Innovations Ltd.
  • Pax Technology
  • Setomatic Systems
  • Thales Group
  • Valitor
  • Verifone Systems Inc. (Francisco Partners)
  • Visa Inc.
Note: Product cover images may vary from those shown

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