Global contactless payment market (2021 to 2026)

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DUBLIN, December 7, 2021 / PRNewswire / – The report “Contactless Payment Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2021-2026” has been added to ResearchAndMarkets.com offer.

The global contactless payment market has reached a value of US $ 10.50 billion in 2020 and should reach US $ 20.7 billion by 2026. Contactless payment refers to a payment alternative that allows users to make digital payments without requiring physical contact between the parties.

This involves the use of credit, debit and chip cards, key fobs, and online smartphone payment apps. They have an integrated circuit (IC) chip and antenna and work with radio frequency identification (RFID) or near field communication (NFC) technologies to make secure payments. Compared to contact payment alternatives, they are faster, more secure, more convenient to use and help improve the overall consumer experience. As a result, they are widely used in industries such as retail, healthcare, energy, hospitality, transportation and banking, financial services, and insurance.

One of the key factors driving the growth of the market is the rapid digitization of the banking, financial services and insurance (BFSI) industry across the world. In addition, the growing consumer awareness of the convenience offered by contactless payment tools, and the growing demand for minimized waiting times and faster payments in banks, are also driving the market growth. With this in mind, the appearance of the coronavirus pandemic (Covid-19) has also reinforced the demand for contactless payment solutions that require minimal physical interactions, also contributing to the growth of the market.

In addition, various technological advancements, such as the development of biometric-based contactless smart cards and new RFID tags, are acting as other growth factors. These technologies are widely adopted by small merchants and service providers to conduct cashless transactions using their smartphones.

Other factors, including the widespread adoption of blockchain and 5G technologies, as well as significant improvements in network infrastructure, especially in developing economies, are expected to drive the market. Looking ahead, the publisher expects the global contactless payment market to grow at a CAGR of around 18% during 2021-2026.

Competitive landscape:

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

Key questions addressed in this report:

  • How has the global contactless payment market performed so far and how will it perform in the years to come?
  • What has been the impact of COVID-19 on the global contactless payment market?
  • What are the main regional markets?
  • What is the technology-based market disruption?
  • How is the market split depending on the device?
  • What is the market disruption depending on the solution?
  • What is the market split depending on the application?
  • What are the different stages of the industry value chain?
  • What are the main factors and challenges for the industry?
  • What is the structure of the global contactless payment market and who are the major players?
  • How competitive is the industry?

Main topics covered:

1 Preface

2 Scope and methodology

3 Executive summary

4 Presentation
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 breakdown 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 breakdown by device
7.1 Smartphones and portable devices
7.1.1 Market trends
7.1.2 Market Forecast
7.2 Point of sale 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 breakdown 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 sale
8.4.1 Market trends
8.4.2 Market Forecast
8.5 Payment analysis
8.5.1 Market trends
8.5.2 Market Forecast

9 Market split 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 Transport
9.3.1 Market trends
9.3.2 Market Forecast
9.4 Health care
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 breakdown by region

11 SWOT Analysis

12 Value chain analysis

13 Porters Five Forces Analysis

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 presentation
15.3.1.2 Product portfolio
15.3.2 Heartland Payment Systems (Global Payments Inc.)
15.3.2.1 Company presentation
15.3.2.2 Product portfolio
15.3.3 IDEMIA (Avent International)
15.3.3.1 Company overview
15.3.3.2 Product portfolio
15.3.4 Ingenico Group (Worldline SA)
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 Finances
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 Finances
15.3.8.4 SWOT Analysis
15.3.9 Values
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 presentation
15.3.11.2 Product portfolio
15.3.11.3 Finances
15.3.11.4 SWOT Analysis

For more information on this report, visit https://www.researchandmarkets.com/r/hj0lnq

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Research and markets
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