Contactless Payment Market: size was valued at US$ 1641.6 Billion in 2022 and the total Contactless Payment revenue is expected to grow at 20% through 2022 to 2029, reaching nearly US$ 5882 Billion.
Contactless Payment Market Overview:
The goal of this research is to provide an overview of the Contactless Payment market as well as detailed market segmentation based on connection type, end-use, and geography. The study contains critical information on the market positions of the leading Contactless Payment players, as well as noteworthy industry trends and opportunities.
The analysis also focuses on the Global Contactless Payment market’s key top industry players, providing information such as company biographies, product pictures and specifications, capacity, production, price, cost, revenue, and contact information. This study examines the Contactless Payment Market Trends, Volume, and Value at the Global, Regional, and Company Levels. This report analyses the entire Contactless Payment Market Size from a global perspective by analyzing historical data and prospects.
Market Scope:
The report also focuses on the leading industry players in the Global Contactless Payment market, giving information such as company biographies, product images and specifications, capacity, production, price, cost, revenue, and contact information.
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Segmentation:
In terms of Type, Wearables and Smartphones dominated the global market in 2022. The highest CAGR of 9.5% is anticipated for this market segment throughout the projection (2023-2029). This is because numerous NFC-based mobile payment apps have become popular in emerging nations like China and India, including Paytm and Ali Pay. The increase in online fraud in these nations is a constraining effect on the segment’s growth.
During the same forecast period, the smart card segment is anticipated to experience a noteworthy CAGR of 7.8%. This can be linked to the simplicity of using a debit or credit card to make a purchase. Additionally, the most typical method of payment for online E-Commerce purchases is credit cards. However, smart cards can be broken.
1 Global Contactless Payment Market, by Type (2022-2029)
Smartphones and Wearables
Smart Cards
Point-of-sale (POS) Terminals
2 Global Contactless Payment Market, by Application (2022-2029)
Food and Groceries
Pharmaceuticals
Consumer Electronics
Media and Entertainment
Others
3 Global Contactless Payment Market, by Industry (2022-2029)
BFSI
Retail
IT & Telecom
Transportation
Hospitality
Government
Others
4 Global Contactless Payment Market, by Payment Mode (2022-2029)
Mobile Handsets
Smart Cards
Point of Sale Terminals
NFC Chips
Smart Watches
Others
Key Players:
- 1. Mobeewave
2. Alcineo
3. Castles
4. SumUp
5. PayCore
6. PVERIMATRIX
7. PGoogle
8. PAmazon
9. PApple Inc.
10.PHeartland Payment Systems,Inc.
11.Gemalto
12.Infineon
13.Ingenico
14.Wirecard
15.Verifone
16.Giesecke+Devrient
17.IDEMIA
18.On Track Innovations
19.Identiv
20.CPI Card Group
21.Bitel
22.Setomatic Systems
23.Valitor
24.PAX Global Technology
25.MYPINPAD
Inorganic growth techniques noted in the sector included acquisitions, partnerships, and collaborations. With growing demand, industry participants in the Contactless Payment market are projected to benefit from excellent future growth opportunities. The following are a few companies participating in the worldwide Contactless Payment industry.
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Regional Analysis:
The research also includes a comprehensive PESTLE analysis for each of the five areas, namely North America, Europe, Asia Pacific, the Middle East, and Africa, and South America, after examining the political, economic, social, and technological variables influencing the Contactless Payment market in these regions.
COVID-19 Impact Analysis on Contactless Payment Market:
As a result of the COVID-19 outbreak, customer behavior has transformed throughout all sectors of society. Industries, on the other hand, will need to adjust their strategies to account for altering market supplies. This study gives an outline of the COVID-19’s impact on the Contactless Payment market and will help you build your business in compliance with the new industry standards.
Key Questions Answered in the Contactless Payment Market Report are:
- What will be the CAGR of the Contactless Payment market during the forecast period?
- Which segment emerged as the leading segment in the Contactless Payment market?
- Which are the prominent players in the Contactless Payment market?
- What will be the Contactless Payment market size by 2027?
- Which company held the largest share in the Contactless Payment market?
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