According to a new market research report "Contactless Payment Market by Solution (Payment Terminal,
Mobile Payment, Transaction & Data Management, Security and Fraud
Management), Service (Professional, Managed), Payment Mode (Mobile Handsets,
Smart Cards), Vertical - Global Forecast to 2021", published by MarketsandMarkets, the
market size is expected to grow from USD 6.70 Billion in
2016 to USD
17.56 Billion by 2021, at
a Compound Annual Growth Rate (CAGR) of 21.2% during the forecast period.
Browse 69 market data Tables with 48 Figures spread through 153 Pages and in-depth TOC on "Contactless Payment Market"
Browse 69 market data Tables with 48 Figures spread through 153 Pages and in-depth TOC on "Contactless Payment Market"
http://www.marketsandmarkets.com/Market-Reports/contactless-payments-market-1313.html
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Early buyers will receive 10% customization on this report.
The major drivers of this market include reduction in
queuing and transaction time, increased convenience in making low value
payments, ease of technology integration with existing cards, increased average
transaction value, better customer insights, improved service delivery, and
increased revenue opportunity.
Multi-channel payment and value-added services segment is
expected to be the most promising segments during the forecast period
The Contactless Payment Market has been segmented into
solutions, services, payment mode, and verticals. Mobile handsets as payment
mode and healthcare segments are projected to grow at a high growth rate;
hence, will present good market opportunities during the forecast period.
Multi-channel payment and value-added services hold a major share in the
contactless payment services segment. The increasing integration of contactless
payment technologies in different industries is considered as the primary
driver influencing the growth of the contactless payment services market.
Mobile handsets payment mode is expected to be the most
promising segments during the forecast period
Contactless smart cards command the major share in the
contactless payment modes. However, mobile handsets are fast picking up as the
most preferred mode of payment in the developing countries of the world as
these are more secure and convenient for the customers to make their payments.
Presently, Europe contributes
the maximum market share in the Contactless Payment Market
Europe is expected to hold the largest market share and dominate
the Contactless Payment Market in 2016 due to technological advancement and
increasing contactless smart card roll-outs in this region. From 2016 to 2021,
APAC is estimated to grow at the highest rate during this forecast period and
is becoming a new hotspot for contactless payment vendors as a revenue
generating region. Furthermore, North America is
expected to be another revenue generating market, with solution market as the
leading revenue generating segment. This growth is driven by increasing
adoption of cloud-based contactless technology solutions in the region.
The major vendors covered in the Contactless Payment
Market for the study include Gemalto N.V., Giesecke & Devrient GmbH,
Ingenico Group, VeriFone Systems Inc., Wirecard AG, Heartland Payment Systems
Inc., INSIDE Secure, OTI, Oberthur Technologies SA, and Proxama PLC.
MarketsandMarkets segments the Contactless Payment Market
on the basis of solutions, services, payment mode, verticals, and region. The
scope of the report covers detailed information regarding the major factors
influencing the growth of the Contactless
Payment Market such as
drivers, restraints, challenges, and opportunities. A detailed analysis of the
key industry players has been done to provide insights into their business
overview, products and services, key strategies, new product launches, mergers
& acquisitions, partnerships, agreements, collaborations, and recent developments
associated with the security analytics market.
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