According to the Research "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", The contactless payment 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.
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The deployment of contactless payment solutions help the organizations and individuals to ensure secure payments which increase the convenience, enhance the operational efficiency, and technology integration, and also create competitive differentiation in the rapidly evolving cashless society.
Factors Responsible For Growth-
The contactless payment ecosystem comprises chip suppliers such as ST Microelectronics (Switzerland), INSIDE Secure (France), and Infineon Technologies (Germany), contactless card suppliers such as Gemalto N.V. (Netherlands), Giesecke & Devrient GmbH (Germany), and Oberthur Technologies (France), cashless reader suppliers such as OTI (Israel), Diebold Inc. (U.S.), and HID Global (U.S.), system integrators such as Verifone Systems Inc. (U.S.), STS Payments (U.K.), and MCR Systems Inc. (U.K.), and card issuing financial institutions such as Bank of America (U.S.), J.P. Morgan Chase (U.S.), and Citi Group (U.S.) , among others.
Region Wise Growth during Forecast-
Europe is expected to account for the largest share of the overall market in 2016 due to technological advancement and increasing contactless smart card roll-outs in the region. North America stands second in terms of market share. APAC is the fastest growing region during the forecast period. The high growth rate in APAC is attributed to the increasing technological adoption and growing number of contactless payment technology enabled mobile handsets in countries such as China, Japan, Australia, and India.
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Our 850-fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
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Tel: 1-888-600-6441
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Browse 69 market data tables with 48 figures spread through 146 pages and in-depth TOC on "Contactless Payment Market"
http://www.marketsandmarkets.com/Market-Reports/contactless-payments-market-1313.html
Early buyers will receive 10% customization on reports.
The deployment of contactless payment solutions help the organizations and individuals to ensure secure payments which increase the convenience, enhance the operational efficiency, and technology integration, and also create competitive differentiation in the rapidly evolving cashless society.
Factors Responsible For Growth-
- With the increasing integration of contactless payment technology in mobile handsets and smart phones, the demand for contactless payment solutions has grown tremendously across all the countries.
- Reduction in queuing and transaction time, increased convenience in making low value payments, ease of integration with existing cards, increased average transaction value, better customer insights, improved service delivery, and increased revenue opportunity are the major driving factors for the growth of this market.
- The contactless mobile payment solution is the fastest-growing solution due to the global increase in the number of HCE and NFC-enabled smart phones, which support contactless payment transactions.
The contactless payment ecosystem comprises chip suppliers such as ST Microelectronics (Switzerland), INSIDE Secure (France), and Infineon Technologies (Germany), contactless card suppliers such as Gemalto N.V. (Netherlands), Giesecke & Devrient GmbH (Germany), and Oberthur Technologies (France), cashless reader suppliers such as OTI (Israel), Diebold Inc. (U.S.), and HID Global (U.S.), system integrators such as Verifone Systems Inc. (U.S.), STS Payments (U.K.), and MCR Systems Inc. (U.K.), and card issuing financial institutions such as Bank of America (U.S.), J.P. Morgan Chase (U.S.), and Citi Group (U.S.) , among others.
Region Wise Growth during Forecast-
Europe is expected to account for the largest share of the overall market in 2016 due to technological advancement and increasing contactless smart card roll-outs in the region. North America stands second in terms of market share. APAC is the fastest growing region during the forecast period. The high growth rate in APAC is attributed to the increasing technological adoption and growing number of contactless payment technology enabled mobile handsets in countries such as China, Japan, Australia, and India.
Download PDF Brochure@ http://www.marketsandmarkets.com/pdfdownload.asp?id=1313
About MarketsandMarkets™:
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850-fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Rohan
MarketsandMarkets™
701 Pike Street
Suite 2175, Seattle,
WA 98101, United States
Tel: 1-888-600-6441
Email: sales@marketsandmarkets.com
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