Contactless Payment Market Trends, Size, Growth, Opportunity, Industry Report and Competitive Outlook 2021-26


SHERIDAN, WY, USA, Nov 16, 2021 / – According to the latest report from IMARC Group, titled “Contactless Payment Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2021-2026 ”, The contactless payment market reached a value of US $ 10.50 billion in 2020. Going forward, IMARC Group expects the market to grow at a CAGR of around 18 % between 2021 and 2026.

As the novel coronavirus (COVID-19) crisis sweeps the world, we are continuously monitoring changes in markets, as well as consumer buying behaviors around the world – our estimates on the latest market trends and values. forecasts after examining the impact of this pandemic. These observations will be incorporated into the report.

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Contactless payment refers to a secure method of paying for goods and services. The process uses smartphones, smart cards, wearable devices, and key chains that can instantly complete a transaction with a gesture or a touch. It consists of chips or antennas built into the device to facilitate contactless transactions in a point of sale (POS) terminal. Contactless payment is considered an efficient payment solution because it offers increased transaction speed and enhanced security.

Market trends and drivers:

The global contactless payment market is primarily driven by the increasing penetration of the internet, which facilitates the adoption of digital payment platforms. This is further supported by the growing demand for transparent payment processes in everyday life. Contactless payment offers various advantages such as ease of use, low cost of deployment and mobility. This helps reduce the time spent queuing at various point-of-sale terminals and speeding up checkouts at banks. In addition to this, contactless payment is gaining ground in merchant outlets selling low-value products, such as drinks and snacks. They also find applications in counters and toll booths, gas stations and vending machines. Governments around the world are also providing incentives for the development of smart solutions and network infrastructure. In addition, the growing awareness of different payment methods, the changing preference towards contactless technologies and the need for safe and secure transactions are propelling the growth of the market.

Competitive analysis and segmentation of the contactless payment market 2021-2026:

Competitive landscape:

The competitive landscape of the contactless payment market has been studied in the report along with the detailed profiles of the major players operating in the market.

Some of these key players include:

Thales Group
Pax technology
On Track Innovations Ltd.
Heartland Payment Systems (Global Payments Inc.)
IDEMIA (Avent International)
Visa inc.
Ingenico Group (Worldline SA)
Giesecke & Devrient GmbH
Verifone Systems Inc. (Francisco Partners)
Setomatic Systems

Key market segmentation:

The report segmented the contactless payment market on the basis of technology, device, solution, application, and region.

Breakdown by technology:

Near Field Communication (NFC)
Radio frequency identification (RFID)
Infrared (IR)

Breakdown by device:

Smartphones and portable devices
Point of sale terminals

Breakdown by solution:

Payment terminal solution
Transaction management
Security and fraud management
Hosted points of sale
Payments analysis

Breakdown by application:

Health care

Breakdown by region:

North America
Asia Pacific
Latin America
Middle East and Africa

Ask the analyst for a customization and explore the full report with table of contents and list of figures:

Highlights of the report:

Market performance (2015-2020)
Market Outlook (2021-2026)
Porter’s Five Forces Analysis
Market drivers and success factors
SWOT analysis
The impact of COVID-19 on the global market
Value chain analysis
Global market structure
Complete mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as part of the customization.

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About Us

The IMARC group is a leading market research company providing management strategies and market research worldwide. We partner with clients across industries and regions to identify their most exciting opportunities, address their most critical challenges and transform their businesses.

IMARC’s information products include key business, scientific, economic and technological developments for business leaders in pharmaceutical, industrial and high-tech organizations. Market forecasting and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology, and new processing methods are at the top of the market. business expertise.

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Elena Anderson
IMARC Services Private Limited
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