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Contactless Payment Market - Global Forecast to 2021
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The contactless payment market is estimated 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. 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. The report aims at estimating the market size and future growth potential of the market across different segments, such as solutions, services, payment modes, verticals, and regions. The base year considered for the study is 2015 and the forecast period has been considered from 2016 to 2021. 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. During the forecast period, the market is expected to grow at a swift pace. Presently, Europe is the largest market for contactless payment solutions and services.
The research methodology used to estimate and forecast the market begins with capturing data on key vendor revenues through secondary research. The vendor offerings are also taken into consideration to determine market segmentation. The bottom-up procedure was employed to arrive at the overall market size of the global contactless payment market from the revenue of the key players in the market. After arriving at the overall market size, the total market was split into several segments and sub-segments, which were then verified through primary research by conducting extensive interviews with key industry personnel, such as CEOs, VPs, Directors, and Executives. The data triangulation and market breakdown procedures were employed to complete the overall market engineering process and to arrive at the exact statistics for all segments and sub-segments. The breakdown of profiles of primary discussion participants is depicted in the below figure:
To know about the assumptions considered for the study, download the pdf brochure
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. Further the products manufactured by these companies are used by BFSI, retail, healthcare, telecommunication & IT, transportation & logistics, and government sectors.
Key Target audience
- Contactless Payment Solution Providers
- Market Operators (Smart Card Vendors)
- Financial Institutions
- Merchants and Merchant Acquirers
- Technology Providers
- Mobile Network Operators
- Credit/Debit Card Companies
- Cloud Solution Providers
- Contactless Device Manufacturers
- Security Service Providers
- Professional and Managed Service Providers
- System Integrators
- Technology Consultants
Scope of the Report
The research report categorizes the contactless payment market to forecast the revenues and analyze the trends in each of the following sub-segments:
By Solution
- Payment Terminal Solution
- Contactless Mobile Payment Solution
- Device Management Solution
- Transaction Management Solution
- Data Management Solution
- Security and Fraud Management Solution
- Hosted POS Solution
- Analytics Solution
By Payment Mode
- Mobile Handsets
- Contactless Smart Cards
- Contactless Form Factors
By Service
- Professional Services
- Managed Services
- Multi-channel Payment and Value-added Services
By Application
- Government
- BFSI
- Telecommunication & IT
- Transportation & Logistics
- Energy & Utilities
- Healthcare
- Retail
- Hospitality
- Others
By Region
- North America
- Europe
- Asia-Pacific (APAC)
- Middle East and Africa (MEA)
- Latin America
Available Customizations
With the given market data, MarketsandMarkets offers customization as per the company’s specific requirements. The following customization options are available for the report:
Product Analysis
- Product matrix provides a detailed information and product comparison
Geographic Analysis
- Further breakdown of the North America contactless payment market
- Further breakdown of the Europe market
- Further breakdown of the APAC market
- Further breakdown of the MEA market
- Further breakdown of the Latin America market
Company Information
- Detailed analysis and profiling of additional market players
Table of Contents
1 Introduction (Page No. - 15)
1.1 Objectives of the Report
1.2 Market Definition
1.3 Market Scope
1.3.1 Markets Covered
1.3.2 Years Considered in the Report
1.4 Currency
1.5 Limitations
1.6 Stakeholders
2 Research Methodology (Page No. - 18)
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primaries
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumptions and Limitations
2.4.1 Assumptions
2.4.2 Limitations
3 Executive Summary (Page No. - 26)
4 Premium Insights (Page No. - 30)
4.1 Attractive Market Opportunities in the Contactless Payment Market
4.2 Market By Region, 2016 vs 2021
4.3 Market By Service, 2016–2021
4.4 Market By Vertical and Region, 2016
4.5 Lifecycle Analysis, By Region
4.6 Market Investment Scenario
5 Market Overview (Page No. - 34)
5.1 Introduction
5.2 Evolution
5.3 Market Segmentation
5.3.1 By Device
5.3.2 By Solution
5.3.3 By Service
5.3.4 By Payment Mode
5.3.5 By Vertical
5.3.6 By Region
5.4 Market Dynamics
5.4.1 Drivers
5.4.1.1 Reduction in Queuing and Transaction Time and Increased Convenience in Making Low Value Payments
5.4.1.2 Ease of Integration With Existing Cards and Increased Average Transaction Value
5.4.1.3 Better Customer Insights, Improved Service Delivery, and Increased Revenue Opportunity
5.4.2 Restraints
5.4.2.1 High Cost Involved in Deploying Epos Terminals
5.4.2.2 Security Issues Related to Contactless Technologies
5.4.3 Opportunities
5.4.3.1 Increasing Adoption of Contactless Payment Technology in Mobile Handsets and Wearables
5.4.3.2 Mass Adoption of Dual-Interface Chip Technology and Multi-Application Support By NFC and Hce
5.4.4 Challenges
5.4.4.1 Sale of Cashless Readers to Merchants
5.4.4.2 Lack of Standardization and Consumer Awareness
6 Industry Trends (Page No. - 43)
6.1 Introduction
6.2 Value Chain Analysis
6.3 Ecosystem and Roles
6.4 Contactless Payment Standards and Regulations
6.4.1 Introduction
6.4.2 ISO 10536
6.4.3 ISO 14443
6.4.4 ISO 15693
6.5 Strategic Benchmarking
7 Contactless Payment Market Analysis, By Device (Page No. - 48)
7.1 Introduction
7.2 Mobile Handsets
7.3 Point of Sale Terminals
7.4 NFC Chips
7.5 Smart Cards
7.6 Others
8 Contactless Payment Market Analysis, By Solution (Page No. - 50)
8.1 Introduction
8.2 Payment Terminal Solution
8.3 Contactless Mobile Payment Solution
8.4 Device Management Solution
8.5 Transaction Management Solution
8.6 Data Management Solution
8.7 Security and Fraud Management Solution
8.8 Hosted Point of Sale Solution
8.9 Analytics Solution
9 Contactless Payment Market Analysis, By Service (Page No. - 59)
9.1 Introduction
9.2 Professional Services
9.2.1 Consulting Services
9.2.2 Integration and Deployment Services
9.2.3 Support and Maintenance Services
9.3 Managed Services
9.4 Multi-Channel Payment and Value-Added Services
10 Contactless Payment Market Analysis, By Payment Mode (Page No. - 67)
10.1 Introduction
10.2 Mobile Handsets
10.3 Contactless Smart Cards
10.4 Contactless Form Factors
11 Contactless Payment Market Analysis, By Vertical (Page No. - 71)
11.1 Introduction
11.2 Government
11.3 Banking, Financial Services, and Insurance
11.4 Telecommunication and It
11.5 Transportation and Logistics
11.6 Healthcare
11.7 Energy and Utilities
11.8 Retail
11.9 Hospitality
11.10 Others
12 Geographic Analysis (Page No. - 80)
12.1 Introduction
12.2 North America
12.3 Europe
12.4 Asia-Pacific
12.5 Middle East and Africa
12.6 Latin America
13 Competitive Landscape (Page No. - 101)
13.1 Overview
13.2 Portfolio Comparison
13.3 Competitive Situation and Trends
13.3.1 Partnerships, Agreements, and Collaborations
13.3.2 New Product Launches
13.3.3 Business Expansions
13.3.4 Merger and Acquisitions
14 Company Profiles (Page No. - 108)
14.1 Introduction
(Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, Ratio Analysis, MnM View)*
14.2 Gemalto N.V.
14.3 Giesecke & Devrient GmbH
14.4 Ingenico Group
14.5 Verifone Systems, Inc.
14.6 Wirecard AG
14.7 Heartland Payment Systems, Inc.
14.8 Inside Secure
14.9 Oberthur Technologies Sa
14.10 on Track Innovations
14.11 Proxama, PLC
*Details on Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.
15 Appendix (Page No. - 137)
15.1 Insight of Industry Experts
15.2 Discussion Guide
15.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
15.4 Introducing RT: Real-Time Market Intelligence
15.5 Available Customizations
15.6 Related Reports
