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Global Contact less payment Market to reach USD 22.34 billion by 2027

Global Contact less payment Market Size study, by Component (Hardware, Solution, Services), by Vertical (Retail, Hospitality, Healthcare) and Regional Forecasts 2020-2027

Product Code: BAFB_37744575
Publish Date: 26-12-2020
Page: 200

Global Contact less payment Market is valued at approximately USD 9.22 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 11.7% over the forecast period 2020-2027. Contactless payment, through the use of devices such as smart cards, wearables, key fobs, smartphones, and others, is a safe way for customers to buy goods or services. In order to enable contactless transactions in the contactless payment industry, contactless payment mainly uses Radio-frequency Identification (RFID) and Near Field Communication (NFC) technologies. Factors that are expected to drive the growth of the market over the forecast period are the paradigm shift in payment preferences and knowledge among clients. For contact less payment cell phone, key fobs, stickers and cards are used. Via an EMV contactless card, NFC cell phone or regular contactless travel card, these payment methods provide efficient and fast payment solutions. Therefore, this factor may strengthen the adoption for the global Contact less payment market in the coming years. For instance, in 2018, according to Federal Bank of San Francisco, cash use accounted for 35 per cent of in-person payments. Whereas, In-person credit card and debit card payment shares rose, while in-person check payments continued to decline. Moreover, increasing contactless technologies in different applications such as vending machines, ticketing, toll booths, and fuel stations are expected to boost market growth are the few factors responsible for the CAGR of the market during the forecast period. However, some of the factors limiting the growth of the global Contactless payment market are increased rules & regulations imposed by banks for payment over the forecast period of 2020-2027.

The regional analysis of the global Contact less payment market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. Europe is the leading/significant region across the world in terms of market share owing to Early adoption by end users of advanced technology in the region. Whereas Asia-Pacific is also anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027, owing to Increase in wearable product adoption rate

Major market player included in this report are:
Oberthur Technologies S.A.
On Track Innovations
PAX Technology, Inc.
Proxama Plc

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Component:

By Vertical:
By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027

Target Audience of the Global Contact less payment Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2027 (USD Billion)
1.2.1. Contact less payment Market, by Region, 2018-2027 (USD Billion)
1.2.2. Contact less payment Market, by Component, 2018-2027 (USD Billion)
1.2.3. Contact less payment Market, by Vertical, 2018-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Contact less payment Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Contact less payment Market Dynamics
3.1. Contact less payment Market Impact Analysis (2018-2027)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Contact less payment Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2017-2027)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Contact less payment Market, by Component
5.1. Market Snapshot
5.2. Global Contact less payment Market by Component, Performance – Potential Analysis
5.3. Global Contact less payment Market Estimates & Forecasts by Component 2017-2027 (USD Billion)
5.4. Contact less payment Market, Sub Segment Analysis
5.4.1. Hardware
5.4.2. Solution
5.4.3. Services
Chapter 6. Global Contact less payment Market, by Vertical
6.1. Market Snapshot
6.2. Global Contact less payment Market by Vertical, Performance – Potential Analysis
6.3. Global Contact less payment Market Estimates & Forecasts by Vertical 2017-2027 (USD Billion)
6.4. Contact less payment Market, Sub Segment Analysis
6.4.1. Retail
6.4.2. Hospitality
6.4.3. Healthcare
Chapter 7. Global Contact less payment Market, Regional Analysis
7.1. Contact less payment Market, Regional Market Snapshot
7.2. North America Contact less payment Market
7.2.1. U.S. Contact less payment Market Component breakdown estimates & forecasts, 2017-2027 Vertical breakdown estimates & forecasts, 2017-2027
7.2.2. Canada Contact less payment Market
7.3. Europe Contact less payment Market Snapshot
7.3.1. U.K. Contact less payment Market
7.3.2. Germany Contact less payment Market
7.3.3. France Contact less payment Market
7.3.4. Spain Contact less payment Market
7.3.5. Italy Contact less payment Market
7.3.6. Rest of Europe Contact less payment Market
7.4. Asia-Pacific Contact less payment Market Snapshot
7.4.1. China Contact less payment Market
7.4.2. India Contact less payment Market
7.4.3. Japan Contact less payment Market
7.4.4. Australia Contact less payment Market
7.4.5. South Korea Contact less payment Market
7.4.6. Rest of Asia Pacific Contact less payment Market
7.5. Latin America Contact less payment Market Snapshot
7.5.1. Brazil Contact less payment Market
7.5.2. Mexico Contact less payment Market
7.6. Rest of The World Contact less payment Market
Chapter 8. Competitive Intelligence
8.1. Top Market Strategies
8.2. Company Profiles
8.2.1. Gemalto Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
8.2.2. Giesecke+Devrient
8.2.3. Ingenico
8.2.4. InsideSecure
8.2.5. Oberthur Technologies S.A.
8.2.6. On Track Innovations
8.2.7. PAX Technology, Inc.
8.2.8. Proxama Plc
8.2.9. Verifone
8.2.10. Wirecard
Chapter 9. Research Process
9.1. Research Process
9.1.1. Data Mining
9.1.2. Analysis
9.1.3. Market Estimation
9.1.4. Validation
9.1.5. Publishing
9.2. Research Attributes
9.3. Research Assumption

The study of the market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geographies to provide a better regional outlook. In the report, country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. Our analysts contact company executives, managers, key opinion leaders, and industry experts. This enables our analyst to derive the closest possible figures without any major deviations in the actual number.

Primary Research Sources:

  • Interview conducted with raw material suppliers & manufacturers.
  • Interview conducted with manufacturers, suppliers & distributors, researchers, & representatives of regulatory bodies.
  • Interview conducted with market players, industry experts, & independent consultants.
  • Secondary Research Sources:
  • Purchased Database: D&B Hoovers, Bloomberg, Inc., Business Information Industry Association, NAICS Association.
  • Internal Database: White papers, Certified Publications, Articles by Recognized Authors and Regulatory Bodies.
  • Government Databases: Food and Agriculture Organization (FAO), European Industrial Hemp Association (EIHA), World Health Organization (WHO), Food and Drug Administration (FDA), International Telecommunication Union (ITU), United States Department of Agriculture (USDA), International organization of Motor Vehicle Manufacturers (OICA).

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