Contactless Payments Market
Contactless Payments - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Contactless Payments market is accounted for $8.00 billion in 2018 and is expected to reach $24.99 billion by 2027 growing at a CAGR of 13.5% during the forecast period. While the factors such as increased customer satisfaction and improved loyalty programs, and enhanced purchase experience are driving the growth of the market. However, the high cost of deploying contactless payment technologies is restraining market growth. Moreover, the rising demand for mobile and wearable payment devices is creating ample opportunities across the globe.
Contactless Payment, a service offered by banks is a secure way for consumers to purchase goods or services via smart cards without signing or entering a pin. A contactless transaction can be done by just tapping the card on a Point of Sale terminal. The primary goal of these payments is to speed up the transaction for consumers. Contactless payment transactions are limited as these are not authenticated by a pin or a signature. Banks and Credit Card issuers also get benefited from contactless payments as the customers who tap tend to use their cards more frequently. In a contactless payment transaction, the data associated with your card or device constantly changes and can hardly be hacked.
Based on end-user, the retail segment is likely to have a huge demand in the forecast period due to retailers are adopting innovative technologies, like cloud computing, big data analytics, digital stores, and social networks, to increase their visibility and presence in the market. Moreover, retailers are modernizing their brick-and-mortar stores to provide improved services for customers and establish online stores to increase revenues.
By geography, Europe is estimated to grow at a significant rate due to the presence of the diverse range of countries such as UK, Spain, and Poland which are the leading countries in total contactless spending with the increasing circulation of contactless cards and terminals by card companies, such as Visa and Mastercard.
Some of the key players in Contactless Payments Market include Gemalto N.V, Giesecke& Devrient Gmbh, Verifone Systems, Inc, Ingenico Group, Wirecard AG, Heartland Payment Systems, Inc, Inside Secure, Oberthur Technologies SA, On Track Innovations, Proxama, Paycor, SumUp, Castle, Alcinéo, and Mobeewave.
Operational Frequencies Covered:
• Ultra High Frequency
• High Frequency
• Low Frequency
Technologies Covered:
• Radio Frequency Identification (RFID) Technology
• Near Field Communication (NFC) Technology
• Infrared (IR) Technology
• Bluetooth
Devices Covered:
• Stickers
• Plastic Cards
• Watch and Wrist Band
• Key Fobs
• Mobile Phones
• Car Tag
• Smart Cards
• Mobile Handsets
Components Covered:
• Solutions
• Services
• Hardware
• Application Programming Interface (API)
• Mobile Applications
• Software Development Kit (SDK)
• Other Components
Transaction Models Covered:
• Offline Stored Value Card
• Speedpass
• E-Z Pass
• Europay, MasterCard and Visa (EMV) Card
• Track 1 and Track 2 Data
End Users Covered:
• Hospitality
• Government & Public Sector
• Telecommunication & IT
• Retail
• Energy & Utilities
• Healthcare
• Transportation & Logistics
• Banking, Financial Services and Insurance (BFSI)
• Education
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o France
o Italy
o UK
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2017, 2018, 2019, 2023 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances.
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Contactless Payments Market, By Operational Frequency
5.1 Introduction
5.2 Ultra High Frequency
5.3 High Frequency
5.4 Low Frequency
6 Global Contactless Payments Market, By Technology
6.1 Introduction
6.2 Radio Frequency Identification (RFID) Technology
6.3 Near Field Communication (NFC) Technology
6.4 Infrared (IR) Technology
6.5 Bluetooth
7 Global Contactless Payments Market, By Devices
7.1 Introduction
7.2 Stickers
7.3 Plastic Cards
7.4 Watch and Wrist Band
7.5 Key Fobs
7.6 Mobile Phones
7.7 Car Tag
7.8 Smart Cards
7.9 Mobile Handsets
8 Global Contactless Payments Market, By Component
8.1 Introduction
8.2 Solutions
8.2.1 Hosted Point-Of-Sale
8.2.2 Payment Terminal Solution
8.2.3 Transaction Management
8.2.4 Security and Fraud Management
8.2.5 Analytics
8.2.6 Data Management Solution
8.2.7 Device Management Solution
8.2.8 Payment Terminal Solution
8.3 Services
8.3.1 Support and Maintenance
8.3.2 Consulting
8.3.3 Integration and Deployment
8.3.4 Managed Services
8.3.5 Professional Services
8.3.6 Multi-channel Payment and Value-added Services
8.4 Hardware
8.4.1 Point Of Sale (POS)
8.5 Application Programing Interface (API)
8.6 Mobile Applications
8.7 Software Development Kit (SDK)
8.8 Other Components
8.8.1 Wearables
8.8.2 Readers
9 Global Contactless Payments Market, By Transaction Models
9.1 Introduction
9.2 Offline Stored Value Card
9.3 Speedpass
9.4 E-Z Pass
9.5 Europay, MasterCard and Visa (EMV) Card
9.6 Track 1 and Track 2 Data
10 Global Contactless Payments Market, By End User
10.1 Introduction
10.2 Hospitality
10.3 Government & Public Sector
10.4 Telecommunication & IT
10.5 Retail
10.6 Energy & Utilities
10.7 Healthcare
10.8 Transportation & Logistics
10.9 Banking, Financial Services and Insurance (BFSI)
10.10 Education
11 Global Contactless Payments Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 Gemalto N.V
13.2 Giesecke& Devrient Gmbh
13.3 Verifone Systems, Inc
13.4 Ingenico Group
13.5 Wirecard AG
13.6 Heartland Payment Systems, Inc
13.7 Inside Secure
13.8 Oberthur Technologies SA
13.9 On Track Innovations
13.10 Proxama
13.11 Paycor
13.12 SumUp
13.13 Castle
13.14 Alcinéo
13.15 Mobeewave
List of Tables
1 Global Contactless Payments Market Outlook, By Region (2017-2027) ($MN)
2 Global Contactless Payments Market Outlook, By Operational Frequency (2017-2027) ($MN)
3 Global Contactless Payments Market Outlook, By Ultra High Frequency (2017-2027) ($MN)
4 Global Contactless Payments Market Outlook, By High Frequency (2017-2027) ($MN)
5 Global Contactless Payments Market Outlook, By Low Frequency (2017-2027) ($MN)
6 Global Contactless Payments Market Outlook, By Technology (2017-2027) ($MN)
7 Global Contactless Payments Market Outlook, By Radio Frequency Identification (RFID) Technology (2017-2027) ($MN)
8 Global Contactless Payments Market Outlook, By Near Field Communication (NFC) Technology (2017-2027) ($MN)
9 Global Contactless Payments Market Outlook, By Infrared (IR) Technology (2017-2027) ($MN)
10 Global Contactless Payments Market Outlook, By Bluetooth (2017-2027) ($MN)
11 Global Contactless Payments Market Outlook, By Devices (2017-2027) ($MN)
12 Global Contactless Payments Market Outlook, By Stickers (2017-2027) ($MN)
13 Global Contactless Payments Market Outlook, By Plastic Cards (2017-2027) ($MN)
14 Global Contactless Payments Market Outlook, By Watch and Wrist Band (2017-2027) ($MN)
15 Global Contactless Payments Market Outlook, By Key Fobs (2017-2027) ($MN)
16 Global Contactless Payments Market Outlook, By Mobile Phones (2017-2027) ($MN)
17 Global Contactless Payments Market Outlook, By Car Tag (2017-2027) ($MN)
18 Global Contactless Payments Market Outlook, By Smart Cards (2017-2027) ($MN)
19 Global Contactless Payments Market Outlook, By Mobile Handsets (2017-2027) ($MN)
20 Global Contactless Payments Market Outlook, By Component (2017-2027) ($MN)
21 Global Contactless Payments Market Outlook, By Solutions (2017-2027) ($MN)
22 Global Contactless Payments Market Outlook, By Hosted Point-Of-Sale (2017-2027) ($MN)
23 Global Contactless Payments Market Outlook, By Payment Terminal Solution (2017-2027) ($MN)
24 Global Contactless Payments Market Outlook, By Transaction Management (2017-2027) ($MN)
25 Global Contactless Payments Market Outlook, By Security and Fraud Management (2017-2027) ($MN)
26 Global Contactless Payments Market Outlook, By Analytics (2017-2027) ($MN)
27 Global Contactless Payments Market Outlook, By Data Management Solution (2017-2027) ($MN)
28 Global Contactless Payments Market Outlook, By Device Management Solution (2017-2027) ($MN)
29 Global Contactless Payments Market Outlook, By Payment Terminal Solution (2017-2027) ($MN)
30 Global Contactless Payments Market Outlook, By Services (2017-2027) ($MN)
31 Global Contactless Payments Market Outlook, By Support and Maintenance (2017-2027) ($MN)
32 Global Contactless Payments Market Outlook, By Consulting (2017-2027) ($MN)
33 Global Contactless Payments Market Outlook, By Integration and Deployment (2017-2027) ($MN)
34 Global Contactless Payments Market Outlook, By Managed Services (2017-2027) ($MN)
35 Global Contactless Payments Market Outlook, By Professional Services (2017-2027) ($MN)
36 Global Contactless Payments Market Outlook, By Multi-channel Payment and Value-added Services (2017-2027) ($MN)
37 Global Contactless Payments Market Outlook, By Hardware (2017-2027) ($MN)
38 Global Contactless Payments Market Outlook, By Point Of Sale (POS) (2017-2027) ($MN)
39 Global Contactless Payments Market Outlook, By Application Programing Interface (API) (2017-2027) ($MN)
40 Global Contactless Payments Market Outlook, By Mobile Applications (2017-2027) ($MN)
41 Global Contactless Payments Market Outlook, By Software Development Kit (SDK) (2017-2027) ($MN)
42 Global Contactless Payments Market Outlook, By Other Components (2017-2027) ($MN)
43 Global Contactless Payments Market Outlook, By Wearables (2017-2027) ($MN)
44 Global Contactless Payments Market Outlook, By Readers (2017-2027) ($MN)
45 Global Contactless Payments Market Outlook, By Transaction Models (2017-2027) ($MN)
46 Global Contactless Payments Market Outlook, By Offline Stored Value Card (2017-2027) ($MN)
47 Global Contactless Payments Market Outlook, By Speedpass (2017-2027) ($MN)
48 Global Contactless Payments Market Outlook, By E-Z Pass (2017-2027) ($MN)
49 Global Contactless Payments Market Outlook, By Europay, MasterCard and Visa (EMV) Card (2017-2027) ($MN)
50 Global Contactless Payments Market Outlook, By End User (2017-2027) ($MN)
51 Global Contactless Payments Market Outlook, By Hospitality (2017-2027) ($MN)
52 Global Contactless Payments Market Outlook, By Government & Public Sector (2017-2027) ($MN)
53 Global Contactless Payments Market Outlook, By Telecommunication & IT (2017-2027) ($MN)
54 Global Contactless Payments Market Outlook, By Retail (2017-2027) ($MN)
55 Global Contactless Payments Market Outlook, By Energy & Utilities (2017-2027) ($MN)
56 Global Contactless Payments Market Outlook, By Healthcare (2017-2027) ($MN)
57 Global Contactless Payments Market Outlook, By Transportation & Logistics (2017-2027) ($MN)
58 Global Contactless Payments Market Outlook, By Banking, Financial Services and Insurance (BFSI) (2017-2027) ($MN)
59 Global Contactless Payments Market Outlook, By Education (2017-2027) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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