the global contactless payment market is expected to experience significant growth in the coming years. The increasing adoption of digital payment solutions, advancements in technology, and the growing trend towards cashless transactions are some of the key drivers of this growth.
Contactless payment is a secure and convenient payment method that allows customers to make transactions using their mobile devices, smart cards, or wearables without the need to physically swipe or insert their card into a payment terminal. This method of payment is gaining popularity among consumers due to its ease of use, faster transaction processing times, and the ability to make payments without physical contact, which is particularly important during the COVID-19 pandemic.
The growing demand for contactless payment is expected to be driven by various end-users, including retail, transportation, healthcare, and hospitality sectors. The adoption of contactless payment in these sectors is expected to increase as businesses strive to provide their customers with a more convenient and secure payment experience.
To download a PDF sample copy of the report, visit @ https://www.reportsanddata.com/download-free-sample/3789
Industry analysts predict that the global contactless payment market will grow at a high compound annual growth rate (CAGR) over the forecast period and reach a substantial market size by 2027. This growth is expected to be driven by the increasing adoption of contactless payment solutions across different regions and the continued advancements in technology that will further improve the security and convenience of this payment method.
the rising trend of e-banking and the shift in preference towards quick and easy transactions using smart cards and mobile phones have indeed contributed to the increased adoption of contactless payment systems in retail stores. As consumers increasingly rely on digital payments, retailers are also responding to this trend by offering contactless payment options to provide a convenient and seamless shopping experience.
Top Companies Operating in the Global Contactless Payment Market:
- Gemalto
- Visa Inc.
- Giesecke Devrient GmbH
- Heartland Payment Systems, Inc.
- Verifone
- Ingenico Group SA
- On Track Innovations Ltd.
- IDEMIA
- Thales Group
- Wirecard AG
Inquiry before buying @ https://www.reportsanddata.com/inquiry-before-buying/3789
Furthermore, the easy availability of debit and credit cards from banks has also contributed to the growth of the contactless payment market. Many banks offer contactless-enabled cards as a standard feature, and this has made it easier for consumers to adopt this payment method.
High-end stores are also opting for contactless payment solutions to support their customers with cashless payment options. This is because contactless payments offer a quick and reliable transaction process, which is highly valued by customers in high-end stores. The availability of contactless payment options can also help to enhance the overall customer experience and increase customer satisfaction.
The global market is further segmented into type and application:
By Component
- Hardware
- PoS Terminals
- Smart Cards
- Solutions
- Services
- Consulting
- Integration Deployment
- Support Maintenance
By End-user
- Retail
- Hospitality
- Healthcare
- Energy Utilities
- Transportation Logistics
- BFSI
- Others
By Technology
- RFID
- NFC
- IR
- Others
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Takeaways of the Competitive Overview Section:
- Overview of the company profiles of each market player
- Industrial chain analysis of each player
- Revenue share contribution
- Sales network and distribution channels and net profits and losses of each company
- Key business growth strategies are undertaken by these players
Request a customized copy of the report @ https://www.reportsanddata.com/request-customization-form/3789
Overall, the combination of changing consumer preferences towards digital payments, the availability of contactless-enabled cards from banks, and the increasing adoption of contactless payment solutions by retailers is expected to continue to drive the growth of the global contactless payment market in the coming years.
Explore More Industry Research by Reports and Data:
Thermal Insulation Coating Market @ https://www.globenewswire.com/news-release/2020/10/22/2112393/0/en/Thermal-Insulation-Coating-Market-Size-To-Reach-USD-13-12-Billion-By-2027-Reports-and-Data.html
Biopesticides Market @ https://www.globenewswire.com/news-release/2020/09/01/2087346/0/en/Biopesticides-Market-To-Reach-USD-10-11-Billion-By-2027-Reports-and-Data.html
High-Temperature Coatings Market @ https://www.globenewswire.com/news-release/2020/09/03/2088867/0/en/High-Temperature-Coatings-Market-To-Reach-USD-5-24-Billion-By-2027-Reports-and-Data.html
Corrosion Inhibitor Market @ https://www.globenewswire.com/news-release/2019/03/18/1756527/0/en/Corrosion-Inhibitor-Market-Is-Expected-To-Reach-USD-9-6-Billion-by-2026.html
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
Contact Us:
John W
Head of Business Development
Reports and Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
