Contactless Payment Market size was valued at US$ 1368 Billion in 2021 and the total Contactless Payment revenue is expected to grow at 20% through 2022 to 2029, reaching nearly US$ 5882 Billion.
Contactless Payment Market Overview
The Contactless Payment Market 2021 by Manufacturers, Regions, Type and Application, Forecast to 2029, published by Maximize Market Research, is the culmination of thorough primary and secondary research. The report provides a detailed analysis of regional insights into the Contactless Payment market, and its changing trends, industry environment, and all of the market-leading key players. The research approach was used to investigate the global Contactless Payment market and the results were logically presented in the report.
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Contactless Payment Market size was valued at US$ 1368 Billion in 2021 and the total Contactless Payment revenue is expected to grow at 20% through 2022 to 2029, reaching nearly US$ 5882 Billion.
Contactless Payment Market Scope
MMR's research is a detailed analysis of the Contactless Payment market and identifies all of the top major companies in the global market based on variables such as volume, value, market share, strategies, and growth in the industry. The research also includes tactics for both existing industry participants and those looking to enter the market i.e. new market entrants.
Market Dynamics:
The growing acceptance of near communication payment methods by businesses and retailers all over the world is the main factor driving the global contactless payment market. The NFC technology allows for close proximity communication between various electronic devices. Fast transactions, customer satisfaction, and secure payment options are all provided by NFC solutions. Additionally, it is anticipated that during the forecast period, the development of numerous technologies, such as biometric smart cards, will serve as the primary driver of contactless payment methods worldwide (2021-2029).
Market Segmentation:
In terms of Type, Wearables and Smartphones dominated the global market in 2021. During the forecast period, this segment is anticipated to experience the highest CAGR of 9.5%. (2021-2029). This is because numerous NFC-based mobile payment apps have become popular in developing nations like China and India, including Paytm and Ali Pay. The increase in online fraud in these nations is a constraining factor on the segment's growth.
In terms of Application, the Food and Groceries industry dominated the world market in 2021. With an 8.7% CAGR, this segment is anticipated to grow at the highest rate during the forecast period (2021-2029). Online food ordering businesses like Swiggy and Zomato also offer online payment options like G-pay or Amazon Pay in their apps. As a result, these businesses indirectly stimulate the global market for contactless payment systems.
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Key Players:
• Mobeewave
• Alcineo
• Castles
• SumUp
• PayCore
• PVERIMATRIX
• PGoogle
• PAmazon
• PApple Inc.
• PHeartland Payment Systems,Inc.
• Gemalto
• Infineon
• Ingenico
• Wirecard
• Verifone
• Giesecke+Devrient
• IDEMIA
• On Track Innovations
• Identiv
• CPI Card Group
• Bitel
• Setomatic Systems
• Valitor
• PAX Global Technology
• MYPINPAD
Regional Analysis
The report provides the global Contactless Payment Market's growth pattern in detail. The report on the Contactless Payment market demonstrates the most significant regions, which include 5 regions, such as North America, Asia Pacific, Europe, Latin America, the Middle East, and Africa, have global influence. Consumption quantities, manufacturing sites and volumes, import-export analysis, price trend analysis, cost of raw materials, and value chain analysis are some of the major and important indicators used during the forecast of Contactless Payment market for each country.
Key Questions answered in the Contactless Payment Market Report are:
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Key offerings:
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include science and engineering, electronic components, industrial equipment, technology, and communication, cars, and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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Maximize Market Research provides B2B and B2C research on 12,500 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Bever
Contactless Payment Market , Contactless Payment Market Regional growth , Contactless Payment Market Key players
Mar 03, 2023