Global Contactless Services Growth Opportunities

Post-pandemic Transformative Consumer Behavior Will Lead to Innovative Business Models

The severity of the COVID-19 pandemic and its impact has transcended all aspects of our day-to-day lives, and it is difficult the fathom the challenges faced by various business verticals. To reverse the apprehensions instilled in people's minds with regard to personal hygiene and safety and return to the pre-pandemic stage of stability, businesses across all industries have realized the need to incorporate contactless/no-touch solutions in existing operating models.

The change triggered by the pandemic is tangible, and it can be felt across all consumer cohorts. Traditional brick-and-mortar store operators are gradually moving to the omnichannel model of operations to retain their consumer base and allow customers to make their purchases without having to visit the store physically.

An Enhanced Customer Experience is no longer a marketing strategy taken up by businesses but a mandate in the post-COVID era. This makes it all the more important for businesses and brands to take up a strategy that provides users with a virtualized experience and helps them seamlessly navigate various touchpoints without having to explicitly engage in human-human interactions.

In addition, the demographic shift will act as a catalyst in this transition. For example, GenZs and Millenials are digital natives, and they are expected to emerge as the largest consumer cohort and overpower the impact of any other consumer segment. Furthermore, being driven by the pandemic, businesses will be keen to provide this tech-savvy generation with futuristic consumer experiences.

Approximately 60% of the global population is expected to dwell in urban areas by 2030, and out of every 6 citizens, 2 will be 60+ years. This implies that the existing healthcare infrastructure may not be able to cater to the rising demand, which could prompt a steep rise in investment in the automation of the healthcare sector through advanced technologies such as AI, Big Data, ML, NLP, and telehealth.

Research Scope:

This Frost & Sullivan study offers an overview of global contactless services growth opportunities, and the focus is on the increased adoption of no-touch digital solutions that will lead to a contactless society or a no-touch society. The study also provides a brief narrative of various industries' move to a virtual space of operation and their effective minimization of human-human interactions.

Key Issues Addressed:

• Which important segments enable contactless services?

• Which disruptive technologies facilitate contactless services?

• What are the key performance indicators for businesses (post deployment of no-touch solutions)?

• What are the critical success factors for growth for governments and companies seeking to enter this space?