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PUBLISHER: IMARC | PRODUCT CODE: 1378951
PUBLISHER: IMARC | PRODUCT CODE: 1378951
Contactless Payment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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PAGES: 140 Pages
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Abstract
The global contactless payment market size reached US$ 13.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 26.7 Billion by 2028, exhibiting a growth rate (CAGR) of 11.9% during 2022-2028.
Contactless payment refers to a payment alternative that enables the users to make digital payments without requiring physical contact between the parties. It involves the use of credit, debit and smart cards, key fobs and smartphone-based online payment applications. They are embedded with an integrated circuit (IC) chip and antenna and operate through radio-frequency identification (RFID) or near field communication (NFC) technologies for making secured payments. In comparison to the contact-based payment alternatives, they are faster, more secure, convenient to use and aid in improving the overall consumer experience. As a result, they are widely used across industries, such as retail, healthcare, energy, hospitality, transportation and banking, financial services and insurance.
Global Contactless Payment Market Trends and Drivers:
Rapid digitization of the banking, financial services and insurance (BFSI) industry across the globe represents one of the key factors driving the growth of the market. Furthermore, increasing consumer awareness regarding the convenience offered by contactless payment tools and the rising demand for minimized queue time and faster checkouts at banks, are also driving the market growth. In line with this, the onset of coronavirus (COVID-19) pandemic has also enhanced the demand for contactless payment solutions that require minimal physical interactions, is also contributing to the market growth. Additionally, various technological advancements, such as the development of biometric-based contactless smart cards and novel RFID tags, are acting as other growth-inducing factors. These technologies are widely adopted by small merchants and service providers to conduct cashless transactions by using their smartphones. Other factors, including the widespread adoption of blockchain and 5G technologies, along with significant improvements in the networking infrastructure, especially in the developing economies, are anticipated to drive the market further.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global contactless payment market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on technology, device, solution and application.
Breakup by Technology:
Near Field Communication (NFC)
Radio Frequency Identification (RFID)
Infrared (IR)
Others
Breakup by Device:
Smartphones and Wearables
Point-of-Sale Terminals
Smart Cards
Breakup by Solution:
Payment Terminal Solution
Transaction Management
Security and Fraud Management
Hosted Point-of-Sales
Payment Analytics
Breakup by Application:
BFSI
Retail
Transportation
Healthcare
Others
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Giesecke & Devrient GmbH, Heartland Payment Systems (Global Payments Inc.), IDEMIA (Advent International), Ingenico Group (Worldline S.A.), On Track Innovations Ltd., Pax Technology, Setomatic Systems, Thales Group, Valitor, Verifone Systems Inc. (Francisco Partners) and Visa Inc.
Key Questions Answered in This Report:
- How has the global contactless payment market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global contactless payment market?
- What are the key regional markets?
- What is the breakup of the market based on the technology?
- What is the breakup of the market based on the device?
- What is the breakup of the market based on the solution?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global contactless payment market and who are the key players?
- What is the degree of competition in the industry?
Product Code: SR112023A3514
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Contactless Payment Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Technology
- 6.1 Near Field Communication (NFC)
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Radio Frequency Identification (RFID)
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Infrared (IR)
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
- 6.4 Others
- 6.4.1 Market Trends
- 6.4.2 Market Forecast
7 Market Breakup by Device
- 7.1 Smartphones and Wearables
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Point-of-Sales Terminals
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Smart Cards
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
8 Market Breakup by Solution
- 8.1 Payment Terminal Solution
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Transaction Management
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Security and Fraud Management
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Hosted Point-of-Sales
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
- 8.5 Payment Analytics
- 8.5.1 Market Trends
- 8.5.2 Market Forecast
9 Market Breakup by Application
- 9.1 BFSI
- 9.1.1 Market Trends
- 9.1.2 Market Forecast
- 9.2 Retail
- 9.2.1 Market Trends
- 9.2.2 Market Forecast
- 9.3 Transportation
- 9.3.1 Market Trends
- 9.3.2 Market Forecast
- 9.4 Healthcare
- 9.4.1 Market Trends
- 9.4.2 Market Forecast
- 9.5 Others
- 9.5.1 Market Trends
- 9.5.2 Market Forecast
10 Market Breakup by Region
- 10.1 North America
- 10.1.1 United States
- 10.1.1.1 Market Trends
- 10.1.1.2 Market Forecast
- 10.1.2 Canada
- 10.1.2.1 Market Trends
- 10.1.2.2 Market Forecast
- 10.1.1 United States
- 10.2 Asia-Pacific
- 10.2.1 China
- 10.2.1.1 Market Trends
- 10.2.1.2 Market Forecast
- 10.2.2 Japan
- 10.2.2.1 Market Trends
- 10.2.2.2 Market Forecast
- 10.2.3 India
- 10.2.3.1 Market Trends
- 10.2.3.2 Market Forecast
- 10.2.4 South Korea
- 10.2.4.1 Market Trends
- 10.2.4.2 Market Forecast
- 10.2.5 Australia
- 10.2.5.1 Market Trends
- 10.2.5.2 Market Forecast
- 10.2.6 Indonesia
- 10.2.6.1 Market Trends
- 10.2.6.2 Market Forecast
- 10.2.7 Others
- 10.2.7.1 Market Trends
- 10.2.7.2 Market Forecast
- 10.2.1 China
- 10.3 Europe
- 10.3.1 Germany
- 10.3.1.1 Market Trends
- 10.3.1.2 Market Forecast
- 10.3.2 France
- 10.3.2.1 Market Trends
- 10.3.2.2 Market Forecast
- 10.3.3 United Kingdom
- 10.3.3.1 Market Trends
- 10.3.3.2 Market Forecast
- 10.3.4 Italy
- 10.3.4.1 Market Trends
- 10.3.4.2 Market Forecast
- 10.3.5 Spain
- 10.3.5.1 Market Trends
- 10.3.5.2 Market Forecast
- 10.3.6 Russia
- 10.3.6.1 Market Trends
- 10.3.6.2 Market Forecast
- 10.3.7 Others
- 10.3.7.1 Market Trends
- 10.3.7.2 Market Forecast
- 10.3.1 Germany
- 10.4 Latin America
- 10.4.1 Brazil
- 10.4.1.1 Market Trends
- 10.4.1.2 Market Forecast
- 10.4.2 Mexico
- 10.4.2.1 Market Trends
- 10.4.2.2 Market Forecast
- 10.4.3 Others
- 10.4.3.1 Market Trends
- 10.4.3.2 Market Forecast
- 10.4.1 Brazil
- 10.5 Middle East and Africa
- 10.5.1 Market Trends
- 10.5.2 Market Breakup by Country
- 10.5.3 Market Forecast
11 SWOT Analysis
- 11.1 Overview
- 11.2 Strengths
- 11.3 Weaknesses
- 11.4 Opportunities
- 11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis
- 13.1 Overview
- 13.2 Bargaining Power of Buyers
- 13.3 Bargaining Power of Suppliers
- 13.4 Degree of Competition
- 13.5 Threat of New Entrants
- 13.6 Threat of Substitutes
14 Price Analysis
15 Competitive Landscape
- 15.1 Market Structure
- 15.2 Key Players
- 15.3 Profiles of Key Players
- 15.3.1 Giesecke & Devrient GmbH
- 15.3.1.1 Company Overview
- 15.3.1.2 Product Portfolio
- 15.3.2 Heartland Payment Systems (Global Payments Inc.)
- 15.3.2.1 Company Overview
- 15.3.2.2 Product Portfolio
- 15.3.3 IDEMIA (Advent International)
- 15.3.3.1 Company Overview
- 15.3.3.2 Product Portfolio
- 15.3.4 Ingenico Group (Worldline S.A.)
- 15.3.4.1 Company Overview
- 15.3.4.2 Product Portfolio
- 15.3.5 On Track Innovations Ltd
- 15.3.5.1 Company Overview
- 15.3.5.2 Product Portfolio
- 15.3.5.3 Financials
- 15.3.6 Pax Technology
- 15.3.6.1 Company Overview
- 15.3.6.2 Product Portfolio
- 15.3.7 Setomatic Systems
- 15.3.7.1 Company Overview
- 15.3.7.2 Product Portfolio
- 15.3.8 Thales Group
- 15.3.8.1 Company Overview
- 15.3.8.2 Product Portfolio
- 15.3.8.3 Financials
- 15.3.8.4 SWOT Analysis
- 15.3.9 Valitor
- 15.3.9.1 Company Overview
- 15.3.9.2 Product Portfolio
- 15.3.10 Verifone Systems Inc. (Francisco Partners)
- 15.3.10.1 Company Overview
- 15.3.10.2 Product Portfolio
- 15.3.11 Visa Inc.
- 15.3.11.1 Company Overview
- 15.3.11.2 Product Portfolio
- 15.3.11.3 Financials
- 15.3.11.4 SWOT Analysis
- 15.3.1 Giesecke & Devrient GmbH
Product Code: SR112023A3514
List of Figures
- Figure 1: Global: Contactless Payment Market: Major Drivers and Challenges
- Figure 2: Global: Contactless Payment Market: Sales Value (in Billion US$), 2017-2022
- Figure 3: Global: Contactless Payment Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 4: Global: Contactless Payment Market: Breakup by Technology (in %), 2022
- Figure 5: Global: Contactless Payment Market: Breakup by Device (in %), 2022
- Figure 6: Global: Contactless Payment Market: Breakup by Solution (in %), 2022
- Figure 7: Global: Contactless Payment Market: Breakup by Application (in %), 2022
- Figure 8: Global: Contactless Payment Market: Breakup by Region (in %), 2022
- Figure 9: Global: Contactless Payment (Near Field Communication- NFC) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 10: Global: Contactless Payment (Near Field Communication- NFC) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 11: Global: Contactless Payment (Radio Frequency Identification- RFID) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 12: Global: Contactless Payment (Radio Frequency Identification- RFID) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 13: Global: Contactless Payment (Infrared- IR) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 14: Global: Contactless Payment (Infrared- IR) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 15: Global: Contactless Payment (Other Technologies) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 16: Global: Contactless Payment (Other Technologies) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 17: Global: Contactless Payment (Smartphones and Wearables) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 18: Global: Contactless Payment (Smartphones and Wearables) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 19: Global: Contactless Payment (Point-of-Sales Terminals) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 20: Global: Contactless Payment (Point-of-Sales Terminals) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 21: Global: Contactless Payment (Smart Cards) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 22: Global: Contactless Payment (Smart Cards) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 23: Global: Contactless Payment (Payment Terminal Solution) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 24: Global: Contactless Payment (Payment Terminal Solution) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 25: Global: Contactless Payment (Transaction Management) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 26: Global: Contactless Payment (Transaction Management) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 27: Global: Contactless Payment (Security and Fraud Management) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 28: Global: Contactless Payment (Security and Fraud Management) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 29: Global: Contactless Payment (Hosted Point-of-Sales) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 30: Global: Contactless Payment (Hosted Point-of-Sales) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 31: Global: Contactless Payment (Payment Analytics) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 32: Global: Contactless Payment (Payment Analytics) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 33: Global: Contactless Payment (BFSI) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 34: Global: Contactless Payment (BFSI) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 35: Global: Contactless Payment (Retail) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 36: Global: Contactless Payment (Retail) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 37: Global: Contactless Payment (Transportation) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 38: Global: Contactless Payment (Transportation) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 39: Global: Contactless Payment (Healthcare) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 40: Global: Contactless Payment (Healthcare) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 41: Global: Contactless Payment (Other Applications) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 42: Global: Contactless Payment (Other Applications) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 43: North America: Contactless Payment Market: Sales Value (in Million US$), 2017 & 2022
- Figure 44: North America: Contactless Payment Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 45: United States: Contactless Payment Market: Sales Value (in Million US$), 2017 & 2022
- Figure 46: United States: Contactless Payment Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 47: Canada: Contactless Payment Market: Sales Value (in Million US$), 2017 & 2022
- Figure 48: Canada: Contactless Payment Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 49: Asia-Pacific: Contactless Payment Market: Sales Value (in Million US$), 2017 & 2022
- Figure 50: Asia-Pacific: Contactless Payment Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 51: China: Contactless Payment Market: Sales Value (in Million US$), 2017 & 2022
- Figure 52: China: Contactless Payment Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 53: Japan: Contactless Payment Market: Sales Value (in Million US$), 2017 & 2022
- Figure 54: Japan: Contactless Payment Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 55: India: Contactless Payment Market: Sales Value (in Million US$), 2017 & 2022
- Figure 56: India: Contactless Payment Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 57: South Korea: Contactless Payment Market: Sales Value (in Million US$), 2017 & 2022
- Figure 58: South Korea: Contactless Payment Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 59: Australia: Contactless Payment Market: Sales Value (in Million US$), 2017 & 2022
- Figure 60: Australia: Contactless Payment Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 61: Indonesia: Contactless Payment Market: Sales Value (in Million US$), 2017 & 2022
- Figure 62: Indonesia: Contactless Payment Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 63: Others: Contactless Payment Market: Sales Value (in Million US$), 2017 & 2022
- Figure 64: Others: Contactless Payment Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 65: Europe: Contactless Payment Market: Sales Value (in Million US$), 2017 & 2022
- Figure 66: Europe: Contactless Payment Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 67: Germany: Contactless Payment Market: Sales Value (in Million US$), 2017 & 2022
- Figure 68: Germany: Contactless Payment Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 69: France: Contactless Payment Market: Sales Value (in Million US$), 2017 & 2022
- Figure 70: France: Contactless Payment Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 71: United Kingdom: Contactless Payment Market: Sales Value (in Million US$), 2017 & 2022
- Figure 72: United Kingdom: Contactless Payment Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 73: Italy: Contactless Payment Market: Sales Value (in Million US$), 2017 & 2022
- Figure 74: Italy: Contactless Payment Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 75: Spain: Contactless Payment Market: Sales Value (in Million US$), 2017 & 2022
- Figure 76: Spain: Contactless Payment Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 77: Russia: Contactless Payment Market: Sales Value (in Million US$), 2017 & 2022
- Figure 78: Russia: Contactless Payment Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 79: Others: Contactless Payment Market: Sales Value (in Million US$), 2017 & 2022
- Figure 80: Others: Contactless Payment Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 81: Latin America: Contactless Payment Market: Sales Value (in Million US$), 2017 & 2022
- Figure 82: Latin America: Contactless Payment Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 83: Brazil: Contactless Payment Market: Sales Value (in Million US$), 2017 & 2022
- Figure 84: Brazil: Contactless Payment Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 85: Mexico: Contactless Payment Market: Sales Value (in Million US$), 2017 & 2022
- Figure 86: Mexico: Contactless Payment Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 87: Others: Contactless Payment Market: Sales Value (in Million US$), 2017 & 2022
- Figure 88: Others: Contactless Payment Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 89: Middle East and Africa: Contactless Payment Market: Sales Value (in Million US$), 2017 & 2022
- Figure 90: Middle East and Africa: Contactless Payment Market: Breakup by Country (in %), 2022
- Figure 91: Middle East and Africa: Contactless Payment Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 92: Global: Contactless Payment Industry: SWOT Analysis
- Figure 93: Global: Contactless Payment Industry: Value Chain Analysis
- Figure 94: Global: Contactless Payment Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Contactless Payment Market: Key Industry Highlights, 2022 and 2028
- Table 2: Global: Contactless Payment Market Forecast: Breakup by Technology (in Million US$), 2023-2028
- Table 3: Global: Contactless Payment Market Forecast: Breakup by Device (in Million US$), 2023-2028
- Table 4: Global: Contactless Payment Market Forecast: Breakup by Solution (in Million US$), 2023-2028
- Table 5: Global: Contactless Payment Market Forecast: Breakup by Application (in Million US$), 2023-2028
- Table 6: Global: Contactless Payment Market Forecast: Breakup by Region (in Million US$), 2023-2028
- Table 7: Global: Contactless Payment Market: Competitive Structure
- Table 8: Global: Contactless Payment Market: Key Players
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