slide 1: Contactless Payment Market Worth
17.56 Billion USD by 2021
May 20 2016 10:30 ET from MarketsandMarkets
PUNE India May 20 2016 /PRNewswire/ --
According to a new market research report "Contactless Payment Market by Solution
Payment Terminal Mobile Payment Transaction Data Management Security and
Fraud Management Service Professional Managed Payment Mode Mobile Handsets
Smart Cards Vertical - Global Forecast to 2021" published by MarketsandMarkets the
market size is expected to grow from USD 6.70 Billion in 2016 to USD 17.56 Billion by 2021
at a Compound Annual Growth Rate CAGR of 21.2 during the forecast period.
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slide 2: Browse 69 market data Tables with 48 Figures spread through 153 Pages and in-depth
TOC on "Contactless Payment Market"
http://www.marketsandmarkets.com/Market-Reports/contactless-payments-market-
1313.html
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The major drivers of this market include reduction in queuing and transaction time
increased convenience in making low value payments ease of technology integration with
existing cards increased average transaction value better customer insights improved
service delivery and increased revenue opportunity.
Multi-channel payment and value-added services segment is expected to be the most
promising segments during the forecast period
The Contactless Payment Market has been segmented into solutions services payment
mode and verticals. Mobile handsets as payment mode and healthcare segments are
projected to grow at a high growth rate hence will present good market opportunities
during the forecast period. Multi-channel payment and value-added services hold a major
share in the contactless payment services segment. The increasing integration of
contactless payment technologies in different industries is considered as the primary driver
inuencing the growth of the contactless payment services market.
Mobile handsets payment mode is expected to be the most promising segments during
the forecast period
slide 3: Contactless smart cards command the major share in the contactless payment modes.
However mobile handsets are fast picking up as the most preferred mode of payment in
the developing countries of the world as these are more secure and convenient for the
customers to make their payments.
Presently Europe contributes the maximum market share in the Contactless Payment
Market
Europe is expected to hold the largest market share and dominate the Contactless
Payment Market in 2016 due to technological advancement and increasing contactless
smart card roll-outs in this region. From 2016 to 2021 APAC is estimated to grow at the
highest rate during this forecast period and is becoming a new hotspot for contactless
payment vendors as a revenue generating region. Furthermore North America is expected
to be another revenue generating market with solution market as the leading revenue
generating segment. This growth is driven by increasing adoption of cloud-based
contactless technology solutions in the region.
The major vendors covered in the Contactless Payment Market for the study include
Gemalto N.V. Giesecke Devrient GmbH Ingenico Group VeriFone Systems Inc. Wirecard
AG Heartland Payment Systems Inc. INSIDE Secure OTI Oberthur Technologies SA and
Proxama PLC.
Ask for Sample Pages http://www.marketsandmarkets.com/requestsample.aspid1313
slide 4: MarketsandMarkets segments the Contactless Payment Market on the basis of solutions
services payment mode verticals and region. The scope of the report covers detailed
information regarding the major factors inuencing the growth of the Contactless
Payment Market such as drivers restraints challenges and opportunities. A detailed
analysis of the key industry players has been done to provide insights into their business
overview products and services key strategies new product launches mergers
acquisitions partnerships agreements collaborations and recent developments associated
with the security analytics market.
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