Contactless Payment Market Analysis, Size, Current Scenario and Future Prospects

The contactless payments market size is expected to reach USD 5,424 billion by 2028, growing at a CAGR of 20% from 2022 to 2028. Contactless payment is a secure method for consumers to purchase products or services, with the use of devices such as smart cards, wearable devices, key fobs, smartphones and others. Mainly, contactless payment uses radio frequency identification (RFID) and near field communication (NFC) technologies in order to facilitate contactless transactions in the contactless payment industry. In addition, the integrated chip and antenna placed in the transaction devices allow consumers to wave or type their smart cards, their key fob or their portable device on a reader at the point of sale (POS) terminal.

Company Profile

• Giesecke+Devrient 
• Ingenico 
• InsideSecure
• Oberthur Technologies S.A. 
• On Track Innovations
• PAX Technology, Inc.
• Proxama Plc 
• Verifone 
• Wirecard   

Market Segmentation

By Device Type

• Smartphones & Wearables
• Smart Cards
• Point-of-sale (POS) Terminals

By Application

• Food & Groceries
• Pharmacy & Drug Stores
• Restaurants & Bars
• Consumer Electronics
• Media & Entertainment 

Scope of the Report

The research study analyzes the Contactless Payment Market industry from 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions, considering multiple aspects some of which are listed below as:

Recent Developments
o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment

Geographic Coverage
o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume

Key Questions Answered by Contactless Payment Market Report

1. What was the Contactless Payment Market size in 2020 and 2021; what are the estimated growth trends and market forecast (2022-2028).
2. What will be the CAGR of Contactless Payment Market during the forecast period (2022-2028)?
3. Which segments (product type/applications/end-user) were most attractive for investments in 2022? How these segments are expected to grow during the forecast period (2022-2028).
4. Which manufacturer/vendor/players in the Contactless Payment Market was the market leader in 2021?
5. Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.

Key Benefits of Buying the Contactless Payment Market Report:

• Comprehensive analysis of the changing competitive landscape.
• Assists in decision making processes for the businesses along with detailed strategic planning methodologies.
• The report offers an 8-year forecast and assessment of the Contactless Payment
• Helps in understanding the key product segments and their estimated growth rate.
• In-depth analysis of market drivers, restraints, trends, and opportunities.
• Comprehensive regional analysis of the Contactless Payment
• Extensive profiling of the key stakeholders of the business sphere.
• Detailed analysis of the factors influencing the growth of the Contactless Payment Market.