Contactless payments are transactions achieved rapidly without compromising on security & privacy. These transactions are fast-paced as they do not essential any pin or password to method the payments.
Contactless payments offer improved collaboration in company environments to assurance rapid & secure contacts. In addition, these payments proposal security of the card details, which are stored in mobile phones in the form of a safe part. This safe element could be in the form of subscriber individuality module (SIM), secured chips, or harmless digital card. Also, the hardware encryption can be only used in familiarity to the point of deal that makes contactless payments one of the safest payments.
The Contactless Expenses market size is expected to grow Compound Annual Growth Rate (CAGR) of +20% during the forecast period.
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A new report as an Contactless Payments market that includes a comprehensive analysis of the global market. This includes investigating past progress, ongoing market scenarios, and future prospects. Accurate data on the products, strategies and market share of leading companies in this particular market are mentioned. This report provides a 360-degree overview of the global market’s competitive landscape. The report further predicts the size and valuation of the global market during the forecast period. The report also presents thorough qualitative and quantitative data that affect the expected impact of these factors on the market’s future growth prospects.
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.
Key players in the Contactless Payments market have been identified by region and the emerging products, distribution channels and regions are understood through in-depth discussions. Also, the average revenue of these companies, broken down by region, is used to reach the total market size. This generic market measurement is used as part of a top-down process to assess the size of other individual markets through a secondary source catalog, a database, and a percentage of basic research
Contactless Payments Market Key Segments:
- By Device Type
- Mobile Handsets
Point of Sale Terminals
- NFC Chips
- Smart Cards
By Industry Vertical
- IT & Telecom
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The global contactless payments market was led by the mobile devices segment in 2019, and is expected to continue this trend during the forecast period. However, the smart cards section is estimated to witness the highest growth, owing to rise in adoption of these cards due to benefits such as convenience and speed.
The market is escalating rapidly, owing to rising digitization and continuous advancements in the field of cognitive science and computer science that are shaping the way for a new technology. Be that as it may, the cost acquired in making the products is more and the unmistakable degree of profitability is low, in this way representing a major restraining factor for the market’s development.
- This study includes the analytical depiction of the global contactless payments market along with current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed impact analyses.
- The current market is quantitatively analyzed from 2019 to 2026 to highlight the financial competency of the industry.
- Porters five forces analysis illustrates the potency of buyers & suppliers in the global contactless payments industry.
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Table of Contents:
Global Contactless Payments Market Research Report
Chapter 1 Contactless Payments Market Overview
Chapter 2 Global Economic Impact on Industry
Chapter 3 Global Market Competition by Manufacturers
Chapter 4 Global Production, Revenue (Value) by Region
Chapter 5 Global Supply (Production), Consumption, Export, Import by Regions
Chapter 6 Global Production, Revenue (Value), Price Trend by Type
Chapter 7 Global Market Analysis by Application
Chapter 8 Manufacturing Cost Analysis
…….CONTINUED FOR TOC