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The Contactless Payment Market Size was valued at USD 20.21 Billion in 2023 and is expected to reach USD 440 Billion by 2032 and grow at a CAGR of 41.31% over the forecast period 2024-2032.
The contactless payment market has undergone a significant transformation in recent years, spurred by technological advancements, evolving consumer preferences, and the global pandemic. This payment method, characterized by its convenience and speed, has gained traction worldwide, changing how consumers and businesses handle transactions.
The forecast indicates a broader trend toward digital payments, driven by an increase in smartphone usage and improvements in payment technology. According to Mastercard, 93% of consumers worldwide expressed a willingness to adopt emerging payment methods, with 83% in Latin America specifically showing interest in contactless options. The pandemic accelerated this shift, as contactless transactions saw a significant uptick; for instance, Mastercard reported over 1 billion additional contactless transactions globally between Q1 2020 and Q1 2021.
Demographic Insights
Millennials and Gen Z have been pivotal in the adoption of contactless payments. By 2029, these two generations are expected to constitute 72% of the global workforce, wielding considerable purchasing power. Gen Z is anticipated to see their income increase fivefold, reaching USD 33 trillion by 2030. Notably, 65% of young millennials and 57% of Gen Z utilize digital wallets such as Apple Pay and Google Pay. This trend highlights a shift away from traditional payment methods, with younger consumers showing a strong preference for the speed and convenience offered by contactless options.
The COVID-19 pandemic has played a significant role in accelerating the adoption of contactless payments. Consumers sought hygienic and safe transaction methods, leading to increased use of tap-and-pay technologies. By 2021, 100 countries reported a 50% increase in contactless transactions. Countries like China have seen innovative trends like live commerce and livestream shopping, with 67% of Chinese consumers participating in such activities, further integrating payment systems into digital commerce.
Security and Fraud Concerns
Despite the rapid adoption of contactless payments, concerns regarding security and fraud have emerged. The growth in contactless transactions has drawn the attention of fraudsters, prompting businesses to invest in enhanced security measures such as encryption and tokenization. FICO reported a notable increase in awareness of contactless payment fraud, driving companies to innovate with fraud prevention tools. Consumers prioritize security, with 36% in the UAE indicating it as a crucial factor when choosing payment methods.
Innovations and Future Trends
The future of contactless payments is likely to be shaped by continuous innovation. Technologies such as biometric authentication and the integration of cryptocurrencies are gaining traction. In Latin America, 37% of consumers have expressed interest in using cryptocurrencies for transactions. Additionally, the adoption of "buy now, pay later" (BNPL) options is on the rise, particularly among younger consumers. In the U.S., 75% of BNPL users are millennials or Gen Z, reflecting their desire for flexible payment solutions.
As cash usage declines, businesses are encouraged to adapt their payment systems to accommodate evolving consumer demands. A significant 71% of Latin Americans expect to use cash less frequently, which highlights the need for retailers to offer diverse payment options, including digital wallets and contactless payments.
KEY DRIVERS:
With the growing trend towards cashless transactions, digital payments have become more prevalent, boosting the demand for contactless payment methods.
The shift towards a cashless economy has been a major catalyst for the growth of digital payments, driving the adoption of contactless payment methods worldwide. As consumers increasingly embrace digital platforms for convenience, speed, and security, the reliance on physical cash has diminished significantly. This trend is largely driven by advancements in mobile technology, the proliferation of smartphones, and the development of secure digital wallets such as Apple Pay, Google Pay, and Samsung Pay. Contactless payments allow consumers to make quick transactions using their smartphones, smartwatches, or contactless-enabled cards, streamlining the payment process and reducing the need for cash handling.
Additionally, the growth of e-commerce has played a key role in boosting digital payment adoption. Online shopping platforms, in particular, have integrated contactless payment options to offer seamless and frictionless purchasing experiences, further encouraging consumers to transition away from traditional payment methods. Businesses, too, have recognized the operational efficiency and customer satisfaction benefits of adopting contactless payment systems, as they speed up checkout processes and enhance customer convenience. In this digital-first environment, the rising preference for contactless transactions reflects a broader societal shift towards efficient, touch-free financial solutions, accelerating the global move towards a more cashless future.
Contactless payments provide a fast and hassle-free way to complete transactions, reducing waiting times for consumers and enhancing user experience.
RESTRAIN:
Fraud, data breaches, and issues with NFC (near-field communication) security can hinder adoption.
Despite advancements in contactless payment technology, security concerns remain a significant barrier to widespread adoption. Consumers are apprehensive about the potential for fraud, data breaches, and the vulnerability of near-field communication (NFC) technology, which is at the core of contactless payments. According to a 2023 survey, 43% of consumers cited security concerns as a primary reason for avoiding contactless payments. Fraudsters can exploit NFC’s radio frequency, leading to unauthorized access to payment information if proper encryption is not in place. This concern is further amplified by instances of “skimming,” where criminals use devices to intercept payment data during transactions.
Although contactless payment providers emphasize secure features such as tokenization, encryption, and biometric authentication, high-profile data breaches in the financial sector contribute to lingering mistrust. For instance, Research found that in 2023, global losses from payment fraud in e-commerce, including contactless fraud, reached USD 42 billion. In regions where digital literacy is lower, these security fears are even more pronounced, slowing down market adoption.
BY TYPE
Smartphone-based payments have established themselves as the leading segment, driven by the proliferation of mobile wallets (e.g., Apple Pay, Google Pay) and the growing consumer preference for digital transactions.
The increasing smartphone penetration (over 4.3 billion users globally) facilitates higher adoption rates among consumers, especially younger demographics who prioritize convenience and speed in transactions. Innovations in mobile payment technology, including biometric authentication and improved security features, have further boosted consumer confidence in using smartphones for payments.
Card-based payments still hold a significant share, particularly among older demographics and in regions where card usage is prevalent. Many consumers remain accustomed to traditional payment methods. Although card payments offer a sense of familiarity, they often face limitations such as transaction caps on contactless payments, which can hinder larger purchases. Many merchants continue to invest in card-based payment terminals, contributing to the segment’s resilience despite the rise of mobile payments.
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BY APPLICATION
The contactless payment market demonstrates significant segmentation, with retail maintaining its dominance, accounting for 52.63% in 2023. This growth is driven by the increasing adoption of contactless payment methods in brick-and-mortar stores and online retail, reflecting consumer preferences for convenience and speed in transactions. Retailers are also investing in seamless checkout experiences to enhance customer satisfaction.
In contrast, the hospitality sector is the fastest-growing segment, fueled by the rising demand for touchless payment options in hotels, restaurants, and other service-oriented businesses, which prioritize customer safety and convenience. As consumers seek efficient and hygienic payment solutions, the hospitality industry is rapidly adopting contactless technology, positioning itself as a key player in the evolving payment landscape.
In the contactless payment market, North America currently holds the dominant share, accounting for 38.72% in 2023. This leadership is driven by advanced infrastructure, widespread adoption of mobile payment technologies, and strong consumer preferences for convenience and speed in transactions. In 2024, 47.8% of American adults make no cash purchases weekly, and 69% used cash for few or no purchases over the past year (2023). The cashless consumer base is projected to grow by 13.1% annually. Additionally, 63.9% of Americans expect a cashless future, with 44.3% believing it is very likely. Globally, 85% of point-of-sale transactions are cashless, expected to reach 90% by 2028. Major players in the region are continuously investing in innovations to enhance user experience, further solidifying North America's position.
The Asia-Pacific region is the fastest-growing market fuelled by rapid digitalization, increasing smartphone penetration, and government initiatives promoting cashless transactions across countries like China and India. In 2024, the Asia-Pacific region accounts for 52% of global paperless transactions, indicating a significant lead in digital payment adoption. Additionally, mobile payments in Asia-Pacific are expected to increase by 17% annually, showcasing the rapid transition to digital payment methods. The region’s diverse consumer base and a surge in e-commerce are driving demand for contactless payments, positioning Asia-Pacific as a key player in the future landscape of contactless transactions.
Some of the major key vendors in the Contactless Payment Market are:
PayPal Holdings Inc.
Thales
MasterCard
Amazon.com, Inc.
Alibaba.com.
PayU
Visa Inc.
Apple Inc.
Giesecke & Devrient GmbH
American Express Company
Key Market Players
Gemalto (Identity and Payment Solutions)
Giesecke+Devrient (Smart Card Solutions)
Indemia (Payment and Digital Security Solutions)
Castles (Payment Terminals)
Paycore (Contactless Payment Solutions)
Sumup (Mobile Point of Sale Solutions)
Bitel (Payment Processing Solutions)
CPI Card Group (Payment Cards and Solutions)
On Track Innovations (NFC and Payment Solutions)
Ingenico (Payment Terminals and Solutions)
Mobeewave (Mobile Payment Technology)
Valitor (Payment Solutions and Services)
Alcineo (Smart Payment Devices)
Pax Global Technology (Payment Terminals)
Infineon (Security Controllers for Payments)
Setomatic Systems (Cashless Payment Systems)
Identiv (Identity and Payment Solutions)
Recent Trends
In 2024, Amnex Infotechnologies and Mastercard announced a strategic partnership to create payment acceptance solutions for the urban mobility sector, enhancing the efficiency and convenience of transit systems. This collaboration signifies their shared commitment to innovate transit solutions across 20 cities in India, beginning with two pilot projects, and extending to the Middle East and other regions.
In September 2024, NETSTARS has teamed up with ACI Worldwide to advance the international development of cashless payments in Japan. Together, they will provide a comprehensive payment acceptance solution for payment service providers and merchant acquirers, aiming to establish a seamless and secure ecosystem for both domestic and cross-border payment processing.
In April 2024, Mastercard has launched a new mobile virtual card app that allows users to easily integrate virtual commercial cards into digital wallets. This innovative application is designed to provide financial institutions with greater flexibility in delivering secure and sustainable contactless payment solutions, which are increasingly in demand from businesses.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 43.57 Billion |
| Market Size by 2032 | US$ 180.11 Billion |
| CAGR | CAGR of 16.86% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | •By Type (Smartphone Based Payments, Card Based Payments) •By Application (Retail, Transportation, Healthcare, Hospitality Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe [Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | Gemalto, Geisecke+Devrient, Indemia, Castles, Paycore, Sumup, Bitel, CPI Card Group, ON Track Innovations, Ingenico, Mobeewave, Valitor, Alcineo, Pax Global Technology, Infineon, Setomatic Systems, Identiv |
| Key Drivers | • With the growing trend towards cashless transactions, digital payments have become more prevalent, boosting the demand for contactless payment methods. |
| Restraints | • Fraud, data breaches, and issues with NFC (near-field communication) security can hinder adoption. |
Ans:- The Contactless Payment market will grow at a CAGR of 41.31% over the forecast period 2024-2032.
Ans:- Increased smartphone penetration and demand for mobile and wearable payment devices and Biometric contactless smart cards are becoming increasingly popular.
Ans:- The retail sector dominated the market and accounted for the largest proportion of worldwide revenue.
Ans:- The major kay players are Gemalto, Giesecke+Devrient, Ingenico, InsideSecure, Oberthur Technologies S.A., On Track Innovations, PAX Technology, Inc., Proxama Plc, Verifone, Wirecard.
Ans:- The study includes a comprehensive analysis of worldwide Contactless Payment market trends, as well as present and future market forecasts.impact analysis for the projected period. Porter's five forces analysis aids in the study of buyer and supplier potential as well as the competitive landscape.
Table of Content
1. Introduction
1.1 Market Definition
1.2 Scope (Inclusion and Exclusions)
1.3 Research Assumptions
2. Executive Summary
2.1 Market Overview
2.2 Regional Synopsis
2.3 Competitive Summary
3. Research Methodology
3.1 Top-Down Approach
3.2 Bottom-up Approach
3.3. Data Validation
3.4 Primary Interviews
4. Market Dynamics Impact Analysis
4.1 Market Driving Factors Analysis
4.1.2 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2 PESTLE Analysis
4.3 Porter’s Five Forces Model
5. Statistical Insights and Trends Reporting
5.1 Adoption Rates of Emerging Technologies
5.2 Network Infrastructure Expansion, by Region
5.3 Cybersecurity Incidents, by Region (2020-2023)
5.4 Services Usage, by Region
6. Competitive Landscape
6.1 List of Major Companies, By Region
6.2 Market Share Analysis, By Region
6.3 Product Benchmarking
6.3.1 Product specifications and features
6.3.2 Pricing
6.4 Strategic Initiatives
6.4.1 Marketing and promotional activities
6.4.2 Distribution and supply chain strategies
6.4.3 Expansion plans and new product launches
6.4.4 Strategic partnerships and collaborations
6.5 Technological Advancements
6.6 Market Positioning and Branding
7. Contactless Payment Market Segmentation, by Type
7.1 Chapter Overview
7.2 Smartphone Based Payments
7.2.1 Smartphone Based Payments Market Trends Analysis (2020-2032)
7.2.2 Smartphone Based Payments Market Size Estimates and Forecasts to 2032 (USD Billion)
7.3 Card Based Payments
7.3.1 Card Based Payments Market Trends Analysis (2020-2032)
7.3.2 Card Based Payments Market Size Estimates and Forecasts to 2032 (USD Billion)
7.3.3 Credit Cards
7.3.3.1 Credit Cards Market Trends Analysis (2020-2032)
7.3.3.2 Credit Cards Market Size Estimates and Forecasts to 2032 (USD Billion)
7.3.4 Debit Cards
7.3.4.1 Debit Cards Market Trends Analysis (2020-2032)
7.3.4.2 Debit Cards Market Size Estimates and Forecasts to 2032 (USD Billion)
7.3.5 Others
7.3.5.1 Others Market Trends Analysis (2020-2032)
7.3.5.2 Others Market Size Estimates and Forecasts to 2032 (USD Billion)
8. Contactless Payment Market Segmentation, by Application
8.1 Chapter Overview
8.2 Retail
8.2.1 Retail Market Trends Analysis (2020-2032)
8.2.2 Retail Market Size Estimates and Forecasts to 2032 (USD Billion)
8.2.3 Consumer Electronics
8.3.3.1 Consumer Electronics Market Trends Analysis (2020-2032)
8.3.3.2 Consumer Electronics Market Size Estimates and Forecasts to 2032 (USD Billion)
8.2.4 Fashion & Garments
8.3.4.1 Fashion & Garments Market Trends Analysis (2020-2032)
8.3.4.2 Fashion & Garments Market Size Estimates and Forecasts to 2032 (USD Billion)
8.2.5 Others
8.3.5.1 Others Market Trends Analysis (2020-2032)
8.3.5.2 Others Market Size Estimates and Forecasts to 2032 (USD Billion)
8.3 Transportation
8.3.1 Transportation Market Trends Analysis (2020-2032)
8.3.2 Transportation Market Size Estimates and Forecasts to 2032 (USD Billion)
8.4 Healthcare
8.4.1 Healthcare Market Trends Analysis (2020-2032)
8.4.2 Healthcare Market Size Estimates and Forecasts to 2032 (USD Billion)
8.5 Hospitality
8.5.1 Hospitality Market Trends Analysis (2020-2032)
8.5.2 Hospitality Market Size Estimates and Forecasts to 2032 (USD Billion)
8.6 Others
8.6.1 Others Market Trends Analysis (2020-2032)
8.6.2 Others Market Size Estimates and Forecasts to 2032 (USD Billion)
9. Regional Analysis
9.1 Chapter Overview
9.2 North America
9.2.1 Trends Analysis
9.2.2 North America Contactless Payment Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
9.2.3 North America Contactless Payment Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
9.2.4 North America Contactless Payment Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.2.5 USA
9.2.5.1 USA Contactless Payment Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
9.2.5.2 USA Contactless Payment Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.2.6 Canada
9.2.6.1 Canada Contactless Payment Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
9.2.6.2 Canada Contactless Payment Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.2.7 Mexico
9.2.7.1 Mexico Contactless Payment Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
9.2.7.2 Mexico Contactless Payment Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.3 Europe
9.3.1 Eastern Europe
9.3.1.1 Trends Analysis
9.3.1.2 Eastern Europe Contactless Payment Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
9.3.1.3 Eastern Europe Contactless Payment Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
9.3.1.4 Eastern Europe Contactless Payment Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.3.1.5 Poland
9.3.1.5.1 Poland Contactless Payment Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
9.3.1.5.2 Poland Contactless Payment Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.3.1.6 Romania
9.3.1.6.1 Romania Contactless Payment Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
9.3.1.6.2 Romania Contactless Payment Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.3.1.7 Hungary
9.3.1.7.1 Hungary Contactless Payment Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
9.3.1.7.2 Hungary Contactless Payment Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.3.1.8 Turkey
9.3.1.8.1 Turkey Contactless Payment Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
9.3.1.8.2 Turkey Contactless Payment Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.3.1.9 Rest of Eastern Europe
9.3.1.9.1 Rest of Eastern Europe Contactless Payment Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
9.3.1.9.2 Rest of Eastern Europe Contactless Payment Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.3.2 Western Europe
9.3.2.1 Trends Analysis
9.3.2.2 Western Europe Contactless Payment Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
9.3.2.3 Western Europe Contactless Payment Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
9.3.2.4 Western Europe Contactless Payment Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.3.2.5 Germany
9.3.2.5.1 Germany Contactless Payment Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
9.3.2.5.2 Germany Contactless Payment Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.3.2.6 France
9.3.2.6.1 France Contactless Payment Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
9.3.2.6.2 France Contactless Payment Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.3.2.7 UK
9.3.2.7.1 UK Contactless Payment Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
9.3.2.7.2 UK Contactless Payment Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.3.2.8 Italy
9.3.2.8.1 Italy Contactless Payment Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
9.3.2.8.2 Italy Contactless Payment Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.3.2.9 Spain
9.3.2.9.1 Spain Contactless Payment Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
9.3.2.9.2 Spain Contactless Payment Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.3.2.10 Netherlands
9.3.2.10.1 Netherlands Contactless Payment Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
9.3.2.10.2 Netherlands Contactless Payment Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.3.2.11 Switzerland
9.3.2.11.1 Switzerland Contactless Payment Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
9.3.2.11.2 Switzerland Contactless Payment Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.3.2.12 Austria
9.3.2.12.1 Austria Contactless Payment Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
9.3.2.12.2 Austria Contactless Payment Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.3.2.13 Rest of Western Europe
9.3.2.13.1 Rest of Western Europe Contactless Payment Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
9.3.2.13.2 Rest of Western Europe Contactless Payment Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.4 Asia Pacific
9.4.1 Trends Analysis
9.4.2 Asia Pacific Contactless Payment Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
9.4.3 Asia Pacific Contactless Payment Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
9.4.4 Asia Pacific Contactless Payment Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.4.5 China
9.4.5.1 China Contactless Payment Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
9.4.5.2 China Contactless Payment Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.4.6 India
9.4.5.1 India Contactless Payment Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
9.4.5.2 India Contactless Payment Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.4.5 Japan
9.4.5.1 Japan Contactless Payment Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
9.4.5.2 Japan Contactless Payment Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.4.6 South Korea
9.4.6.1 South Korea Contactless Payment Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
9.4.6.2 South Korea Contactless Payment Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.4.7 Vietnam
9.4.7.1 Vietnam Contactless Payment Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
9.2.7.2 Vietnam Contactless Payment Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.4.8 Singapore
9.4.8.1 Singapore Contactless Payment Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
9.4.8.2 Singapore Contactless Payment Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.4.9 Australia
9.4.9.1 Australia Contactless Payment Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
9.4.9.2 Australia Contactless Payment Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.4.10 Rest of Asia Pacific
9.4.10.1 Rest of Asia Pacific Contactless Payment Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
9.4.10.2 Rest of Asia Pacific Contactless Payment Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.5 Middle East and Africa
9.5.1 Middle East
9.5.1.1 Trends Analysis
9.5.1.2 Middle East Contactless Payment Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
9.5.1.3 Middle East Contactless Payment Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
9.5.1.4 Middle East Contactless Payment Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.5.1.5 UAE
9.5.1.5.1 UAE Contactless Payment Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
9.5.1.5.2 UAE Contactless Payment Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.5.1.6 Egypt
9.5.1.6.1 Egypt Contactless Payment Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
9.5.1.6.2 Egypt Contactless Payment Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.5.1.7 Saudi Arabia
9.5.1.7.1 Saudi Arabia Contactless Payment Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
9.5.1.7.2 Saudi Arabia Contactless Payment Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.5.1.8 Qatar
9.5.1.8.1 Qatar Contactless Payment Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
9.5.1.8.2 Qatar Contactless Payment Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.5.1.9 Rest of Middle East
9.5.1.9.1 Rest of Middle East Contactless Payment Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
9.5.1.9.2 Rest of Middle East Contactless Payment Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.5.2 Africa
9.5.2.1 Trends Analysis
9.5.2.2 Africa Contactless Payment Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
9.5.2.3 Africa Contactless Payment Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
9.5.2.4 Africa Contactless Payment Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.5.2.5 South Africa
9.5.2.5.1 South Africa Contactless Payment Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
9.5.2.5.2 South Africa Contactless Payment Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.5.2.6 Nigeria
9.5.2.6.1 Nigeria Contactless Payment Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
9.5.2.6.2 Nigeria Contactless Payment Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.5.2.7 Rest of Africa
9.5.2.7.1 Rest of Africa Contactless Payment Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
9.5.2.7.2 Rest of Africa Contactless Payment Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.6 Latin America
9.6.1 Trends Analysis
9.6.2 Latin America Contactless Payment Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
9.6.3 Latin America Contactless Payment Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
9.6.4 Latin America Contactless Payment Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.6.5 Brazil
9.6.5.1 Brazil Contactless Payment Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
9.6.5.2 Brazil Contactless Payment Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.6.6 Argentina
9.6.6.1 Argentina Contactless Payment Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
9.6.6.2 Argentina Contactless Payment Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.6.7 Colombia
9.6.7.1 Colombia Contactless Payment Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
9.6.7.2 Colombia Contactless Payment Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
9.6.8 Rest of Latin America
9.6.8.1 Rest of Latin America Contactless Payment Market Estimates and Forecasts, by Type (2020-2032) (USD Billion)
9.6.8.2 Rest of Latin America Contactless Payment Market Estimates and Forecasts, by Application (2020-2032) (USD Billion)
10. Company Profiles
10.1 Gemalto
10.1.1 Company Overview
10.1.2 Financial
10.1.3 Products/ Services Offered
110.1.4 SWOT Analysis
10.2 Indemia
10.2.1 Company Overview
10.2.2 Financial
10.2.3 Products/ Services Offered
10.2.4 SWOT Analysis
10.3 Castles
10.3.1 Company Overview
10.3.2 Financial
10.3.3 Products/ Services Offered
10.3.4 SWOT Analysis
10.4 Paycore
10.4.1 Company Overview
10.4.2 Financial
10.4.3 Products/ Services Offered
10.4.4 SWOT Analysis
10.5 Sumup
10.5.1 Company Overview
10.5.2 Financial
10.5.3 Products/ Services Offered
10.5.4 SWOT Analysis
10.6 Bitel
10.6.1 Company Overview
10.6.2 Financial
10.6.3 Products/ Services Offered
10.6.4 SWOT Analysis
10.7 CPI Card Group
10.7.1 Company Overview
10.7.2 Financial
10.7.3 Products/ Services Offered
10.7.4 SWOT Analysis
10.8 ON Track Innovations
10.8.1 Company Overview
10.8.2 Financial
10.8.3 Products/ Services Offered
10.8.4 SWOT Analysis
10.9 Ingenico
10.9.1 Company Overview
10.9.2 Financial
10.9.3 Products/ Services Offered
10.9.4 SWOT Analysis
10.10 Mobeewave
10.9.1 Company Overview
10.9.2 Financial
10.9.3 Products/ Services Offered
10.9.4 SWOT Analysis
11. Use Cases and Best Practices
12. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
MARKET SEGMENTATION
By Type
Smartphone Based Payments
Card Based Payments
Credit Cards
Debit Cards
Others
By Application
Retail
Consumer Electronics
Fashion & Garments
Others
Transportation
Healthcare
Hospitality
Others
Request for Segment Customization as per your Business Requirement: Segment Customization Request
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
Request for Country Level Research Report: Country Level Customization Request
Available Customization
With the given market data, SNS Insider offers customization as per the company’s specific needs. The following customization options are available for the report:
Product Analysis
Criss-Cross segment analysis (e.g. Product X Application)
Product Matrix which gives a detailed comparison of product portfolio of each company
Geographic Analysis
Additional countries in any of the regions
Company Information
Detailed analysis and profiling of additional market players (Up to five)
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The Intellectual Property Management Software Market Size was valued at USD 9.15 billion in 2023 and is expected to reach USD 29.66 billion in 2032 with a growing CAGR of 13.99% from 2024 to 2032.
Human Resource (HR) Technology Market size was valued at USD 34.4 billion in 2023 and is expected to grow to USD 73.7 billion by 2031 and grow at a CAGR of 10.0% over the forecast period of 2024-2031.
The Procurement and Supply Chain in Global Capability Centers Market Size was valued at USD 45.99 Billion in 2023 and is expected to reach USD 208.13 Billion by 2032 and grow at a CAGR of 16.63% over the forecast period 2024-2032.
The Data Analytics Outsourcing Market size was valued at USD 12.11 Billion in 2023 and is expected to grow to USD 137.6 Billion by 2031 and grow at a CAGR of 35.5% over the forecast period of 2024-2031.
A2P Messaging Market Size was valued at USD 70.01 Bn in 2023 and is expected to reach USD 106.12 Bn by 2032, while growing at a CAGR of 4.73% over 2024-2032.
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