Contactless Payment Transaction Market By Mode Of Payment (Wearable Devices, Contactless Mobile Payment, Contactless Card), By End-Use (Transport, Media & Entertainment, Hospitality, Healthcare, Retail, Others) - Growth, Future Prospects And Competitive Analysis, 2019 - 2027

The contactless payment transaction market worldwide is expected to grow with a CAGR of 43.7% during the forecast period from 2019 to 2027, starting from US$ 14.8 Bn in 2018. Rising adoption of cashless transaction and growing internet penetration will drive the contactless payment transaction market worldwide. Introduction of new technologies such as NFC or RFID for safe and secure payments are one of the key factors for the market growth. Increasing adoption of smart devices includes smart watches, tablets, smartphones and others is one of the important factor for the market growth. Therefore, we suppose that the market will show huge growth throughout the forecast period.

Retail Industry to Continue Leading the Market

The contactless payment transaction market by end-use was dominated by retail segment in 2018. The retail segment garnered around 1/3rd market share in the same year. Rising retail industry worldwide is one of the major factor for the dominance of the segment. The global retail industry to grow at a CAGR of nearly 5.5% in years to come. Need for safe, secure, swift and easy access payment in the industry is one of the major factor for the segment growth. Rising e-commerce industry worldwide will also boost the segment growth in years to come. Subsequently, we are expecting that the retail segment will continue its majority stake in the contact payment transaction market.

Asia Pacific to be the Fastest Growing Region

In 2018, the contactless payment transaction market was led by North America and Europe with combined share of around 68% of the total revenue worldwide. North America and Europe are dominant owing to the highest internet penetration and early technological adoption, especially in terms of digital payment. Growing adoption of smart devices in these regions is another factor for their dominance. On the other flip of the coin, Asia Pacific will show fastest growth owing to rising internet penetration, growing disposable income, and increased government investments for digitization. As a result, we suppose that the region will show fastest growth during the forecast period.

Some of the prominent players operating in the contactless payment transaction market Gemalto N.V., Group, Apple Inc., Giesecke & Devrient GmbH, Heartland Payment Systems, Inc., Ingenico Group, Inside Secure, On Track Innovations Ltd., Samsung Electronics Ltd., Verifone Systems, Inc. among others.

Historical & Forecast Period

This research report presents the analysis of each segment from 2017 to 2027 considering 2018 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segments calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

The contactless payment transaction market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of global contactless payment transaction market based on mode of payment, end-use and geography. Key segments covered in the report are as follows:

Key questions answered in this report

• What was the market size of contactless payment transaction in 2018 and forecast up to 2027?
• Which is the largest regional market for contactless payment transaction?
• What are the major trends followed in overall contactless payment transaction across different regions?
• Who are the key contactless payment transaction companies leading the market?
• What are the key strategies adopted by the leading contactless payment transaction companies in market?