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Contactless Payment Market expected to reach $17.56 Billion by 2021

 



(MoneyNewsWire.Net, July 17, 2019 ) 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 Contactless Payment Market 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.

Browse in-depth TOC on "Contactless Payment Market”
69- Tables
48- Figures
146- Pages

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.

Request Report Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1313

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 influencing the growth of the contactless payment services market.

Mobile handsets payment mode is expected to be the most promising segments during the forecast period

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.

Request Sample Pages @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=1313

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.

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 influencing 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.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

For more Info

MnM Blog: https://mnmblog.org

Visit Our Website: https://www.marketsandmarkets.com

Content Source: https://www.marketsandmarkets.com/PressReleases/contactless-payments.asp

MarketsandMarkets™

Mr. Shelly Singh

1-888-600-6441

raviraj.tak@marketsandmarkets.com

Source: EmailWire.Com


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