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Contactless Payment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Market Overview:

The global contactless payment market reached a value of US$ 10.50 Billion in 2020 and is expected to reach US$ 20.7 Billion by 2026. Contactless payment refers to a payment alternative that enables the users to make digital payments without requiring physical contact between the parties. It involves the use of credit, debit and smart cards, key fobs and smartphone-based online payment applications. They are embedded with an integrated circuit (IC) chip and antenna and operate through radio-frequency identification (RFID) or near field communication (NFC) technologies for making secured payments. In comparison to the contact-based payment alternatives, they are faster, more secure, convenient to use and aid in improving the overall consumer experience. As a result, they are widely used across industries, such as retail, healthcare, energy, hospitality, transportation and banking, financial services and insurance.

Global Contactless Payment Market Trends and Drivers:

Rapid digitization of the banking, financial services and insurance (BFSI) industry across the globe represents one of the key factors driving the growth of the market. Furthermore, increasing consumer awareness regarding the convenience offered by contactless payment tools and the rising demand for minimized queue time and faster checkouts at banks, are also driving the market growth. In line with this, the onset of coronavirus (Covid-19) pandemic has also enhanced the demand for contactless payment solutions that require minimal physical interactions, is also contributing to the market growth. Additionally, various technological advancements, such as the development of biometric-based contactless smart cards and novel RFID tags, are acting as other growth-inducing factors. These technologies are widely adopted by small merchants and service providers to conduct cashless transactions by using their smartphones. Other factors, including the widespread adoption of blockchain and 5G technologies, along with significant improvements in the networking infrastructure, especially in the developing economies, are anticipated to drive the market further. Looking forward, IMARC Group expects the global contactless payment market to grow at a CAGR of around 18% during 2021-2026.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global contactless payment market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, technology, device, solution and application.

Breakup by Technology:

  • Near Field Communication (NFC)
  • Radio Frequency Identification (RFID)
  • Infrared (IR)
  • Others
     

Breakup by Device:

  • Smartphones and Wearables
  • Point-of-Sales Terminals
  • Smart Cards
     

Breakup by Solution:

  • Payment Terminal Solution
  • Transaction Management
  • Security and Fraud Management
  • Hosted Point-of-Sales
  • Payment Analytics
     

Breakup by Application:

  • BFSI
  • Retail
  • Transportation
  • Healthcare
  • Others
     

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Giesecke & Devrient GmbH, Heartland Payment Systems (Global Payments Inc.), IDEMIA (Advent International), Ingenico Group (Worldline S.A.), On Track Innovations Ltd., Pax Technology, Setomatic Systems, Thales Group, Valitor, Verifone Systems Inc. (Francisco Partners) and Visa Inc.

Key Questions Answered in This Report:

  • How has the global contactless payment market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global contactless payment market?
  • What are the key regional markets?
  • What is the breakup of the market based on the technology?
  • What is the breakup of the market based on the device?
  • What is the breakup of the market based on the solution?
  • What is the breakup of the market based on the application?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global contactless payment market and who are the key players?
  • What is the degree of competition in the industry?

1    Preface
2    Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Key Industry Trends
5    Global Contactless Payment Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Technology
    6.1    Near Field Communication (NFC)
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Radio Frequency Identification (RFID)
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    Infrared (IR)
        6.3.1 Market Trends
        6.3.2 Market Forecast
    6.4    Others
        6.4.1 Market Trends
        6.4.2 Market Forecast
7    Market Breakup by Device
    7.1    Smartphones and Wearables
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Point-of-Sales Terminals
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Smart Cards
        7.3.1 Market Trends
        7.3.2 Market Forecast
8    Market Breakup by Solution
    8.1    Payment Terminal Solution
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Transaction Management
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    Security and Fraud Management
        8.3.1 Market Trends
        8.3.2 Market Forecast
    8.4    Hosted Point-of-Sales
        8.4.1 Market Trends
        8.4.2 Market Forecast
    8.5    Payment Analytics
        8.5.1 Market Trends
        8.5.2 Market Forecast
9    Market Breakup by Application
    9.1    BFSI
        9.1.1 Market Trends
        9.1.2 Market Forecast
    9.2    Retail
        9.2.1 Market Trends
        9.2.2 Market Forecast
    9.3    Transportation
        9.3.1 Market Trends
        9.3.2 Market Forecast
    9.4    Healthcare
        9.4.1 Market Trends
        9.4.2 Market Forecast
    9.5    Others
        9.5.1 Market Trends
        9.5.2 Market Forecast
10    Market Breakup by Region
    10.1    North America
        10.1.1 United States
           10.1.1.1 Market Trends
           10.1.1.2 Market Forecast
        10.1.2 Canada
           10.1.2.1 Market Trends
           10.1.2.2 Market Forecast
    10.2    Asia-Pacific
        10.2.1 China
           10.2.1.1 Market Trends
           10.2.1.2 Market Forecast
        10.2.2 Japan
           10.2.2.1 Market Trends
           10.2.2.2 Market Forecast
        10.2.3 India
           10.2.3.1 Market Trends
           10.2.3.2 Market Forecast
        10.2.4 South Korea
           10.2.4.1 Market Trends
           10.2.4.2 Market Forecast
        10.2.5 Australia
           10.2.5.1 Market Trends
           10.2.5.2 Market Forecast
        10.2.6 Indonesia
           10.2.6.1 Market Trends
           10.2.6.2 Market Forecast
        10.2.7 Others
           10.2.7.1 Market Trends
           10.2.7.2 Market Forecast
    10.3    Europe
        10.3.1 Germany
           10.3.1.1 Market Trends
           10.3.1.2 Market Forecast
        10.3.2 France
           10.3.2.1 Market Trends
           10.3.2.2 Market Forecast
        10.3.3 United Kingdom
           10.3.3.1 Market Trends
           10.3.3.2 Market Forecast
        10.3.4 Italy
           10.3.4.1 Market Trends
           10.3.4.2 Market Forecast
        10.3.5 Spain
           10.3.5.1 Market Trends
           10.3.5.2 Market Forecast
        10.3.6 Russia
           10.3.6.1 Market Trends
           10.3.6.2 Market Forecast
        10.3.7 Others
           10.3.7.1 Market Trends
           10.3.7.2 Market Forecast
    10.4    Latin America
        10.4.1 Brazil
           10.4.1.1 Market Trends
           10.4.1.2 Market Forecast
        10.4.2 Mexico
           10.4.2.1 Market Trends
           10.4.2.2 Market Forecast
        10.4.3 Others
           10.4.3.1 Market Trends
           10.4.3.2 Market Forecast
    10.5    Middle East and Africa
        10.5.1 Market Trends
        10.5.2 Market Breakup by Country
        10.5.3 Market Forecast
11    SWOT Analysis
    11.1    Overview
    11.2    Strengths
    11.3    Weaknesses
    11.4    Opportunities
    11.5    Threats
12    Value Chain Analysis
13    Porters Five Forces Analysis

    13.1    Overview
    13.2    Bargaining Power of Buyers
    13.3    Bargaining Power of Suppliers
    13.4    Degree of Competition
    13.5    Threat of New Entrants
    13.6    Threat of Substitutes
14    Price Analysis
15    Competitive Landscape

    15.1    Market Structure
    15.2    Key Players
    15.3    Profiles of Key Players
        15.3.1    Giesecke & Devrient GmbH
           15.3.1.1 Company Overview
           15.3.1.2 Product Portfolio
        15.3.2    Heartland Payment Systems (Global Payments Inc.)
           15.3.2.1 Company Overview
           15.3.2.2 Product Portfolio
        15.3.3    IDEMIA (Advent International)
           15.3.3.1 Company Overview
           15.3.3.2 Product Portfolio
        15.3.4    Ingenico Group (Worldline S.A.)
           15.3.4.1 Company Overview
           15.3.4.2 Product Portfolio
        15.3.5    On Track Innovations Ltd
           15.3.5.1 Company Overview
           15.3.5.2 Product Portfolio
           15.3.5.3 Financials
        15.3.6    Pax Technology
           15.3.6.1 Company Overview
           15.3.6.2 Product Portfolio
        15.3.7    Setomatic Systems
           15.3.7.1 Company Overview
           15.3.7.2 Product Portfolio
        15.3.8    Thales Group
           15.3.8.1 Company Overview
           15.3.8.2 Product Portfolio
           15.3.8.3 Financials
           15.3.8.4 SWOT Analysis
        15.3.9    Valitor
           15.3.9.1 Company Overview
           15.3.9.2 Product Portfolio
        15.3.10    Verifone Systems Inc. (Francisco Partners)
           15.3.10.1 Company Overview
           15.3.10.2 Product Portfolio
        15.3.11    Visa Inc.
           15.3.11.1 Company Overview
           15.3.11.2 Product Portfolio
           15.3.11.3 Financials
           15.3.11.4 SWOT Analysis

List of Figures

Figure 1: Global: Contactless Payment Market: Major Drivers and Challenges
Figure 2: Global: Contactless Payment Market: Sales Value (in Billion US$), 2015-2020
Figure 3: Global: Contactless Payment Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 4: Global: Contactless Payment Market: Breakup by Technology (in %), 2020
Figure 5: Global: Contactless Payment Market: Breakup by Device (in %), 2020
Figure 6: Global: Contactless Payment Market: Breakup by Solution (in %), 2020
Figure 7: Global: Contactless Payment Market: Breakup by Application (in %), 2020
Figure 8: Global: Contactless Payment Market: Breakup by Region (in %), 2020
Figure 9: Global: Contactless Payment (Near Field Communication- NFC) Market: Sales Value (in Million US$), 2015 & 2020
Figure 10: Global: Contactless Payment (Near Field Communication- NFC) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 11: Global: Contactless Payment (Radio Frequency Identification- RFID) Market: Sales Value (in Million US$), 2015 & 2020
Figure 12: Global: Contactless Payment (Radio Frequency Identification- RFID) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 13: Global: Contactless Payment (Infrared- IR) Market: Sales Value (in Million US$), 2015 & 2020
Figure 14: Global: Contactless Payment (Infrared- IR) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 15: Global: Contactless Payment (Other Technologies) Market: Sales Value (in Million US$), 2015 & 2020
Figure 16: Global: Contactless Payment (Other Technologies) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 17: Global: Contactless Payment (Smartphones and Wearables) Market: Sales Value (in Million US$), 2015 & 2020
Figure 18: Global: Contactless Payment (Smartphones and Wearables) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 19: Global: Contactless Payment (Point-of-Sales Terminals) Market: Sales Value (in Million US$), 2015 & 2020
Figure 20: Global: Contactless Payment (Point-of-Sales Terminals) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 21: Global: Contactless Payment (Smart Cards) Market: Sales Value (in Million US$), 2015 & 2020
Figure 22: Global: Contactless Payment (Smart Cards) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 23: Global: Contactless Payment (Payment Terminal Solution) Market: Sales Value (in Million US$), 2015 & 2020
Figure 24: Global: Contactless Payment (Payment Terminal Solution) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 25: Global: Contactless Payment (Transaction Management) Market: Sales Value (in Million US$), 2015 & 2020
Figure 26: Global: Contactless Payment (Transaction Management) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 27: Global: Contactless Payment (Security and Fraud Management) Market: Sales Value (in Million US$), 2015 & 2020
Figure 28: Global: Contactless Payment (Security and Fraud Management) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 29: Global: Contactless Payment (Hosted Point-of-Sales) Market: Sales Value (in Million US$), 2015 & 2020
Figure 30: Global: Contactless Payment (Hosted Point-of-Sales) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 31: Global: Contactless Payment (Payment Analytics) Market: Sales Value (in Million US$), 2015 & 2020
Figure 32: Global: Contactless Payment (Payment Analytics) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 33: Global: Contactless Payment (BFSI) Market: Sales Value (in Million US$), 2015 & 2020
Figure 34: Global: Contactless Payment (BFSI) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 35: Global: Contactless Payment (Retail) Market: Sales Value (in Million US$), 2015 & 2020
Figure 36: Global: Contactless Payment (Retail) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 37: Global: Contactless Payment (Transportation) Market: Sales Value (in Million US$), 2015 & 2020
Figure 38: Global: Contactless Payment (Transportation) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 39: Global: Contactless Payment (Healthcare) Market: Sales Value (in Million US$), 2015 & 2020
Figure 40: Global: Contactless Payment (Healthcare) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 41: Global: Contactless Payment (Other Applications) Market: Sales Value (in Million US$), 2015 & 2020
Figure 42: Global: Contactless Payment (Other Applications) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 43: North America: Contactless Payment Market: Sales Value (in Million US$), 2015 & 2020
Figure 44: North America: Contactless Payment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 45: United States: Contactless Payment Market: Sales Value (in Million US$), 2015 & 2020
Figure 46: United States: Contactless Payment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 47: Canada: Contactless Payment Market: Sales Value (in Million US$), 2015 & 2020
Figure 48: Canada: Contactless Payment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 49: Asia-Pacific: Contactless Payment Market: Sales Value (in Million US$), 2015 & 2020
Figure 50: Asia-Pacific: Contactless Payment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 51: China: Contactless Payment Market: Sales Value (in Million US$), 2015 & 2020
Figure 52: China: Contactless Payment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 53: Japan: Contactless Payment Market: Sales Value (in Million US$), 2015 & 2020
Figure 54: Japan: Contactless Payment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 55: India: Contactless Payment Market: Sales Value (in Million US$), 2015 & 2020
Figure 56: India: Contactless Payment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 57: South Korea: Contactless Payment Market: Sales Value (in Million US$), 2015 & 2020
Figure 58: South Korea: Contactless Payment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 59: Australia: Contactless Payment Market: Sales Value (in Million US$), 2015 & 2020
Figure 60: Australia: Contactless Payment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 61: Indonesia: Contactless Payment Market: Sales Value (in Million US$), 2015 & 2020
Figure 62: Indonesia: Contactless Payment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 63: Others: Contactless Payment Market: Sales Value (in Million US$), 2015 & 2020
Figure 64: Others: Contactless Payment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 65: Europe: Contactless Payment Market: Sales Value (in Million US$), 2015 & 2020
Figure 66: Europe: Contactless Payment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 67: Germany: Contactless Payment Market: Sales Value (in Million US$), 2015 & 2020
Figure 68: Germany: Contactless Payment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 69: France: Contactless Payment Market: Sales Value (in Million US$), 2015 & 2020
Figure 70: France: Contactless Payment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 71: United Kingdom: Contactless Payment Market: Sales Value (in Million US$), 2015 & 2020
Figure 72: United Kingdom: Contactless Payment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 73: Italy: Contactless Payment Market: Sales Value (in Million US$), 2015 & 2020
Figure 74: Italy: Contactless Payment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 75: Spain: Contactless Payment Market: Sales Value (in Million US$), 2015 & 2020
Figure 76: Spain: Contactless Payment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 77: Russia: Contactless Payment Market: Sales Value (in Million US$), 2015 & 2020
Figure 78: Russia: Contactless Payment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 79: Others: Contactless Payment Market: Sales Value (in Million US$), 2015 & 2020
Figure 80: Others: Contactless Payment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 81: Latin America: Contactless Payment Market: Sales Value (in Million US$), 2015 & 2020
Figure 82: Latin America: Contactless Payment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 83: Brazil: Contactless Payment Market: Sales Value (in Million US$), 2015 & 2020
Figure 84: Brazil: Contactless Payment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 85: Mexico: Contactless Payment Market: Sales Value (in Million US$), 2015 & 2020
Figure 86: Mexico: Contactless Payment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 87: Others: Contactless Payment Market: Sales Value (in Million US$), 2015 & 2020
Figure 88: Others: Contactless Payment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 89: Middle East and Africa: Contactless Payment Market: Sales Value (in Million US$), 2015 & 2020
Figure 90: Middle East and Africa: Contactless Payment Market: Breakup by Country (in %), 2020
Figure 91: Middle East and Africa: Contactless Payment Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 92: Global: Contactless Payment Industry: SWOT Analysis
Figure 93: Global: Contactless Payment Industry: Value Chain Analysis
Figure 94: Global: Contactless Payment Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Contactless Payment Market: Key Industry Highlights, 2020 and 2026
Table 2: Global: Contactless Payment Market Forecast: Breakup by Technology (in Million US$), 2021-2026
Table 3: Global: Contactless Payment Market Forecast: Breakup by Device (in Million US$), 2021-2026
Table 4: Global: Contactless Payment Market Forecast: Breakup by Solution (in Million US$), 2021-2026
Table 5: Global: Contactless Payment Market Forecast: Breakup by Application (in Million US$), 2021-2026
Table 6: Global: Contactless Payment Market Forecast: Breakup by Region (in Million US$), 2021-2026
Table 7: Global: Contactless Payment Market: Competitive Structure
Table 8: Global: Contactless Payment Market: Key Players

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