Dublin, 08 Oct 2020 (GLOBE NEWSWIRE) – The report “Contactless Payment Transaction – Global Market Trajectory and Analysis” has been added to ResearchAndMarkets.com offer.
Global contactless payment transaction market to reach $ 555.4 billion by 2027
Amid the COVID-19 crisis, the global contactless payment transaction market, estimated at US $ 32.9 billion in 2020, is expected to reach a revised size of US $ 555.4 billion by 2027, with a CAGR of 49.7% over the analysis period 2020 -2027.
Contactless card (NFC / RFID), one of the segments analyzed in the report, is expected to register a CAGR of 50.5% and reach $ 303.9 billion by the end of the analysis period. After an initial analysis of the business implications of the pandemic and its induced economic crisis, the growth of the wearable device segment is readjusted to a revised CAGR of 43.4% for the next 7-year period.
The US market is estimated at $ 10 billion, while China is expected to grow at 47.6% CAGR
The contactless payment transaction market in the United States is estimated at US $ 10 billion in 2020. China, the world’s second-largest economy, is expected to reach a projected market size of US $ 88.4 billion by 2027 , after a CAGR of 47.3% over the analysis period 2020 to 2027. Other notable geographies include Japan and Canada, each forecasting growth of 45.8% and 41.8% respectively over the period 2020-2027. In Europe, Germany is expected to grow by around 32.6% CAGR.
Contactless mobile payments segment registers a CAGR of 55.2%
In the global contactless mobile payment segment, the United States, Canada, Japan, China and Europe will lead the estimated 55.2% CAGR for this segment. These regional markets representing a combined market size of US $ 5 billion in 2020 will reach a projected size of US $ 107.8 billion by the end of the analysis period. China will remain among the fastest growing countries in this group of regional markets. Led by countries like Australia, India and South Korea, the Asia-Pacific market is expected to reach $ 68 billion by 2027.
The report presents concise information on the impact of the pandemic on production and the buy side for 2020 and 2021. A short-term gradual recovery by key geography is also discussed.
Competitors identified in this market include, among others:
- Apple Inc.
- Barclays plc.
- Gemalto SA
- Giesecke & Devrient GmbH
- Heartland Payment Systems, Inc.
- Ingénico Group
- INSIDE Secure
- On Track Innovations Ltd.
- Samsung Electronics Co., Ltd.
- VeriFone Systems, Inc.
- Wirecard SA
Main topics covered:
I. INTRODUCTION, METHODOLOGY AND SCOPE OF THE REPORT
1. MARKET OVERVIEW
- Market shares of global competitors
- Competitors’ market share scenario for contactless payment transactions worldwide (in%): 2019 and 2025
- Impact of Covid-19 and an impending global recession
2. FOCUS ON CERTAIN PLAYERS
3. MARKET TRENDS AND FACTORS
4. WORLD MARKET PERSPECTIVE
- Global Contactless Payment Transactions Market Estimates and Forecasts in USD Million by Region / Country: 2020-2027
- Change in the market share of contactless payment transactions in the main geographies of the world: 2020 VS 2027
- Global Contactless Cards (NFC / RFID) Market (Segment) by Region / Country in USD Million: 2020 to 2027
- Contactless Cards (NFC / RFID) Market Share Breakdown (Segment) of Global Sales by Region / Country: 2020 VS 2027
- Global Wearable Device Growth Potential Markets (Segment) in USD Million: 2020 to 2027
- Wearable Devices Market Sales Breakdown (Segment) by Region / Country in Percentage: 2020 VS 2027
- Contactless mobile payment geographic market (segment) distributed worldwide in millions of US dollars: 2020 to 2027
- Breakdown of contactless mobile payment market share (segment) in percentage by region / country: 2020 VS 2027
- Global Retail Demand (End Use) Potential in US $ Millions by Region / Country: 2020-2027
- Retail Share Breakdown (End Use) Review by Region / Country: 2020 VS 2027
- Global Hospitality Latent Demand Forecast (End Use) in USD Million by Region / Country: 2020-2027
- Hospitality (end use) Global sales breakdown by region / country: 2020 VS 2027
- Transportation Sales (End Use) Estimates and Forecasts in US $ Millions by Region / Country for Years 2020 to 2027
- Global Transportation Market Share (End Use) Distribution by Region / Country for 2020 and 2027
- Global Healthcare Opportunity Assessment (End Use) in USD Million by Region / Country: 2020-2027
- Healthcare (End Use) Percentage Breakdown of Global Sales by Region / Country: 2020 VS 2027
- Global Sales of Other End Use (End Use) in USD Million by Region / Country: 2020-2027
- Other end-use (end-use) market share change in key geographies: 2020 VS 2027
III. MARKET ANALYSIS
GEOGRAPHICAL ANALYSIS OF THE MARKET
- Market facts and figures
- Market share of contactless payment transactions (in%) by company: 2019 and 2025
- Market analysis
- Contactless Payment Transactions Market Estimates and Projections in USD Million by Segment: 2020 to 2027
- Breakdown of the contactless payment transaction market share by segment: 2020 VS 2027
- Forecast latent demand for contactless payment transactions in US $ millions by end use: 2020 to 2027
- Contactless payment transaction market share breakdown by end use: 2020 VS 2027
- Total number of profiled companies: 41
For more information on this report, visit https://www.researchandmarkets.com/r/c9pbug
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