The global contactless payments market was valued at $6,734 million in 2016, and is projected to reach at $25,565 million by 2023, growing at a CAGR of 21.2% from 2017 to 2023. In 2016, the mobile devices segment accounted for the highest revenue share in the contactless payments market.
Consumers as well as enterprises have increasingly adopted number of ways for convenient and secure payments. One of such medium is a contactless system that has revolutionized the retail and transportation industries in the past few years.
The global contactless payments market is driven by convenience in processing low-value payments, increased revenue opportunities, and reduced transaction time. However, high costs involved for the deployment of EPOS terminals and lack of trust and security concerns hamper the market growth.
Download report sample at: https://www.alliedmarketresearch.com/request-sample/2513
Europe dominated the global market in 2016, and is expected to continue this trend during the forecast period, owing to the growing adoption of contactless smart cards. Furthermore, Asia-Pacific is expected to grow at the highest CAGR during the forecast period.
The global contactless payments market was led by the mobile devices segment in 2016, and is expected to continue this trend during the forecast period. However, the smart cards segment is expected to witness the highest growth, owing to rise in adoption of these cards due to advantages such as convenience and speed.
In 2016, the global market was dominated by the BFSI industry, and is expected to continue this trend during the forecast period. However, the others segment is expected to witness the highest growth, owing to increase in installation of contactless readers in the premises of hospitals for convenience of both patients and doctors.
For purchase enquiry at: https://www.alliedmarketresearch.com/purchase-enquiry/2513
The key players profiled in the report include Ingenico Group, Verifone Systems, Inc., Inside Secure, on Track Innovations, Oberthur Technologies SA, Proxama, PLC., Wirecard AG, Giesecke & Devrient GmbH, Gemalto N.V., and Heartland Payment Systems, Inc.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
Toll Free: +1-800-792-5285
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060