Contactless Payment Transaction

Contactless Payment Transaction

Global Contactless Payments Market to Reach $5 Trillion by 2027

In the changed post COVID-19 business landscape, the global market for Contactless Payments estimated at US$1.4 Trillion in the year 2020, is projected to reach a revised size of US$5 Trillion by 2027, growing at a CAGR of 20.4% over the analysis period 2020-2027. Smartphones & Wearables, one of the segments analyzed in the report, is projected to record a 20.4% CAGR and reach US$3.1 Trillion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the PoS Terminals segment is readjusted to a revised 19.6% CAGR for the next 7-year period.

The U.S. Market is Estimated at $393.9 Billion, While China is Forecast to Grow at 19.4% CAGR

The Contactless Payments market in the U.S. is estimated at US$393.9 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$857.5 Billion by the year 2027 trailing a CAGR of 19.4% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 18.6% and 17.7% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 14.9% CAGR.

Smart Cards Segment to Record 23.2% CAGR

In the global Smart Cards segment, USA, Canada, Japan, China and Europe will drive the 23.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$102.5 Billion in the year 2020 will reach a projected size of US$436 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets.

Select Competitors (Total 72 Featured) -

• Apple, Inc.
• Barclays plc.
• Gemalto NV
• Giesecke & Devrient GmbH
• Heartland Payment Systems, Inc.
• Ingenico Group
• INSIDE Secure
• On Track Innovations Ltd.
• Samsung Electronics Co., Ltd.
• VeriFone Systems, Inc.
• Wirecard AG

Please note: Reports are sold as single-site single-user licenses. Electronic versions require 24-48 hours as each copy is customized to the client with digital controls and custom watermarks. The Publisher uses digital controls protecting against copying and printing is restricted to one full copy to be used at the same location.

The latest version of Adobe Acrobat Reader is required to view the report. Upon ordering an electronic version, the Publisher will provide a link to download the purchased report.

Prior to fulfillment of an order, the client will be required to sign a document detailing the purchase terms for a publication from this publisher.