Contactless Payment Market by Device Type (Smartphones &
Wearables, Smart Cards and Point-of-sale (POS) Terminals), Application (Food
& Groceries, Pharmacy & Drug Stores, Restaurants & Bars, Consumer
Electronics, Media & Entertainment and Others): Global Opportunity Analysis
and Industry Forecast, 2020-2027  , Covid
19 Outbreak Impact research report added by
Report Ocean, is an in-depth analysis of market
characteristics, size and growth, segmentation, regional and country
breakdowns, competitive landscape, market shares, trends and strategies for
this market. It traces the market's historic and forecast market growth by
geography. It places the market within the context of the wider Contactless Payment  market, and compares it with other markets., market definition, regional market opportunity, sales and
revenue by region, manufacturing cost analysis, Industrial Chain, market effect
factors analysis, Contactless Payment  market size
forecast, market data & Graphs and Statistics, Tables, Bar &Pie Charts,
and many more for business intelligence. Get
complete Report (Including Full TOC, 100+ Tables &
Figures, and Chart). – In-depth Analysis Pre & Post COVID-19 Market Outbreak Impact Analysis

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 “Contactless Payment Market
by Device Type, and Application: Opportunity Analysis and Industry Forecast,
2020-2027,” The global contactless payment industry size was valued at $1,168
billion in 2019, and is projected to reach $5,424 billion by 2027, growing at a
CAGR of 20.6% from 2020 to 2027.

Contactless payment systems comprise of several
devices such as credit & debit cards, smartphones, smart cards, key fobs,
and others. Unlike mobile payments that are done through the internet,
contactless payments are carried out in close physical proximity preventing
unauthorized access during the transaction(s). Moreover, payments are enabled
via secure contactless systems such as Apple Pay, Google Pay, Samsung Pay,
Fitbit Pay, and other mobile application that supports this option.

Factors such as surge in demand for mobile &
wearable payment devices, rising adoption of technology by merchants for small
value transactions, and numerous benefits provided by contactless payments are
propelling the growth of the contactless payment market. In addition,
integration of IoT & contactless payment technology and untapped potential
of emerging economies are expected to provide lucrative opportunities for the
contactless payment solution providers in the coming years.

On the basis of application, the food &
groceries segment dominated the contactless payment market in 2019, and is
projected to maintain its dominance during the forecast period. This is
attributed to several benefits provided by contactless payments such as shorter
queues for transaction, improved customer satisfaction, ability to capture data
on customer buying behavior, and therefore accelerates adoption of contactless
payments in retail sector. However, media and entertainment segment is expected
to grow at the fastest CAGR during the forecast period, owing to rise in
adoption of contactless payment technology such as NFC and RFID among across
sports industry and entertainment industry drives the growth of the market.

By region, the global contactless payment industry
was dominated by Europe in 2019 and is expected to maintain this trend during
the forecast period. Due to increased adoption of technologies which has
changed consumer behavior towards booking taxies, lodging, entertainment, and
others. In addition, launch of easy-to-use and new contactless applications,
such as Samsung Pay, Apple Pay, and Google Wallet, has accelerated the usage of
contactless payments by customers primarily in the retail and hospitality
industries. These major factors that influence the growth of the contactless
payment market in Europe.

However, Asia-Pacific is expected to grow at the
fastest CAGR during the forecast period as several consumers are adopting
contactless payments for day-to-day transactions and increased government
support towards investment in technologies are becoming major growth factors in
the region. 

The contactless payment industry has experienced
significant impact on revenue, owing to imposition of lockdowns &
shutdowns, several regulatory changes in existing frameworks took place
globally. Therefore, in order to curb the spread of virus, several retail
stores have adopted contactless payments and have limited the number of
consumers in their stores, improved their sanitization regimen, and introduced
social distancing markers. Therefore, rise in adoption of contactless payment
technologies and increase in investments toward new payment compliances
resulted in significant revenue growth for contactless payment solution
providers globally.

Key findings of the study

By device type, the smartphones & wearables
segment led the contactless payment market size, in terms of revenue in 2019.

By application, the food & groceries segment
led the contactless payment market share, size, in terms of revenue in 2019.

By region, Europe generated the highest revenue in
2019.

The key players profiled in the contactless
payment market analysis are Gemalto, Giesecke+Devrient, Ingenico, InsideSecure,
Oberthur Technologies S.A., On Track Innovations, PAX Technology, Inc., Proxama
Plc, Verifone, and Wirecard. These players have adopted various strategies to
increase their market penetration and strengthen their position in the
industry.

Key Segments Studied in the Global Contactless Payment  Market: Report
Coverage

COVID-19
– Next Thoughts: In this piece, we have shared key data and numbers that shine
a spotlight on the current scale of the crisis and the economic fallout.

A
combination of factors, including COVID-19 containment situation, end-use
market recovery & Recovery Timeline of 2020/ 2021

Under COVID-19 Outbreak Impact
Analysis:
We analyzed industry trends in
the context of COVID-19. We analyzed the impact of COVID-19 on the product
industry chain based on the upstream and downstream markets. We analyze the impact of COVID-19 on various regions
and major countries.
The impact of COVID-19 on the future development
of the industry is pointed out.

Study Explore :

�        
Market Behavior/ Level of Risk and
Opportunity

�        
End Industry Behavior/ Opportunity
Assessment

�        
Expected Industry Recovery Timeline

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or any query mail at sales@reportocean.com

In-Depth Qualitative COVID 19 Outbreak Impact Analysis Include
Identification And Investigation Of The Following Aspects:

Informational Takeaways from the Market Study: The report includes the completely examined and evaluated data
of the noticeable companies and their situation in the market considering
impact of Coronavirus. The measured tools including SWOT analysis, Porter's
five powers analysis, and assumption return debt were utilized while separating
the improvement of the key players performing in the market.

Key Development's in the Market: This report fuses the major
developments of the market that contains confirmations, composed endeavors,
R&D, new thing dispatch, joint endeavours, and relationship of driving
members working in the market.

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The study objectives of
this report are:

Important Features that are
under offering & key highlights of the report:
– Detailed overview of market
– Changing market dynamics of the industry
– In-depth market segmentation by Type,
Application etc
– Historical, current and projected market size
in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of market
– Strategies of key players and product
offerings
– Potential and niche segments/regions
exhibiting promising growth
– A neutral perspective towards market
performance
– Market players information to sustain and
enhance their footprint

The Study Explore COVID 19
Outbreak Impact Analysis

�        
What should be entry
strategies, countermeasures to economic impact, and marketing channels?

�        
What are market dynamics?

�        
What are challenges and
opportunities?

�        
What is economic impact on
market?

�        
What is current market status?
What's market competition in this industry, both company, and country wise?
What's market analysis by taking applications and types in consideration?

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Key Points Covered in Contactless Payment  Market Report:

Chapter 1, About Executive Summary to describe Definition,
Specifications and Classification of Contactless Payment  market, Applications, Market Segment by Regions North America, Europe or Asia;
Chapter 2, objective of the study.
Chapter 3, to display Research methodology and techniques.
Chapter 4 and 5, to show the Overall Market
Analysis, segmentation analysis, characteristics;
Chapter 6 and 7, to show the Market size, share
and forecast; Five forces analysis (bargaining Power of buyers/suppliers),
Threats to new entrants and market condition;
Chapter 8 and 9, to show analysis by regional
segmentation, comparison, leading countries and opportunities; Regional
Marketing Type Analysis, Supply Chain Analysis
Chapter 10, focus on identifying the key
industry influencer's, overview of decision framework accumulated through
Industry experts and strategic decision makers;
Chapter 11 and 12, Market Trend Analysis,
Drivers, Challenges by consumer behavior, Marketing Channels and demand &
supply.
Chapter 13 and 14, describe about the vendor
landscape (classification and Market Positioning)
Chapter 15, deals with Contactless Payment   Market sales channel, distributors, traders,
dealers, Research Findings and Conclusion, appendix and data source.

; ;..and
view more in complete table of Contents

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