Pune, Maharashtra -- (SBWIRE) -- 05/27/2020 -- Analytical Research Cognizance has added an exhaustive research study of the ' Contactless Payments market', detailing every single market driver and intricately analyzing the business vertical. This ' Contactless Payments market' study will aid in seeking out new business opportunities and fine-tuning existing marketing strategies through insights regarding SWOT analysis, market valuation, competitive spectrum, regional share, and revenue predictions.

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The Global Contactless Payments market is accounted for $8.00 billion in 2018 and is expected to reach $24.99 billion by 2027 growing at a CAGR of 13.5% during the forecast period. While the factors such as increased customer satisfaction and improved loyalty programs, and enhanced purchase experience are driving the growth of the market. However, the high cost of deploying contactless payment technologies is restraining market growth. Moreover, the rising demand for mobile and wearable payment devices is creating ample opportunities across the globe.

Contactless Payment, a service offered by banks is a secure way for consumers to purchase goods or services via smart cards without signing or entering a pin. A contactless transaction can be done by just tapping the card on a Point of Sale terminal. The primary goal of these payments is to speed up the transaction for consumers. Contactless payment transactions are limited as these are not authenticated by a pin or a signature. Banks and Credit Card issuers also get benefited from contactless payments as the customers who tap tend to use their cards more frequently. In a contactless payment transaction, the data associated with your card or device constantly changes and can hardly be hacked.

Based on end-user, the retail segment is likely to have a huge demand in the forecast period due to retailers are adopting innovative technologies, like cloud computing, big data analytics, digital stores, and social networks, to increase their visibility and presence in the market. Moreover, retailers are modernizing their brick-and-mortar stores to provide improved services for customers and establish online stores to increase revenues.

By geography, Europe is estimated to grow at a significant rate due to the presence of the diverse range of countries such as UK, Spain, and Poland which are the leading countries in total contactless spending with the increasing circulation of contactless cards and terminals by card companies, such as Visa and Mastercard.

Some of the key players in Contactless Payments Market include Gemalto N.V, Giesecke& Devrient Gmbh, Verifone Systems, Inc, Ingenico Group, Wirecard AG, Heartland Payment Systems, Inc, Inside Secure, Oberthur Technologies SA, On Track Innovations, Proxama, Paycor, SumUp, Castle, Alcinéo, and Mobeewave.

Operational Frequencies Covered: Ultra High Frequency, High Frequency, Low Frequency

Technologies Covered: Radio Frequency Identification (RFID) Technology, Near Field Communication (NFC) Technology, Infrared (IR) Technology, Bluetooth

Devices Covered: Introduction, Stickers, Plastic Cards, Watch and Wrist Band, Key Fobs, Mobile Phones, Car Tag, Smart Cards, Mobile Handsets

Components Covered: Solutions, Services, Hardware, Application Programming Interface (API), Mobile Applications, Software Development Kit (SDK), Other Components

Transaction Models Covered: Offline Stored Value Card, Speedpass, E-Z Pass, Europay, MasterCard and Visa (EMV) Card, Track 1 and Track 2 Data

End Users Covered: Hospitality, Government & Public Sector, Telecommunication & IT, Retail, Energy & Utilities, Healthcare, Transportation & Logistics, Banking, Financial Services and Insurance (BFSI), Education
Regions Covered: North America, US, Canada, Mexico, Europe, Germany, UK, Italy, France, Spain, Rest of Europe, Asia Pacific, Japan , China , India , Australia , New Zealand , South Korea , Rest of Asia Pacific , South America, Argentina, Brazil, Chile, Rest of South America, Middle East & Africa , Saudi Arabia, UAE, Qatar, South Africa, Rest of Middle East & Africa

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What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2017, 2018, 2019, 2023 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter's five forces analysis, SWOT analysis, etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
Company Profiling
Comprehensive profiling of additional market players (up to 3)
SWOT Analysis of key players (up to 3)
Regional Segmentation
Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances.

Some Points of TOC:

Chapter One: Executive Summary
Chapter Two: Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

Chapter Three: Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19

Chapter Four: Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

Chapter Five: Global Contactless Payments Market, By Operational Frequency
5.1 Introduction
5.2 Ultra High Frequency
5.3 High Frequency
5.4 Low Frequency

Chapter Six: Global Contactless Payments Market, By Technology
6.1 Introduction
6.2 Radio Frequency Identification (RFID) Technology
6.3 Near Field Communication (NFC) Technology
6.4 Infrared (IR) Technology
6.5 Bluetooth

Chapter Seven: Global Contactless Payments Market, By Devices
7.1 Introduction
7.2 Stickers
7.3 Plastic Cards
7.4 Watch and Wrist Band
7.5 Key Fobs
7.6 Mobile Phones
7.7 Car Tag
7.8 Smart Cards
7.9 Mobile Handsets

Note:
Our report does take into account the impact of coronavirus pandemic and dedicates qualitative as well as quantitative sections of information within the report that emphasizes the impact of COVID-19.As this pandemic is ongoing and leading to dynamic shifts in stocks and businesses worldwide, we take into account the current condition and forecast the market data taking into consideration the micro and macroeconomic factors that will be affected by the pandemic.