Europe is expected to hold the largest market share of the contactless payment market in 2016 due to technological advancements and increasing contactless smart card roll-outs. Asia-Pacific (APAC) to witness highest growth during the forecast period. APAC is expected to have the highest growth rate during the forecast period due to the increasing number of contactless payment technology enabled smart phones in countries such as China, Australia, Japan, and India. Complete report on contactless payment market spread across 146 pages, profiling 10 companies and supported with 69 tables and 48 figures is now available at http://www.rnrmarketresearch.com/contactless-payments-market-by-solutions-payment-terminal-business-management-card-issuance-anti-skimming-by-services-consultation-integration-value-added-services-global-advancements-m-market-report.html .
Payment terminal solution to dominate contactless payment market during the forecast period. In 2016, payment terminal solution is expected to dominate the contactless payment solutions market due to the increasing support and assistance required by the merchants who are readily deploying the contactless payment terminals in the businesses to support contactless payment transactions. Healthcare is the fastest-growing vertical due to increasing adoption of contactless technology for bill payments in hospitals. Professional services commands the major share in contactless payment services market as these services are necessary for the successful implementation of contactless payment platforms and technologies.
Increasing adoption of contactless payment technology in mobile handsets and wearables is expected to drive the contactless payment market.
The various key contactless payment vendors profiled in the report are Gemalto N.V., Giesecke & Devrient GmbH, Ingenico Group, Verifone Systems Inc., Wirecard AG, Heartland Payment Systems Inc., INSIDE Secure, OTI, Oberthur Technologies SA and Proxama PLC. Order a copy of “Contactless Payment Market by Solution (Payment Terminal, Mobile Payment, Transaction & Data Management, Security and Fraud Management), Service (Professional, Managed), Payment Mode (Mobile Handsets, Smart Cards), Vertical - Global Forecast to 2021” research report at http://www.rnrmarketresearch.com/contacts/purchase?rname=141281 .
The contactless payment market size is estimated to grow from $6.70 billion in 2016 to $17.56 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 21.2% due to the increasing adoption of contactless payment technology in mobile handsets and wearables. Ease of integration of contactless payment technology with existing cards and increased average transaction value is also driving the growth of the market.
In the process of determining and verifying, the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (35%), Tier 2 (45%) and Tier 3 (20%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-level Executives (35%), Director Level (25%), and Others (40%) from various key organizations operating in the contactless payment market. The primary interviews were conducted worldwide covering regions such as North America (45%), Europe (20%), APAC (30%), and RoW (5%).
On a related note, another research titled Mobile Money Market Global Forecast to 2019 says, the global mobile money market is expected to grow from $12.34 billion in 2014 to $78.02 billion by 2019, at a Compound Annual Growth Rate (CAGR) of 44.6% during the forecast period from 2014 to 2019. In terms of regions, MEA is expected to be the biggest market in terms of market size, whereas APAC and NA are expected to experience increased market traction, during the forecast period. Companies like Vodafone Group PLC, Gemalto, FIS, Google, Inc., Mastercard Incorporated, Bharti Airtel Limited, Orange S.A., Monitise PLC, Mahindra Comviva and Paypal (Ebay, Inc.) have been profiled in this 188 pages research report available at http://www.rnrmarketresearch.com/mobile-money-mobile-payments-mobile-remittance-mobile-banking-mobile-commerce-market-advanced-technologies-value-chain-worldwide-market-forecasts-analysis-2013-2018-market-report.html .
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