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Global Contactless Payment Transaction Market Report 2020-2027: Market Expected to Grow at a CAGR of 49.7% - U.S. Market is Estimated at $10 Billion, While China is Forecast to Grow at 47.6%

Research and Markets
·5-min read

Dublin, Oct. 08, 2020 (GLOBE NEWSWIRE) -- The "Contactless Payment Transaction - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Global Contactless Payment Transaction Market to Reach $555.4 Billion by 2027

Amid the COVID-19 crisis, the global market for Contactless Payment Transaction estimated at US$32.9 Billion in the year 2020, is projected to reach a revised size of US$555.4 Billion by 2027, growing at a CAGR of 49.7% over the analysis period 2020-2027.

Contactless Card (NFC/RFID), one of the segments analyzed in the report, is projected to record a 50.5% CAGR and reach US$303.9 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Wearable Devices segment is readjusted to a revised 43.4% CAGR for the next 7-year period.

The U. S. Market is Estimated at $10 Billion, While China is Forecast to Grow at 47.6% CAGR

The Contactless Payment Transaction market in the U. S. is estimated at US$10 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$88.4 Billion by the year 2027 trailing a CAGR of 47.3% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 45.8% and 41.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 32.6% CAGR.

Contactless Mobile Payment Segment to Record 55.2% CAGR

In the global Contactless Mobile Payment segment, USA, Canada, Japan, China and Europe will drive the 55.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$5 Billion in the year 2020 will reach a projected size of US$107.8 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$68 Billion by the year 2027.

The report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.

Competitors identified in this market include, among others:

  • 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

Key Topics Covered:

I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Global Competitor Market Shares

  • Contactless Payment Transaction Competitor Market Share Scenario Worldwide (in %): 2019 & 2025

  • Impact of Covid-19 and a Looming Global Recession

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

4. GLOBAL MARKET PERSPECTIVE

  • Contactless Payment Transaction Global Market Estimates and Forecasts in US$ Million by Region/Country: 2020-2027

  • Contactless Payment Transaction Market Share Shift across Key Geographies Worldwide: 2020 VS 2027

  • Contactless Card (NFC/RFID) (Segment) World Market by Region/Country in US$ Million: 2020 to 2027

  • Contactless Card (NFC/RFID) (Segment) Market Share Breakdown of Worldwide Sales by Region/Country: 2020 VS 2027

  • Wearable Devices (Segment) Potential Growth Markets Worldwide in US$ Million: 2020 to 2027

  • Wearable Devices (Segment) Market Sales Breakdown by Region/Country in Percentage: 2020 VS 2027

  • Contactless Mobile Payment (Segment) Geographic Market Spread Worldwide in US$ Million: 2020 to 2027

  • Contactless Mobile Payment (Segment) Market Share Distribution in Percentage by Region/Country: 2020 VS 2027

  • Retail (End-Use) Demand Potential Worldwide in US$ Million by Region/Country: 2020-2027

  • Retail (End-Use) Share Breakdown Review by Region/Country: 2020 VS 2027

  • Hospitality (End-Use) Worldwide Latent Demand Forecasts in US$ Million by Region/Country: 2020-2027

  • Hospitality (End-Use) Distribution of Global Sales by Region/Country: 2020 VS 2027

  • Transport (End-Use) Sales Estimates and Forecasts in US$ Million by Region/Country for the Years 2020 through 2027

  • Transport (End-Use) Global Market Share Distribution by Region/Country for 2020 and 2027

  • Healthcare (End-Use) Global Opportunity Assessment in US$ Million by Region/Country: 2020-2027

  • Healthcare (End-Use) Percentage Share Breakdown of Global Sales by Region/Country: 2020 VS 2027

  • Other End-Uses (End-Use) Worldwide Sales in US$ Million by Region/Country: 2020-2027

  • Other End-Uses (End-Use) Market Share Shift across Key Geographies: 2020 VS 2027

III. MARKET ANALYSIS

GEOGRAPHIC MARKET ANALYSIS

  • Market Facts & Figures

  • Contactless Payment Transaction Market Share (in %) by Company: 2019 & 2025

  • Market Analytics

  • Contactless Payment Transaction Market Estimates and Projections in US$ Million by Segment: 2020 to 2027

  • Contactless Payment Transaction Market Share Breakdown by Segment: 2020 VS 2027

  • Contactless Payment Transaction Latent Demand Forecasts in US$ Million by End-Use: 2020 to 2027

  • Contactless Payment Transaction Market Share Breakdown by End-Use: 2020 VS 2027

IV. COMPETITION

  • Total Companies Profiled: 41

For more information about this report visit https://www.researchandmarkets.com/r/c9pbug

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