Contactless Payment Transaction Market Projected to grow at a CAGR of 41.0% over the Forecast Period 2016-2024

New York, USA, 2018-Dec-10 — /EPR Network/ —  According to Goldstein Research, contactless payment transaction market is anticipated to reach a market size of USD 200.0 billion by 2024, growing at a CAGR of 41.0% over the forecast period 2016-2024. The factors such as reduced time & stress for making transactions, efficient streamline payment and moreover the growth of the e-commerce industry is driving the growth of the market. Further geographically, global contactless payment transaction industry is dominated by Europe, with a market share of 55.0% in 2016. Globally UK, US, and Australia have the highest share in the adoption of the contactless payment system, owing to the high adoption of wearable technology.

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Market Segmentation

Global Contactless Payment Transaction Market can be segmented as follows:

Based on Payment Mode

• Wearable Devices Market Analysis, 2016-2024
• Contactless Smart Card (Radio-frequency Identification/Near Field Communication Technology)Market Analysis, 2016-2024
• Contactless Mobile Payment Market Analysis, 2016-2024

Based on End-User

• Government
• Banking & Finance
• IT & Telecommunication
• Transportation & Logistics
• Energy & Utilities
• Healthcare
• Retail
• Hospitality

By Region

• North America Contactless Payment Transaction Market Analysis, 2016-2024
• Europe Contactless Payment Transaction Market Analysis, 2016-2024
• Middle East And Africa Contactless Payment Transaction Market Analysis, 2016-2024
• Latin America Contactless Payment Transaction Market Analysis, 2016-2024
• Asia Pacific Contactless Payment Transaction Market Analysis, 2016-2024
• Rest Of The World Contactless Payment Transaction Market Analysis, 2016-2024

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“Global Contactless Payment Transaction Market Outlook 2024” contains detailed overview of the global contactless payment transaction market. On the basis of our in-depth analysis, market can be segmented in terms of market segmentation by payment mode, end user and geography.

The Global Contactless Payment Transaction Market Report encompasses the competitive outlook of major players across the globe that includes the R&D activities, investments, revenue distribution, financial analysis, business strategies, and product portfolio. The in-depth analysis of the contactless payment transaction market report will help the clients to assess their business strategies as per the competitive environment in the market space.

Major players of the global contactless payment transaction market discussed in the report are: Apple Inc., Barclays, Gemalto N.V., Giesecke&Devrient GmbH, Heartland Payment Systems, Inc., Ingenico Group, Inside Secure, On Track Innovations LTD, Samsung Electronics Ltd., Verifone Systems, Inc., Oberthur Technologies SA, Proxama PLC, Wirecard AG, etc.

Further, Contactless Payment Transaction Market Report encompasses the major trends & growth opportunities, market dynamics and other growth factors. The Contactless Payment Transaction Market outlook also comprises of key challenges for the market players, risk analysis, SWOT Analysis, BPS analysis, and Market Attractiveness. The report also includes the expert analysis which provides a complete overview of the market post analysis of the economic, political, environmental & social factors of each region and country.

Contactless Payment Transaction Market driving on the basis of advancement in mentioned below industries:

Payment Gateway Market

Global payment gateways market is propelled by the growth of the global e-commerce industry coupled with the high penetration of smartphones and investments in high-speed internet such as 4G & 5G. Payment Gateways Market is expected to reach USD 28.7 billion by 2024, growing at a compounded annual growth rate of 14.1% during the forecast period 2016-2024.

Smart Card Market

Smart cards have multiple advantages from storing data to storing cash. On the basis of regional analysis the Malaysia Smart Card Market is set to reach USD 4.3 billion by 2025, growing at a CAGR of 7.52% over the forecast period (2017-2025). Where the Singapore Smart Card Market is set to reach USD 14.26 billion by 2025, growing at a CAGR of 8.3% over the forecast period (2017-2025).

Online Grocery Market

Online Grocery Market is projected to be growing at a CAGR of 19.5% over the forecast period 2016-2024. The global online grocery market accounts for nearly 15% of the total sale through e0commerce retail sales. Based on geography, Online Grocery Industry is dominated by Asia Pacific region, where South Korea acquires the largest market share at the global level, followed by Japan, U.K., France, Taiwan & China.

Online Food Delivery Market

The Online Food Delivery Market is expected to reach USD 25.0 billion by 2025, growing at a CAGR of 3.7% over the forecast period 2017-2025. The factors such as increasing millennial population, rising internet & smartphone penetration rate coupled with the growing space for restaurants and food outlets to attract a large number of customer base through online portals are majorly propelling the growth of global online food delivery market.

Smart Phones Market

The connection of smartphones with other devices is transforming day to day living style. The global smartphone market is valued USD 363.4 billion in 2016 and is projected to witness over 3.6 billion units shipments of smartphones by the end of 2024. The global smartphone market is anticipated to grow at a CAGR of 7.5% during the forecast period.