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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Contactless Payments Market Size
The global contactless payments market attained a value of USD 2,430.45 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 20.1% to reach USD 12,633.98 billion by 2032.
| Global Contactless Payments Market Report Summary | Description | Value |
| Base Year | USD Billion | 2023 |
| Historical Period | USD Billion | 2018-2023 |
| Forecast Period | USD Billion | 2024-2032 |
| Market Size 2023 | USD Billion | 2,430.45 |
| Market Size 2032 | USD Billion | 12,633.98 |
| CAGR 2018-2023 | Percentage | XX% |
| CAGR 2024-2032 | Percentage | 20.1% |
| CAGR 2024-2032 - Market by Region | Asia Pacific | 26.0% |
| CAGR 2024-2032 - Market by Country | India | 29.9% |
| CAGR 2024-2032 - Market by Country | Germany | 21.1% |
| CAGR 2024-2032 - Market by Type | Smartphones and Wearables | 22.1% |
| CAGR 2024-2032 - Market by Application | Pharmacy and Drug Stores | 19.3% |
| Market Share by Country 2023 | Japan | 4.7% |
Contactless Payments Market Report Snapshots
Contactless Payments Market Size
Contactless Payments Market Growth
Contactless Payments Market Trends
Contactless Payments Companies
Contactless Payments Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global contactless payments market attained a value of nearly USD 2,430.45 billion.
The market is projected to grow at a CAGR of 20.1% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 12,633.98 billion by 2032.
The major drivers of the market include the growing e-commerce sector, rising internet penetration, and favourable government initiatives aimed at promoting contactless payments.
The key trends guiding the market include technological advancements and innovations and the rising use of contactless payments as a safe option as compared to payments by cards.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Smartphones and wearables, smart cards, and post terminals are the major device types considered in the market report.
The various applications of contactless payments are food and groceries, pharmacy and drug stores, restaurants and bars, consumer electronics, and media and entertainment, among others.
The major players in the market are Pax Technologies Pvt. Ltd., Proxama PLC, VeriFone Holdings, Inc., Wirecard AG, On Track Innovations Ltd., and Ingenico Group S.A., among others.
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