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Global Contactless Payments Market Size, Share, Trends: By Device Type: Smartphones and Wearables, Smart Cards, Post Terminals; By Application: Food and Groceries, Pharmacy and Drug Stores, Restaurants and Bars, Consumer Electronics, Media and Entertainment, Others; Regional Analysis; Competitive Landscape; 2024-2032
Contactless Payments Market Regional Analysis
The Asia Pacific is expected to be a Significant Regional Market for Contactless Payment
The Asia Pacific is expected to be a major regional market for contactless payments in the coming years and is projected to witness robust growth over the forecast period. The contactless payments industry in the region is being driven by the rising penetration of smartphones and flourishing e-commerce, leading to an increased adoption of digital wallets. QR codes are gaining increasing popularity in the Asia Pacific, which is further propelling the growth of the market in the region. The COVID-19 pandemic has also positively affected the contactless payments industry in the Asia Pacific region. Online shopping became necessary during lockdowns and various restrictions on physical stores amidst the pandemic, further fuelling the growth of the digital payment industry in the region.
Within the Asia Pacific, India is witnessing strong growth in terms of the adoption of digital payments. The contactless payment market has been witnessing robust growth in India, especially since the demonetisation of a few currency notes, which happened in 2016. The introduction of favourable government initiatives and the development of the UPI system has further propelled the growth of the market.
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.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Contactless Payments Market Analysis
8.1 Key Industry Highlights
8.2 Global Contactless Payments Historical Market (2018-2023)
8.3 Global Contactless Payments Market Forecast (2024-2032)
8.4 Global Contactless Payments Market by Device Type
8.4.1 Smartphones and Wearables
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Smart Cards
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Post Terminals
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.5 Global Contactless Payments Market by Application
8.5.1 Food and Groceries
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Pharmacy and Drug Stores
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Restaurants and Bars
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Consumer Electronics
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Media and Entertainment
8.5.5.1 Historical Trend (2018-2023)
8.5.5.2 Forecast Trend (2024-2032)
8.5.6 Others
8.6 Global Contactless Payments Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Contactless Payments Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Contactless Payments Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Contactless Payments Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Contactless Payments Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Contactless Payments Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Pax Technologies Pvt. Ltd.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Proxama PLC
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 VeriFone Holdings, Inc.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Wirecard AG
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 On Track Innovations Ltd.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Ingenico Group S.A.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Contactless Payments Market: Key Industry Highlights, 2018 and 2032
2. Global Contactless Payments Historical Market: Breakup by Device Type (USD Billion), 2018-2023
3. Global Contactless Payments Market Forecast: Breakup by Device Type (USD Billion), 2024-2032
4. Global Contactless Payments Historical Market: Breakup by Application Industry (USD Billion), 2018-2023
5. Global Contactless Payments Market Forecast: Breakup by Application Industry (USD Billion), 2024-2032
6. Global Contactless Payments Historical Market: Breakup by Region (USD Billion), 2018-2023
7. Global Contactless Payments Market Forecast: Breakup by Region (USD Billion), 2024-2032
8. North America Global Contactless Payments Historical Market: Breakup by Country (USD Billion), 2018-2023
9. North America Global Contactless Payments Market Forecast: Breakup by Country (USD Billion), 2024-2032
10. Europe Global Contactless Payments Historical Market: Breakup by Country (USD Billion), 2018-2023
11. Europe Global Contactless Payments Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Asia Pacific Global Contactless Payments Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Asia Pacific Global Contactless Payments Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Latin America Global Contactless Payments Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Latin America Global Contactless Payments Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Middle East and Africa Global Contactless Payments Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Middle East and Africa Global Contactless Payments Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Global Contactless Payments Market Structure
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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