Contactless Payments Market Size and Forecast (2021-2031)

Contactless Payments Market Size and Forecast (2021-2031)

Contactless Payments Market Size and Forecast (2021 – 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Payment Mode (Smartphones, Smart Cards, PoS Terminals, and Others), Component (Hardware, Solutions, and Services), Industry Vertical (Retail, Hospitality, Healthcare, Transportation & Logistics, Media & Entertainment, and Others), and Geography

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Description

The contactless payments market is expected to grow from US$ 33.27 billion in 2023 to US$ 91.80 billion by 2031; it is estimated to record a CAGR of 13.5% from 2023 to 2031.

According to a 2021 report by Mastercard, over 85% of consumers in the Middle East & Africa (MEA) have experimented with new payment methods, including mobile wallets and devices that facilitate payments. In the evolving retail landscape, digital payments have transitioned from being a luxury to a necessity. Even before the COVID-19 pandemic, tech-savvy consumers were using their mobile phones for in-store purchases. However, the pandemic accelerated the shift to digital payments, as people sought to minimize physical touch points and cash usage. Consequently, governments in the MEA have introduced initiatives to promote touch-free payments, which is further driving the contactless payments market in the region.

Companies are launching innovative solutions in South America to expand their reach in the market. For instance, in January 2024, Visa, a global frontrunner in digital payments, unveiled its latest pilot program in Latin America and the Caribbean. This cutting-edge technology enables consumers to seamlessly complete online transactions by simply tapping their Visa debit, prepaid, or credit cards on their NFC-enabled Android smartphones, enhancing the payment process with added convenience, speed, and security. This pioneering solution effectively turns consumers’ phones into their contactless payment terminals, streamlining the e-commerce experience.

According to figures from the Reserve Bank of India, as of March 2022, there were over 73.6 million credit cards, over 917 million debit cards, and more than 6 million terminals in India. At the same time, contactless card adoption and the rollout of NFC-capable terminals have continued to increase. Furthermore, as per Worldline India, the proportion of contactless transactions in supermarkets increased from 25% in January 2020 to 31% in January 2022. Grocery, fuel stations, restaurants, and QSRs stand out as the primary market segments for card expenditure, accounting for 80% of the volume and 60% of the value of all card transactions. These stats highlight the widespread usage of contactless payment in the country, driving the market growth.

In Japan, contactless payment options have gained significant traction, providing both residents and visitors with enhanced convenience and efficiency. Contactless payment smartphone applications and QR code payment methods, such as PayPay, LinePay, Rpay (Rakuten Pay), and MerPay, are widely embraced in Japan and can be pre-downloaded to streamline transactions and save time. Additionally, Japan’s association with contactless payments is distinctive, exemplified by the widespread adoption of digital Pasmo and Suica transport cards as a popular form of electronic payment, initially intended for public transport but now widely accepted at various retail outlets across the country. Moreover, the utilization of contactless electronic payment systems, known as cashless payments in Japan, has expanded significantly, with RFID technology enabling secure transactions using debit or credit cards, IC cards, or other payment devices. Contactless payments are already accessible at most major convenience stores, retailers, and other establishments throughout Japan.

Infineon Technologies AG, Ingenico, Giesecke+Devrient GmbH, IDEMIA, CPI Card Group Inc., PAX Technology, SumUp Payments Pty Limited, Castles Technology, Visa Inc., and Mastercard are among the key contactless payments market players profiled in this market study. Several other essential contactless payments market players were also analyzed for a holistic view of the market and its ecosystem.

The overall contactless payments market size has been derived using both primary and secondary sources. To begin the contactless payments market research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the contactless payments market. The process also serves the purpose of obtaining an overview and market forecast of the contactless payments market growth with respect to all market segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data and gain more analytical insights about the topic. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers-along with external consultants such as valuation experts, research analysts, and key opinion leaders-specializing in the contactless payments market.

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According to our latest study on “Contactless Payments Market Size and Forecast (2021–2031), Global and Regional Share, Trend, and Growth Opportunity Analysis – by Payment Mode, Component, and Industry Vertical,” the market was valued at US$ 33.27 billion in 2023 and is expected to reach US$ 91.80 billion by 2031; it is estimated to record a CAGR of 13.5% from 2023 to 2031.

IoT-Embedded Contactless Payment to Provide Lucrative Opportunities for Contactless Payments Market Growth During Forecast Period

The IoT contains a vast network of interconnected devices, each embedded with sensors and software, capable of collecting and exchanging data over the Internet. Wearable devices, such as smartwatches, contactless payment cards, and mobile apps embedded with IoT technology, allow users to make payments with a simple tap or hold their device near a point-of-sale (PoS) terminal. The elimination of physical cards or cash not only streamlines the transaction process but also minimizes the risk of loss or theft. Security concerns have long been a central focus in financial transactions. The IoT introduces a myriad of innovative solutions to bolster security in payment processing. Biometric authentication, for example, is increasingly integrated into smart devices, adding a layer of verification beyond traditional passwords. This not only enhances security but also enhances the user experience. Moreover, IoT devices can continuously monitor and analyze transaction data in real time, swiftly identifying any anomalies or suspicious activities. Machine learning algorithms, when combined with IoT capabilities, enable financial institutions to develop predictive models that detect and prevent fraudulent transactions with higher accuracy. Connected devices within the IoT ecosystem can also communicate with each other to optimize payment experiences. For instance, a smart car equipped with IoT capabilities could facilitate automated toll payments without requiring any direct interaction from the driver. Thus, IoT-embedded contactless payment is expected to create a lucrative opportunity for the growth of the contactless payment market.

Key Findings of Contactless Payments Market Study:

Key companies are collaborating to expand their business in the country. For example, in August 2023, Visa Ready for Transit partnered with Conduent Transportation, a transit technology business, and Getnet, a digital payment startup, to implement contactless transit payments on Mexico Citi’s Metrobus. Metrobus serves ~1.8 million passengers daily, with prepaid cards generally used for payment. The improvement allows commuters to use contactless credit and debit cards, smartphones, and web-connected wearables. The underlying technology includes QR code readers at the bus network’s boarding points. Furthermore, according to MexicoBusiness.com, ~56% of Mexico City residents use mass transit.

In December 2023, OXXO introduced contactless payment options at its convenience stores so that customers can use a smart device to pay for their purchases. The service is currently accessible in 10,000 stores across Mexico. Further it is expected to boost the adoption of contactless payment in the country.

In 2023, in-store mobile payments experienced significant growth in Italy, with Nexi recording an 88% increase in the value of in-store mobile payment transactions via smartphones and smartwatches in the country. According to data released by the Innovative Payments Observatory of the School of Management of the Polytechnic of Milan, mobile-based payments increased by 78% overall in Italy last year, reaching a value of EUR 29 billion. Specifically, the number of payments processed by Nexi via smartphones and wearables during 2023 increased by 103%, while the number of Nexi cards registered on apps that virtualize the card on the smartphone, such as Google Pay, Samsung Pay, and Apple Pay, grew by 41% in the same period. These stats highlight the growing popularity and adoption of contactless payment in the country.

According to Adyen, China is a global leader in the use of mobile payments, having the highest population, largest e-commerce market, and fastest-growing economy in the world. With 92% of users utilizing digital wallets such as Alipay and WeChat Pay, which use QR codes as their primary means of payment, China has the largest percentage of mobile payment users globally. Mobile payments are already popular; however, cards are still a little less common due to consumers’ preference for digital purchases via QR codes rather than ubiquitous point-of-sale systems. Almost one-third of all luxury purchases made worldwide are made by Chinese consumers. Furthermore, Chinese travelers are predicted to spend nearly twice as much overseas by 2025-more than US$ 255 billion. These stats highlight the upward trend for the contactless payment market in China.

o Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the contactless payments market.
o Highlights key business priorities in order to assist companies to realign their business strategies
o The key findings and recommendations such as specific country and segmental insight highlights crucial progressive industry trends in the contactless payments market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
o Scrutinize in-depth market trends and outlook coupled with the factors driving the market, as well as those hindering it
o Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

TABLE OF CONTENTS

1. Introduction
1.1 the Research Team Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Secondary Research
3.2 Primary Research
3.2.1 Hypothesis formulation:
3.2.2 Macro-economic factor analysis:
3.2.3 Developing base number:
3.2.4 Data Triangulation:
3.2.5 Country level data:
4. Contactless Payments Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 Hardware Providers
4.3.2 Solution and Service Providers
4.3.3 Logistics and Supply Chain Management Providers
4.3.4 End Users
4.3.5 List of Vendors in the Value Chain
5. Contactless Payments Market – Key Market Dynamics
5.1 Contactless Payments Market – Key Market Dynamics
5.2 Market Drivers
5.2.1 Increase in Government Initiatives to Promote Digital Payments
5.2.2 Efficiency and Cost-Effectiveness of Contactless Payments
5.3 Market Restraints
5.3.1 Potential Security Concerns and Limitations
5.4 Market Opportunities
5.4.1 Technological Advancements in Contactless Payments
5.4.2 IoT-Embedded Contactless Payment
5.5 Future Trends
5.5.1 Voice-Based Payments with Voice Match Confirmation
5.6 Impact of Drivers and Restraints:
6. Contactless Payments Market – Global Market Analysis
6.1 Contactless Payments Market Revenue (US$ Million), 2021–2031
6.2 Contactless Payments Market Forecast Analysis
7. Contactless Payments Market Analysis – by Payment Mode
7.1 Smartphones
7.1.1 Overview
7.1.2 Smartphones: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
7.2 Smart Cards
7.2.1 Overview
7.2.2 Smart Cards: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
7.3 PoS Terminals
7.3.1 Overview
7.3.2 PoS Terminals: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
7.4 Others
7.4.1 Overview
7.4.2 Others: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
8. Contactless Payments Market Analysis – by Components
8.1 Hardware
8.1.1 Overview
8.1.2 Hardware: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
8.2 Solutions
8.2.1 Overview
8.2.2 Solutions: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
8.3 Services
8.3.1 Overview
8.3.2 Services: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
9. Contactless Payments Market Analysis – by Industry Verticals
9.1 Retail
9.1.1 Overview
9.1.2 Retail: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
9.2 Hospitality
9.2.1 Overview
9.2.2 Hospitality: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
9.3 Healthcare
9.3.1 Overview
9.3.2 Healthcare: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
9.4 Transportation and Logistics
9.4.1 Overview
9.4.2 Transportation and Logistics: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
9.5 Media and Entertainment
9.5.1 Overview
9.5.2 Media and Entertainment: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
9.6 Others
9.6.1 Overview
9.6.2 Others: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
10. Contactless Payments Market – Geographical Analysis
10.1 Overview
10.2 North America
10.2.1 North America Contactless Payments Market Overview
10.2.2 North America: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
10.2.3 North America: Contactless Payments Market Breakdown, by Payment Mode
10.2.3.1 North America: Contactless Payments Market – Revenue and Forecast Analysis – by Payment Mode
10.2.4 North America: Contactless Payments Market Breakdown, by Components
10.2.4.1 North America: Contactless Payments Market – Revenue and Forecast Analysis – by Components
10.2.5 North America: Contactless Payments Market Breakdown, by Industry Verticals
10.2.5.1 North America: Contactless Payments Market – Revenue and Forecast Analysis – by Industry Verticals
10.2.6 North America: Contactless Payments Market – Revenue and Forecast Analysis – by Country
10.2.6.1 North America: Contactless Payments Market – Revenue and Forecast Analysis – by Country
10.2.6.2 United States: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
10.2.6.2.1 United States: Contactless Payments Market Breakdown, by Payment Mode
10.2.6.2.2 United States: Contactless Payments Market Breakdown, by Components
10.2.6.2.3 United States: Contactless Payments Market Breakdown, by Industry Verticals
10.2.6.3 Canada: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
10.2.6.3.1 Canada: Contactless Payments Market Breakdown, by Payment Mode
10.2.6.3.2 Canada: Contactless Payments Market Breakdown, by Components
10.2.6.3.3 Canada: Contactless Payments Market Breakdown, by Industry Verticals
10.2.6.4 Mexico: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
10.2.6.4.1 Mexico: Contactless Payments Market Breakdown, by Payment Mode
10.2.6.4.2 Mexico: Contactless Payments Market Breakdown, by Components
10.2.6.4.3 Mexico: Contactless Payments Market Breakdown, by Industry Verticals
10.3 Europe
10.3.1 Europe Contactless Payments Market Overview
10.3.2 Europe: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
10.3.3 Europe: Contactless Payments Market Breakdown, by Payment Mode
10.3.3.1 Europe: Contactless Payments Market – Revenue and Forecast Analysis – by Payment Mode
10.3.4 Europe: Contactless Payments Market Breakdown, by Components
10.3.4.1 Europe: Contactless Payments Market – Revenue and Forecast Analysis – by Components
10.3.5 Europe: Contactless Payments Market Breakdown, by Industry Verticals
10.3.5.1 Europe: Contactless Payments Market – Revenue and Forecast Analysis – by Industry Verticals
10.3.6 Europe: Contactless Payments Market – Revenue and Forecast Analysis – by Country
10.3.6.1 Europe: Contactless Payments Market – Revenue and Forecast Analysis – by Country
10.3.6.2 Germany: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
10.3.6.2.1 Germany: Contactless Payments Market Breakdown, by Payment Mode
10.3.6.2.2 Germany: Contactless Payments Market Breakdown, by Components
10.3.6.2.3 Germany: Contactless Payments Market Breakdown, by Industry Verticals
10.3.6.3 United Kingdom: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
10.3.6.3.1 United Kingdom: Contactless Payments Market Breakdown, by Payment Mode
10.3.6.3.2 United Kingdom: Contactless Payments Market Breakdown, by Components
10.3.6.3.3 United Kingdom: Contactless Payments Market Breakdown, by Industry Verticals
10.3.6.4 France: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
10.3.6.4.1 France: Contactless Payments Market Breakdown, by Payment Mode
10.3.6.4.2 France: Contactless Payments Market Breakdown, by Components
10.3.6.4.3 France: Contactless Payments Market Breakdown, by Industry Verticals
10.3.6.5 Italy: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
10.3.6.5.1 Italy: Contactless Payments Market Breakdown, by Payment Mode
10.3.6.5.2 Italy: Contactless Payments Market Breakdown, by Components
10.3.6.5.3 Italy: Contactless Payments Market Breakdown, by Industry Verticals
10.3.6.6 Russian Federation: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
10.3.6.6.1 Russian Federation: Contactless Payments Market Breakdown, by Payment Mode
10.3.6.6.2 Russian Federation: Contactless Payments Market Breakdown, by Components
10.3.6.6.3 Russian Federation: Contactless Payments Market Breakdown, by Industry Verticals
10.3.6.7 Rest of Europe: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
10.3.6.7.1 Rest of Europe: Contactless Payments Market Breakdown, by Payment Mode
10.3.6.7.2 Rest of Europe: Contactless Payments Market Breakdown, by Components
10.3.6.7.3 Rest of Europe: Contactless Payments Market Breakdown, by Industry Verticals
10.4 Asia Pacific
10.4.1 Asia Pacific Contactless Payments Market Overview
10.4.2 Asia Pacific: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
10.4.3 Asia Pacific: Contactless Payments Market Breakdown, by Payment Mode
10.4.3.1 Asia Pacific: Contactless Payments Market – Revenue and Forecast Analysis – by Payment Mode
10.4.4 Asia Pacific: Contactless Payments Market Breakdown, by Components
10.4.4.1 Asia Pacific: Contactless Payments Market – Revenue and Forecast Analysis – by Components
10.4.5 Asia Pacific: Contactless Payments Market Breakdown, by Industry Verticals
10.4.5.1 Asia Pacific: Contactless Payments Market – Revenue and Forecast Analysis – by Industry Verticals
10.4.6 Asia Pacific: Contactless Payments Market – Revenue and Forecast Analysis – by Country
10.4.6.1 Asia Pacific: Contactless Payments Market – Revenue and Forecast Analysis – by Country
10.4.6.2 Australia: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
10.4.6.2.1 Australia: Contactless Payments Market Breakdown, by Payment Mode
10.4.6.2.2 Australia: Contactless Payments Market Breakdown, by Components
10.4.6.2.3 Australia: Contactless Payments Market Breakdown, by Industry Verticals
10.4.6.3 China: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
10.4.6.3.1 China: Contactless Payments Market Breakdown, by Payment Mode
10.4.6.3.2 China: Contactless Payments Market Breakdown, by Components
10.4.6.3.3 China: Contactless Payments Market Breakdown, by Industry Verticals
10.4.6.4 India: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
10.4.6.4.1 India: Contactless Payments Market Breakdown, by Payment Mode
10.4.6.4.2 India: Contactless Payments Market Breakdown, by Components
10.4.6.4.3 India: Contactless Payments Market Breakdown, by Industry Verticals
10.4.6.5 Japan: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
10.4.6.5.1 Japan: Contactless Payments Market Breakdown, by Payment Mode
10.4.6.5.2 Japan: Contactless Payments Market Breakdown, by Components
10.4.6.5.3 Japan: Contactless Payments Market Breakdown, by Industry Verticals
10.4.6.6 South Korea: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
10.4.6.6.1 South Korea: Contactless Payments Market Breakdown, by Payment Mode
10.4.6.6.2 South Korea: Contactless Payments Market Breakdown, by Components
10.4.6.6.3 South Korea: Contactless Payments Market Breakdown, by Industry Verticals
10.4.6.7 Rest of APAC: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
10.4.6.7.1 Rest of APAC: Contactless Payments Market Breakdown, by Payment Mode
10.4.6.7.2 Rest of APAC: Contactless Payments Market Breakdown, by Components
10.4.6.7.3 Rest of APAC: Contactless Payments Market Breakdown, by Industry Verticals
10.5 Middle East and Africa
10.5.1 Middle East and Africa Contactless Payments Market Overview
10.5.2 Middle East and Africa: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
10.5.3 Middle East and Africa: Contactless Payments Market Breakdown, by Payment Mode
10.5.3.1 Middle East and Africa: Contactless Payments Market – Revenue and Forecast Analysis – by Payment Mode
10.5.4 Middle East and Africa: Contactless Payments Market Breakdown, by Components
10.5.4.1 Middle East and Africa: Contactless Payments Market – Revenue and Forecast Analysis – by Components
10.5.5 Middle East and Africa: Contactless Payments Market Breakdown, by Industry Verticals
10.5.5.1 Middle East and Africa: Contactless Payments Market – Revenue and Forecast Analysis – by Industry Verticals
10.5.6 Middle East and Africa: Contactless Payments Market – Revenue and Forecast Analysis – by Country
10.5.6.1 Middle East and Africa: Contactless Payments Market – Revenue and Forecast Analysis – by Country
10.5.6.2 South Africa: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
10.5.6.2.1 South Africa: Contactless Payments Market Breakdown, by Payment Mode
10.5.6.2.2 South Africa: Contactless Payments Market Breakdown, by Components
10.5.6.2.3 South Africa: Contactless Payments Market Breakdown, by Industry Verticals
10.5.6.3 Saudi Arabia: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
10.5.6.3.1 Saudi Arabia: Contactless Payments Market Breakdown, by Payment Mode
10.5.6.3.2 Saudi Arabia: Contactless Payments Market Breakdown, by Components
10.5.6.3.3 Saudi Arabia: Contactless Payments Market Breakdown, by Industry Verticals
10.5.6.4 United Arab Emirates: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
10.5.6.4.1 United Arab Emirates: Contactless Payments Market Breakdown, by Payment Mode
10.5.6.4.2 United Arab Emirates: Contactless Payments Market Breakdown, by Components
10.5.6.4.3 United Arab Emirates: Contactless Payments Market Breakdown, by Industry Verticals
10.5.6.5 Rest of Middle East and Africa: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
10.5.6.5.1 Rest of Middle East and Africa: Contactless Payments Market Breakdown, by Payment Mode
10.5.6.5.2 Rest of Middle East and Africa: Contactless Payments Market Breakdown, by Components
10.5.6.5.3 Rest of Middle East and Africa: Contactless Payments Market Breakdown, by Industry Verticals
10.6 South and Central America
10.6.1 South and Central America Contactless Payments Market Overview
10.6.2 South and Central America: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
10.6.3 South and Central America: Contactless Payments Market Breakdown, by Payment Mode
10.6.3.1 South and Central America: Contactless Payments Market – Revenue and Forecast Analysis – by Payment Mode
10.6.4 South and Central America: Contactless Payments Market Breakdown, by Components
10.6.4.1 South and Central America: Contactless Payments Market – Revenue and Forecast Analysis – by Components
10.6.5 South and Central America: Contactless Payments Market Breakdown, by Industry Verticals
10.6.5.1 South and Central America: Contactless Payments Market – Revenue and Forecast Analysis – by Industry Verticals
10.6.6 South and Central America: Contactless Payments Market – Revenue and Forecast Analysis – by Country
10.6.6.1 South and Central America: Contactless Payments Market – Revenue and Forecast Analysis – by Country
10.6.6.2 Brazil: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
10.6.6.2.1 Brazil: Contactless Payments Market Breakdown, by Payment Mode
10.6.6.2.2 Brazil: Contactless Payments Market Breakdown, by Components
10.6.6.2.3 Brazil: Contactless Payments Market Breakdown, by Industry Verticals
10.6.6.3 Argentina: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
10.6.6.3.1 Argentina: Contactless Payments Market Breakdown, by Payment Mode
10.6.6.3.2 Argentina: Contactless Payments Market Breakdown, by Components
10.6.6.3.3 Argentina: Contactless Payments Market Breakdown, by Industry Verticals
10.6.6.4 Rest of South and Central America: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
10.6.6.4.1 Rest of South and Central America: Contactless Payments Market Breakdown, by Payment Mode
10.6.6.4.2 Rest of South and Central America: Contactless Payments Market Breakdown, by Components
10.6.6.4.3 Rest of South and Central America: Contactless Payments Market Breakdown, by Industry Verticals
11. Competitive Landscape
11.1 Company Positioning & Concentration
11.2 Heat Map Analysis by Key Players
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 Product Development
13. Company Profiles
13.1 Thales SA
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Infineon Technologies AG
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Ingenico Group SA
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Giesecke+Devrient GmbH
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 IDEMIA France SAS
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 PAX Technology
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 SumUp Inc.
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Visa Inc
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Mastercard Inc
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 CPI Card Group Inc
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 Word Index
14.2 About the Research Team

LIST OF TABLES

Table 1. Contactless Payments Market Segmentation
Table 2. List of Vendors
Table 3. Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
Table 4. Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million) – by Payment Mode
Table 5. Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million) – by Components
Table 6. Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million) – by Industry Verticals
Table 7. North America: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Payment Mode
Table 8. North America: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Components
Table 9. North America: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Industry Verticals
Table 10. North America: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Country
Table 11. United States: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Payment Mode
Table 12. United States: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Components
Table 13. United States: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Industry Verticals
Table 14. Canada: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Payment Mode
Table 15. Canada: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Components
Table 16. Canada: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Industry Verticals
Table 17. Mexico: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Payment Mode
Table 18. Mexico: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Components
Table 19. Mexico: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Industry Verticals
Table 20. Europe: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Payment Mode
Table 21. Europe: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Components
Table 22. Europe: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Industry Verticals
Table 23. Europe: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Country
Table 24. Germany: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Payment Mode
Table 25. Germany: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Components
Table 26. Germany: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Industry Verticals
Table 27. United Kingdom: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Payment Mode
Table 28. United Kingdom: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Components
Table 29. United Kingdom: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Industry Verticals
Table 30. France: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Payment Mode
Table 31. France: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Components
Table 32. France: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Industry Verticals
Table 33. Italy: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Payment Mode
Table 34. Italy: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Components
Table 35. Italy: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Industry Verticals
Table 36. Russian Federation: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Payment Mode
Table 37. Russian Federation: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Components
Table 38. Russian Federation: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Industry Verticals
Table 39. Rest of Europe: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Payment Mode
Table 40. Rest of Europe: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Components
Table 41. Rest of Europe: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Industry Verticals
Table 42. Asia Pacific: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Payment Mode
Table 43. Asia Pacific: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Components
Table 44. Asia Pacific: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Industry Verticals
Table 45. Asia Pacific: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Country
Table 46. Australia: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Payment Mode
Table 47. Australia: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Components
Table 48. Australia: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Industry Verticals
Table 49. China: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Payment Mode
Table 50. China: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Components
Table 51. China: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Industry Verticals
Table 52. India: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Payment Mode
Table 53. India: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Components
Table 54. India: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Industry Verticals
Table 55. Japan: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Payment Mode
Table 56. Japan: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Components
Table 57. Japan: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Industry Verticals
Table 58. South Korea: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Payment Mode
Table 59. South Korea: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Components
Table 60. South Korea: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Industry Verticals
Table 61. Rest of APAC: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Payment Mode
Table 62. Rest of APAC: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Components
Table 63. Rest of APAC: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Industry Verticals
Table 64. Middle East and Africa: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Payment Mode
Table 65. Middle East and Africa: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Components
Table 66. Middle East and Africa: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Industry Verticals
Table 67. Middle East and Africa: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Country
Table 68. South Africa: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Payment Mode
Table 69. South Africa: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Components
Table 70. South Africa: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Industry Verticals
Table 71. Saudi Arabia: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Payment Mode
Table 72. Saudi Arabia: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Components
Table 73. Saudi Arabia: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Industry Verticals
Table 74. United Arab Emirates: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Payment Mode
Table 75. United Arab Emirates: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Components
Table 76. United Arab Emirates: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Industry Verticals
Table 77. Rest of Middle East and Africa: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Payment Mode
Table 78. Rest of Middle East and Africa: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Components
Table 79. Rest of Middle East and Africa: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Industry Verticals
Table 80. South and Central America: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Payment Mode
Table 81. South and Central America: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Components
Table 82. South and Central America: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Industry Verticals
Table 83. South and Central America: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Country
Table 84. Brazil: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Payment Mode
Table 85. Brazil: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Components
Table 86. Brazil: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Industry Verticals
Table 87. Argentina: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Payment Mode
Table 88. Argentina: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Components
Table 89. Argentina: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Industry Verticals
Table 90. Rest of South and Central America: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Payment Mode
Table 91. Rest of South and Central America: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Components
Table 92. Rest of South and Central America: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million) – by Industry Verticals
Table 93. Heat Map Analysis by Key Players
Table 94. List of Abbreviation

LIST OF FIGURES

Figure 1. Contactless Payments Market Segmentation, by Geography
Figure 2. PEST Analysis
Figure 3. Impact Analysis of Drivers and Restraints
Figure 4. Contactless Payments Market Revenue (US$ Million), 2021–2031
Figure 5. Contactless Payments Market Share (%) – by Payment Mode (2023 and 2031)
Figure 6. Smartphones: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
Figure 7. Smart Cards: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
Figure 8. PoS Terminals: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
Figure 9. Others: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
Figure 10. Contactless Payments Market Share (%) – by Components (2023 and 2031)
Figure 11. Hardware: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
Figure 12. Solutions: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
Figure 13. Services: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
Figure 14. Contactless Payments Market Share (%) – by Industry Verticals (2023 and 2031)
Figure 15. Retail: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
Figure 16. Hospitality: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
Figure 17. Healthcare: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
Figure 18. Transportation and Logistics: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
Figure 19. Media and Entertainment: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
Figure 20. Others: Contactless Payments Market – Revenue and Forecast to 2031 (US$ Million)
Figure 21. Contactless Payments Market Breakdown by Region, 2023 and 2031 (%)
Figure 22. North America: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million)
Figure 23. North America: Contactless Payments Market Breakdown, by Payment Mode (2023 and 2031)
Figure 24. North America: Contactless Payments Market Breakdown, by Components (2023 and 2031)
Figure 25. North America: Contactless Payments Market Breakdown, by Industry Verticals (2023 and 2031)
Figure 26. North America: Contactless Payments Market Breakdown, by Key Countries, 2023 and 2031 (%)
Figure 27. United States: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million)
Figure 28. Canada: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million)
Figure 29. Mexico: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million)
Figure 30. Europe: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million)
Figure 31. Europe: Contactless Payments Market Breakdown, by Payment Mode (2023 and 2031)
Figure 32. Europe: Contactless Payments Market Breakdown, by Components (2023 and 2031)
Figure 33. Europe: Contactless Payments Market Breakdown, by Industry Verticals (2023 and 2031)
Figure 34. Europe: Contactless Payments Market Breakdown, by Key Countries, 2023 and 2031 (%)
Figure 35. Germany: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million)
Figure 36. United Kingdom: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million)
Figure 37. France: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million)
Figure 38. Italy: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million)
Figure 39. Russian Federation: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million)
Figure 40. Rest of Europe: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million)
Figure 41. Asia Pacific: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million)
Figure 42. Asia Pacific: Contactless Payments Market Breakdown, by Payment Mode (2023 and 2031)
Figure 43. Asia Pacific: Contactless Payments Market Breakdown, by Components (2023 and 2031)
Figure 44. Asia Pacific: Contactless Payments Market Breakdown, by Industry Verticals (2023 and 2031)
Figure 45. Asia Pacific: Contactless Payments Market Breakdown, by Key Countries, 2023 and 2031 (%)
Figure 46. Australia: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million)
Figure 47. China: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million)
Figure 48. India: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million)
Figure 49. Japan: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million)
Figure 50. South Korea: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million)
Figure 51. Rest of APAC: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million)
Figure 52. Middle East and Africa: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million)
Figure 53. Middle East and Africa: Contactless Payments Market Breakdown, by Payment Mode (2023 and 2031)
Figure 54. Middle East and Africa: Contactless Payments Market Breakdown, by Components (2023 and 2031)
Figure 55. Middle East and Africa: Contactless Payments Market Breakdown, by Industry Verticals (2023 and 2031)
Figure 56. Middle East and Africa: Contactless Payments Market Breakdown, by Key Countries, 2023 and 2031 (%)
Figure 57. South Africa: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million)
Figure 58. Saudi Arabia: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million)
Figure 59. United Arab Emirates: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million)
Figure 60. Rest of Middle East and Africa: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million)
Figure 61. South and Central America: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million)
Figure 62. South and Central America: Contactless Payments Market Breakdown, by Payment Mode (2023 and 2031)
Figure 63. South and Central America: Contactless Payments Market Breakdown, by Components (2023 and 2031)
Figure 64. South and Central America: Contactless Payments Market Breakdown, by Industry Verticals (2023 and 2031)
Figure 65. South and Central America: Contactless Payments Market Breakdown, by Key Countries, 2023 and 2031 (%)
Figure 66. Brazil: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million)
Figure 67. Argentina: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million)
Figure 68. Rest of South and Central America: Contactless Payments Market – Revenue and Forecast to 2031(US$ Million)
Figure 69. Company Positioning & Concentration

The List of Companies – Contactless Payments Market
o Thales SA
o Infineon Technologies AG 
o Ingenico Group SA
o Giesecke+Devrient GmbH 
o IDEMIA France SAS 
o PAX Technology
o SumUp Inc.
o Visa Inc
o Mastercard Inc 
o CPI Card Group Inc

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