Contactless Payment Market Led by Multi-Channel Payment & VAS Segment to Hit 21.2% CAGR to 2021

The contactless payment market is to grow from USD 6.70 billion in 2016 to USD 17.56 billion by 2021, at a CAGR of 21.2% driven by increasing adoption of contactless payment technology in mobile handsets & wearables, ease of integration of technology with existing cards.

The contactless payment market has been segmented into solutions, services, payment mode, and verticals. Mobile handsets as payment mode and healthcare segments are projected to grow at a high growth rate; hence, will present good market opportunities during the forecast period. Multi-channel payment and value-added services hold a major share in the contactless payment services segment. The increasing integration of contactless payment technologies in different industries is considered as the primary driver influencing the growth of the contactless payment services market.

Complete report on global contactless payment market spread across 146 pages, profiling 10 companies and supported with 69 tables and 48 figures is now available .

In 2016, payment terminal solution is expected to dominate the contactless payment solutions market due to the increasing support and assistance required by the merchants who are readily deploying the contactless payment terminals in the businesses to support contactless payment transactions. Healthcare is the fastest-growing vertical due to increasing adoption of contactless technology for bill payments in hospitals. Professional services commands the major share in contactless payment services market as these services are necessary for the successful implementation of contactless payment platforms and technologies.

Europe is expected to hold the largest market share of the contactless payment market in 2016 due to technological advancements and increasing contactless smart card roll-outs. APAC is expected to have the highest growth rate during the forecast period due to the increasing number of contactless payment technology enabled smart phones in countries such as China, Australia, Japan, and India.

The various key contactless payment vendors profiled in this report such as Gemalto N.V., Giesecke & Devrient GmbH, Ingenico Group, Verifone Systems Inc., Wirecard AG, Heartland Payment Systems Inc., INSIDE Secure, OTI, Oberthur Technologies SA and Proxama PLC. Request a discount on Contactless Payment Market by Solution (Payment Terminal, Mobile Payment, Transaction & Data Management, Security and Fraud Management), Service (Professional, Managed), Payment Mode (Mobile Handsets, Smart Cards), Vertical - Global Forecast to 2021 research report at .

In the process of determining and verifying, the global contactless payment market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (35%), Tier 2 (45%) and Tier 3 (20%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-Level (35%), Directors Level (25%) and others (40%) from various key organizations operating in the global contactless payment market. The primary interviews were conducted worldwide covering regions such as North America (45%), Europe (20%), Asia-Pacific (30%) and ROW (5%).

On a related note, another research on Mobile Money Market Global Forecast to 2021 says, indispensable requirement to have ubiquitous access to financial solutions is driving the mobile money market. By location, remote payments dominate the mobile money market during the forecast period. The market size is estimated to grow from USD 21.15 billion in 2016 to USD 112.29 billion by 2021, at an estimated CAGR of 39.64% from 2016 to 2021. Companies like Vodafone Group Plc, Gemalto, FIS, Google Inc., Mastercard Incorporated, Bharti Airtel Limited, Orange S.A., Monitise Plc, Mahindra Comviva and PayPal have been profiled in this 180 pages research report available at .

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