Contactless POS Terminals Market | Top Drivers and Trends
Bluebird Inc., Fiserv Inc., Honeywell International Inc., Ingenico Group SA, NCR Corp., and Newland Payment Technology are some of the key market vendors
The Global Contactless POS terminals market is projected to grow by $ 5.55 billion, accelerating at a CAGR of almost 15.56% till 2024. The market is driven by factors such as increasing adoption of contactless payment software applications. The growing popularity of smartphones, has enable user access to various applications that aid in making payments through contactless POS terminals. Several smartphone manufacturers such as Apple Pay and Samsung Pay have already introduced their own applications that aid contactless payments. Mobile applications such as PayPal’s AndroidPay, Visa payWave, MasterCard PayPass, and Venmo App, use the credit card, debit card, and other payment data from e-wallets and integrate them with the NFC technology on smartphones to enable transactions at contactless POS terminals. Since these applications enable smarter, more secure, and faster payments, there is a growing adoption of these mobile apps. Apple Pay is already popular in several countries including the US, the UK, Switzerland, Canada, Russia, Australia, China, France, Hong Kong, Singapore, and Japan. With the rising popularity of these applications, the market will witness considerable growth.
In addition, introduction of IoT and NFC-based contactless payment wearable devices is a key trend that is expected to drive market growth. This research report delineates all the growth drivers that will boost market growth along with a detailed analysis of the market segments, trends and challenges that are likely to impact market growth. The objective of this research report is to equip clients with actionable insights that will help them leverage opportunities and formulate growth strategies for their business.
Request for our free sample report for more market insights: Download FREE Sample Report
Contactless POS Terminals Market: Segments and Geographical Regions
- This report segments the market End-user (retail and hospitality) and Geography (APAC, North America, Europe, South America, and MEA).
- 47% of the market growth will originate from APAC during the forecast period. India, and Japan are the key markets for contactless POS terminals in APAC. Market growth in this region will be faster than the growth of the market in other regions due to the increased adoption of contactless payment methods.
- This research report will provide insights into the current market share of each segment along with growth projections for the next five years. Request our Free Sample Report
Contactless POS Terminals Market: Vendor Analysis
- The market is fragmented due to the presence of several players.
- The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value proPOSitions.
- Bluebird Inc., Fiserv Inc., Honeywell International Inc., Ingenico Group SA, NCR Corp., Newland Payment Technology, PAX Global Technology Ltd., Spire Payments Ltd., SZZT Electronics Shenzhen Co. Ltd. , and VeriFone Inc. are some of the major market participants.
Market Segmentation by End-user
-
- Contactless POS Terminals Market Split by End-user
- Contactless POS Terminals Market Split by Geography
- APAC
- North America
- Europe
- South America
- MEA
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2020-2025
- MEA - Market size and forecast 2020-2025
- Europe - Market size and forecast 2020-2025
- North America - Market size and forecast 2020-2025
- South America - Market size and forecast 2020-2025
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Competitive scenario
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Bluebird Inc.
- Fiserv Inc.
- Honeywell International Inc.
- Ingenico Group SA
- NCR Corp.
- Newland Payment Technology
- PAX Global Technology Ltd.
- Spire Payments Ltd.
- SZZT Electronics Shenzhen Co. Ltd.
- VeriFone Inc.
Technavio also offers custom research reports with detailed insights assessing the market from a global as well as regional perspective. This customized report will help clients keep up with new product launches in direct & indirect or related markets. It will also provide insights on upcoming developments along with a pipeline analysis of vendor operations and the impact of government regulations. For more insights on this market: Download a Free Sample Report
The report provides insights into the following FAQs:
- What is the market CAGR?
The market will accelerate at a CAGR of almost 15.56%.
- What is the incremental growth of the market?
The market is expected to grow by $ 5.55 billion through 2020-2024.
- What is a key factor driving this market?
Increasing adoption of contactless payment software applications will drive market growth over the forecast period.
- What are the key regions covered in this market research report?
APAC, North America, Europe, South America, and MEA are the key regions featured in this research report.
- Which is the leading geographic region for this market:
47% growth will originate from APAC
- Who are the leading market vendors?
The leading vendors in this market are Bluebird Inc., Fiserv Inc., Honeywell International Inc., Ingenico Group SA, NCR Corp., Newland Payment Technology, PAX Global Technology Ltd., Spire Payments Ltd., SZZT Electronics Shenzhen Co. Ltd. , and VeriFone Inc.
- What are the market segments covered in this report?
The market is segmented by End-user (retail and hospitality) and Geography (APAC, North America, Europe, South America, and MEA)
