Market Overview:
The global mobile contactless payments market is expected to grow at a CAGR of over 25% during the forecast period from 2018 to 2030. The increasing demand for convenience and security are the major factors driving the growth of this market. In addition, the growing adoption of smartphones and other mobile devices is also contributing to the growth of this market. The global mobile contactless payments market can be segmented on the basis of type, application, and region. On the basis of type, it can be divided into iOS system and Android system. The iOS system segment is expected to hold a dominant share in this market during the forecast period owing to its high adoption rate among consumers. By application, it can be classified into BFSI, retail, IT & telecoms transportation Hospitality government Others . Among these applications segments , BFSI is projected to witness highest CAGR during 2018-2030 owing rising use cases in developed countries such as U . S.
Product Definition:
A mobile contactless payment is a type of payment that allows customers to make purchases by waving their smartphones near a merchant's contactless reader.
The importance of mobile contactless payments is that they are faster and more convenient than traditional methods like cash or cards. They also offer increased security, as no personal information is shared between the customer and the merchant.
IOS System:
IOS system is used in mobile contactless payments for Near Field Communication (NFC). NFC is a wireless technology that enables the connection of devices, such as smartphones and tablets, to payment terminals using radio-frequency identification. The technology allows users to make contactless payments by tapping their devices against the payment terminal.
The global market size was valued at USD 3,787 million in 2014.
Android System:
Android System is a part of the Android OS that provides an operating system for mobile devices. It is an open source software development kit (SDK) based on the Linux kernel and a platform for third-party application developers who want to develop applications for mobile devices. The major function performed by this system includes contactless payments, which uses Near Field Communication (NFC) technology in smartphones to make electronic payments at Point of Sale (POS) terminals without any physical contact between payment terminal and consumer.
Application Insights:
The retail segment accounted for the largest market share in 2017 and is expected to continue its dominance over the forecast period. The growing adoption of contactless payment technology at retail stores has been a major factor contributing to its large share. Moreover, increasing investments by retailers for the installation of Contactless Payment Terminals (CTS) at their store-level has further accelerated growth. For instance, in November 2016, American Express Company announced about deploying more than 100 thousand new cards with embedded microchips and biometrics sensors across all its outlets globally. Such initiatives by companies have helped them gain a significant edge over their competitors in terms of convenience and user experience while making payments at stores or using mobile wallet applications.
The transportation segment is anticipated to register considerable growth during the forecast period owing to increased government spending on infrastructure development projects such as railway networks.
Regional Analysis:
The Asia Pacific region dominated the global market in 2017. The growth can be attributed to increasing smartphone penetration, technological advancements such as Near-field Communication (NFC) and contactless payments, and rising adoption of mobile commerce. Moreover, countries such as China are leading the regional market owing to a large number of players operating in this country. For instance, Alipay is operated by Ant Financial Services Group Limited which is an arm of Alibaba Group Holding Ltd., headquartered in China.
North America region followed Asia Pacific with a significant share due to growing popularity and usage of these systems among consumers for purchasing tickets at various places including movie theatres/theatres; sports events; concerts; train/flight reservations etc.; dining out at restaurants etc.; using them for paying utility bills instead of using cash or credit cards etc.; among others.
Growth Factors:
- Increasing demand for convenience and faster transactions: Contactless payments are fast, convenient and secure. This is driving their adoption among consumers, especially millennials who value speed and convenience.
- Proliferation of mobile devices and contactless technology: With the proliferation of mobile devices such as smartphones and tablets, and contactless technology such as NFC (near field communication), the market for mobile contactless payments is expected to grow rapidly in the coming years.
- Rising number of merchant acceptance points: The number of merchants accepting contactless payments is growing rapidly around the world as they recognize its benefits in terms of faster transactions and increased sales. This is helping to drive wider adoption of this payment method among consumers.
Scope Of The Report
Report Attributes
Report Details
Report Title
Mobile Contactless Payments Market Research Report
By Type
IOS System, Android System
By Application
BFSI, Retail, IT & Telecom, Transportation, Hospital, Government, Others
By Companies
Heartland Payment Systems, Oberthur Technologies, Ingenico Group, Verifone, Inside Secure, On Track Innovations, Cryptomathic, Wirecard, Giesecke & Devrient, Location Sciences, Gemalto
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
189
Number of Tables & Figures
133
Customization Available
Yes, the report can be customized as per your need.
Global Mobile Contactless Payments Market Report Segments:
The global Mobile Contactless Payments market is segmented on the basis of:
Types
IOS System, Android System
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
BFSI, Retail, IT & Telecom, Transportation, Hospital, Government, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Heartland Payment Systems
- Oberthur Technologies
- Ingenico Group
- Verifone
- Inside Secure
- On Track Innovations
- Cryptomathic
- Wirecard
- Giesecke & Devrient
- Location Sciences
- Gemalto
Highlights of The Mobile Contactless Payments Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- IOS System
- Android System
- By Application:
- BFSI
- Retail
- IT & Telecom
- Transportation
- Hospital
- Government
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Mobile Contactless Payments Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Mobile contactless payments are a way to pay for goods and services using your mobile phone. You can use this service to pay for items at a store, restaurant, or other business. This service is available through many different providers, so you can find one that works best for you.
Some of the major players in the mobile contactless payments market are Heartland Payment Systems, Oberthur Technologies, Ingenico Group, Verifone, Inside Secure, On Track Innovations, Cryptomathic, Wirecard, Giesecke & Devrient, Location Sciences, Gemalto.
The mobile contactless payments market is expected to grow at a compound annual growth rate of 25%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Mobile Contactless Payments Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Mobile Contactless Payments Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Mobile Contactless Payments Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Mobile Contactless Payments Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Mobile Contactless Payments Market Size & Forecast, 2018-2028
4.5.1 Mobile Contactless Payments Market Size and Y-o-Y Growth
4.5.2 Mobile Contactless Payments Market Absolute $ Opportunity
Chapter 5 Global Mobile Contactless Payments Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Mobile Contactless Payments Market Size Forecast by Type
5.2.1 IOS System
5.2.2 Android System
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Mobile Contactless Payments Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Mobile Contactless Payments Market Size Forecast by Applications
6.2.1 BFSI
6.2.2 Retail
6.2.3 IT & Telecom
6.2.4 Transportation
6.2.5 Hospital
6.2.6 Government
6.2.7 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Mobile Contactless Payments Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Mobile Contactless Payments Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Mobile Contactless Payments Analysis and Forecast
9.1 Introduction
9.2 North America Mobile Contactless Payments Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Mobile Contactless Payments Market Size Forecast by Type
9.6.1 IOS System
9.6.2 Android System
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Mobile Contactless Payments Market Size Forecast by Applications
9.10.1 BFSI
9.10.2 Retail
9.10.3 IT & Telecom
9.10.4 Transportation
9.10.5 Hospital
9.10.6 Government
9.10.7 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Mobile Contactless Payments Analysis and Forecast
10.1 Introduction
10.2 Europe Mobile Contactless Payments Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Mobile Contactless Payments Market Size Forecast by Type
10.6.1 IOS System
10.6.2 Android System
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Mobile Contactless Payments Market Size Forecast by Applications
10.10.1 BFSI
10.10.2 Retail
10.10.3 IT & Telecom
10.10.4 Transportation
10.10.5 Hospital
10.10.6 Government
10.10.7 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Mobile Contactless Payments Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Mobile Contactless Payments Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Mobile Contactless Payments Market Size Forecast by Type
11.6.1 IOS System
11.6.2 Android System
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Mobile Contactless Payments Market Size Forecast by Applications
11.10.1 BFSI
11.10.2 Retail
11.10.3 IT & Telecom
11.10.4 Transportation
11.10.5 Hospital
11.10.6 Government
11.10.7 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Mobile Contactless Payments Analysis and Forecast
12.1 Introduction
12.2 Latin America Mobile Contactless Payments Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Mobile Contactless Payments Market Size Forecast by Type
12.6.1 IOS System
12.6.2 Android System
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Mobile Contactless Payments Market Size Forecast by Applications
12.10.1 BFSI
12.10.2 Retail
12.10.3 IT & Telecom
12.10.4 Transportation
12.10.5 Hospital
12.10.6 Government
12.10.7 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Mobile Contactless Payments Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Mobile Contactless Payments Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Mobile Contactless Payments Market Size Forecast by Type
13.6.1 IOS System
13.6.2 Android System
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Mobile Contactless Payments Market Size Forecast by Applications
13.10.1 BFSI
13.10.2 Retail
13.10.3 IT & Telecom
13.10.4 Transportation
13.10.5 Hospital
13.10.6 Government
13.10.7 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Mobile Contactless Payments Market: Competitive Dashboard
14.2 Global Mobile Contactless Payments Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Heartland Payment Systems
14.3.2 Oberthur Technologies
14.3.3 Ingenico Group
14.3.4 Verifone
14.3.5 Inside Secure
14.3.6 On Track Innovations
14.3.7 Cryptomathic
14.3.8 Wirecard
14.3.9 Giesecke & Devrient
14.3.10 Location Sciences
14.3.11 Gemalto
