Market Overview:
The global next generation payment technology market is expected to grow at a CAGR of over 16% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for contactless payments and the growing trend of mobile payments. In addition, the increasing adoption of cloud-based technologies and big data is also contributing to the growth of this market. The global next generation payment technology market can be segmented on the basis of type into EMV chip, near field communication (NFC), magnetic secure transmission (MST), Bluetooth low energy (BLE), and quick response code (QR code). The NFC segment is expected to grow at a high CAGR during the forecast period from 2018 to 2030. This growth can be attributed to its ability to provide fast, secure, and convenient transactions. On the basis of application,the global next generation payment technologymarket can be divided into retail and commercial, enterprise, healthcare, hospitality, and others segments.
Product Definition:
Next Generation Payment Technology is a term used to describe a variety of technologies that aim to make payments faster, easier and more secure. These technologies can include everything from mobile payments to cryptocurrencies. The importance of Next Generation Payment Technologies lies in their ability to make payments simpler and more convenient for consumers, as well as reduce the risk of fraud.
EMV Chip:
EMV chip is a small computer chip embedded in the card. The technology helps to reduce frauds and counterfeiting of cards. It also improves payment security by making it difficult for hackers to replicate card data. Thus, increasing adoption of EMV chips in the global payment industry is expected to drive market growth over the forecast period. Additionally, growing demand from merchants for secure transactions and lower transaction costs may fuel market growth over the next few years.
Near Field Communication (NFC):
NFC is a wireless technology for communication between mobile devices and payment terminals. It enables the consumer to transfer data from the payment terminal using a mobile phone or personal digital assistant. The Next Generation Payment Technology (NGP) market is expected to witness significant growth over the forecast period owing to increasing penetration of smartphones, tablets, and other portable devices across all age groups globally.
Application Insights:
The retail and commercial application segment accounted for the largest revenue share of over 40% in 2017. The adoption of contactless payment technology, such as NFC and QR codes, is increasing rapidly across the retail sector owing to its ease of use. Moreover, retailers are able to reduce counter queues by enabling quick payment with next generation payments. The growing popularity of mobile shopping is also driving the demand for next generation payment technology among retailers.
The enterprise application segment is expected to witness significant growth over the forecast period owing to various benefits offered by these solutions, such as secure data transfer and easy-to-use applications that help users make secure purchases from remote locations or via mobile devices without having them installed locally on their computers or tablets.
Regional Analysis:
The Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The growth can be attributed to increasing adoption of contactless payment technologies such as EMV chip card, NFC, and others in China. In addition, growing smartphone penetration coupled with rising digitalization across various industry verticals including retail & consumer goods, transportation & logistics, business services has been fueling the regional market growth.
North America is anticipated to witness significant growth over the forecast period owing to increased focus on next generation payment technology by banks and financial institutions for improving security measures at POS terminals while processing transactions using contactless payments such as mobile wallets or tap-and-pay functionality using magnetic stripe cards at point of sale (PoS) terminals.
Growth Factors:
- Increasing demand for faster and more secure payment methods
- Rising number of online shoppers
- Proliferation of mobile devices and apps
- Growing acceptance of digital payments among consumers and merchants alike 5. Emergence of new payment technologies such as blockchain
Scope Of The Report
Report Attributes
Report Details
Report Title
Next Generation Payment Technology Market Research Report
By Type
EMV Chip, Near Field Communication (NFC), Magnetic Secure Transmission (MST), Bluetooth Low Energy (BLE), Quick Response Code (QR Code)
By Application
Retail and Commercial, Enterprise, Healthcare, Hospitality, Others
By Companies
Adyen, Alipay, Apple, Cayan LLC, Citrus, Dwolla, Equinox, First Data Corporation, Gemalto, Google, Ingenico, MFS Africa, MasterCard, NEC, Noire, Oberthur, PAX Technology, PayPal, Payfort
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
155
Number of Tables & Figures
109
Customization Available
Yes, the report can be customized as per your need.
Global Next Generation Payment Technology Market Report Segments:
The global Next Generation Payment Technology market is segmented on the basis of:
Types
EMV Chip, Near Field Communication (NFC), Magnetic Secure Transmission (MST), Bluetooth Low Energy (BLE), Quick Response Code (QR Code)
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
Retail and Commercial, Enterprise, Healthcare, Hospitality, 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:
- Adyen
- Alipay
- Apple
- Cayan LLC
- Citrus
- Dwolla
- Equinox
- First Data Corporation
- Gemalto
- Google
- Ingenico
- MFS Africa
- MasterCard
- NEC
- Noire
- Oberthur
- PAX Technology
- PayPal
- Payfort
Highlights of The Next Generation Payment Technology 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:
- EMV Chip
- Near Field Communication (NFC)
- Magnetic Secure Transmission (MST)
- Bluetooth Low Energy (BLE)
- Quick Response Code (QR Code)
- By Application:
- Retail and Commercial
- Enterprise
- Healthcare
- Hospitality
- 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 Next Generation Payment Technology 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?
Next Generation Payment Technology (NGPT) is a term used to describe the next generation of payment systems. NGPT systems are designed to improve the speed, security, and efficiency of payments. They can also help reduce costs for businesses and consumers. NGPT systems can be used in a variety of ways, including online payments, mobile payments, and peer-to-peer transactions.
Some of the key players operating in the next generation payment technology market are Adyen, Alipay, Apple, Cayan LLC, Citrus, Dwolla, Equinox, First Data Corporation, Gemalto, Google, Ingenico, MFS Africa, MasterCard, NEC, Noire, Oberthur, PAX Technology, PayPal, Payfort.
The next generation payment technology market is expected to register a CAGR of 16%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Next Generation Payment Technology 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 Next Generation Payment Technology Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Next Generation Payment Technology 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 Next Generation Payment Technology 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 Next Generation Payment Technology Market Size & Forecast, 2020-2028
4.5.1 Next Generation Payment Technology Market Size and Y-o-Y Growth
4.5.2 Next Generation Payment Technology Market Absolute $ Opportunity
Chapter 5 Global 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 Market Size Forecast by Type
5.2.1 EMV Chip
5.2.2 Near Field Communication (NFC)
5.2.3 Magnetic Secure Transmission (MST)
5.2.4 Bluetooth Low Energy (BLE)
5.2.5 Quick Response Code (QR Code)
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global 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 Market Size Forecast by Applications
6.2.1 Retail and Commercial
6.2.2 Enterprise
6.2.3 Healthcare
6.2.4 Hospitality
6.2.5 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Next Generation Payment Technology 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 Next Generation Payment Technology 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 Analysis and Forecast
9.1 Introduction
9.2 North America 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 Market Size Forecast by Type
9.6.1 EMV Chip
9.6.2 Near Field Communication (NFC)
9.6.3 Magnetic Secure Transmission (MST)
9.6.4 Bluetooth Low Energy (BLE)
9.6.5 Quick Response Code (QR Code)
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 Market Size Forecast by Applications
9.10.1 Retail and Commercial
9.10.2 Enterprise
9.10.3 Healthcare
9.10.4 Hospitality
9.10.5 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 Analysis and Forecast
10.1 Introduction
10.2 Europe 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 Market Size Forecast by Type
10.6.1 EMV Chip
10.6.2 Near Field Communication (NFC)
10.6.3 Magnetic Secure Transmission (MST)
10.6.4 Bluetooth Low Energy (BLE)
10.6.5 Quick Response Code (QR Code)
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 Market Size Forecast by Applications
10.10.1 Retail and Commercial
10.10.2 Enterprise
10.10.3 Healthcare
10.10.4 Hospitality
10.10.5 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 Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific 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 Market Size Forecast by Type
11.6.1 EMV Chip
11.6.2 Near Field Communication (NFC)
11.6.3 Magnetic Secure Transmission (MST)
11.6.4 Bluetooth Low Energy (BLE)
11.6.5 Quick Response Code (QR Code)
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 Market Size Forecast by Applications
11.10.1 Retail and Commercial
11.10.2 Enterprise
11.10.3 Healthcare
11.10.4 Hospitality
11.10.5 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 Analysis and Forecast
12.1 Introduction
12.2 Latin America 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 Market Size Forecast by Type
12.6.1 EMV Chip
12.6.2 Near Field Communication (NFC)
12.6.3 Magnetic Secure Transmission (MST)
12.6.4 Bluetooth Low Energy (BLE)
12.6.5 Quick Response Code (QR Code)
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 Market Size Forecast by Applications
12.10.1 Retail and Commercial
12.10.2 Enterprise
12.10.3 Healthcare
12.10.4 Hospitality
12.10.5 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) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) 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) Market Size Forecast by Type
13.6.1 EMV Chip
13.6.2 Near Field Communication (NFC)
13.6.3 Magnetic Secure Transmission (MST)
13.6.4 Bluetooth Low Energy (BLE)
13.6.5 Quick Response Code (QR Code)
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) Market Size Forecast by Applications
13.10.1 Retail and Commercial
13.10.2 Enterprise
13.10.3 Healthcare
13.10.4 Hospitality
13.10.5 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 Next Generation Payment Technology Market: Competitive Dashboard
14.2 Global Next Generation Payment Technology Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Adyen
14.3.2 Alipay
14.3.3 Apple
14.3.4 Cayan LLC
14.3.5 Citrus
14.3.6 Dwolla
14.3.7 Equinox
14.3.8 First Data Corporation
14.3.9 Gemalto
14.3.10 Google
14.3.11 Ingenico
14.3.12 MFS Africa
14.3.13 MasterCard
14.3.14 NEC
14.3.15 Noire
14.3.16 Oberthur
14.3.17 PAX Technology
14.3.18 PayPal
14.3.19 Payfort
