Contactless Payment Market Size, Growth, Industry Report 2035
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Contactless Payment Market 2025 - 2035 Segmental Data Insights The mobile devices (smartphones using NFC or QR-based apps) segment accounts for approximately 45% of the global contactless payment market in 2025, as digital wallets and QR-based payments accelerate usage across emerging markets Demand Trends Increased adoption of digital wallets - consumers are increasingly using digital wallets for both online and in-store purchases

Report Code: ITM-98706  |  Published in: October, 2025, By MarketGenics  |  Number of pages: 420
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Global Contactless Payment Market Forecast 2035

According to the report, the global contactless payment market is likely to grow from USD 13.2 Billion in 2025 to USD 34.1 Billion in 2035 at a highest CAGR of 9.0% during the time period. The contactless payment market in the world is experiencing a robust growth due to the high rate of accepting digital wallets, NFC-powered cards and mobile based payment solution that can give the convenience and fast speed coupled with improved security. Contactless payments are now the new reality in the retail, transportation, and hospitality industry due to an increased consumption of cashless transactions which are increased by the COVID-19 pandemic. Banks and other fintech providers are investing a lot in new payment technologies, and regulators in various parts of the world are actively advocating secure, standards-spanning identities to promote their use. Also, the growing usage of smartphones and wearables devices has expanded the concept of contactless transactions to not just retail but also peer-peer transfers and transport services. As an example, Mastercard and Visa have increased tap-to-pay systems around the world, whereas Apple Pay and Google Pay are increasing the use of mobile wallets. Expanding knowledge about hygiene and the necessity to have quick and frictionless checkout processes only add to the position of contactless payments as an essential force in the digital financial ecosystem.

“Key Driver, Restraint, and Growth Opportunity Shaping the Global Contactless Payment Market

One of the factors that have contributed significantly to the global contactless payment market is the increasing collaboration between internet of things (IoT) and smart devices and payment ecosystems. Connected homes, smartwatches, and fitness trackers are also gaining secure payment functions that can make transactions quicker and motivate people to pursue solutions that are contactless in their daily lives.

The main limitation is the disparity in developing infrastructures in emerging economies as the presence of few POS terminals and uneven merchant acceptance do not allow mass adoption of contactless payments. The rural or underbanked areas have small businesses that are not always technologically ready and hence they can hardly penetrate the market even though consumers show interest.

The growth of biometric authentication that includes fingerprints and facial recognition embedded in contactless cards and mobile wallets is a huge prospect. This promotion will not only increase the security of transactions and the confidence of the users in making such payments especially with high values but also will pave way to greater adoption in various fields such as healthcare, banking, and transportation.

Expansion of Global Contactless Payment Market

“Expansion of Global Contactless Payment Market Driven by Consumer Behavior, Retail Digitization, and Public Transit Adoption”

  • The growth of the contactless payment market around the world is also driven by the change in the preferences of the consumers to speed and convenience as it is claimed that contactless payments are 10 times faster than the traditional chip-and-PIN technologies. Recent industry findings indicate that over 70 percent of customers globally would want touch-free transactions after the pandemic forcing financial institutions and retailers to modernize payment systems. This attitude change supports the steady development of the world.
  • One of the crucial aspects is the increased speed of digitalization in the retail sector, in which online and offline sellers are implementing contactless-driven solutions. Large retailers like Walmart and Carrefour have implemented an NFC-based payment system which has facilitated quicker check out process and minimised operational points of bottlenecks. Such digitization of retail ecosystems does not only make the customer experience smoother but also prompts merchants to become loyal to contactless.
  • Moreover, contactless fare cards and mobile wallets are increasingly rearing their heads in the public transit systems of Europe, Asia, and Latin America to bring modernization in the collection of fares. Sharp increases in contactless ticketing have been recorded in cities such as London, Singapore, and Sao Paulo with transit authorities recording a doubledigit increase in NFC-based fare transactions. These massive rollouts are drivers of massive adoption in both developed and emerging markets.

Regional Analysis of Global Contactless Payment Market

  • Contactless payment demand in the Asia Pacific region is the highest, as mobile-first economies dominate and the number of digital ecosystems is expanding rapidly. Mobile wallet penetration is the highest in countries like China, India, or South Korea, and platforms like Alipay, WeChat Pay, or Paytm are changing how people conduct their daily transactions. The area is home to almost 60 percent of all mobile wallet users in the world and it is facilitated by government-backed projects such as India’s Unified Payments Interface (UPI) and the pilot of the digital yuan in China. Moreover, the age factor, a high smartphone penetration index, and the boom of e-commerce and super apps (ex: Grab and Gojek) continue to increase Asia Pacific as the biggest contactless payment consumer group.
  • The two ingredients of growth that are the most dominant in North America are the high rate of modernization of infrastructure and good uptake of contactless-enabled debit and credit cards by mainstream banks. The U.S. financial institution market has over 80 percent of new card issuances with contactless Ness capabilities, which are in line with the speed, safety and hygienic transactions that consumers desire. Moreover, the adoption is being accelerated by the combination of wearables (Apple Watch, Fitbit Pay) and loyalty-based mobile payment options offered by the retailers such as Starbucks and Walmart. As the volume of cross-border transactions and the need to use safe fintech solutions is increasing, North America has the fastest-growing regional market, even though payment infrastructure is already entirely developed.

Prominent players operating in the global contactless payment market are Adyen N.V., Alipay (Ant Group), Amazon Pay, American Express Company, Apple Inc., Barclays plc, Fiserv, Inc., Google LLC (Google Pay), Ingenico Group (Worldline), JPMorgan Chase & Co., Mastercard Incorporated, NCR Corporation, PayPal Holdings, Inc., Samsung Electronics Co., Ltd. (Samsung Pay), Square, Inc. (Block, Inc.), Stripe, Inc., Tencent Holdings Ltd. (WeChat Pay), Thales Group, Verifone Systems, Inc., Visa Inc., and Other Key Players.

The global contactless payment market has been segmented as follows:

Global Contactless Payment Market Analysis, by Component

  • Hardware
    • POS Terminals
    • NFC-enabled Devices
    • Smartcards
    • Others
  • Software
    • Payment Applications
    • Transaction Management Systems
    • Others
  • Services
    • Consulting
    • Integration & Deployment
    • Support & Maintenance
    • Others

Global Contactless Payment Market Analysis, by Payment Mode

  • Contactless Cards
    • Credit Cards
    • Debit Cards
    • Prepaid Cards
  • Wearables
    • Smartwatches
    • Fitness Bands
    • Others
  • Mobile Devices (Smartphones using NFC or QR-based apps)
  • Others

Global Contactless Payment Market Analysis, by Technology

  • Near Field Communication (NFC)
  • Radio Frequency Identification (RFID)
  • QR Code-Based Payments
  • Bluetooth Low Energy (BLE)
  • Others

Global Contactless Payment Market Analysis, by Transaction Type

Global Contactless Payment Market Analysis, by Application

  • Retail
  • Transportation (Transit Fare Payments, Toll Payments)
  • Healthcare
  • Hospitality
  • Banking & Financial Services
  • Government & Public Sector
  • Others

Global Contactless Payment Market Analysis, by End User

  • Individuals/Consumers
  • Enterprises (SMEs & Large Enterprises)
  • Government Organizations
  • Others

Global Contactless Payment Market Analysis, by Industrial Vertical

  • Retail & E-commerce
  • Telecommunications
  • Healthcare
  • Banking, Financial Services & Insurance (BFSI)
  • Transportation & Logistics
  • Entertainment & Media
  • Others

Global Contactless Payment Market Analysis, by Region

  • North America
  • Europe
  • Asia Pacific
  • Middle East
  • Africa
  • South America

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Table of Contents

  • 1. Research Methodology and Assumptions
    • 1.1. Definitions
    • 1.2. Research Design and Approach
    • 1.3. Data Collection Methods
    • 1.4. Base Estimates and Calculations
    • 1.5. Forecasting Models
      • 1.5.1. Key Forecast Factors & Impact Analysis
    • 1.6. Secondary Research
      • 1.6.1. Open Sources
      • 1.6.2. Paid Databases
      • 1.6.3. Associations
    • 1.7. Primary Research
      • 1.7.1. Primary Sources
      • 1.7.2. Primary Interviews with Stakeholders across Ecosystem
  • 2. Executive Summary
    • 2.1. Global Contactless Payment Market Outlook
      • 2.1.1. Contactless Payment Market Size (Value - US$ Billion), and Forecasts, 2021-2035
      • 2.1.2. Compounded Annual Growth Rate Analysis
      • 2.1.3. Growth Opportunity Analysis
      • 2.1.4. Segmental Share Analysis
      • 2.1.5. Geographical Share Analysis
    • 2.2. Market Analysis and Facts
    • 2.3. Supply-Demand Analysis
    • 2.4. Competitive Benchmarking
    • 2.5. Go-to-Market Strategy
      • 2.5.1. Customer/ End Use Industry Assessment
      • 2.5.2. Growth Opportunity Data, 2025-2035
        • 2.5.2.1. Regional Data
        • 2.5.2.2. Country Data
        • 2.5.2.3. Segmental Data
      • 2.5.3. Identification of Potential Market Spaces
      • 2.5.4. GAP Analysis
      • 2.5.5. Potential Attractive Price Points
      • 2.5.6. Prevailing Market Risks & Challenges
      • 2.5.7. Preferred Sales & Marketing Strategies
      • 2.5.8. Key Recommendations and Analysis
      • 2.5.9. A Way Forward
  • 3. Industry Data and Premium Insights
    • 3.1. Global Information Technology & Media Overview, 2025
      • 3.1.1. Industry Ecosystem Analysis
      • 3.1.2. Key Trends for Information Technology & Media Industry
      • 3.1.3. Regional Distribution for Information Technology & Media
    • 3.2. Supplier Customer Data
    • 3.3. Technology Roadmap and Developments
  • 4. Market Overview
    • 4.1. Market Dynamics
      • 4.1.1. Drivers
        • 4.1.1.1. Increasing adoption of NFC-enabled smartphones and digital wallets empowers seamless contactless transactions
        • 4.1.1.2. Consumer demand for speed & convenience
        • 4.1.1.3. Pandemic‑driven hygiene preferences
      • 4.1.2. Restraints
        • 4.1.2.1. Fears of data breaches, unauthorized transactions, and perceived PIN-less vulnerabilities hinder consumer trust.
    • 4.2. Key Trend Analysis
    • 4.3. Regulatory Framework
      • 4.3.1. Key Regulations, Norms, and Subsidies, by Key Countries
      • 4.3.2. Tariffs and Standards
      • 4.3.3. Impact Analysis of Regulations on the Market
    • 4.4. Value Chain Analysis/ Ecosystem Analysis
      • 4.4.1. Technology Providers
      • 4.4.2. Device & Card Manufacturers
      • 4.4.3. Payment Network Operators
      • 4.4.4. End Users & Merchants
    • 4.5. Cost Structure Analysis
      • 4.5.1. Parameter’s Share for Cost Associated
      • 4.5.2. COGP vs COGS
      • 4.5.3. Profit Margin Analysis
    • 4.6. Porter’s Five Forces Analysis
    • 4.7. PESTEL Analysis
    • 4.8. Global Contactless Payment Market Demand
      • 4.8.1. Historical Market Size - in Value (Value - US$ Billion), 2021-2024
      • 4.8.2. Current and Future Market Size - in Value (Value - US$ Billion), 2025–2035
        • 4.8.2.1. Y-o-Y Growth Trends
        • 4.8.2.2. Absolute $ Opportunity Assessment
  • 5. Competition Landscape
    • 5.1. Competition structure
      • 5.1.1. Fragmented v/s consolidated
    • 5.2. Company Share Analysis, 2025
      • 5.2.1. Global Company Market Share
      • 5.2.2. By Region
        • 5.2.2.1. North America
        • 5.2.2.2. Europe
        • 5.2.2.3. Asia Pacific
        • 5.2.2.4. Middle East
        • 5.2.2.5. Africa
        • 5.2.2.6. South America
    • 5.3. Product Comparison Matrix
      • 5.3.1. Specifications
      • 5.3.2. Market Positioning
      • 5.3.3. Pricing
  • 6. Global Contactless Payment Market Analysis, by Component
    • 6.1. Key Segment Analysis
    • 6.2. Contactless Payment Market Size (Value - US$ Billion), Analysis, and Forecasts, by Component, 2021-2035
      • 6.2.1. Hardware
        • 6.2.1.1. POS Terminals
        • 6.2.1.2. NFC-enabled Devices
        • 6.2.1.3. Smartcards
        • 6.2.1.4. Others
      • 6.2.2. Software
        • 6.2.2.1. Payment Applications
        • 6.2.2.2. Transaction Management Systems
        • 6.2.2.3. Others
      • 6.2.3. Services
        • 6.2.3.1. Consulting
        • 6.2.3.2. Integration & Deployment
        • 6.2.3.3. Support & Maintenance
        • 6.2.3.4. Others
  • 7. Global Contactless Payment Market Analysis, by Payment Mode
    • 7.1. Key Segment Analysis
    • 7.2. Contactless Payment Market Size (Value - US$ Billion), Analysis, and Forecasts, by Payment Mode, 2021-2035
      • 7.2.1. Contactless Cards
        • 7.2.1.1. Credit Cards
        • 7.2.1.2. Debit Cards
        • 7.2.1.3. Prepaid Cards
      • 7.2.2. Wearables
        • 7.2.2.1. Smartwatches
        • 7.2.2.2. Fitness Bands
        • 7.2.2.3. Others
      • 7.2.3. Mobile Devices (Smartphones using NFC or QR-based apps)
      • 7.2.4. Others
  • 8. Global Contactless Payment Market Analysis, by Technology
    • 8.1. Key Segment Analysis
    • 8.2. Contactless Payment Market Size (Value - US$ Billion), Analysis, and Forecasts, by Technology, 2021-2035
      • 8.2.1. Near Field Communication (NFC)
      • 8.2.2. Radio Frequency Identification (RFID)
      • 8.2.3. QR Code-Based Payments
      • 8.2.4. Bluetooth Low Energy (BLE)
      • 8.2.5. Others
  • 9. Global Contactless Payment Market Analysis, by Transaction Type
    • 9.1. Key Segment Analysis
    • 9.2. Contactless Payment Market Size (Value - US$ Billion), Analysis, and Forecasts, by Transaction Type, 2021-2035
      • 9.2.1. Peer-to-Peer (P2P)
      • 9.2.2. Customer-to-Business (C2B)
      • 9.2.3. Business-to-Business (B2B)
  • 10. Global Contactless Payment Market Analysis, by Application
    • 10.1. Key Segment Analysis
    • 10.2. Contactless Payment Market Size (Value - US$ Billion), Analysis, and Forecasts, by Application, 2021-2035
      • 10.2.1. Retail
      • 10.2.2. Transportation (Transit Fare Payments, Toll Payments)
      • 10.2.3. Healthcare
      • 10.2.4. Hospitality
      • 10.2.5. Banking & Financial Services
      • 10.2.6. Government & Public Sector
      • 10.2.7. Others
  • 11. Global Contactless Payment Market Analysis, by End User
    • 11.1. Key Segment Analysis
    • 11.2. Contactless Payment Market Size (Value - US$ Billion), Analysis, and Forecasts, by End User, 2021-2035
      • 11.2.1. Individuals/Consumers
      • 11.2.2. Enterprises (SMEs & Large Enterprises)
      • 11.2.3. Government Organizations
      • 11.2.4. Others
  • 12. Global Contactless Payment Market Analysis, by Industry Vertical
    • 12.1. Key Segment Analysis
    • 12.2. Contactless Payment Market Size (Value - US$ Billion), Analysis, and Forecasts, by Industry Vertical, 2021-2035
      • 12.2.1. Retail & E-commerce
      • 12.2.2. Telecommunications
      • 12.2.3. Healthcare
      • 12.2.4. Banking, Financial Services & Insurance (BFSI)
      • 12.2.5. Transportation & Logistics
      • 12.2.6. Entertainment & Media
      • 12.2.7. Others
  • 13. Global Contactless Payment Market Analysis and Forecasts, by Region
    • 13.1. Key Findings
    • 13.2. Contactless Payment Market Size (Value - US$ Billion), Analysis, and Forecasts, by Region, 2021-2035
      • 13.2.1. North America
      • 13.2.2. Europe
      • 13.2.3. Asia Pacific
      • 13.2.4. Middle East
      • 13.2.5. Africa
      • 13.2.6. South America
  • 14. North America Contactless Payment Market Analysis
    • 14.1. Key Segment Analysis
    • 14.2. Regional Snapshot
    • 14.3. North America Contactless Payment Market Size Value - US$ Billion), Analysis, and Forecasts, 2021-2035
      • 14.3.1. Component
      • 14.3.2. Payment Mode
      • 14.3.3. Technology
      • 14.3.4. Transaction Type
      • 14.3.5. Application
      • 14.3.6. End User
      • 14.3.7. Industry Vertical
      • 14.3.8. Country
        • 14.3.8.1. USA
        • 14.3.8.2. Canada
        • 14.3.8.3. Mexico
    • 14.4. USA Contactless Payment Market
      • 14.4.1. Country Segmental Analysis
      • 14.4.2. Component
      • 14.4.3. Payment Mode
      • 14.4.4. Technology
      • 14.4.5. Transaction Type
      • 14.4.6. Application
      • 14.4.7. End User
      • 14.4.8. Industry Vertical
    • 14.5. Canada Contactless Payment Market
      • 14.5.1. Country Segmental Analysis
      • 14.5.2. Component
      • 14.5.3. Payment Mode
      • 14.5.4. Technology
      • 14.5.5. Transaction Type
      • 14.5.6. Application
      • 14.5.7. End User
      • 14.5.8. Industry Vertical
    • 14.6. Mexico Contactless Payment Market
      • 14.6.1. Country Segmental Analysis
      • 14.6.2. Component
      • 14.6.3. Payment Mode
      • 14.6.4. Technology
      • 14.6.5. Transaction Type
      • 14.6.6. Application
      • 14.6.7. End User
      • 14.6.8. Industry Vertical
  • 15. Europe Contactless Payment Market Analysis
    • 15.1. Key Segment Analysis
    • 15.2. Regional Snapshot
    • 15.3. Europe Contactless Payment Market Size (Value - US$ Billion), Analysis, and Forecasts, 2021-2035
      • 15.3.1. Component
      • 15.3.2. Payment Mode
      • 15.3.3. Technology
      • 15.3.4. Transaction Type
      • 15.3.5. Application
      • 15.3.6. End User
      • 15.3.7. Industry Vertical
      • 15.3.8. Country
        • 15.3.8.1. Germany
        • 15.3.8.2. United Kingdom
        • 15.3.8.3. France
        • 15.3.8.4. Italy
        • 15.3.8.5. Spain
        • 15.3.8.6. Netherlands
        • 15.3.8.7. Nordic Countries
        • 15.3.8.8. Poland
        • 15.3.8.9. Russia & CIS
        • 15.3.8.10. Rest of Europe
    • 15.4. Germany Contactless Payment Market
      • 15.4.1. Country Segmental Analysis
      • 15.4.2. Component
      • 15.4.3. Payment Mode
      • 15.4.4. Technology
      • 15.4.5. Transaction Type
      • 15.4.6. Application
      • 15.4.7. End User
      • 15.4.8. Industry Vertical
    • 15.5. United Kingdom Contactless Payment Market
      • 15.5.1. Country Segmental Analysis
      • 15.5.2. Component
      • 15.5.3. Payment Mode
      • 15.5.4. Technology
      • 15.5.5. Transaction Type
      • 15.5.6. Application
      • 15.5.7. End User
      • 15.5.8. Industry Vertical
    • 15.6. France Contactless Payment Market
      • 15.6.1. Country Segmental Analysis
      • 15.6.2. Component
      • 15.6.3. Payment Mode
      • 15.6.4. Technology
      • 15.6.5. Transaction Type
      • 15.6.6. Application
      • 15.6.7. End User
      • 15.6.8. Industry Vertical
    • 15.7. Italy Contactless Payment Market
      • 15.7.1. Country Segmental Analysis
      • 15.7.2. Component
      • 15.7.3. Payment Mode
      • 15.7.4. Technology
      • 15.7.5. Transaction Type
      • 15.7.6. Application
      • 15.7.7. End User
      • 15.7.8. Industry Vertical
    • 15.8. Spain Contactless Payment Market
      • 15.8.1. Country Segmental Analysis
      • 15.8.2. Component
      • 15.8.3. Payment Mode
      • 15.8.4. Technology
      • 15.8.5. Transaction Type
      • 15.8.6. Application
      • 15.8.7. End User
      • 15.8.8. Industry Vertical
    • 15.9. Netherlands Contactless Payment Market
      • 15.9.1. Country Segmental Analysis
      • 15.9.2. Component
      • 15.9.3. Payment Mode
      • 15.9.4. Technology
      • 15.9.5. Transaction Type
      • 15.9.6. Application
      • 15.9.7. End User
      • 15.9.8. Industry Vertical
    • 15.10. Nordic Countries Contactless Payment Market
      • 15.10.1. Country Segmental Analysis
      • 15.10.2. Component
      • 15.10.3. Payment Mode
      • 15.10.4. Technology
      • 15.10.5. Transaction Type
      • 15.10.6. Application
      • 15.10.7. End User
      • 15.10.8. Industry Vertical
    • 15.11. Poland Contactless Payment Market
      • 15.11.1. Country Segmental Analysis
      • 15.11.2. Component
      • 15.11.3. Payment Mode
      • 15.11.4. Technology
      • 15.11.5. Transaction Type
      • 15.11.6. Application
      • 15.11.7. End User
      • 15.11.8. Industry Vertical
    • 15.12. Russia & CIS Contactless Payment Market
      • 15.12.1. Country Segmental Analysis
      • 15.12.2. Component
      • 15.12.3. Payment Mode
      • 15.12.4. Technology
      • 15.12.5. Transaction Type
      • 15.12.6. Application
      • 15.12.7. End User
      • 15.12.8. Industry Vertical
    • 15.13. Rest of Europe Contactless Payment Market
      • 15.13.1. Country Segmental Analysis
      • 15.13.2. Component
      • 15.13.3. Payment Mode
      • 15.13.4. Technology
      • 15.13.5. Transaction Type
      • 15.13.6. Application
      • 15.13.7. End User
      • 15.13.8. Industry Vertical
  • 16. Asia Pacific Contactless Payment Market Analysis
    • 16.1. Key Segment Analysis
    • 16.2. Regional Snapshot
    • 16.3. East Asia Contactless Payment Market Size (Value - US$ Billion), Analysis, and Forecasts, 2021-2035
      • 16.3.1. Component
      • 16.3.2. Payment Mode
      • 16.3.3. Technology
      • 16.3.4. Transaction Type
      • 16.3.5. Application
      • 16.3.6. End User
      • 16.3.7. Industry Vertical
      • 16.3.8. Country
        • 16.3.8.1. China
        • 16.3.8.2. India
        • 16.3.8.3. Japan
        • 16.3.8.4. South Korea
        • 16.3.8.5. Australia and New Zealand
        • 16.3.8.6. Indonesia
        • 16.3.8.7. Malaysia
        • 16.3.8.8. Thailand
        • 16.3.8.9. Vietnam
        • 16.3.8.10. Rest of Asia Pacific
    • 16.4. China Contactless Payment Market
      • 16.4.1. Country Segmental Analysis
      • 16.4.2. Component
      • 16.4.3. Payment Mode
      • 16.4.4. Technology
      • 16.4.5. Transaction Type
      • 16.4.6. Application
      • 16.4.7. End User
      • 16.4.8. Industry Vertical
    • 16.5. India Contactless Payment Market
      • 16.5.1. Country Segmental Analysis
      • 16.5.2. Component
      • 16.5.3. Payment Mode
      • 16.5.4. Technology
      • 16.5.5. Transaction Type
      • 16.5.6. Application
      • 16.5.7. End User
      • 16.5.8. Industry Vertical
    • 16.6. Japan Contactless Payment Market
      • 16.6.1. Country Segmental Analysis
      • 16.6.2. Component
      • 16.6.3. Payment Mode
      • 16.6.4. Technology
      • 16.6.5. Transaction Type
      • 16.6.6. Application
      • 16.6.7. End User
      • 16.6.8. Industry Vertical
    • 16.7. South Korea Contactless Payment Market
      • 16.7.1. Country Segmental Analysis
      • 16.7.2. Component
      • 16.7.3. Payment Mode
      • 16.7.4. Technology
      • 16.7.5. Transaction Type
      • 16.7.6. Application
      • 16.7.7. End User
      • 16.7.8. Industry Vertical
    • 16.8. Australia and New Zealand Contactless Payment Market
      • 16.8.1. Country Segmental Analysis
      • 16.8.2. Component
      • 16.8.3. Payment Mode
      • 16.8.4. Technology
      • 16.8.5. Transaction Type
      • 16.8.6. Application
      • 16.8.7. End User
      • 16.8.8. Industry Vertical
    • 16.9. Indonesia Contactless Payment Market
      • 16.9.1. Country Segmental Analysis
      • 16.9.2. Component
      • 16.9.3. Payment Mode
      • 16.9.4. Technology
      • 16.9.5. Transaction Type
      • 16.9.6. Application
      • 16.9.7. End User
      • 16.9.8. Industry Vertical
    • 16.10. Malaysia Contactless Payment Market
      • 16.10.1. Country Segmental Analysis
      • 16.10.2. Component
      • 16.10.3. Payment Mode
      • 16.10.4. Technology
      • 16.10.5. Transaction Type
      • 16.10.6. Application
      • 16.10.7. End User
      • 16.10.8. Industry Vertical
    • 16.11. Thailand Contactless Payment Market
      • 16.11.1. Country Segmental Analysis
      • 16.11.2. Component
      • 16.11.3. Payment Mode
      • 16.11.4. Technology
      • 16.11.5. Transaction Type
      • 16.11.6. Application
      • 16.11.7. End User
      • 16.11.8. Industry Vertical
    • 16.12. Vietnam Contactless Payment Market
      • 16.12.1. Country Segmental Analysis
      • 16.12.2. Component
      • 16.12.3. Payment Mode
      • 16.12.4. Technology
      • 16.12.5. Transaction Type
      • 16.12.6. Application
      • 16.12.7. End User
      • 16.12.8. Industry Vertical
    • 16.13. Rest of Asia Pacific Contactless Payment Market
      • 16.13.1. Country Segmental Analysis
      • 16.13.2. Component
      • 16.13.3. Payment Mode
      • 16.13.4. Technology
      • 16.13.5. Transaction Type
      • 16.13.6. Application
      • 16.13.7. End User
      • 16.13.8. Industry Vertical
  • 17. Middle East Contactless Payment Market Analysis
    • 17.1. Key Segment Analysis
    • 17.2. Regional Snapshot
    • 17.3. Middle East Contactless Payment Market Size (Value - US$ Billion), Analysis, and Forecasts, 2021-2035
      • 17.3.1. Component
      • 17.3.2. Payment Mode
      • 17.3.3. Technology
      • 17.3.4. Transaction Type
      • 17.3.5. Application
      • 17.3.6. End User
      • 17.3.7. Industry Vertical
      • 17.3.8. Country
        • 17.3.8.1. Turkey
        • 17.3.8.2. UAE
        • 17.3.8.3. Saudi Arabia
        • 17.3.8.4. Israel
        • 17.3.8.5. Rest of Middle East
    • 17.4. Turkey Contactless Payment Market
      • 17.4.1. Country Segmental Analysis
      • 17.4.2. Component
      • 17.4.3. Payment Mode
      • 17.4.4. Technology
      • 17.4.5. Transaction Type
      • 17.4.6. Application
      • 17.4.7. End User
      • 17.4.8. Industry Vertical
    • 17.5. UAE Contactless Payment Market
      • 17.5.1. Country Segmental Analysis
      • 17.5.2. Component
      • 17.5.3. Payment Mode
      • 17.5.4. Technology
      • 17.5.5. Transaction Type
      • 17.5.6. Application
      • 17.5.7. End User
      • 17.5.8. Industry Vertical
    • 17.6. Saudi Arabia Contactless Payment Market
      • 17.6.1. Country Segmental Analysis
      • 17.6.2. Component
      • 17.6.3. Payment Mode
      • 17.6.4. Technology
      • 17.6.5. Transaction Type
      • 17.6.6. Application
      • 17.6.7. End User
      • 17.6.8. Industry Vertical
    • 17.7. Israel Contactless Payment Market
      • 17.7.1. Country Segmental Analysis
      • 17.7.2. Component
      • 17.7.3. Payment Mode
      • 17.7.4. Technology
      • 17.7.5. Transaction Type
      • 17.7.6. Application
      • 17.7.7. End User
      • 17.7.8. Industry Vertical
    • 17.8. Rest of Middle East Contactless Payment Market
      • 17.8.1. Country Segmental Analysis
      • 17.8.2. Component
      • 17.8.3. Payment Mode
      • 17.8.4. Technology
      • 17.8.5. Transaction Type
      • 17.8.6. Application
      • 17.8.7. End User
      • 17.8.8. Industry Vertical
  • 18. Africa Contactless Payment Market Analysis
    • 18.1. Key Segment Analysis
    • 18.2. Regional Snapshot
    • 18.3. Africa Contactless Payment Market Size (Value - US$ Billion), Analysis, and Forecasts, 2021-2035
      • 18.3.1. Component
      • 18.3.2. Payment Mode
      • 18.3.3. Technology
      • 18.3.4. Transaction Type
      • 18.3.5. Application
      • 18.3.6. End User
      • 18.3.7. Industry Vertical
      • 18.3.8. Country
        • 18.3.8.1. South Africa
        • 18.3.8.2. Egypt
        • 18.3.8.3. Nigeria
        • 18.3.8.4. Algeria
        • 18.3.8.5. Rest of Africa
    • 18.4. South Africa Contactless Payment Market
      • 18.4.1. Country Segmental Analysis
      • 18.4.2. Component
      • 18.4.3. Payment Mode
      • 18.4.4. Technology
      • 18.4.5. Transaction Type
      • 18.4.6. Application
      • 18.4.7. End User
      • 18.4.8. Industry Vertical
    • 18.5. Egypt Contactless Payment Market
      • 18.5.1. Country Segmental Analysis
      • 18.5.2. Component
      • 18.5.3. Payment Mode
      • 18.5.4. Technology
      • 18.5.5. Transaction Type
      • 18.5.6. Application
      • 18.5.7. End User
      • 18.5.8. Industry Vertical
    • 18.6. Nigeria Contactless Payment Market
      • 18.6.1. Country Segmental Analysis
      • 18.6.2. Component
      • 18.6.3. Payment Mode
      • 18.6.4. Technology
      • 18.6.5. Transaction Type
      • 18.6.6. Application
      • 18.6.7. End User
      • 18.6.8. Industry Vertical
    • 18.7. Algeria Contactless Payment Market
      • 18.7.1. Country Segmental Analysis
      • 18.7.2. Component
      • 18.7.3. Payment Mode
      • 18.7.4. Technology
      • 18.7.5. Transaction Type
      • 18.7.6. Application
      • 18.7.7. End User
      • 18.7.8. Industry Vertical
    • 18.8. Rest of Africa Contactless Payment Market
      • 18.8.1. Country Segmental Analysis
      • 18.8.2. Component
      • 18.8.3. Payment Mode
      • 18.8.4. Technology
      • 18.8.5. Transaction Type
      • 18.8.6. Application
      • 18.8.7. End User
      • 18.8.8. Industry Vertical
  • 19. South America Contactless Payment Market Analysis
    • 19.1. Key Segment Analysis
    • 19.2. Regional Snapshot
    • 19.3. Central and South Africa Contactless Payment Market Size (Value - US$ Billion), Analysis, and Forecasts, 2021-2035
      • 19.3.1. Component
      • 19.3.2. Payment Mode
      • 19.3.3. Technology
      • 19.3.4. Transaction Type
      • 19.3.5. Application
      • 19.3.6. End User
      • 19.3.7. Industry Vertical
      • 19.3.8. Country
        • 19.3.8.1. Brazil
        • 19.3.8.2. Argentina
        • 19.3.8.3. Rest of South America
    • 19.4. Brazil Contactless Payment Market
      • 19.4.1. Country Segmental Analysis
      • 19.4.2. Component
      • 19.4.3. Payment Mode
      • 19.4.4. Technology
      • 19.4.5. Transaction Type
      • 19.4.6. Application
      • 19.4.7. End User
      • 19.4.8. Industry Vertical
    • 19.5. Argentina Contactless Payment Market
      • 19.5.1. Country Segmental Analysis
      • 19.5.2. Component
      • 19.5.3. Payment Mode
      • 19.5.4. Technology
      • 19.5.5. Transaction Type
      • 19.5.6. Application
      • 19.5.7. End User
      • 19.5.8. Industry Vertical
    • 19.6. Rest of South America Contactless Payment Market
      • 19.6.1. Country Segmental Analysis
      • 19.6.2. Component
      • 19.6.3. Payment Mode
      • 19.6.4. Technology
      • 19.6.5. Transaction Type
      • 19.6.6. Application
      • 19.6.7. End User
      • 19.6.8. Industry Vertical
  • 20. Key Players/ Company Profile
    • 20.1. Adyen N.V.
      • 20.1.1. Company Details/ Overview
      • 20.1.2. Company Financials
      • 20.1.3. Key Customers and Competitors
      • 20.1.4. Business/ Industry Portfolio
      • 20.1.5. Product Portfolio/ Specification Details
      • 20.1.6. Pricing Data
      • 20.1.7. Strategic Overview
      • 20.1.8. Recent Developments
    • 20.2. Alipay (Ant Group)
    • 20.3. Amazon Pay
    • 20.4. American Express Company
    • 20.5. Apple Inc.
    • 20.6. Barclays plc
    • 20.7. Fiserv, Inc.
    • 20.8. Google LLC (Google Pay)
    • 20.9. Ingenico Group (Worldline)
    • 20.10. JPMorgan Chase & Co.
    • 20.11. Mastercard Incorporated
    • 20.12. NCR Corporation
    • 20.13. PayPal Holdings, Inc.
    • 20.14. Samsung Electronics Co., Ltd. (Samsung Pay)
    • 20.15. Square, Inc. (Block, Inc.)
    • 20.16. Stripe, Inc.
    • 20.17. Tencent Holdings Ltd. (WeChat Pay)
    • 20.18. Thales Group
    • 20.19. UnionPay
    • 20.20. Verifone Systems, Inc.
    • 20.21. Visa Inc.
    • 20.22. Other Key Players

 

Note* - This is just tentative list of players. While providing the report, we will cover a greater number of players based on their revenue and share for each geography

Research Design

Our research design integrates both demand-side and supply-side analysis through a balanced combination of primary and secondary research methodologies. By utilizing both bottom-up and top-down approaches alongside rigorous data triangulation methods, we deliver robust market intelligence that supports strategic decision-making.

MarketGenics' comprehensive research design framework ensures the delivery of accurate, reliable, and actionable market intelligence. Through the integration of multiple research approaches, rigorous validation processes, and expert analysis, we provide our clients with the insights needed to make informed strategic decisions and capitalize on market opportunities.

Research Design Graphic

MarketGenics leverages a dedicated industry panel of experts and a comprehensive suite of paid databases to effectively collect, consolidate, and analyze market intelligence.

Our approach has consistently proven to be reliable and effective in generating accurate market insights, identifying key industry trends, and uncovering emerging business opportunities.

Through both primary and secondary research, we capture and analyze critical company-level data such as manufacturing footprints, including technical centers, R&D facilities, sales offices, and headquarters.

Our expert panel further enhances our ability to estimate market size for specific brands based on validated field-level intelligence.

Our data mining techniques incorporate both parametric and non-parametric methods, allowing for structured data collection, sorting, processing, and cleaning.

Demand projections are derived from large-scale data sets analyzed through proprietary algorithms, culminating in robust and reliable market sizing.

Research Approach

The bottom-up approach builds market estimates by starting with the smallest addressable market units and systematically aggregating them to create comprehensive market size projections. This method begins with specific, granular data points and builds upward to create the complete market landscape.
Customer Analysis → Segmental Analysis → Geographical Analysis

The top-down approach starts with the broadest possible market data and systematically narrows it down through a series of filters and assumptions to arrive at specific market segments or opportunities. This method begins with the big picture and works downward to increasingly specific market slices.
TAM → SAM → SOM

Bottom-Up Approach Diagram
Top-Down Approach Diagram
Research Methods
Desk/ Secondary Research

While analysing the market, we extensively study secondary sources, directories, and databases to identify and collect information useful for this technical, market-oriented, and commercial report. Secondary sources that we utilize are not only the public sources, but it is combination of Open Source, Associations, Paid Databases, MG Repository & Knowledgebase and Others.

Open Sources
  • Company websites, annual reports, financial reports, broker reports, and investor presentations
  • National government documents, statistical databases and reports
  • News articles, press releases and web-casts specific to the companies operating in the market, Magazines, reports, and others
Paid Databases
  • We gather information from commercial data sources for deriving company specific data such as segmental revenue, share for geography, product revenue, and others
  • Internal and external proprietary databases (industry-specific), relevant patent, and regulatory databases
Industry Associations
  • Governing Bodies, Government Organizations
  • Relevant Authorities, Country-specific Associations for Industries

We also employ the model mapping approach to estimate the product level market data through the players product portfolio

Primary Research

Primary research/ interviews is vital in analyzing the market. Most of the cases involves paid primary interviews. Primary sources includes primary interviews through e-mail interactions, telephonic interviews, surveys as well as face-to-face interviews with the different stakeholders across the value chain including several industry experts.

Respondent Profile and Number of Interviews
Type of Respondents Number of Primaries
Tier 2/3 Suppliers~20
Tier 1 Suppliers~25
End-users~25
Industry Expert/ Panel/ Consultant~30
Total~100

MG Knowledgebase
• Repository of industry blog, newsletter and case studies
• Online platform covering detailed market reports, and company profiles

Forecasting Factors and Models
Forecasting Factors
  • Historical Trends – Past market patterns, cycles, and major events that shaped how markets behave over time. Understanding past trends helps predict future behavior.
  • Industry Factors – Specific characteristics of the industry like structure, regulations, and innovation cycles that affect market dynamics.
  • Macroeconomic Factors – Economic conditions like GDP growth, inflation, and employment rates that affect how much money people have to spend.
  • Demographic Factors – Population characteristics like age, income, and location that determine who can buy your product.
  • Technology Factors – How quickly people adopt new technology and how much technology infrastructure exists.
  • Regulatory Factors – Government rules, laws, and policies that can help or restrict market growth.
  • Competitive Factors – Analyzing competition structure such as degree of competition and bargaining power of buyers and suppliers.
Forecasting Models/ Techniques

Multiple Regression Analysis

  • Identify and quantify factors that drive market changes
  • Statistical modeling to establish relationships between market drivers and outcomes

Time Series Analysis – Seasonal Patterns

  • Understand regular cyclical patterns in market demand
  • Advanced statistical techniques to separate trend, seasonal, and irregular components

Time Series Analysis – Trend Analysis

  • Identify underlying market growth patterns and momentum
  • Statistical analysis of historical data to project future trends

Expert Opinion – Expert Interviews

  • Gather deep industry insights and contextual understanding
  • In-depth interviews with key industry stakeholders

Multi-Scenario Development

  • Prepare for uncertainty by modeling different possible futures
  • Creating optimistic, pessimistic, and most likely scenarios

Time Series Analysis – Moving Averages

  • Sophisticated forecasting for complex time series data
  • Auto-regressive integrated moving average models with seasonal components

Econometric Models

  • Apply economic theory to market forecasting
  • Sophisticated economic models that account for market interactions

Expert Opinion – Delphi Method

  • Harness collective wisdom of industry experts
  • Structured, multi-round expert consultation process

Monte Carlo Simulation

  • Quantify uncertainty and probability distributions
  • Thousands of simulations with varying input parameters
Research Analysis

Our research framework is built upon the fundamental principle of validating market intelligence from both demand and supply perspectives. This dual-sided approach ensures comprehensive market understanding and reduces the risk of single-source bias.

Demand-Side Analysis: We understand end-user/application behavior, preferences, and market needs along with the penetration of the product for specific application.
Supply-Side Analysis: We estimate overall market revenue, analyze the segmental share along with industry capacity, competitive landscape, and market structure.

Validation & Evaluation

Data triangulation is a validation technique that uses multiple methods, sources, or perspectives to examine the same research question, thereby increasing the credibility and reliability of research findings. In market research, triangulation serves as a quality assurance mechanism that helps identify and minimize bias, validate assumptions, and ensure accuracy in market estimates.

  • Data Source Triangulation – Using multiple data sources to examine the same phenomenon
  • Methodological Triangulation – Using multiple research methods to study the same research question
  • Investigator Triangulation – Using multiple researchers or analysts to examine the same data
  • Theoretical Triangulation – Using multiple theoretical perspectives to interpret the same data
Data Triangulation Flow Diagram

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