Contactless Payment Market Size, Share, Growth Opportunity Analysis Report by Payment Mode (Contactless Cards, Wearables, Mobile Devices (Smartphones using NFC or QR-based apps) and Others), Component, Technology, Transaction Type, Application, End User, Industry Vertical and Geography (North America, Europe, Asia Pacific, Middle East, Africa, and South America) – Global Industry Data, Trends, and Forecasts, 2025–2035
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Market Structure & Evolution |
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Segmental Data Insights |
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Demand Trends |
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Competitive Landscape |
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Strategic Development |
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Future Outlook & Opportunities |
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Contactless Payment Market Size, Share, and Growth
The global contactless payment market is projected to grow from USD 13.2 Billion in 2025 to USD 34.1 Billion in 2035, with a strong CAGR of 9.0% during the forecasted period. The worldwide contactless payment market is being faced with major adverse factors, including the growing number of buyers demanding seamless yet secure transactions and those requiring integrations for mobile and wearable devices. For instance, it could be that Apple Inc. might have elevated the presence of "Tap to Pay on iPhone" into other areas of Europe, making it more convenient for merchants and consumers alike as contactless payments could be accepted through the iPhone alone.
In March 2025, Visa Inc. launched its "Tap to Everything" strategy, expanding contactless payments to wearable fitness devices and public parking meters across North America and Europe. This initiative, led by Ryan McInerney, CEO of Visa Inc., focuses on embedding NFC technology into non-traditional interfaces to increase everyday use-cases and consumer touchpoints. The move aims to drive mass-market adoption by making contactless payments more accessible in daily life scenarios.
Also, March 2024 saw the union of the two in issuing said cards, biometric contactless cards by ING and Mastercard; these cards present extremely high-level safety and high-speed transaction capabilities. The technology has therefore been pushing for adoption of contactless payments all over retail and banking institutes.
The world-wide opportunities for the contactless payments market are tableaux of biometric authentication systems, mPOS devices, and digital identity management solutions. These markets prosper due to the swelling need for secure, seamless, and remote financial transactions brought upon by fintech innovations and consumer preferences landscape. These adjacent markets are working to encourage contactless payment adoption across greater security parameters, flexibility, and scalability.
Contactless Payment Market Dynamics and Trends
Driver: Surge in Wearable Payment Technologies
- Increasing acceptance of payment wearables remains one of the maximum drivers for the progress of contactless payments worldwide. Smartwatches, fitness trackers, and other wearable devices embedded with NFC chips are effectively allowing the consumers to conduct tap-to-pay transactions without having to possess a physical card or smartphone. Apart from offering this convenience, it also addresses hygienic concerns with respect to NASA.
- In 2024, Apple Inc. extended the capabilities of Apple Pay on the Apple Watch Series 9 with advanced tokenization and biometric authentication for quicker, secured in-store payments. Additionally, the Galaxy Watch range from Samsung has enabled Samsung Pay to collaborate with more banking systems across Europe and Asia. Give users the power to pay with their wrist, blending health, connectivity, and financial services into one wearable-device form, thereby taking general contactless payment services from an abstract idea to reality.
- User engagement and payment use-cases in retail, transport, and fitness are being accelerated by wearables, thereby creating growth for the entire market.
Restraint: Cybersecurity and Data Privacy Concerns
- The growing threats of criminal cyberattacks and vacuuming of data for illicit purposes are a major restraint for the global contactless payment market. Faster and seamless transactions are open to skimming, phishing, and unauthorized access in a public or crowded environment.
- In 2024, Visa Inc. encountered increased fraud cases linked to contactless payments in Latin America and decided to introduce stronger security algorithms for token lifecycle management. Despite the fact that consumers and merchants perceive risk due to technological assurance of EMV standards and tokenization, the payment service providers feel a greater pressure to maintain strong data integrity due to regulatory frameworks such as GDPR in Europe and the new PCI DSS v4.0 internationally. All of this slow down adoption, most especially in developing economies where the infrastructure is still being developed and awareness is pretty thin.
- Growing fraud risks could hinder consumer confidence, limiting the potential for contactless payment systems to flourish in high-risk zones.
Opportunity: Integration with Transit and Urban Mobility Systems
- There exist countless potentials for plumping growth by marrying contactless payment technologies with public transport and urban mobility solutions. Governments and the private transit operators alike seek methods of fare collection that require low physical contact and facilitate the passenger experience while concurrently keeping the operational costs down. Mastercard had partnered with Delhi Metro and National Common Mobility Card (NCMC) in 2025 to institute on the spot interop with payments across buses, metros, and suburban rail.
- Moreover, NXP Semiconductors launched MIFARE 2GO, which provided mobile ticketing services for cities like Amsterdam and Vienna on an enhanced scale. Implementation of these solutions affords greater convenience to the user, yet equally, the data gained from its usage provides insight for planning on behalf of city authorities. In return, as the concepts of smart cities continue to expand, this might just be the agency to fill the gaps of digital infrastructure across mobility, retail, and municipal services.
- Urban mobility integration is giving rise to occasions for the recurrent use of such services and deepening the use of contactless payments in the daily urban life.
Key Trend: Rise of SoftPOS Solutions
- The rise of software-based points of sale (SoftPOS) is a game changer in the contactless payments space. From an SMEs point of view, it greatly reduces costs by allowing them to turn any generic Android smartphone or a generic tablet into an NFC payment terminal, with no additional hardware requirement. In 2024, Stripe also launched Tap to Pay on Android in multiple countries in Europe, allowing contactless payments to vendors through just a mobile app.
- In another instance, SumUp brought the SoftPOS solution to the Latin American markets for micro-merchant segments. These solutions make it easy to onboard merchants and reduce infrastructure costs, in support of the growing gig economy and distance retail formats. Moreover, it perks the ability of merchants to go omnichannel and provide them with real-time analytics, enhancing the trader life experience!
- With SoftPOS, contactless payments are considered democratized, thereby leading to greater merchant acceptance and further penetration of the contactless ecosystem worldwide.
Contactless Payment Market Analysis and Segmental Data
Based on Payment Mode, the Mobile Devices (Smartphones using NFC or QR-based apps) Segment Retains the Largest Share
- In the global contactless payments market, the mobile device segment is the leader, holding an approximate share of 45%. When it comes to services, mobile payment services are more useful, secure, and faster for both users and merchants, hence being the most preferred among people. They are found everywhere, known to the people, and can be directly integrated with digital wallets like Apple Pay, Google Pay, and Alipay.
- In 2024, Google expanded the Google Wallet service to more than 60 countries, providing support for biometric authentication and offline NFC, thus tremendously increasing adoption in emerging markets.
- Infrastructural requirements not being very high, QR code payments are thriving in Asia and Latin America, though. As an instance, interoperable QR payments via a UPI-linked wallet were enabled by Paytm in India in 2024, thus further propelling its use in retail and transit. Smartphones are now sold to be an all-rounder for shopping, banking, and transport, i.e., they are at the core of contactless transactions.
- Mobile devices drive contactless payments, which enable fast worldwide scaling and inclusion in finance.
Asia Pacific Dominates Global Contactless Payment Market in 2025 and Beyond
- Regionally recognized for leading contactless payment adoption due to large populations of smartphone users, high urban density, and fast-paced digitization of financial ecosystems, governments around the region have pushed hard for cashless agendas and fintech innovations.
- By 2024, Singapore recorded over 95% of contactless transactions at retail via the national SGQR system, which allows universal QR code-based payments across banks and wallets. It has hence nurtured an environment that favors both NFC and QR payments.
- Simultaneously, rising e-commerce, fintech startups, and the mobile-first consumer demand set in countries such as China, India, and Indonesia. In 2024, Ant Group dispatched Alipay+ in Southeast Asia, providing cross-border QR payments for tourists and locals. Contactless payments are in the mainstream, from urban areas all the way to Tier II and III cities, via government-backed digital inclusion programs.
- Strong infrastructure, mobile penetration, and regulatory pushes put Asia Pacific at the center of the global contactless payment’s growth.
Key Players Operating in the Contactless Payment Market
Key players in the global contactless payment market include prominent companies such Visa Inc., Mastercard, American Express, UnionPay, Apple Pay, and Other Key Players.
The contactless payment market is moderately to highly consolidated, with Tier 1 players such as Visa, Mastercard, Apple Pay, and PayPal dominating through global transaction networks, consumer trust, and integrated ecosystems. Tier 2 and 3 players like Stripe and Verifone support fintech innovation and merchant services. Buyer concentration is low due to a vast and diverse consumer base, while supplier concentration is moderate, influenced by a limited number of secure hardware and tokenization technology providers.
Recent Development and Strategic Overview:
- In June 2025, Release 15 was recently introduced by the NFC Forum, which extends contactless reach from ~0.5 cm to ~2 cm, and by doing so should greatly increase tap-to-pay's reliability and ease, especially for wearables and smaller-sized devices. Leading manufacturers such as Apple, Google, Sony, and Huawei have already leveraged this spec for higher convenience and faster transactions without the need for precise terminal alignment.
- In July 2025, Mastercard and Eastern Bank PLC in Bangladesh collaborated to introduce the world's first commercially issued biometric metal credit card ("World Elite"), with fingerprint sensors embedded for contactless EMV transactions that are secure and require no PIN. The initiative underlines developments in authentication technology and Mastercard's investments in secure, top-class payment solutions.
Report Scope
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Attribute |
Detail |
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Market Size in 2025 |
USD 13.2 Billion |
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Market Forecast Value in 2035 |
USD 34.1 Billion |
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Growth Rate (CAGR) |
9.0% |
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Forecast Period |
2025 – 2035 |
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Historical Data Available for |
2021 – 2024 |
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Market Size Units |
US$ Billion for Value
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Report Format |
Electronic (PDF) + Excel |
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Regions and Countries Covered |
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North America |
Europe |
Asia Pacific |
Middle East |
Africa |
South America |
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Companies Covered |
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Contactless-Payment-Market Segmentation and Highlights
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Segment |
Sub-segment |
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By Component |
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By Payment Mode |
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By Technology |
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By Transaction Type |
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By Application |
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By End User |
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By Industry Vertical |
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Frequently Asked Questions
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
- 2.1. Global Contactless Payment Market Outlook
- 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
- 3.1. Global Information Technology & Media Overview, 2025
- 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.
- 4.1.1. Drivers
- 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
- 4.1. Market Dynamics
- 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
- 5.1. Competition structure
- 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
- 6.2.1. Hardware
- 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
- 7.2.1. Contactless Cards
- 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
- 20.1. Adyen N.V.
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.
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
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 a combination of Open Source, Associations, Paid Databases, MG Repository & Knowledgebase, and others.
- 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
- 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
- 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 include 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.
| 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
Custom Market Research Services
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