Contactless Payment Terminals Market Insights 2019 | Geographical Regions, International Market Size and Growth Forecast to 2024
This “Contactless Payment Terminals Market” report provides a detailed study on market and how it is impacting the industry. The report includes details of emerging trends, growth history, sales channel, manufacturers profiled in business, market share of product, application and regional scope of industry. In addition, the report also mentions opportunities that manufacturers operating in the global Contactless Payment Terminals market can use for expanding their business in untapped market to increase their customer base.
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Contactless Payment Terminals Market Covers Manufacturers:
Scope of the Report:
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Key Market Trends:
Increasing Internet Penetration to Drive the Contactless Payment Terminals Market
– The growth of the contactless payment terminals market will be driven by internet penetration as a strong internet connection is the backbone of this payment method.
– The number of internet users in 2018 reached more than 4 billion, depicting a 7% year-on-year growth rate.
– Moreover, with increasing digitization and smart cities, people will be more inclined towards contactless payment methods as they offer convenience and quicker checkout time.
– Also, smartphone manufacturers are coming out with contactless payment methods such as Samsung Pay. All this will aid the contactless payment terminals market to grow.
– Moreover, North America has the highest internet penetration rate followed by Europe, Australia, Latin America. The world average of internet penetration rate is 56.80 %. With increasing penetration level of the internet, people are adapting themselves to new technology and they are becoming more technology oriented. This boost the contactless payment market.
– Applications like Google Pay, Apple Pay, Samsung Pay & many more are driving the market by providing easy to use, one tap money transfer, rewards and lot of other perks.
Europe to Have Largest Share in the Contactless Payment Terminals Market
– Owing to increasing smart card rollouts and technological advancements, Europe is expected to lead the market with the largest share.
– According to the Electronic Transactions Association (ETA), contactless payments on the Mastercard and Maestro networks grew by 145% in Europe, in 2018. Growth in contactless payments was robust across multiple countries in Europe, thus driving interest in wearable payments.
– According to UK Finance, there were 1.6 billion debit and credit card transactions in the UK. Nearly a third of all card transactions in the UK were made using contactless cards. There were 642 million contactless card transactions in January 2019, a 19.5 percent increase from 537 million a year earlier.
– Moreover, banks are integrating with mobile payment apps in the European region, owing to the increasing adoption of smartphones. For instance, Apple is integrating with Monzo.
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Target Audience of Contactless Payment Terminals Market:
- Manufacturer / Potential Investors
- Traders, Distributors, Wholesalers, Retailers, Importers and Exporters.
- Association and government bodies.
Key Reasons to Contactless Payment Terminals Market Report:
- Analyzing various perspectives of the Contactless Payment Terminals market with the help of Porter’s five forces analysis
- The End User that is expected to dominate the Contactless Payment Terminals market is analyzed in detail
- The regions which are expected to witness fastest growth during the forecast period are analyzed and estimated for growth of Contactless Payment Terminals market.
- Identify the latest developments, market shares and strategies employed by the major market players.
- Regional analysis of Contactless Payment Terminals market studied, during the forecast period
- The segments that are expected to dominate the Contactless Payment Terminals market studied.
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