Contactless Payment Market Rising at 21.2% CAGR to 2021

PUNE, India, May 25, 2016 /PRNewswire/ --

The contactless payment market size is growing at highest rate due to the increasing adoption of contactless payment technology in mobile handsets and wearables while the payment terminal solution is set to dominate this industry forecast to reach $17.56 billion by 2021, at a CAGR of 21.2%.

Complete report on global contactless payment market spread across 146 pages, profiling 10 companies and supported with 69 tables and 48 figures is now available at http://www.reportsnreports.com/reports/272503-contactless-payments-market-by-solutions-payment-terminal-business-management-card-issuance-anti-skimming-by-services-consultation-integration-value-added-services-global-advancements-market-forecasts-and-analysis-2013-2018-.html

Ease of integration of contactless payment technology with existing cards and increased average transaction value is also driving the growth of the market. In 2016, payment terminal solution is expected to dominate the contactless payment solutions market due to the increasing support and assistance required by the merchants who are readily deploying the contactless payment terminals in the businesses to support contactless payment transactions. Healthcare is the fastest-growing vertical due to increasing adoption of contactless technology for bill payments in hospitals. Professional services commands the major share in contactless payment services market as these services are necessary for the successful implementation of contactless payment platforms and technologies.

Europe is expected to hold the largest market share of the contactless payment market in 2016 due to technological advancements and increasing contactless smart card roll-outs. APAC is expected to have the highest growth rate during the forecast period due to the increasing number of contactless payment technology enabled smart phones in countries such as China, Australia, Japan, and India.

The various key contactless payment vendors profiled in this report such as Gemalto N.V., Giesecke & Devrient GmbH, Ingenico Group, Verifone Systems Inc., Wirecard AG, Heartland Payment Systems Inc., INSIDE Secure, OTI, Oberthur Technologies SA and Proxama PLC. Order a copy of Contactless Payment Market by Solution (Payment Terminal, Mobile Payment, Transaction & Data Management, Security and Fraud Management), Service (Professional, Managed), Payment Mode (Mobile Handsets, Smart Cards) and Vertical - Global Forecast to 2021 research report at http://www.reportsnreports.com/purchase.aspx?name=272503