Global Contactless Payment Market Size, Trends & Growth Opportunity By Devices (Smart Cards, NFC Chips, Point of Sale Terminals, Mobile Handsets), By Component (Services (Professional Services, Multi-Channel Payment Services, and Managed Services), Solutions (Device Management Solution, Data Management Solution, Contactless Mobile Payment Solution), By Vertical, By Region and Forecast till 2027
Market Overview
Global Contactless Payment Market was valued at USD 10.8 billion in 2021 which is expected to reach USD 19.85 billion by 2027 at a CAGR 11.9% from 2022-2027.
The contactless payment method is a crucial component of the payment process in many industries. Many companies are quickly accepting contactless payments, which are extremely safe and practical. In essence, banks offer contactless payment services. Using smart cards to make purchases of services or goods is secure. 
Market Drivers
The main factor driving the growth of the global contactless payment market is the rise in adoption of new emergent systems due to technological advancements. For instance, Upgrade Inc. introduced the first contactless and mobile payment Upgrade cards in April 2020. It is accessible online via Google Pay and Apple Pay. Additionally, as the use of smartphones increases, so will the demand for contactless payments, which is anticipated to fuel market expansion. Additionally, the COVID 19 pandemic outbreak will boost the expansion of the global contactless payment market. The demand for contactless payments has increased as a result of an increase in the number of COVID 19 positive or confirmed cases. Consumers can better defend themselves against COVID 19 by using contactless payments.
Market Restraints
However, the challenging factor that is anticipated to restrain the growth of the global contactless payment market is privacy and safety concerns. Additionally, the high deployment costs will hinder the expansion of the global contactless payment sector. 
Market Segmentation
Global Contactless Payment Market is segmented into devices such as Smart Cards, NFC Chips, Point of Sale Terminals, Mobile Handsets, and Others. Further, Global Contactless Payment Market is segmented into component such as Services (Professional Services, Multi-Channel Payment Services, and Managed Services), and Solutions (Device Management Solution, Data Management Solution, Contactless Mobile Payment Solution, and Others), and by vertical such as Government, IT and Telecommunication, Healthcare, BFSI, and Others.
Also, Global Contactless Payment Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The contactless payment market was most popular in North America. Aggressive investments are being made in North America to create technologically cutting-edge solutions for contactless payments, like NFCs and RFIDs. A growing preference for digitization, the Internet of Things (IoT), and big data is also anticipated to fuel demand for advanced hardware and software solutions from the region's incumbent providers of contactless payment solutions, which is positive for the expansion of the regional market.
Market Key Players
Various key players are discussed in this report such as  Heartland Payment Systems, Inc, Verifone Systems, Inc, Oberthur Technologies SA, Wirecard AG, Inside Secure, Giesecke & Devrient GmbH, Proxama, PLC, Ingenico Group, and  Gemalto N.V. 
Market Taxonomy
By Devices
• Smart Cards
• NFC Chips
• Point of Sale Terminals
• Mobile Handsets
• Others
By Component
• Services
o Professional Services
o Multi-Channel Payment Services
o Managed Services
• Solutions
o Device Management Solution
o  Data Management Solutio
o  Contactless Mobile Payment Solution
o  Others
By Vertical
• Government
• IT and Telecommunication
• Healthcare
• BFSI
• Others
By Region
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

Global Contactless Payment Market TOC:
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Contactless Payment Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Contactless Payment Market, By Devices
5.1 Y-o-Y Growth Comparison, By Devices 
5.2 Global Contactless Payment Market Share Analysis, By Devices 
5.3 Global Contactless Payment Market Size and Forecast, By Devices
5.3.1 Smart Cards
5.3.2NFC Chips
5.3.3Point of Sale Terminals
5.3.4 Mobile Handsets
5.3.5Others
6 Global Contactless Payment Market, By Components
6.1 Y-o-Y Growth Comparison, By Components
6.2 Global Contactless Payment Market Share Analysis, By Components
6.3 Global Contactless Payment Market Size and Forecast, By Components
6.3.1 Services
6.3.1.1Professional Services
6.3.1.2 Multi-Channel Payment Services
6.3.1.3 Managed Services
6.3.2 Solutions
6.3.2.1 Device Management Solution
6.3.2.2Data Management Solution
6.3.2.3Contactless Mobile Payment Solution
6.3.2.4Others
7 Global Contactless Payment Market, By Vertical
7.1 Y-o-Y Growth Comparison, By Vertical
7.2 Global Contactless Payment Market Share Analysis, By Vertical
7.3 Global Contactless Payment Market Size and Forecast, By Vertical
7.3.1 Government
7.3.2 IT & Telecommunication
7.3.3Healthcare
7.3.4BFSI
7.3.5 Others
8Global Contactless Payment Market, By Region
8.1 Global Contactless Payment Market Share Analysis, By Region
8.2 Global Contactless Payment Market Share Analysis, By Region
8.3 Global Contactless Payment Market Size and Forecast, By Region
9 North America Contactless Payment Market Analysis and Forecast (2022 – 2027)
9.1 Introduction
9.2 North America Contactless Payment Market Share Analysis, By Devices
9.3 North America Contactless Payment Market Size and Forecast, By Components
9.4 North America Contactless Payment Market Size and Forecast, By Vertical
9.5 North America Contactless Payment Market Size and Forecast, By Country
9.5.1 U.S.
9.5.2 Canada
9.5.3 Mexico
10Europe Contactless Payment Market Analysis and Forecast (2022 – 2027)
10.1 Introduction
10.2 Europe Contactless Payment Market Share Analysis, By Devices 
10.3 Europe Contactless Payment Market Size and Forecast, By Components 
10.4 Europe Contactless Payment Market Size and Forecast, By Vertical
10.5 Europe Contactless Payment Market Size and Forecast, By Country
10.5.1 Germany
10.5.2 France
10.5.3 UK
10.54. Rest of Europe
11Asia Pacific Contactless Payment Market Analysis and Forecast (2022 – 2027)
11.1 Introduction
11.2 Asia Pacific Contactless Payment Market Share Analysis, By Devices 
11.3 Asia Pacific Contactless Payment Market Size and Forecast, By Components 
11.4 Asia Pacific Contactless Payment Market Size and Forecast, By Vertical
11.5 Asia Pacific Contactless Payment Market Size and Forecast, By Country
11.5.1 China
11.5.2 Japan
11.5.3 India
11.5.4. Rest of Asia Pacific
12Latin America Contactless Payment Market Analysis and Forecast (2022 – 2027)
12.1 Introduction
12.2 Latin America Contactless Payment Market Share Analysis, By Devices 
12.3 Latin America Contactless Payment Market Size and Forecast, By Components 
12.4 Latin America Contactless Payment Market Size and Forecast, By Vertical
12.5 Latin America Contactless Payment Market Size and Forecast, Country
13Middle East Contactless Payment Market Analysis and Forecast (2022 – 2027)
13.1 Introduction
13.2 Middle East Contactless Payment Market Share Analysis, By Devices 
13.3 Middle East Contactless Payment Market Size and Forecast, By Components 
13.4 Middle East Contactless Payment Market Size and Forecast, By Vertical
13.5 Middle East Contactless Payment Market Size and Forecast, By Country
14Competitive Analysis
14.1 Competition Dashboard
14.2 Market share Analysis of Top Vendors
14.3 Key Development Strategies
15Company Profiles
15.1 Heartland Payment Systems, Inc
15.1.1 Overview
15.1.2 Offerings
15.1.3 Key Financials
15.1.4 Business Segment & Geographic Overview
15.1.5 Key Market Developments
15.1.6 Key Strategies
15.2 Verifone Systems, Inc
15.2.1 Overview
15.2.2 Offerings
15.2.3 Key Financials
15.2.4 Business Segment & Geographic Overview
15.2.5 Key Market Developments
15.2.6 Key Strategies
15.3  Oberthur Technologies SA
15.3.1 Overview
15.3.2 Offerings
15.3.3 Key Financials
15.3.4 Business Segment & Geographic Overview
15.3.5 Key Market Developments
15.3.6 Key Strategies
15.4 Wirecard AG
15.4.1 Overview
15.4.2 Offerings
15.4.3 Key Financials
15.4.4 Business Segment & Geographic Overview
15.4.5 Key Market Developments
15.4.6 Key Strategies
15.5 Inside Secure
15.5.1 Overview
15.5.2 Offerings
15.5.3 Key Financials
15.5.4 Business Segment & Geographic Overview
15.5.5 Key Market Developments
15.5.6 Key Strategies
15.6 Giesecke & Devrient GmbH
15.6.1 Overview
15.6.2 Offerings
15.6.3 Key Financials
15.6.4 Business Segment & Geographic Overview
15.6.5 Key Market Developments
15.6.6 Key Strategies
15.7 Proxama, PLC
15.7.1 Overview
15.7.2 Offerings
15.7.3 Key Financials
15.7.4 Business Segment & Geographic Overview
15.7.5 Key Market Developments
15.7.6 Key Strategies 
15.8 Ingenico Group
15.8.1 Overview
15.8.2 Offerings
15.8.3 Key Financials
15.8.4 Business Segment & Geographic Overview
15.8.5 Key Market Developments
15.8.6 Key Strategies 
15.9 Gemalto N.V.
15.9.1 Overview
15.9.2 Offerings
15.9.3 Key Financials
15.9.4 Business Segment & Geographic Overview
15.9.5 Key Market Developments
15.9.6 Key Strategies