Global Market Size of Contactless Payment Market – 10 Year Market Forecast

ICT

Contactless Payment Market Size Forecast 2022-2029

Fast and efficient transactions are the major advantage offered by contactless payment. The increasing adoption of contactless payment technologies in mobile devices and smartphones worldwide has made it easier for users to access them thereby boosting the demand for the technology tremendously. Over the study period, North America is expected to be the largest market with the highest growth rate, followed by Europe and APAC. The global contactless payment market size is anticipated to grow from USD 21.79 billion in 2022 to USD 45.38 billion by 2029, registering a CAGR of 11%. The cumulative market size is calculated to be USD 275 billion.

Frequently Asked Questions(FAQ)

• What is Global Market Database?

• Global market database studies the ongoing trends within the market and updates the market information on a quarterly basis.
• What is the CAGR for the contactless payment market?

• The CAGR for the contactless payment market is 11%.
• Which component primarily attributes to the market growth?

• The component segment, hardware attributes primarily to the market growth.
• Which is the key region driving the market growth?

• North America is the key region driving the market growth.
• Which is the largest vertical in the contactless payment market?

• The largest vertical in the contactless payment market is retail.

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