Us Contactless PoS Payment Market Size By Applications, By Type, By End-User, By Deployment & By Technology 2032
Contactless PoS Payment Market was valued at USD 24.50 Billion in 2022 and is projected to reach USD 65.80 Billion by 2030, growing at a CAGR of 16.50% from 2024 to 2030.
The U.S. contactless Point-of-Sale (PoS) payment market has experienced remarkable growth, revolutionizing consumer transactions and reshaping the retail landscape. As of 2023, contactless payments accounted for approximately 25% of all card transactions in the U.S., a significant increase from just 3% in 2017. This surge is attributed to the widespread adoption of contactless-enabled cards and mobile payment solutions, which offer consumers a faster and more secure alternative to traditional payment methods. In 2023, the number of contactless transactions in the U.S. reached an estimated 17.9 billion, up from 4.7 billion in 2019. This growth reflects both an increase in the number of contactless-enabled cards in circulation and broader acceptance by merchants. By the end of 2023, the number of contactless cards in the U.S. exceeded 300 million, up from 120 million in 2019. Consumer adoption of contactless payments has been fueled by the growing availability of contactless-enabled cards and mobile phones, as well as the increasing number of merchants accepting contactless payments. In 2023, 63% of consumers had used contactless payments, with 44% using them regularly. The COVID-19 pandemic significantly accelerated the adoption of contactless payments, as consumers and businesses sought safer, touch-free payment methods. This shift has led to a dramatic increase in the number of contactless transactions and the adoption of contactless-enabled cards. Looking ahead, the U.S. contactless PoS payment market is projected to continue its upward trajectory. The global contactless payments market, which includes the U.S., was valued at $22.4 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 15.4%, reaching $90.6 billion by 2032. This growth is driven by the increasing adoption of digital wallets, advancements in Near Field Communication (NFC) and QR code technologies, and expanding applications in retail and transportation sectors. In summary, the U.S. contactless PoS payment market has undergone a transformative shift, with significant growth in both transaction volume and consumer adoption. This trend is expected to continue, driven by technological advancements and changing consumer preferences.
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Gemalto
Infineon
Ingenico
Wirecard
Verifone
Giesecke+Devrient
IDEMIA
On Track Innovations
Identiv
CPI Card Group
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Contactless PoS Payment Market
Near Field Communication (NFC)
QR Code Payments
Mobile Wallets
Magnetic Stripe
Retail
Hospitality
Transportation
Health Care
Entertainment
Smartphones and Tablets
Contactless Payment Terminals
Wearable Devices
Point of Sale (PoS) Systems
In-Store Transactions
Online Transactions
Mobile Transactions
Bill Payments
Ages 18-24
Ages 25-34
Ages 35-44
Ages 45-54
Ages 55 and above
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Contactless PoS Payment Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Contactless PoS Payment Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Contactless PoS Payment Market, By Type
6. Global Contactless PoS Payment Market, By Application
7. Global Contactless PoS Payment Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Contactless PoS Payment Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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