Market Overview
The Global NFC Payments market was valued at 14Billion in 2023 and is expected to reach 35Billion by 2019, growing at a compound annual growth rate (CAGR) of 23% over the forecast period. This steady growth is driven by factors such as increasing demand, technological innovations, and rising investments across the industry. Furthermore, expanding applications in various sectors, coupled with an emphasis on sustainability and innovation, are anticipated to further propel market expansion. The projected growth reflects the industry's evolving landscape and emerging opportunities within the NFC Payments market.NFC Payments Market Size in (USD Billion) CAGR Growth Rate 23%
| Study Period | 2019-2031 |
| Market Size (2023): | 14Billion |
| Market Size (2031): | 35Billion |
| CAGR (2023 - 2031): | 23% |
| Fastest Growing Region | APAC |
| Dominating Region | North America |
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Over the years some huge technological advancements in the department of finance and payments have seen. The intervention of technology has totally changed the way to make payments today. With internet banking, mobile banking, and mobile wallet payments, users no longer are dependent on cash. With time, users are witnessing new technologies being used to make the payment experience better than ever. And one of these technologies is NFC.NFC payments which are also known as contactless payments have gained immense popularity throughout the world. NFC stands for Near Field Communication. It’s a technology that enables users to securely transmit and receive information through their phones over a short-range (usually 4 cm). NFC is an upgrade of the existing RFID technology which combines both the reader and the smartcard interface into a single device.
Regional Insights
The NFC Payments market exhibits significant regional variation, shaped by different economic conditions and consumer behaviours.- North America: High disposable incomes and a robust e-commerce sector are driving demand for premium and convenient products.
- Europe: Fragmented market where Western Europe emphasizes luxury and organic products, while Eastern Europe experiences rapid growth.
- Asia-Pacific: Urbanization and a growing middle class drive demand for both high-tech and affordable products, positioning the region as a fast-growing market.
- Latin America: Economic fluctuations make affordability a key factor, with Brazil and Mexico leading the way in market expansion.
- Middle East & Africa: Luxury products are prominent in the Gulf States, while Sub-Saharan Africa sees gradual market growth, influenced by local preferences.
Regions
- North America
- LATAM
- West Europe
- Central & Eastern Europe
- Northern Europe
- Southern Europe
- East Asia
- Southeast Asia
- South Asia
- Central Asia
- Oceania
- MEA
Fastest Growing Region
APAC
Dominating Region
North America
Major Regulatory Bodies Worldwide
- U.S. Food and Drug Administration (FDA): Oversees the approval and regulation of pharmaceuticals, medical devices, and biologics in the U.S., setting high standards for product safety and efficacy.
- European Medicines Agency (EMA): Provides centralized drug approvals in the EU, ensuring uniform safety and efficacy standards across member states.
- Health Canada: and medical devices, maintaining high-quality standards in line with international regulations but adapted to national health needs.
- World Health Organization (WHO): While not a direct regulatory body, WHO sets international health standards that influence Global regulations and policies.
- The National Medical Products Administration (NMPA) regulates China's drug and medical device industry, increasingly aligning with Global standards to facilitate market access.
SWOT Analysis in the Healthcare Industry
- Strengths: internal advantages such as cutting-edge technology, a skilled workforce, and a strong brand presence (e.g., hospitals with specialized staff and modern equipment).
- Weaknesses: internal challenges, including outdated infrastructure, high operational costs, or inefficiencies in innovation.
- Opportunities: external growth drivers like new medical technologies, expanding markets, and favourable policies.
- Threats: external risks including intensified competition, regulatory changes, and economic fluctuations (e.g., new entrants with disruptive technologies).
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Market Segmentation
Segmentation by Type
- Mobile Wallets
- Contactless Cards
- Mobile POS
- Wearables
Segmentation by Application
- Retail
- Finance
- E-commerce
- Banking
- Public Services
NFC Payments Market Segmentation by Application
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Primary and Secondary Research
- Primary Research: The research involves direct data collection through methods like surveys, interviews, and clinical trials, providing real-time insights into patient needs, regulatory impacts, and market demand.
- Secondary Research: Analyzes existing data from sources like industry reports, academic journals, and market studies, offering a broad understanding of market trends and validating primary research findings. Combining both methods enables healthcare organizations to build data-driven strategies and make well-informed decisions.
NFC Payments Market Dynamics
Influencing Trend:
- Convenience
- Speed
Market Growth Drivers:
- Increased Customer Satisfaction And Improved Loyalty Programs
- Enhanced Purchase Experience
Challenges:
- Security Concerns
Opportunities:
- Rising Demand For Wearable Payment Devices
- And Growing Internet Penetration
- An Expanding Mobile Subscriber Base
- And The Rising Number Of IoT Devices
- An Increasing Number Of Developed And Emerging Economies Across The World Are Witnessing A Significant Surge In Digitization
Market Estimation Process
Optimizing Market Strategy: Leveraging Bottom-Up, Top-Down Approaches & Data Triangulation- Bottom-Up Approach: Aggregates granular data, such as individual sales or product units, to calculate overall market size, providing detailed insights into specific segments.
- Top-Down Approach: begins with broader market estimates and breaks them into segments, relying on macroeconomic trends and industry data for strategic planning.
- Data Triangulation: Combines multiple data sources (e.g., surveys, reports, expert interviews) to validate findings, ensuring accuracy and reducing bias.
Report Important Highlights
| Report Features | Details |
| Base Year | 2023 |
| Based Year Market Size 2023 | 14Billion |
| Historical Period | 2019 to 2023 |
| CAGR 2023 to 2031 | 23% |
| Forecast Period | 2025 to 2031 |
| Forecasted Period Market Size 2031 | 35Billion |
| Scope of the Report | Mobile Wallets, Contactless Cards, Mobile POS, Wearables, Retail, Finance, E-commerce, Banking, Public Services |
| Regions Covered | North America, LATAM, West Europe,Central & Eastern Europe, Northern Europe, Southern Europe, East Asia, Southeast Asia, South Asia, Central Asia, Oceania, MEA |
| Companies Covered | Gemalto (Netherlands), Infineon (Germany), Ingenico (France), Wirecard (Germany), Verifone (United States), Giesecke+Devrient (Germany), IDEMIA (France), On Track Innovations (Israel), Identiv (United States) |
| Customization Scope | 15% Free Customization |
| Delivery Format | PDF and Excel through Email |
Regulatory Framework of Market
1. The regulatory framework governing market research reports ensures transparency, accuracy, and adherence to ethical standards throughout data collection and reporting. Compliance with relevant legal and industry guidelines is essential for maintaining credibility and avoiding legal repercussions.2. Data Privacy and Protection: Laws such as the General Data Protection Regulation (GDPR) in the EU and the California Consumer Privacy Act (CCPA) in the US impose strict requirements for handling personal data. Market research firms must ensure that data collection methods adhere to privacy regulations, including securing consent and safeguarding data.
3. Fair Competition: Regulatory agencies like the Federal Trade Commission (FTC) in the US and the Competition and Markets Authority (CMA) in the UK uphold fair competition. Market research reports must be free of bias or misleading content that could distort competition or influence consumer decisions unfairly.
4. Intellectual Property Compliance: Adhering to copyright laws ensures that proprietary data and third-party insights used in research reports are legally sourced and properly cited, protecting against intellectual property infringement.
5. Ethical Standards: Professional bodies like the Market Research Society (MRS) and the American Association for Public Opinion Research (AAPOR) establish ethical guidelines that promote responsible, transparent research practices, ensuring that respondents’ rights are protected and findings are presented objectively.
Research Methodology
The top-down and bottom-up approaches estimate and validate the size of the Global NFC Payments market. To reach an exhaustive list of functional and relevant players, various industry classification standards are closely followed, such as NAICS, ICB, and SIC, to penetrate deep into critical geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in the Harbor Management Software market. To make a priority list, companies are sorted based on revenue generated in the latest reporting, using paid sources. Finally, the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting a prior appointment. This helps us gather the data for the player's revenue, OPEX, profit margins, product or service growth, etc. Almost 80% of data is collected through primary sources and further validation is done through various secondary sources that include Regulators, World Bank, Associations, Company Websites, SEC filings, white papers, OTC BB, Annual reports, press releases, etc.NFC Payments - Table of Contents
Chapter 1: Market Preface
- 1.1 Global NFC Payments Market Landscape
- 1.2 Scope of the Study
- 1.3 Relevant Findings & Stakeholder Advantages
Chapter 2: Strategic Overview
- 2.1 Global NFC Payments Market Outlook
- 2.2 Total Addressable Market versus Serviceable Market
- 2.3 Market Rivalry Projection
Chapter 3 : Global NFC Payments Market Business Environment & Changing Dynamics
-
3.1 Growth Drivers
- 3.1.1 Increased customer satisfaction and improved loyalty programs
- 3.1.2 Enhanced purchase experience
-
3.2 Available Opportunities
- 3.2.1 Rising demand for wearable payment devices
- 3.2.2 and growing inter
-
3.3 Influencing Trends
- 3.3.1 Convenience
- 3.3.2 Speed
- 3.3.3 Global Adoption
-
3.4 Challenges
- 3.4.1 Security Concerns
- 3.4.2 Technological Compatibility
- 3.5 Regional Dynamics
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Sectional Purchase
Chapter 4 : Global NFC Payments Industry Factors Assessment
- 4.1 Current Scenario
- 4.2 PEST Analysis
- 4.3 Business Environment - PORTER 5-Forces Analysis
- 4.3.1 Supplier Leverage
- 4.3.2 Bargaining Power of Buyers
- 4.3.3 Threat of Substitutes
- 4.3.4 Threat from New Entrant
- 4.3.5 Market Competition Level
- 4.4 Roadmap of NFC Payments Market
- 4.5 Impact of Macro-Economic Factors
- 4.6 Market Entry Strategies
- 4.7 Political and Regulatory Landscape
- 4.8 Supply Chain Analysis
- 4.9 Impact of Tariff War
Chapter 5: NFC Payments : Competition Benchmarking & Performance Evaluation
- 5.1 Global NFC Payments Market Concentration Ratio
- 5.1.1 CR4, CR8 and HH Index
- 5.1.2 % Market Share - Top 3
- 5.1.3 Market Holding by Top 5
- 5.2 Market Position of Manufacturers by NFC Payments Revenue 2023
- 5.3 BCG Matrix
- 5.3 Market Entropy
- 5.4 Strategic Group Analysis
- 5.5 5C’s Analysis
Chapter 6: Global NFC Payments Market: Company Profiles
- 6.1 Gemalto (Netherlands)
- 6.1.1 Gemalto (Netherlands) Company Overview
- 6.1.2 Gemalto (Netherlands) Product/Service Portfolio & Specifications
- 6.1.3 Gemalto (Netherlands) Key Financial Metrics
- 6.1.4 Gemalto (Netherlands) SWOT Analysis
- 6.1.5 Gemalto (Netherlands) Development Activities
- 6.2 Infineon (Germany)
- 6.3 Ingenico (France)
- 6.4 Wirecard (Germany)
- 6.5 Verifone (United States)
- 6.6 Giesecke+Devrient (Germany)
- 6.7 IDEMIA (France)
- 6.8 On Track Innovations (Israel)
- 6.9 Identiv (United States)
- 6.10 CPI Card Group (United States)
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Sectional Purchase
Chapter 7 : Global NFC Payments by Type & Application (2019-2031)
-
7.1 Global NFC Payments Market Revenue Analysis (USD Million) by Type (2019-2023)
- 7.1.1 Mobile Wallets
- 7.1.2 Contactless Cards
- 7.1.3 Mobile POS
- 7.1.4 Wearables
- 7.1.5 IoT-enabled
-
7.2 Global NFC Payments Market Revenue Analysis (USD Million) by Application (2019-2023)
- 7.2.1 Retail
- 7.2.2 Finance
- 7.2.3 E-commerce
- 7.2.4 Banking
- 7.2.5 Public Services
- 7.3 Global NFC Payments Market Revenue Analysis (USD Million) by Type (2023-2031)
- 7.4 Global NFC Payments Market Revenue Analysis (USD Million) by Application (2023-2031)
Chapter 8 : North America NFC Payments Market Breakdown by Country, Type & Application
- 8.1 North America NFC Payments Market by Country (USD Million) [2019-2023]
- 8.1.1 United States
- 8.1.2 Canada
-
8.2 North America NFC Payments Market by Type (USD Million) [2019-2023]
- 8.2.1 Mobile Wallets
- 8.2.2 Contactless Cards
- 8.2.3 Mobile POS
- 8.2.4 Wearables
- 8.2.5 IoT-enabled
-
8.3 North America NFC Payments Market by Application (USD Million) [2019-2023]
- 8.3.1 Retail
- 8.3.2 Finance
- 8.3.3 E-commerce
- 8.3.4 Banking
- 8.3.5 Public Services
- 8.4 North America NFC Payments Market by Country (USD Million) [2024-2031]
- 8.5 North America NFC Payments Market by Type (USD Million) [2024-2031]
- 8.6 North America NFC Payments Market by Application (USD Million) [2024-2031]
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Sectional Purchase
Chapter 9 : LATAM NFC Payments Market Breakdown by Country, Type & Application
- 9.1 LATAM NFC Payments Market by Country (USD Million) [2019-2023]
- 9.1.1 Brazil
- 9.1.2 Argentina
- 9.1.3 Chile
- 9.1.4 Mexico
- 9.1.5 Rest of LATAM
-
9.2 LATAM NFC Payments Market by Type (USD Million) [2019-2023]
- 9.2.1 Mobile Wallets
- 9.2.2 Contactless Cards
- 9.2.3 Mobile POS
- 9.2.4 Wearables
- 9.2.5 IoT-enabled
-
9.3 LATAM NFC Payments Market by Application (USD Million) [2019-2023]
- 9.3.1 Retail
- 9.3.2 Finance
- 9.3.3 E-commerce
- 9.3.4 Banking
- 9.3.5 Public Services
- 9.4 LATAM NFC Payments Market by Country (USD Million) [2024-2031]
- 9.5 LATAM NFC Payments Market by Type (USD Million) [2024-2031]
- 9.6 LATAM NFC Payments Market by Application (USD Million) [2024-2031]
Chapter 10 : West Europe NFC Payments Market Breakdown by Country, Type & Application
- 10.1 West Europe NFC Payments Market by Country (USD Million) [2019-2023]
- 10.1.1 Germany
- 10.1.2 France
- 10.1.3 Benelux
- 10.1.4 Switzerland
- 10.1.5 Rest of West Europe
-
10.2 West Europe NFC Payments Market by Type (USD Million) [2019-2023]
- 10.2.1 Mobile Wallets
- 10.2.2 Contactless Cards
- 10.2.3 Mobile POS
- 10.2.4 Wearables
- 10.2.5 IoT-enabled
-
10.3 West Europe NFC Payments Market by Application (USD Million) [2019-2023]
- 10.3.1 Retail
- 10.3.2 Finance
- 10.3.3 E-commerce
- 10.3.4 Banking
- 10.3.5 Public Services
- 10.4 West Europe NFC Payments Market by Country (USD Million) [2024-2031]
- 10.5 West Europe NFC Payments Market by Type (USD Million) [2024-2031]
- 10.6 West Europe NFC Payments Market by Application (USD Million) [2024-2031]
Chapter 11 : Central & Eastern Europe NFC Payments Market Breakdown by Country, Type & Application
- 11.1 Central & Eastern Europe NFC Payments Market by Country (USD Million) [2019-2023]
- 11.1.1 Bulgaria
- 11.1.2 Poland
- 11.1.3 Hungary
- 11.1.4 Romania
- 11.1.5 Rest of CEE
-
11.2 Central & Eastern Europe NFC Payments Market by Type (USD Million) [2019-2023]
- 11.2.1 Mobile Wallets
- 11.2.2 Contactless Cards
- 11.2.3 Mobile POS
- 11.2.4 Wearables
- 11.2.5 IoT-enabled
-
11.3 Central & Eastern Europe NFC Payments Market by Application (USD Million) [2019-2023]
- 11.3.1 Retail
- 11.3.2 Finance
- 11.3.3 E-commerce
- 11.3.4 Banking
- 11.3.5 Public Services
- 11.4 Central & Eastern Europe NFC Payments Market by Country (USD Million) [2024-2031]
- 11.5 Central & Eastern Europe NFC Payments Market by Type (USD Million) [2024-2031]
- 11.6 Central & Eastern Europe NFC Payments Market by Application (USD Million) [2024-2031]
Chapter 12 : Northern Europe NFC Payments Market Breakdown by Country, Type & Application
- 12.1 Northern Europe NFC Payments Market by Country (USD Million) [2019-2023]
- 12.1.1 The United Kingdom
- 12.1.2 Sweden
- 12.1.3 Norway
- 12.1.4 Baltics
- 12.1.5 Ireland
- 12.1.6 Rest of Northern Europe
-
12.2 Northern Europe NFC Payments Market by Type (USD Million) [2019-2023]
- 12.2.1 Mobile Wallets
- 12.2.2 Contactless Cards
- 12.2.3 Mobile POS
- 12.2.4 Wearables
- 12.2.5 IoT-enabled
-
12.3 Northern Europe NFC Payments Market by Application (USD Million) [2019-2023]
- 12.3.1 Retail
- 12.3.2 Finance
- 12.3.3 E-commerce
- 12.3.4 Banking
- 12.3.5 Public Services
- 12.4 Northern Europe NFC Payments Market by Country (USD Million) [2024-2031]
- 12.5 Northern Europe NFC Payments Market by Type (USD Million) [2024-2031]
- 12.6 Northern Europe NFC Payments Market by Application (USD Million) [2024-2031]
Chapter 13 : Southern Europe NFC Payments Market Breakdown by Country, Type & Application
- 13.1 Southern Europe NFC Payments Market by Country (USD Million) [2019-2023]
- 13.1.1 Spain
- 13.1.2 Italy
- 13.1.3 Portugal
- 13.1.4 Greece
- 13.1.5 Rest of Southern Europe
-
13.2 Southern Europe NFC Payments Market by Type (USD Million) [2019-2023]
- 13.2.1 Mobile Wallets
- 13.2.2 Contactless Cards
- 13.2.3 Mobile POS
- 13.2.4 Wearables
- 13.2.5 IoT-enabled
-
13.3 Southern Europe NFC Payments Market by Application (USD Million) [2019-2023]
- 13.3.1 Retail
- 13.3.2 Finance
- 13.3.3 E-commerce
- 13.3.4 Banking
- 13.3.5 Public Services
- 13.4 Southern Europe NFC Payments Market by Country (USD Million) [2024-2031]
- 13.5 Southern Europe NFC Payments Market by Type (USD Million) [2024-2031]
- 13.6 Southern Europe NFC Payments Market by Application (USD Million) [2024-2031]
Chapter 14 : East Asia NFC Payments Market Breakdown by Country, Type & Application
- 14.1 East Asia NFC Payments Market by Country (USD Million) [2019-2023]
- 14.1.1 China
- 14.1.2 Japan
- 14.1.3 South Korea
- 14.1.4 Taiwan
- 14.1.5 Others
-
14.2 East Asia NFC Payments Market by Type (USD Million) [2019-2023]
- 14.2.1 Mobile Wallets
- 14.2.2 Contactless Cards
- 14.2.3 Mobile POS
- 14.2.4 Wearables
- 14.2.5 IoT-enabled
-
14.3 East Asia NFC Payments Market by Application (USD Million) [2019-2023]
- 14.3.1 Retail
- 14.3.2 Finance
- 14.3.3 E-commerce
- 14.3.4 Banking
- 14.3.5 Public Services
- 14.4 East Asia NFC Payments Market by Country (USD Million) [2024-2031]
- 14.5 East Asia NFC Payments Market by Type (USD Million) [2024-2031]
- 14.6 East Asia NFC Payments Market by Application (USD Million) [2024-2031]
Chapter 15 : Southeast Asia NFC Payments Market Breakdown by Country, Type & Application
- 15.1 Southeast Asia NFC Payments Market by Country (USD Million) [2019-2023]
- 15.1.1 Vietnam
- 15.1.2 Singapore
- 15.1.3 Thailand
- 15.1.4 Malaysia
- 15.1.5 Indonesia
- 15.1.6 Philippines
- 15.1.7 Rest of SEA Countries
-
15.2 Southeast Asia NFC Payments Market by Type (USD Million) [2019-2023]
- 15.2.1 Mobile Wallets
- 15.2.2 Contactless Cards
- 15.2.3 Mobile POS
- 15.2.4 Wearables
- 15.2.5 IoT-enabled
-
15.3 Southeast Asia NFC Payments Market by Application (USD Million) [2019-2023]
- 15.3.1 Retail
- 15.3.2 Finance
- 15.3.3 E-commerce
- 15.3.4 Banking
- 15.3.5 Public Services
- 15.4 Southeast Asia NFC Payments Market by Country (USD Million) [2024-2031]
- 15.5 Southeast Asia NFC Payments Market by Type (USD Million) [2024-2031]
- 15.6 Southeast Asia NFC Payments Market by Application (USD Million) [2024-2031]
Chapter 16 : South Asia NFC Payments Market Breakdown by Country, Type & Application
- 16.1 South Asia NFC Payments Market by Country (USD Million) [2019-2023]
- 16.1.1 India
- 16.1.2 Bangladesh
- 16.1.3 Others
-
16.2 South Asia NFC Payments Market by Type (USD Million) [2019-2023]
- 16.2.1 Mobile Wallets
- 16.2.2 Contactless Cards
- 16.2.3 Mobile POS
- 16.2.4 Wearables
- 16.2.5 IoT-enabled
-
16.3 South Asia NFC Payments Market by Application (USD Million) [2019-2023]
- 16.3.1 Retail
- 16.3.2 Finance
- 16.3.3 E-commerce
- 16.3.4 Banking
- 16.3.5 Public Services
- 16.4 South Asia NFC Payments Market by Country (USD Million) [2024-2031]
- 16.5 South Asia NFC Payments Market by Type (USD Million) [2024-2031]
- 16.6 South Asia NFC Payments Market by Application (USD Million) [2024-2031]
Chapter 17 : Central Asia NFC Payments Market Breakdown by Country, Type & Application
- 17.1 Central Asia NFC Payments Market by Country (USD Million) [2019-2023]
- 17.1.1 Kazakhstan
- 17.1.2 Tajikistan
- 17.1.3 Others
-
17.2 Central Asia NFC Payments Market by Type (USD Million) [2019-2023]
- 17.2.1 Mobile Wallets
- 17.2.2 Contactless Cards
- 17.2.3 Mobile POS
- 17.2.4 Wearables
- 17.2.5 IoT-enabled
-
17.3 Central Asia NFC Payments Market by Application (USD Million) [2019-2023]
- 17.3.1 Retail
- 17.3.2 Finance
- 17.3.3 E-commerce
- 17.3.4 Banking
- 17.3.5 Public Services
- 17.4 Central Asia NFC Payments Market by Country (USD Million) [2024-2031]
- 17.5 Central Asia NFC Payments Market by Type (USD Million) [2024-2031]
- 17.6 Central Asia NFC Payments Market by Application (USD Million) [2024-2031]
Chapter 18 : Oceania NFC Payments Market Breakdown by Country, Type & Application
- 18.1 Oceania NFC Payments Market by Country (USD Million) [2019-2023]
- 18.1.1 Australia
- 18.1.2 New Zealand
- 18.1.3 Others
-
18.2 Oceania NFC Payments Market by Type (USD Million) [2019-2023]
- 18.2.1 Mobile Wallets
- 18.2.2 Contactless Cards
- 18.2.3 Mobile POS
- 18.2.4 Wearables
- 18.2.5 IoT-enabled
-
18.3 Oceania NFC Payments Market by Application (USD Million) [2019-2023]
- 18.3.1 Retail
- 18.3.2 Finance
- 18.3.3 E-commerce
- 18.3.4 Banking
- 18.3.5 Public Services
- 18.4 Oceania NFC Payments Market by Country (USD Million) [2024-2031]
- 18.5 Oceania NFC Payments Market by Type (USD Million) [2024-2031]
- 18.6 Oceania NFC Payments Market by Application (USD Million) [2024-2031]
Chapter 19 : MEA NFC Payments Market Breakdown by Country, Type & Application
- 19.1 MEA NFC Payments Market by Country (USD Million) [2019-2023]
- 19.1.1 Turkey
- 19.1.2 South Africa
- 19.1.3 Egypt
- 19.1.4 UAE
- 19.1.5 Saudi Arabia
- 19.1.6 Israel
- 19.1.7 Rest of MEA
-
19.2 MEA NFC Payments Market by Type (USD Million) [2019-2023]
- 19.2.1 Mobile Wallets
- 19.2.2 Contactless Cards
- 19.2.3 Mobile POS
- 19.2.4 Wearables
- 19.2.5 IoT-enabled
-
19.3 MEA NFC Payments Market by Application (USD Million) [2019-2023]
- 19.3.1 Retail
- 19.3.2 Finance
- 19.3.3 E-commerce
- 19.3.4 Banking
- 19.3.5 Public Services
- 19.4 MEA NFC Payments Market by Country (USD Million) [2024-2031]
- 19.5 MEA NFC Payments Market by Type (USD Million) [2024-2031]
- 19.6 MEA NFC Payments Market by Application (USD Million) [2024-2031]
Chapter 20: Research Findings & Conclusion
- 20.1 Key Findings
- 20.2 Conclusion
Chapter 21: Methodology and Data Source
-
21.1 Research Methodology & Approach
- 21.1.1 Research Program/Design
- 21.1.2 Market Size Estimation
- 21.1.3 Market Breakdown and Data Triangulation
-
21.2 Data Source
- 21.2.1 Secondary Sources
- 21.2.2 Primary Sources
Chapter 22: Appendix & Disclaimer
- 22.1 Acronyms & bibliography
- 22.2 Disclaimer
Frequently Asked Questions (FAQ):
The NFC Payments Market is growing at a steady pace over the last few years and is expected to grow at a CAGR of 23% from 2023 to 2031 to reach a market size of 23% 35Billion
The NFC Payments Market is estimated to grow at a CAGR of 23%, currently pegged at 14Billion.
Some of the prominent trends that are influencing and driving the growth of Global NFC Payments Market are Convenience, Speed, Global Adoption
The leaders in the Global NFC Payments Market such as Gemalto (Netherlands), Infineon (Germany), Ingenico (France), Wirecard (Germany), Verifone (United States), Giesecke+Devrient (Germany), IDEMIA (France), On Track Innovations (Israel), Identiv (United States), CPI Card Group (United States) are targeting innovative and differentiated growth drivers some of them are Increased Customer Satisfaction And Improved Loyalty Programs,,
Enhanced Purchase Experience,,
Some of the major challanges seen in Global NFC Payments Market are Security Concerns, Technological Compatibility.
The market opportunity is clear from the flow of investment into Global NFC Payments Market, some of them are Rising Demand For Wearable Payment Devices, And Growing Internet Penetration, An Expanding Mobile Subscriber Base, And The Rising Number Of IoT Devices, An Increasing Number Of Developed And Emerging Economies Across The World Are Witnessing A Significant Surge In Digitization, .
Gemalto (Netherlands), Infineon (Germany), Ingenico (France), Wirecard (Germany), Verifone (United States), Giesecke+Devrient (Germany), IDEMIA (France), On Track Innovations (Israel), Identiv (United States), CPI Card Group (United States) etc are the main players listed in the Global NFC Payments Market Study.
The Global NFC Payments Market Study is Broken down by applications such as Retail, Finance, E-commerce, Banking, Public Services.
The Global NFC Payments Market Study is segmented by Mobile Wallets, Contactless Cards, Mobile POS, Wearables, IoT-enabled.
The Global NFC Payments Market Study includes regional breakdown as North America, LATAM, West Europe,Central & Eastern Europe, Northern Europe, Southern Europe, East Asia, Southeast Asia, South Asia, Central Asia, Oceania, MEA
The NFC Payments Market is studied from 2019 - 2031.
Over the years some huge technological advancements in the department of finance and payments have seen. The intervention of technology has totally changed the way to make payments today. With internet banking, mobile banking, and mobile wallet payments, users no longer are dependent on cash. With time, users are witnessing new technologies being used to make the payment experience better than ever. And one of these technologies is NFC.NFC payments which are also known as contactless payments have gained immense popularity throughout the world. NFC stands for Near Field Communication. It’s a technology that enables users to securely transmit and receive information through their phones over a short-range (usually 4 cm). NFC is an upgrade of the existing RFID technology which combines both the reader and the smartcard interface into a single device.
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