Contactless Payment Transaction Market: Projected To Witness Vigorous Expansion By 2016 - 2024
The global contactless payment transaction market is predicted in a report by Transparency Market Research (TMR) to witness a high level of competition among manufacturers. The report also notes that there could be a significantly aggressive seller scene observed in the market due to the entry of large and small players. The market is expected to find intense rivalry within different end-use industries on the part of contactless payment transaction. Influx of new members could increase rivalry and fracture in the consideration of administration costs. Top market leaders such as Ingenico Group, Gemalto N.V., and Barclays could make their presence known in the industry. TMR prognosticates the global contactless payment transaction market to rise at a 55.5% CAGR between 2017 and 2025 to be valued at an US$801.4 bn by the final forecast year. By mode of payment, contactless card (NFC/RFID) could collect a larger share of the market in the near term. By region, Europe is a...