NFC Payments Market By Device Type (Smartphones, Smartwatches, Tablets, EMV Cards, Others), By End User (Retail Stores, Hospitality, Healthcare Services, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032

Description

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According to a new report published by Allied Market Research, titled, "NFC Payments Market," The nfc payments market was valued at $25.8 billion in 2022, and is estimated to reach $507.1 billion by 2032, growing at a CAGR of 35.9% from 2023 to 2032.

NFC, or Near Field Communication, is a transformative technology that empowers consumers to execute payments seamlessly through mobile wallet applications on their smartphones, as well as via NFC-enabled credit and debit cards. It facilitates communication between two NFC-enabled devices when they are brought into close proximity, usually within a range of about 4 centimeters. This innovative technology highlights contactless payments, enabling consumers to make secure transactions simply by 'tapping' their NFC-enabled smartphones or NFC-enabled cards on NFC payment acceptance devices. The convenience and efficiency offered by NFC contactless payment technology have led in a new era of digital transactions, enhancing the overall payment experience for users worldwide.

NFC technology has emerged as a game-changer in the world of payment transactions, offering a multitude of benefits for businesses. One of the standout advantages is the remarkable speed it brings to payment processing, resulting in reduced wait times for customers and streamlined operations at a higher speed. The use of NFC payments speeds up the checkout process, leading to increased customer satisfaction, which is a vital factor for any business. In addition, NFC contactless payments significantly reduce the time per transaction, which is a pivotal operational efficiency for businesses handling a high volume of transactions at the checkout. The combination of happier customers and more efficient operations directly impacts the bottom line, making NFC technology a valuable asset for businesses of all sizes.

However, it is worth noting that NFC payment devices, despite their convenience, may encounter limitations when used internationally. Certain mobile wallets designed for contactless payments may not be universally accepted. Users may face instances where their preferred mobile payment solution is not recognized in foreign markets. In addition, there is the possibility of incurring additional foreign transaction fees, further highlighting the importance of checking compatibility and fees before relying solely on mobile NFC payments when traveling internationally.

NFC payments offer a remarkable level of convenience that has transformed the way financial transactions are conducted. One of the standout advantages of NFC technology is the sheer ease it brings to users when making payments through their smartphones and tablets. The payment process is not only straightforward but also incredibly user-friendly, making physical cash or cards obsolete. With the power of NFC, users can effortlessly complete transactions with a simple touch or a few taps on their smartphones, adding an extra layer of convenience to their daily lives. In addition to user convenience, businesses that embrace NFC payments benefit significantly as well. Accepting payments becomes a seamless process, allowing funds to smoothly flow into their accounts without the hassle of card swiping or additional processing time. This efficiency not only streamlines operations but also enhances the overall customer experience, making NFC payments a win-win solution for both consumers and businesses.

The COVID-19 pandemic had a profound and long-lasting impact on the NFC (Near Field Communication) payments industry. As the world faced the pandemic's far-reaching consequences, the way people performed financial transactions experienced a significant transformation. With cleanliness and security at the forefront of consumer concerns, the contactless aspect of NFC payments became an enticing and practical option. This technology enabled users to make transactions without making physical contact with currency or cards, perfectly coinciding with the urge to minimize physical encounters. Furthermore, as businesses and governments sought ways to promote secure and convenient transactions in a globe impacted by lockdowns and social distancing measures, the pandemic drove the development of NFC payment solutions

Some of the leading NFC payments market players are Google Pay, Apple Pay, Mastercard Paypass, Visa Paywave, Samsung Pay, PayPal, Venmo, Square Wallet, Pomelo Pay, and WePay. The market players are continuously striving to achieve a dominant position in this competitive market using strategies such as collaborations and acquisitions.

Key Benefits For Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the nfc payments market analysis from 2022 to 2032 to identify the prevailing nfc payments market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the nfc payments market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global nfc payments market trends, key players, market segments, application areas, and market growth strategies.

Additional benefits you will get with this purchase are:

Quarterly Update and* (only available with a corporate license, on listed price)
5 additional Company Profile of client Choice pre- or Post-purchase, as a free update.
Free Upcoming Version on the Purchase of Five and Enterprise User License.
16 analyst hours of support* (post-purchase, if you find additional data requirements upon review of the report, you may receive support amounting to 16 analyst hours to solve questions, and post-sale queries)
15% Free Customization* (in case the scope or segment of the report does not match your requirements, 15% is equivalent to 3 working days of free work, applicable once)
Free data Pack on the Five and Enterprise User License. (Excel version of the report)
Free Updated report if the report is 6-12 months old or older.
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Free Industry updates and white papers.

Possible Customization with this report (with additional cost and timeline, please talk to the sales executive to know more)

Supply Chain Analysis & Vendor Margins
Technology Trend Analysis
Market share analysis of players by products/segments
New Product Development/ Product Matrix of Key Players
Patient/epidemiology data at country, region, global level
Regulatory Guidelines
Additional company profiles with specific to client's interest
Additional country or region analysis- market size and forecast
Criss-cross segment analysis- market size and forecast
Expanded list for Company Profiles
Historic market data
Key player details (including location, contact details, supplier/vendor network etc. in excel format)
List of customers/consumers/raw material suppliers- value chain analysis
SWOT Analysis

Key Market Segments

By Device Type

Smartphones
Smartwatches
Tablets
EMV Cards
Others

By End User

Retail Stores
Hospitality
Healthcare Services
Others

By Region

North America
- U.S.
- Canada
- Mexico
Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
LAMEA
- Brazil
- Saudi Arabia
- United Arab Emirates
- South Africa
- Rest of LAMEA

Key Market Players:

Alphabet Inc. (Google LLC)
Apple Pay
Mastercard Incorporated.
Visa Inc.
Samsung Pay
PayPal
Venmo
Block, Inc.
AMERICAN EXPRESS COMPANY
One97 Communications

Product Code: A08282

CHAPTER 1: INTRODUCTION

1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research methodology
- 1.4.1. Primary research
- 1.4.2. Secondary research
- 1.4.3. Analyst tools and models

CHAPTER 2: EXECUTIVE SUMMARY

2.1. CXO Perspective

CHAPTER 3: MARKET OVERVIEW

3.1. Market definition and scope
3.2. Key findings
- 3.2.1. Top impacting factors
- 3.2.2. Top investment pockets
3.3. Porter's five forces analysis
3.4. Market dynamics
- 3.4.1. Drivers
- 3.4.2. Restraints
- 3.4.3. Opportunities
3.5. Average Selling Price
3.6. Market Share Analysis
3.7. Brand Share Analysis
3.8. Trade Data Analysis
3.9. Product Consumption
3.10. Value Chain Analysis
3.11. Key Regulation Analysis
3.12. Patent Landscape
3.13. Reimbursement Scenario
3.14. Regulatory Guidelines

CHAPTER 4: NFC PAYMENTS MARKET, BY DEVICE TYPE

4.1. Overview
- 4.1.1. Market size and forecast
4.2. Smartphones
- 4.2.1. Key market trends, growth factors and opportunities
- 4.2.2. Market size and forecast, by region
- 4.2.3. Market share analysis by country
4.3. Smartwatches
- 4.3.1. Key market trends, growth factors and opportunities
- 4.3.2. Market size and forecast, by region
- 4.3.3. Market share analysis by country
4.4. Tablets
- 4.4.1. Key market trends, growth factors and opportunities
- 4.4.2. Market size and forecast, by region
- 4.4.3. Market share analysis by country
4.5. EMV Cards
- 4.5.1. Key market trends, growth factors and opportunities
- 4.5.2. Market size and forecast, by region
- 4.5.3. Market share analysis by country
4.6. Others
- 4.6.1. Key market trends, growth factors and opportunities
- 4.6.2. Market size and forecast, by region
- 4.6.3. Market share analysis by country

CHAPTER 5: NFC PAYMENTS MARKET, BY END USER

5.1. Overview
- 5.1.1. Market size and forecast
5.2. Retail Stores
- 5.2.1. Key market trends, growth factors and opportunities
- 5.2.2. Market size and forecast, by region
- 5.2.3. Market share analysis by country
5.3. Hospitality
- 5.3.1. Key market trends, growth factors and opportunities
- 5.3.2. Market size and forecast, by region
- 5.3.3. Market share analysis by country
5.4. Healthcare Services
- 5.4.1. Key market trends, growth factors and opportunities
- 5.4.2. Market size and forecast, by region
- 5.4.3. Market share analysis by country
5.5. Others
- 5.5.1. Key market trends, growth factors and opportunities
- 5.5.2. Market size and forecast, by region
- 5.5.3. Market share analysis by country

CHAPTER 6: NFC PAYMENTS MARKET, BY REGION

6.1. Overview
- 6.1.1. Market size and forecast By Region
6.2. North America
- 6.2.1. Key market trends, growth factors and opportunities
- 6.2.2. Market size and forecast, by Device Type
- 6.2.3. Market size and forecast, by End User
- 6.2.4. Market size and forecast, by country
  - 6.2.4.1. U.S.
  - 6.2.4.1.1. Market size and forecast, by Device Type
  - 6.2.4.1.2. Market size and forecast, by End User
  - 6.2.4.2. Canada
  - 6.2.4.2.1. Market size and forecast, by Device Type
  - 6.2.4.2.2. Market size and forecast, by End User
  - 6.2.4.3. Mexico
  - 6.2.4.3.1. Market size and forecast, by Device Type
  - 6.2.4.3.2. Market size and forecast, by End User
6.3. Europe
- 6.3.1. Key market trends, growth factors and opportunities
- 6.3.2. Market size and forecast, by Device Type
- 6.3.3. Market size and forecast, by End User
- 6.3.4. Market size and forecast, by country
  - 6.3.4.1. Germany
  - 6.3.4.1.1. Market size and forecast, by Device Type
  - 6.3.4.1.2. Market size and forecast, by End User
  - 6.3.4.2. UK
  - 6.3.4.2.1. Market size and forecast, by Device Type
  - 6.3.4.2.2. Market size and forecast, by End User
  - 6.3.4.3. France
  - 6.3.4.3.1. Market size and forecast, by Device Type
  - 6.3.4.3.2. Market size and forecast, by End User
  - 6.3.4.4. Spain
  - 6.3.4.4.1. Market size and forecast, by Device Type
  - 6.3.4.4.2. Market size and forecast, by End User
  - 6.3.4.5. Italy
  - 6.3.4.5.1. Market size and forecast, by Device Type
  - 6.3.4.5.2. Market size and forecast, by End User
  - 6.3.4.6. Rest of Europe
  - 6.3.4.6.1. Market size and forecast, by Device Type
  - 6.3.4.6.2. Market size and forecast, by End User
6.4. Asia-Pacific
- 6.4.1. Key market trends, growth factors and opportunities
- 6.4.2. Market size and forecast, by Device Type
- 6.4.3. Market size and forecast, by End User
- 6.4.4. Market size and forecast, by country
  - 6.4.4.1. China
  - 6.4.4.1.1. Market size and forecast, by Device Type
  - 6.4.4.1.2. Market size and forecast, by End User
  - 6.4.4.2. Japan
  - 6.4.4.2.1. Market size and forecast, by Device Type
  - 6.4.4.2.2. Market size and forecast, by End User
  - 6.4.4.3. India
  - 6.4.4.3.1. Market size and forecast, by Device Type
  - 6.4.4.3.2. Market size and forecast, by End User
  - 6.4.4.4. South Korea
  - 6.4.4.4.1. Market size and forecast, by Device Type
  - 6.4.4.4.2. Market size and forecast, by End User
  - 6.4.4.5. Australia
  - 6.4.4.5.1. Market size and forecast, by Device Type
  - 6.4.4.5.2. Market size and forecast, by End User
  - 6.4.4.6. Rest of Asia-Pacific
  - 6.4.4.6.1. Market size and forecast, by Device Type
  - 6.4.4.6.2. Market size and forecast, by End User
6.5. LAMEA
- 6.5.1. Key market trends, growth factors and opportunities
- 6.5.2. Market size and forecast, by Device Type
- 6.5.3. Market size and forecast, by End User
- 6.5.4. Market size and forecast, by country
  - 6.5.4.1. Brazil
  - 6.5.4.1.1. Market size and forecast, by Device Type
  - 6.5.4.1.2. Market size and forecast, by End User
  - 6.5.4.2. Saudi Arabia
  - 6.5.4.2.1. Market size and forecast, by Device Type
  - 6.5.4.2.2. Market size and forecast, by End User
  - 6.5.4.3. United Arab Emirates
  - 6.5.4.3.1. Market size and forecast, by Device Type
  - 6.5.4.3.2. Market size and forecast, by End User
  - 6.5.4.4. South Africa
  - 6.5.4.4.1. Market size and forecast, by Device Type
  - 6.5.4.4.2. Market size and forecast, by End User
  - 6.5.4.5. Rest of LAMEA
  - 6.5.4.5.1. Market size and forecast, by Device Type
  - 6.5.4.5.2. Market size and forecast, by End User

CHAPTER 7: COMPETITIVE LANDSCAPE

7.1. Introduction
7.2. Top winning strategies
7.3. Product mapping of top 10 player
7.4. Competitive dashboard
7.5. Competitive heatmap
7.6. Top player positioning, 2022

CHAPTER 8: COMPANY PROFILES

8.1. Alphabet Inc. (Google LLC)
- 8.1.1. Company overview
- 8.1.2. Key executives
- 8.1.3. Company snapshot
8.2. Apple Pay
- 8.2.1. Company overview
- 8.2.2. Key executives
- 8.2.3. Company snapshot
8.3. Mastercard Incorporated.
- 8.3.1. Company overview
- 8.3.2. Key executives
- 8.3.3. Company snapshot
8.4. Visa Inc.
- 8.4.1. Company overview
- 8.4.2. Key executives
- 8.4.3. Company snapshot
8.5. Samsung Pay
- 8.5.1. Company overview
- 8.5.2. Key executives
- 8.5.3. Company snapshot
8.6. PayPal
- 8.6.1. Company overview
- 8.6.2. Key executives
- 8.6.3. Company snapshot
8.7. Venmo
- 8.7.1. Company overview
- 8.7.2. Key executives
- 8.7.3. Company snapshot
8.8. Block, Inc.
- 8.8.1. Company overview
- 8.8.2. Key executives
- 8.8.3. Company snapshot
8.9. AMERICAN EXPRESS COMPANY
- 8.9.1. Company overview
- 8.9.2. Key executives
- 8.9.3. Company snapshot
8.10. One97 Communications
- 8.10.1. Company overview
- 8.10.2. Key executives
- 8.10.3. Company snapshot