QR Codes Payment Market Size - By Offerings, By Transaction Channel, By Payment Type, By End User & Forecast, 2024 - 2032

PUBLISHED: June 27, 2024

PAGES: 210 Pages

DELIVERY TIME: 2-3 business days

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Description

Global QR Codes Payment Market share will garner a 15% CAGR from 2024 to 2032, fueled by continuous improvements in QR code technology and digital wallet integration. Enhanced QR code functionalities offer faster, more secure transactions, while seamless integration with digital wallets ensures a smooth user experience. These advancements boost consumer confidence and adoption, making QR code payments more accessible and convenient. As technology evolves, businesses and consumers increasingly prefer these efficient payment solutions, propelling the market's expansion and reinforcing its role in the digital economy.

For instance, in April 2024, Cred introduced an offline QR code 'Scan & Pay' service for merchants, allowing members to make UPI payments directly from bank accounts using any QR code. This marks Cred's entry into the offline payments space. This move highlights the growing competition and innovation in the offline payments space, enhancing the accessibility and convenience of QR code payments. As a new entrant, Cred's participation is likely to drive further market expansion and push for more advanced and user-friendly payment solutions globally.

The QR codes payment industry is divided based on offerings, transaction channel, payment type, end user, and region.

The hospitality & leisure segment will observe a noteworthy surge between 2024 and 2032 due to its rapid adoption of digital payment solutions. The sector's emphasis on enhancing customer experience and streamlining transactions drives the integration of QR codes, allowing for quick, contactless payments at hotels, restaurants, and entertainment venues. This convenience and efficiency attract both businesses and consumers, fostering widespread use. As the demand for seamless payment methods grows, the hospitality and leisure segment will continue to dominate the market.

The face-to-face segment will experience a marked upturn through 2032, propelled by its convenience and security in physical transactions. Retailers, restaurants, and service providers increasingly adopt QR code payments to enhance customer experience with fast, contactless transactions. This method's ease of use and growing consumer familiarity drive its widespread implementation. As businesses seek efficient and hygienic payment solutions, the face-to-face segment continues to dominate the QR codes payment market, leading to significant market growth.

North America QR codes payment industry share will achieve an ample share from 2024 to 2032, attributed to its advanced technological infrastructure, high smartphone penetration, and growing preference for contactless payment solutions. The region's robust financial ecosystem and widespread adoption of digital payment methods support the rapid integration of QR code payments across various industries. Besides, innovative payment technologies and strong consumer demand for seamless transaction experiences make North America a primary contributor to the market's expansion and overall growth.

Product Code: 10029

Chapter 1 Methodology & Scope

1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
  - 1.4.2.1 Paid sources
  - 1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 Industry 360º synopsis, 2021 - 2032

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
3.2 Vendor matrix
3.3 Profit margin analysis
3.4 Technology & innovation landscape
3.5 Patent analysis
3.6 Key news and initiatives
3.7 Regulatory landscape
3.8 Impact forces
- 3.8.1 Growth drivers
  - 3.8.1.1 Integration with loyalty programs and discounts
  - 3.8.1.2 Partnerships with retailers and service providers
  - 3.8.1.3 Marketing and promotion by payment providers
  - 3.8.1.4 Integration with banking and fintech services
  - 3.8.1.5 Expansion of digital ecosystems
- 3.8.2 Industry pitfalls & challenges
  - 3.8.2.1 Fragmentation and lack of standardization
  - 3.8.2.2 Consumer awareness and adoption
3.9 Growth potential analysis
3.10 Porter's analysis
- 3.10.1 Supplier power
- 3.10.2 Buyer power
- 3.10.3 Threat of new entrants
- 3.10.4 Threat of substitutes
- 3.10.5 Industry rivalry
3.11 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix

Chapter 5 Market Estimates & Forecast, By Offerings, 2021 - 2032 (USD Billion)

5.1 Solution
- 5.1.1 Static QR code
  - 5.1.1.1 Merchant-presented QR code
  - 5.1.1.2 Customer-presented QR code
- 5.1.2 Dynamic QR code
5.2 services

Chapter 6 Market Estimates & Forecast, By Payment Type, 2021 - 2032 (USD Billion)

6.1 Push payment
6.2 Pull payment

Chapter 7 Market Estimates & Forecast, By Transaction Channel, 2021 - 2032 (USD Billion)

7.1 Face-to-face
7.2 Remote

Chapter 8 Market Estimates & Forecast, By End User, 2021 - 2032 (USD Billion)

8.1 Hospitality and Leisure
8.2 Retail & E-commerce
8.3 Transportation
8.4 Healthcare
8.5 Utilities
8.6 Education
8.7 Others

Chapter 9 Market Estimates & Forecast, By Region, 2021 - 2032 (USD Billion)

9.1 Key trends
9.2 North America
- 9.2.1 U.S.
- 9.2.2 Canada
9.3 Europe
- 9.3.1 UK
- 9.3.2 Germany
- 9.3.3 France
- 9.3.4 Italy
- 9.3.5 Spain
- 9.3.6 Rest of Europe
9.4 Asia Pacific
- 9.4.1 China
- 9.4.2 India
- 9.4.3 Japan
- 9.4.4 South Korea
- 9.4.5 ANZ
- 9.4.6 Rest of Asia Pacific
9.5 Latin America
- 9.5.1 Brazil
- 9.5.2 Mexico
- 9.5.3 Rest of Latin America
9.6 MEA
- 9.6.1 UAE
- 9.6.2 South Africa
- 9.6.3 Saudi Arabia
- 9.6.4 Rest of MEA