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2021
Proximity Payment Market

Proximity Payment Market by Offering (Solution and Service) and Application (Grocery Stores, Bars & Restaurants, Drug Stores, Entertainment Centers, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030

A10042
Pages: 312
Sep 2021 | 1812 Views
   
Author(s) : Pramod Borasi , Vineet Kumar
Tables: 113
Charts: 76
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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Proximity Payment Market Outlook – 2030

The global proximity payment market size was valued at $13.98 billion in 2020, and is projected to reach $46.80 billion by 2030, growing at a CAGR of 12.9% from 2021 to 2030.

In the wake of COVID-19 pandemic situation, preference for proximity payments have increased tremendously as merchants, banks, and fintech industries are aiming at reducing their operational cost and improving digital experience for their customers.

Proximity payment technology allows devices to communicate & conduct payment normally within a distance of 4 cm. This payment method allows to pay for goods and services by mobile phones & other devices at a physical point-of-sale (POS) terminal. Moreover, proximity payment is initiated from a mobile phone that uses Near Field Communication (NFC) technology. Furthermore, in NFC payment, the payment and reader devices must be near to each other to proceed with the transaction, so that NFC chips can interchange cryptographic data to complete the transaction.

Proximity-Payment-Market-2021-2030

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Real-time transaction processing, flexibility of payment devices, reduced transaction time, and increase in convenience are some of the major benefits provided by proximity payment market, which propels the market growth. In addition, massive adoption of proximity payment among merchants and rise in usage of smartphones & surge in faster connectivity have enabled retailers and customers to conduct proximity payment via their smartphones propel growth of the market. However, increase in data breaches and difficulties in replacement process of point-of-sale (POS) terminal hamper growth of the market. On the contrary, developing economies offer significant opportunities for proximity payment companies to expand their offerings, owing to factors such as growth in the middle-class segment, rapid urbanization, rise in literacy level, and increase in tech-savvy youth generation. Moreover, growth in developments & initiatives toward digitalized payments is anticipated to provide a potential growth opportunity for the market.

The report focuses on growth prospects, restraints, and trends of the proximity payment market analysis. The study provides Porter’s five forces analysis to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the proximity payment market outlook.

Proximity Payment Market
By Offering

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Solution segment accounted for the highest market share in 2020.

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Segment Review

The proximity payment market is segmented into offering, application, and region. By offering, the market is bifurcated into solution and service. The solutions segment is further segregated into hardware and software. Applications covered in the study include grocery stores, bars & restaurants, drug stores, entertainment centers, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The proximity payment market analysis includes top companies operating in the market such as ACI Worldwide, Inc., Alphabet Inc. (Google), Apple Inc., FIS, IDEMIA, Ingenico, Mastercard, PayPal Holdings Inc., Square, Inc., and Visa Inc.. These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, regional expansion, and collaboration, to enhance their market penetration.

Proximity Payment Market
By Application

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Grocery Stores segment accounted for the highest market share in 2020.

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COVID-19 Impact Analysis

COVID-19 pandemic has a significant impact on the proximity payment industry, owing to increase in usage and adoption of online & digitalized payment methods among consumers globally. Moreover, banks and retailers are responding to COVID-19 fears by raising limits on their proximity payment transactions so that higher value payments can be made without the need to touch the terminal. This, in turn, has become one of the major growth factors for the proximity payment market during the global health crisis.

Proximity Payment Market
By Region

2030
Asia-pacific 
North America
Europe
Lamea

Asia-Pacific would exhibit the highest CAGR of 14.0% during 2021-2030

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Top Impacting Factors

Increase in Adoption of Smartphones and Access to High-Speed Internet

Rate of adoption of smartphones in countries such as Canada, China, and India have significantly increased in past few years. In addition, proliferation of 3G and 4G connectivity has enabled customers to have hassle-free access to conduct payments on their smartphones. Moreover, 5G network is gaining traction across North America, Asia, Europe, and the Middle East, which further propels the proximity payment market growth. Furthermore, extensive growth in distribution network of smartphone companies has made smartphone devices easily available for end users. For instance, Samsung, Micromax, and Karbonn are major mobile phone brands in rural India, owing to their pan India distribution channel, thus making proximity payment market accessible for rural population via their mobile phones. Rise in use of smartphones and surge in faster connectivity have enabled retailers and customers to receive and make proximity payment via their smartphones, which propels growth of the market.

Rise in Data Breaches and Security Issues While Conducting Payments

Innovative payment technologies offer substantial advantages and convenience to customers; however, increase in data breaches and security concerns hinder growth of the market. Consumers are hesitant to make payments via proximity payment, as they are concerned about the risk of their financial information being accessed by third-party mobile service providers. Moreover, risk of identity theft and data breaches is also expected to rise in the coming years. This is attributed to use of public Wi-Fi, vulnerabilities in passwords, and phishing attacks. Furthermore, scammers replace proximity payment at merchant outlet with their codes and customers end up making payment to fraudsters instead of merchants. All these factors together lead to high risks while making proximity payment, which hampers the market growth.  

Rapid Digitalization in Payments Sector

In the post-pandemic society, digital currencies, biometrics, and proximity payment are becoming more common and are widely accepted among consumers to decrease usage of cash. Furthermore, according to a recent payment tracker report of PYMNTS.com, which is a global leader for data, news and insights on innovation in payments, projected that technology is expanding to new use cases as its adoption continues to provide contactless options for restaurants, retailers, and contact tracing for COVID-19 tracking in the UK. In addition, introduction of dynamic proximity payment market allows merchants to scan codes of consumers where the system automatically detects fraud. Therefore, these number of growing developments & initiatives toward digitalized payments sector are anticipated to provide a potential growth opportunity for the market.  

Key Benefits for Stakeholders

  • The study provides in-depth analysis of the global proximity payment market share along with current trends and future estimations to illustrate the imminent investment pockets.
  • Information about key drivers, restrains, and opportunities and their impact analysis on the global proximity payment market size are provided in the report.
  • Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the proximity payment market.
  • An extensive analysis of the key segments of the industry helps to understand the proximity payment market trends.
  • The quantitative analysis of the global proximity payment market forecast from 2021 to 2030 is provided to determine the market potential. 

Key Market Segments

  • BY OFFERING
    • Solution
    • Service
  • BY APPLICATION
    • Grocery Stores
    • Bars & Restaurants
    • Drug Stores
    • Entertainment Centers
    • Others
  • BY REGION
    • North America
    • Europe
    • Asia-Pacific
    • LAMEA


Key Market Players

  • ACI Worldwide, In
  • Alphabet Inc. (Google)
  • APPLE INC.
  • FIS
  • IDEMIA
  • INGENICO
  • Mastercard
  • PayPal Holdings Inc
  • SQUARE, INC
  • Visa Inc
 

CHAPTER 1:INTRODUCTION

1.1.Report description
1.2.Key benefits for stakeholders
1.3.Key market segments
1.4.Research methodology

1.4.1.Secondary research
1.4.2.Primary research
1.4.3.Analyst tools and models

CHAPTER 2:EXECUTIVE SUMMARY

2.1.Key findings

2.1.1.Top impacting factors
2.1.2.Top investment pockets

2.2.CXO perspective

CHAPTER 3:MARKET OVERVIEW

3.1.Market definition and scope
3.2.Key forces shaping global proximity payment market
3.3.Basic Architecture of a Proximity M-Payment System
3.4.Proximity Payment Processing Cycle
3.5.Impact of government regulations on the global proximity payment market
3.6.Market dynamics

3.6.1.Drivers

3.6.1.1.Increased penetration of smartphones and access to high-speed internet
3.6.1.2.Massive adoption of proximity payments among merchants
3.6.1.3.Numerous benefits provided by proximity payments

3.6.2.Restraint

3.6.2.1.Difficulties in the replacement process of point-of-sale (POS) terminal
3.6.2.2.Rise in data breaches and security issues while conducting payments

3.6.3.Opportunity

3.6.3.1.Surge in adoption of proximity payments payment in emerging countries
3.6.3.2.Rapid digitalization in payments sector

3.7.Patent analysis

3.7.1.By region (2000-2020)
3.7.2.By applicant

3.8.COVID-19 impact analysis on proximity payment market

3.8.1.Impact on proximity payment market size
3.8.2.Consumer trends, preferences, and budget impact
3.8.3.Framework for market challenges faced by proximity payment providers
3.8.4.Economic impact on proximity payment providers
3.8.5.Key player strategies to tackle negative impact on the industry
3.8.6.Opportunity analysis for proximity payment providers

CHAPTER 4:PROXIMITY PAYMENT MARKET, BY OFFERING

4.1.Overview
4.2.Solution

4.2.1.Key market trends, growth factors, and opportunities
4.2.2.Market size and forecast, by region
4.2.3.Market analysis, by country
4.2.4.Proximity payment market, by solution

4.2.4.1.Hardware

4.2.4.1.1.Market size and forecast, by region
4.2.4.1.2.Market analysis, by country

4.2.4.2.Software

4.2.4.2.1.Market size and forecast, by region
4.2.4.2.2.Market analysis, by country

4.3.Service

4.3.1.Key market trends, growth factors, and opportunities
4.3.2.Market size and forecast, by region
4.3.3.Market analysis, by country

CHAPTER 5:PROXIMITY PAYMENT MARKET, BY APPLICATION

5.1.Overview
5.2.Grocery Stores

5.2.1.Key market trends, growth factors, and opportunities
5.2.2.Market size and forecast, by region
5.2.3.Market analysis, by country

5.3.Bars & Restaurants

5.3.1.Key market trends, growth factors, and opportunities
5.3.2.Market size and forecast, by region
5.3.3.Market analysis, by country

5.4.Drug Stores

5.4.1.Key market trends, growth factors, and opportunities
5.4.2.Market size and forecast, by region
5.4.3.Market analysis, by country

5.5.Entertainment Centers

5.5.1.Key market trends, growth factors, and opportunities
5.5.2.Market size and forecast, by region
5.5.3.Market analysis, by country

5.6.Others

5.6.1.Key market trends, growth factors, and opportunities
5.6.2.Market size and forecast, by region
5.6.3.Market analysis, by country

CHAPTER 6:PROXIMITY PAYMENT MARKET, BY REGION

6.1.Overview

6.1.1.Market size and forecast

6.2.North America

6.2.1.Key market trends, growth factors, and opportunities
6.2.2.Market size and forecast, by offering
6.2.3.Market size and forecast, for proximity payment market, by solution
6.2.5.Market size and forecast, by application
6.2.7.Market analysis, by country

6.2.7.1.U.S.

6.2.7.1.1.Market size and forecast, by offering
6.2.7.1.2.Market size and forecast, by solution
6.2.7.1.4.Market size and forecast, by application

6.2.7.2.Canada

6.2.7.2.1.Market size and forecast, by offering
6.2.7.2.2.Market size and forecast, by solution
6.2.7.2.4.Market size and forecast, by application

6.3.Europe

6.3.1.Key market trends, growth factors, and opportunities
6.3.2.Market size and forecast, by offering
6.3.3.Market size and forecast, for proximity payment market, by solution
6.3.5.Market size and forecast, by application
6.3.7.Market analysis, by country

6.3.7.1.UK

6.3.7.1.1.Market size and forecast, by offering
6.3.7.1.2.Market size and forecast, by solution
6.3.7.1.4.Market size and forecast, by application

6.3.7.2.Germany

6.3.7.2.1.Market size and forecast, by offering
6.3.7.2.2.Market size and forecast, by solution
6.3.7.2.4.Market size and forecast, by application

6.3.7.3.France

6.3.7.3.1.Market size and forecast, by offering
6.3.7.3.2.Market size and forecast, by solution
6.3.7.3.4.Market size and forecast, by application

6.3.7.4.Spain

6.3.7.4.1.Market size and forecast, by offering
6.3.7.4.2.Market size and forecast, by solution
6.3.7.4.3.Market size and forecast, by application

6.3.7.5.Russia

6.3.7.5.1.Market size and forecast, by offering
6.3.7.5.2.Market size and forecast, by solution
6.3.7.5.3.Market size and forecast, by application

6.3.7.6.The Netherlands

6.3.7.6.1.Market size and forecast, by offering
6.3.7.6.2.Market size and forecast, by solution
6.3.7.6.4.Market size and forecast, by application

6.3.7.7.Rest of Europe

6.3.7.7.1.Market size and forecast, by offering
6.3.7.7.2.Market size and forecast, by solution
6.3.7.7.4.Market size and forecast, by application

6.4.Asia-Pacific

6.4.1.Key market trends, growth factors, and opportunities
6.4.2.Market size and forecast, by offering
6.4.3.Market size and forecast, for proximity payment market, by solution
6.4.5.Market size and forecast, by application
6.4.6.Market analysis, by country

6.4.6.1.China

6.4.6.1.1.Market size and forecast, by offering
6.4.6.1.2.Market size and forecast, by solution
6.4.6.1.4.Market size and forecast, by application

6.4.6.2.India

6.4.6.2.1.Market size and forecast, by offering
6.4.6.2.2.Market size and forecast, by solution
6.4.6.2.4.Market size and forecast, by application

6.4.6.3.Japan

6.4.6.3.1.Market size and forecast, by offering
6.4.6.3.2.Market size and forecast, by solution
6.4.6.3.4.Market size and forecast, by application

6.4.6.4.Australia

6.4.6.4.1.Market size and forecast, by offering
6.4.6.4.2.Market size and forecast, by solution
6.4.6.4.4.Market size and forecast, by application

6.4.6.5.Singapore

6.4.6.5.1.Market size and forecast, by offering
6.4.6.5.2.Market size and forecast, by solution
6.4.6.5.4.Market size and forecast, by application

6.4.6.6.Rest of Asia-Pacific

6.4.6.6.1.Market size and forecast, by offering
6.4.6.6.2.Market size and forecast, by solution
6.4.6.6.4.Market size and forecast, by application

6.5.LAMEA

6.5.1.Key market trends, growth factors, and opportunities
6.5.2.Market size and forecast, by offering
6.5.3.Market size and forecast, for proximity payment market, by solution
6.5.5.Market size and forecast, by application
6.5.6.Market analysis, by country

6.5.6.1.Latin America

6.5.6.1.1.Market size and forecast, by offering
6.5.6.1.2.Market size and forecast, by solution
6.5.6.1.4.Market size and forecast, by application

6.5.6.2.Middle East

6.5.6.2.1.Market size and forecast, by offering
6.5.6.2.2.Market size and forecast, by solution
6.5.6.2.4.Market size and forecast, by application

6.5.6.3.Africa

6.5.6.3.1.Market size and forecast, by offering
6.5.6.3.2.Market size and forecast, by solution
6.5.6.3.4.Market size and forecast, by application

CHAPTER 7:COMPETITIVE LANDSCAPE

7.1.Introduction

7.1.1.Market player positioning, 2020

7.2.Competitive dashboard

7.2.1.Top winning strategies

CHAPTER 8:COMPANY PROFILES

8.1.ACI Worldwide, Inc.

8.1.1.Company overview
8.1.2.Company snapshot
8.1.3.Product portfolio
8.1.4.Business performance
8.1.5.Key strategic moves and developments

8.2.Alphabet Inc. (Google)

8.2.1.Company overview
8.2.2.Key executive
8.2.3.Company snapshot
8.2.4.Operating business segments
8.2.5.Product portfolio
8.2.6.R&D expenditure
8.2.7.Business performance

8.3.APPLE INC.

8.3.1.Company overview
8.3.2.Key executives
8.3.3.Company snapshot
8.3.4.Product portfolio
8.3.5.R&D expenditure
8.3.6.Business performance

8.4.FIS

8.4.1.Company overview
8.4.2.Company snapshot
8.4.3.Operating business segments
8.4.4.Product portfolio
8.4.5.Business performance
8.4.6.Key strategic moves and developments

8.5.IDEMIA

8.5.1.Company overview
8.5.2.Key executives
8.5.3.Company snapshot
8.5.4.Product portfolio

8.6.INGENICO

8.6.1.Company overview
8.6.2.Key Executives
8.6.3.Company snapshot
8.6.4.Product portfolio
8.6.5.Key strategic moves and developments

8.7.Mastercard

8.7.1.Company overview
8.7.2.Key executives
8.7.3.Company snapshot
8.7.4.Operating business segments
8.7.5.Product portfolio
8.7.6.Business performance
8.7.7.Key strategic moves and developments

8.8.PayPal Holdings Inc.

8.8.1.Company overview
8.8.2.Company snapshot
8.8.3.Operating business segments
8.8.4.Product portfolio
8.8.5.Business performance
8.8.6.Key strategic moves and developments

8.9.SQUARE, INC.

8.9.1.Company overview
8.9.2.Company snapshot
8.9.3.Product portfolio
8.9.4.Business performance
8.9.5.Key strategic moves and developments

8.10.Visa Inc.

8.10.1.Company overview
8.10.2.Key Executives
8.10.3.Company snapshot
8.10.4.Product portfolio
8.10.5.Business performance

LIST OF TABLES

TABLE 01.PROXIMITY PAYMENT MARKET, BY OFFERING, 2020-2030 ($MILLION)
TABLE 02.PROXIMITY PAYMENT MARKET REVENUE FOR SOLUTION, BY REGION, 2020-2030 ($MILLION)
TABLE 03.PROXIMITY PAYMENT MARKET, BY SOLUTION, 2020-2030 ($MILLION)
TABLE 04.PROXIMITY PAYMENT SOLUTION MARKET FOR HARDWARE, BY REGION, 2020–2030 ($MILLION)
TABLE 05.PROXIMITY PAYMENT SOLUTION MARKET FOR SOFTWARE, BY REGION, 2020–2030 ($MILLION)
TABLE 06.PROXIMITY PAYMENT MARKET FOR SERVICE, BY REGION, 2020-2030 ($MILLION)
TABLE 07.PROXIMITY PAYMENT MARKET REVENUE, BY APPLICATION, 2020-2030 ($MILLION)
TABLE 08.PROXIMITY PAYMENT MARKET FOR GROCERY STORES, BY REGION, 2020-2030 ($MILLION)
TABLE 09.PROXIMITY PAYMENT MARKET FOR BARS & RESTAURANTS, BY REGION, 2020-2030 ($MILLION)
TABLE 10.PROXIMITY PAYMENT MARKET FOR DRUG STORES, BY REGION, 2020-2030 ($MILLION)
TABLE 11.PROXIMITY PAYMENT MARKET REVENUE FOR ENTERTAINMENT CENTERS, BY REGION, 2020-2030 ($MILLION)
TABLE 12.PROXIMITY PAYMENT MARKET FOR OTHERS, BY REGION, 2020-2030 ($MILLION)
TABLE 13.PROXIMITY PAYMENT MARKET, BY REGION, 2020-2030 ($MILLION)
TABLE 14.NORTH AMERICA PROXIMITY PAYMENT MARKET REVENUE, BY OFFERING, 2020–2030 ($MILLION)
TABLE 15.NORTH AMERICA PROXIMITY PAYMENT MARKET, BY SOLUTION, 2020–2030 ($MILLION)
TABLE 16.NORTH AMERICA PROXIMITY PAYMENT MARKET REVENUE, BY APPLICATION, 2020–2030 ($MILLION)
TABLE 17.NORTH AMERICA PROXIMITY PAYMENT MARKET REVENUE, BY COUNTRY, 2020–2030 ($MILLION)
TABLE 18.U.S. PROXIMITY PAYMENT MARKET REVENUE, BY OFFERING, 2020–2030 ($MILLION)
TABLE 19.U.S. PROXIMITY PAYMENT MARKET, BY SOLUTION, 2020–2030 ($MILLION)
TABLE 20.U.S. PROXIMITY PAYMENT MARKET REVENUE, BY APPLICATION, 2020–2030 ($MILLION)
TABLE 21.CANADA PROXIMITY PAYMENT MARKET REVENUE, BY OFFERING, 2020–2030 ($MILLION)
TABLE 22.CANADA PROXIMITY PAYMENT MARKET, BY SOLUTION, 2020–2030 ($MILLION)
TABLE 23.CANADA PROXIMITY PAYMENT MARKET REVENUE, BY APPLICATION, 2020–2030 ($MILLION)
TABLE 24.EUROPE PROXIMITY PAYMENT MARKET REVENUE, BY OFFERING, 2020–2030 ($MILLION)
TABLE 25.EUROPE PROXIMITY PAYMENT MARKET, BY SOLUTION, 2020–2030 ($MILLION)
TABLE 26.EUROPE PROXIMITY PAYMENT MARKET REVENUE, BY APPLICATION, 2020–2030 ($MILLION)
TABLE 27.EUROPE PROXIMITY PAYMENT MARKET REVENUE, BY COUNTRY, 2020–2030 ($MILLION)
TABLE 28.UK PROXIMITY PAYMENT MARKET REVENUE, BY OFFERING, 2020–2030 ($MILLION)
TABLE 29.UK PROXIMITY PAYMENT MARKET, BY SOLUTION, 2020–2030 ($MILLION)
TABLE 30.UK PROXIMITY PAYMENT MARKET REVENUE, BY APPLICATION, 2020–2030 ($MILLION)
TABLE 31.GERMANY PROXIMITY PAYMENT MARKET REVENUE, BY OFFERING, 2020–2030 ($MILLION)
TABLE 32.GERMANY PROXIMITY PAYMENT MARKET, BY SOLUTION, 2020–2030 ($MILLION)
TABLE 33.GERMANY PROXIMITY PAYMENT MARKET REVENUE, BY APPLICATION, 2020–2030 ($MILLION)
TABLE 34.FRANCE PROXIMITY PAYMENT MARKET REVENUE, BY OFFERING, 2020–2030 ($MILLION)
TABLE 35.FRANCE PROXIMITY PAYMENT MARKET, BY SOLUTION, 2020–2030 ($MILLION)
TABLE 36.FRANCE PROXIMITY PAYMENT MARKET REVENUE, BY APPLICATION, 2020–2030 ($MILLION)
TABLE 37.SPAIN PROXIMITY PAYMENT MARKET REVENUE, BY OFFERING, 2020–2030 ($MILLION)
TABLE 38.SPAIN PROXIMITY PAYMENT MARKET, BY SOLUTION, 2020–2030 ($MILLION)
TABLE 39.SPAIN PROXIMITY PAYMENT MARKET REVENUE, BY APPLICATION, 2020–2030 ($MILLION)
TABLE 40.RUSSIA PROXIMITY PAYMENT MARKET REVENUE, BY OFFERING, 2020–2030 ($MILLION)
TABLE 41.RUSSIA PROXIMITY PAYMENT MARKET, BY SOLUTION, 2020–2030 ($MILLION)
TABLE 42.RUSSIA PROXIMITY PAYMENT MARKET REVENUE, BY APPLICATION, 2020–2030 ($MILLION)
TABLE 43.THE NETHERLANDS PROXIMITY PAYMENT MARKET REVENUE, BY OFFERING, 2020–2030 ($MILLION)
TABLE 44.THE NETHERLANDS PROXIMITY PAYMENT MARKET, BY SOLUTION, 2020–2030 ($MILLION)
TABLE 45.THE NETHERLANDS PROXIMITY PAYMENT MARKET REVENUE, BY APPLICATION, 2020–2030 ($MILLION)
TABLE 46.REST OF EUROPE PROXIMITY PAYMENT MARKET REVENUE, BY OFFERING, 2020–2030 ($MILLION)
TABLE 47.REST OF EUROPE PROXIMITY PAYMENT MARKET, BY SOLUTION, 2020–2030 ($MILLION)
TABLE 48.REST OF EUROPE PROXIMITY PAYMENT MARKET REVENUE, BY APPLICATION, 2020–2030 ($MILLION)
TABLE 49.ASIA-PACIFIC PROXIMITY PAYMENT MARKET REVENUE, BY OFFERING, 2020–2030 ($MILLION)
TABLE 50.ASIA-PACIFIC PROXIMITY PAYMENT MARKET, BY SOLUTION, 2020–2030 ($MILLION)
TABLE 51.ASIA-PACIFIC PROXIMITY PAYMENT MARKET REVENUE, BY APPLICATION, 2020–2030 ($MILLION)
TABLE 52.ASIA-PACIFIC PROXIMITY PAYMENT MARKET REVENUE, BY COUNTRY, 2020–2030 ($MILLION)
TABLE 53.CHINA PROXIMITY PAYMENT MARKET REVENUE, BY OFFERING, 2020–2030 ($MILLION)
TABLE 54.CHINA PROXIMITY PAYMENT MARKET, BY SOLUTION, 2020–2030 ($MILLION)
TABLE 55.CHINA PROXIMITY PAYMENT MARKET REVENUE, BY APPLICATION, 2020–2030 ($MILLION)
TABLE 56.INDIA PROXIMITY PAYMENT MARKET REVENUE, BY OFFERING, 2020–2030 ($MILLION)
TABLE 57.INDIA PROXIMITY PAYMENT MARKET, BY SOLUTION, 2020–2030 ($MILLION)
TABLE 58.INDIA PROXIMITY PAYMENT MARKET REVENUE, BY APPLICATION, 2020–2030 ($MILLION)
TABLE 59.JAPAN PROXIMITY PAYMENT MARKET REVENUE, BY OFFERING, 2020–2030 ($MILLION)
TABLE 60.JAPAN PROXIMITY PAYMENT MARKET, BY SOLUTION, 2020–2030 ($MILLION)
TABLE 61.JAPAN PROXIMITY PAYMENT MARKET REVENUE, BY APPLICATION, 2020–2030 ($MILLION)
TABLE 62.AUSTRALIA PROXIMITY PAYMENT MARKET REVENUE, BY OFFERING, 2020–2030 ($MILLION)
TABLE 63.AUSTRALIA PROXIMITY PAYMENT MARKET, BY SOLUTION, 2020–2030 ($MILLION)
TABLE 64.AUSTRALIA PROXIMITY PAYMENT MARKET REVENUE, BY APPLICATION, 2020–2030 ($MILLION)
TABLE 65.SINGAPORE PROXIMITY PAYMENT MARKET REVENUE, BY OFFERING, 2020–2030 ($MILLION)
TABLE 66.SINGAPORE PROXIMITY PAYMENT MARKET, BY SOLUTION, 2020–2030 ($MILLION)
TABLE 67.SINGAPORE PROXIMITY PAYMENT MARKET REVENUE, BY APPLICATION, 2020–2030 ($MILLION)
TABLE 68.REST OF ASIA-PACIFIC PROXIMITY PAYMENT MARKET REVENUE, BY OFFERING, 2020–2030 ($MILLION)
TABLE 69.REST OF ASIA-PACIFIC PROXIMITY PAYMENT MARKET, BY SOLUTION, 2020–2030 ($MILLION)
TABLE 70.REST OF ASIA-PACIFIC PROXIMITY PAYMENT MARKET REVENUE, BY APPLICATION, 2020–2030 ($MILLION)
TABLE 71.LAMEA PROXIMITY PAYMENT MARKET REVENUE, BY OFFERING, 2020–2030 ($MILLION)
TABLE 72.LAMEA PROXIMITY PAYMENT MARKET, BY SOLUTION, 2020–2030 ($MILLION)
TABLE 73.LAMEA PROXIMITY PAYMENT MARKET REVENUE, BY APPLICATION, 2020–2030 ($MILLION)
TABLE 74.LAMEA PROXIMITY PAYMENT MARKET REVENUE, BY COUNTRY, 2020–2030 ($MILLION)
TABLE 75.LATIN AMERICA PROXIMITY PAYMENT MARKET REVENUE, BY OFFERING, 2020–2030 ($MILLION)
TABLE 76.LATIN AMERICA PROXIMITY PAYMENT MARKET, BY SOLUTION, 2020–2030 ($MILLION)
TABLE 77.LATIN AMERICA PROXIMITY PAYMENT MARKET REVENUE, BY APPLICATION, 2020–2030 ($MILLION)
TABLE 78.MIDDLE EAST PROXIMITY PAYMENT MARKET REVENUE, BY OFFERING, 2020–2030 ($MILLION)
TABLE 79.MIDDLE EAST PROXIMITY PAYMENT MARKET, BY SOLUTION, 2020–2030 ($MILLION)
TABLE 80.MIDDLE EAST PROXIMITY PAYMENT MARKET REVENUE, BY APPLICATION, 2020–2030 ($MILLION)
TABLE 81.AFRICA PROXIMITY PAYMENT MARKET REVENUE, BY OFFERING, 2020–2030 ($MILLION)
TABLE 82.AFRICA PROXIMITY PAYMENT MARKET, BY SOLUTION, 2020–2030 ($MILLION)
TABLE 83.AFRICA PROXIMITY PAYMENT MARKET REVENUE, BY APPLICATION, 2020–2030 ($MILLION)
TABLE 84.ACI WORLDWIDE, INC.: COMPANY SNAPSHOT
TABLE 85.ACI WORLDWIDE, INC.: PRODUCT PORTFOLIO
TABLE 86.ALPHABET INC. (GOOGLE): KEY EXECUTIVE
TABLE 87.ALPHABET INC. (GOOGLE): COMPANY SNAPSHOT
TABLE 88.ALPHABET INC. (GOOGLE): OPERATING SEGMENTS
TABLE 89.ALPHABET INC. (GOOGLE): PRODUCT PORTFOLIO
TABLE 90.APPLE INC.: KEY EXECUTIVES
TABLE 91.APPLE INC.: COMPANY SNAPSHOT
TABLE 92.APPLE INC.: PRODUCT PORTFOLIO
TABLE 93.FIS: COMPANY SNAPSHOT
TABLE 94.FIS: OPERATING SEGMENTS
TABLE 95.FIS: PRODUCT PORTFOLIO
TABLE 96.IDEMIA: KEY EXECUTIVES
TABLE 97.IDEMIA: COMPANY SNAPSHOT
TABLE 98.IDEMIA: PRODUCT PORTFOLIO
TABLE 99.INGENICO: KEY EXECUTIVES
TABLE 100.INGENICO: COMPANY SNAPSHOT
TABLE 101.INGENICO: PRODUCT PORTFOLIO
TABLE 102.MASTERCARD: KEY EXECUTIVES
TABLE 103.MASTERCARD: COMPANY SNAPSHOT
TABLE 104.MASTERCARD: OPERATING SEGMENTS
TABLE 105.MASTERCARD: PRODUCT PORTFOLIO
TABLE 106.PAYPAL HOLDINGS INC.: COMPANY SNAPSHOT
TABLE 107.PAYPAL HOLDINGS INC.: OPERATING SEGMENTS
TABLE 108.PAYPAL HOLDINGS INC.: PRODUCT PORTFOLIO
TABLE 109.SQUARE,INC.: COMPANY SNAPSHOT
TABLE 110.SQUARE, INC.: PRODUCT PORTFOLIO
TABLE 111.VISA INC.: KEY EXECUTIVES
TABLE 112.VISA INC.: COMPANY SNAPSHOT
TABLE 113.VISA INC.: PRODUCT PORTFOLIO

LIST OF FIGURES

FIGURE 01.KEY MARKET SEGMENTS
FIGURE 02.PROXIMITY PAYMENT MARKET SNAPSHOT, BY SEGMENTATION, 2021–2030
FIGURE 03.PROXIMITY PAYMENT MARKET SNAPSHOT, BY REGION, 2021–2030
FIGURE 04.PROXIMITY PAYMENT MARKET: TOP IMPACTING FACTOR
FIGURE 05.TOP INVESTMENT POCKETS
FIGURE 06.MODERATELY HIGH BARGAINING POWER OF SUPPLIERS
FIGURE 07.MODERATELY HIGH BARGAINING POWER OF BUYER
FIGURE 08.MODERATE THREAT OF SUBSTITUTES
FIGURE 09.HIGH THREAT OF NEW ENTRANTS
FIGURE 10.HIGH COMPETITIVE RIVALRY
FIGURE 11.BASIC ARCHITECTURE OF A PROXIMITY M-PAYMENT SYSTEM
FIGURE 12.PROXIMITY PAYMENT PROCESSING CYCLE
FIGURE 13.IMPACT OF GOVERNMENT REGULATIONS ON PROXIMITY PAYMENT MARKET
FIGURE 14.MARKET DYNAMICS: PROXIMITY PAYMENT MARKET
FIGURE 15.PATENT ANALYSIS, BY REGION
FIGURE 16.PATENT ANALYSIS, BY APPLICANT
FIGURE 17.PROXIMITY PAYMENT MARKET, BY OFFERING, 2020-2030
FIGURE 18.COMPARATIVE COUNTRY ANALYSIS OF PROXIMITY PAYMENT MARKET FOR SOLUTION,  2020 & 2030 (%)
FIGURE 19.PROXIMITY PAYMENT MARKET, BY SOLUTION, 2020-2030
FIGURE 20.COMPARATIVE SHARE ANALYSIS OF PROXIMITY PAYMENT SOLUTION MARKET FOR HARDWARE, BY COUNTRY, 2020 & 2030(%)
FIGURE 21.COMPARATIVE SHARE ANALYSIS OF PROXIMITY PAYMENT SOLUTION MARKET FOR SOFTWARE, BY COUNTRY, 2020 & 2030(%)
FIGURE 22.COMPARATIVE COUNTRY ANALYSIS OF PROXIMITY PAYMENT MARKET FOR SERVICE, 2020 & 2030 (%)
FIGURE 23.PROXIMITY PAYMENT MARKET, BY APPLICATION, 2020-2030
FIGURE 24.COMPARATIVE COUNTRY ANALYSIS OF PROXIMITY PAYMENT MARKET FOR GROCERY STORES, 2020 & 2030 (%)
FIGURE 25.COMPARATIVE ANALYSIS OF PROXIMITY PAYMENT MARKET FOR BARS & RESTAURANTS, 2020 & 2030 (%)
FIGURE 26.COMPARATIVE ANALYSIS OF PROXIMITY PAYMENT MARKET FOR DRUG STORES, 2020 & 2030 (%)
FIGURE 27.COMPARATIVE COUNTRY ANALYSIS OF PROXIMITY PAYMENT MARKET FOR ENTERTAINMENT CENTERS, 2020 & 2030 (%)
FIGURE 28.COMPARATIVE COUNTRY ANALYSIS OF PROXIMITY PAYMENT MARKET FOR OTHERS, 2020 & 2030 (%)
FIGURE 29.U.S. PROXIMITY PAYMENT MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 30.CANADA PROXIMITY PAYMENT MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 31.UK PROXIMITY PAYMENT MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 32.GERMANY PROXIMITY PAYMENT MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 33.FRANCE PROXIMITY PAYMENT MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 34.SPAIN PROXIMITY PAYMENT MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 35.RUSSIA PROXIMITY PAYMENT MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 36.THE NETHERLANDS PROXIMITY PAYMENT MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 37.REST OF EUROPE PROXIMITY PAYMENT MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 38.CHINA PROXIMITY PAYMENT MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 39.INDIA PROXIMITY PAYMENT MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 40.JAPAN PROXIMITY PAYMENT MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 41.AUSTRALIA PROXIMITY PAYMENT MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 42.SINGAPORE PROXIMITY PAYMENT MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 43.REST OF ASIA-PACIFIC PROXIMITY PAYMENT MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 44.LATIN AMERICA PROXIMITY PAYMENT MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 45.MIDDLE EAST PROXIMITY PAYMENT MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 46.AFRICA PROXIMITY PAYMENT MARKET REVENUE, 2020–2030 ($MILLION)
FIGURE 47.MARKET PLAYER POSITIONING, 2020
FIGURE 48.COMPETITIVE DASHBOARD
FIGURE 49.COMPETITIVE DASHBOARD
FIGURE 50.COMPETITIVE HEATMAP OF KEY PLAYERS
FIGURE 51.TOP WINNING STRATEGIES, BY YEAR, 2019–2021
FIGURE 52.TOP WINNING STRATEGIES, BY DEVELOPMENT, 2019–2021
FIGURE 53.TOP WINNING STRATEGIES, BY COMPANY, 2019–2021
FIGURE 54.ACI WORLDWIDE, INC.: NET REVENUE, 2018–2020 ($MILLION)
FIGURE 55.ACI WORLDWIDE, INC.: REVENUE SHARE, BY SEGMENT (2020)
FIGURE 56.ACI WORLDWIDE, INC.: REVENUE SHARE, BY REGION (2020)
FIGURE 57.R&D EXPENDITURE, 2018–2020 ($MILLION)
FIGURE 58.ALPHABET INC. (GOOGLE): REVENUE, 2018–2020 ($MILLION)
FIGURE 59.ALPHABET INC. (GOOGLE): REVENUE SHARE BY SEGMENT, 2020 (%)
FIGURE 60.ALPHABET INC. (GOOGLE): REVENUE SHARE BY REGION, 2020 (%)
FIGURE 61.R&D EXPENDITURE, 2018-2020 ($MILLION)
FIGURE 62.APPLE INC.: REVENUE, 2018–2020 ($MILLION)
FIGURE 63.APPLE INC.: REVENUE SHARE BY SEGMENT, 2020 (%)
FIGURE 64.APPLE INC.: REVENUE SHARE BY REGION, 2020 (%)
FIGURE 65.FIS: NET REVENUE, 2018–2020 ($MILLION)
FIGURE 66.FIS: REVENUE SHARE, BY SEGMENT, 2020 (%)
FIGURE 67.MASTERCARD: REVENUE, 2018–2020 ($MILLION)
FIGURE 68.MASTERCARD: REVENUE SHARE, BY SEGMENT, 2020 (%)
FIGURE 69.MASTERCARD: REVENUE SHARE BY REGION, 2020 (%)
FIGURE 70.PAYPAL HOLDINGS INC.: REVENUE, 2018–2020 ($MILLION)
FIGURE 71.PAYPAL HOLDINGS INC.: REVENUE SHARE, BY SEGMENT, 2020 (%)
FIGURE 72.PAYPAL HOLDINGS INC.: REVENUE SHARE, BY REGION, 2020 (%)
FIGURE 73.SQUARE, INC.: NET REVENUE, 2018–2020 ($MILLION)
FIGURE 74.SQUARE, INC.: REVENUE SHARE, BY REGION (2020)
FIGURE 75.VISA INC.: NET SALES, 2018–2020 ($MILLION)
FIGURE 76.VISA INC.: REVENUE SHARE, BY REGION (2020)

 
 

Benefits associated with proximity payment technology such as increase in convenience & reduced transaction time and rise in adoption of smartphones among end users drive the market growth. With enabling data driven personalization & enhancing user experience, merchants are increasingly looking to accommodate consumer demand for secure and touch-free transactions via proximity payments. Moreover, consumers continue to use innovative payment technology and even standard credit cards in replacement of cash. In addition, several key players are enhancing & providing advanced proximity payment options and offering coupons & promotions by directing customers to a landing page or downloadable coupons, which can be used for their next purchase.

The COVID-19 outbreak has a significant impact on the proximity payment market and has accelerated the usage & adoption of POS payment terminals primarily among merchants & retailers. In addition, during the global health crisis, there’s an increased usage of proximity payment as it allows customers and employees to better keep their distance & avoid handling potentially contaminated bills or cards.

The proximity payment market is fragmented with the presence of regional vendors such as ACI Worldwide Inc., IDEMIA, and PayPal Holdings Inc. Some of the key players profiled in the proximity payment market report include Alphabet Inc., Apple Inc., FIS Global, Ingenico, Mastercard, Square, Inc., and Visa Inc. Major players operating in this market have witnessed significant adoption of strategies that include business expansion and partnership to reduce supply and demand gap. With increase in awareness & demand for proximity payment across the globe, major players are collaborating their product portfolio to provide differentiated and innovative products.

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A. The proximity payment market is estimated to grow at a CAGR of 12.9% from 2021 to 2030.

A. The proximity payment market is projected to reach $46.80 billion by 2030.

A. To get the latest version of sample report

A. Real-time transaction processing, flexibility of payment devices, reduced transaction time, and increase in convenience.

A. The key players profiled in the report include ACI Worldwide, Inc., Alphabet Inc. (Google), Apple Inc., FIS, IDEMIA, and many more.

A. On the basis of top growing big corporations, we select top 10 players.

A. The Proximity payment market is segmented on the basis of offering, application, and region.

A. The key growth strategies of proximity payment market players include product portfolio expansion, mergers & acquisitions, agreements, regional expansion, and collaboration.

A. Service segment would grow at a highest CAGR of 14.7% during the forecast period.

A. Asia-Pacific region will dominate the market by the end of 2030.

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