European contactless payment market is anticipated to grow at a CAGR 14.7% during the forecast period. European countries are considered to befertile grounds for contactless payments. Countries are providing a positive environment for various contactless platforms such as Apple Pay, Barclays Contactless Mobile, and others. For instance, as per UK Finance, a total of 38% of instore card payments are accounted as contactless payments in UK. Moreover, major economies of Europe such as Germany, France, Spain, and few others are moving rapidly towards digital payments which as a result are augmenting the integration of NFC-based payments in the region. 

With the active participation of the governments, the region has reported significant growth in digital payment investments. Moreover, the fintech collaborations provide the financial as well as technical support in the development of contactless payments. Germany, UK, France, and other European countries have reported substantial investment in the fintech sector. Estonia is another such country where the government is actively participating to support the adoption of digital payments. Estonia has advanced in the digital payments as more than 95% of the tax returns are filed digitally. The major factor behind the adoption of digital payment is the availability of modern infrastructure due to the active participation of government agencies in the development of digital platforms. 

Additionally, the governments in many European countries are investing in contactless payment platforms and infrastructure due to the well-established ICT industry in the European contactless payment market. UK holds the major market share in European contactless payment market due to high adoption and awareness. The key market player’s active in the European contactless payment market includes GIESECKE+DEVRIENT GMBH, Gemalto NV, IBM Corp., Infineon Technologies AG, Ingenico Group SA, Prepay solutions, Thales Group, Wirecard AG, VISA, INC and Verifone Systems, INC.

Research Methodology

The market study of the European Contactless Payment market is incorporated by extensive primary and secondary research conducted by the research team at OMR.  Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report is intended for the electronic and IT industry, ICT (Information and Communication Technology) and other related companies for overall market analysis and competitive analysis. The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. The European  Contactless Payment  Market Research and Analysis by Device
2. The European  Contactless Payment  Market Research and Analysis by End-User

The Report Covers

• Comprehensive research methodology of the European Contactless Payment market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the European Contactless Payment market.
• Insights about market determinants which are stimulating the European Contactless Payment market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.