Germany contactless payment market is anticipated to grow at a CAGR 15.4% during the forecast period. Germany is one of the leading markets for ICT (Information and Communication Technologies) sector. Well-established ICT sector supports the number of opportunities for ICT market players to emerge in advanced technologies such as digital payment services. Major IT sector companies such as IBM, Google, Microsoft, and SAP are the leading ICT market players in the country. Due to favorable government policies, Germany has substantial capital investments in the ICT sector. 

The economic and technical policies are focused on the digital economy, e-infrastructure, digital public administration, and internet-oriented workplace, the involvement of internet services in finance, education, science, and research. Security, protection, speed, and transparency through internet services are adding a significant amount of government’s efforts in the digitalization. Policies such as GDPR (General Data Protection Regulation) and EU Digital Single Market are continuously increasing demand for ICT market. According to the US Department of Commerce, Germany’s ICT market is valued at $211 million in 2017 with an increase of 6% as compared to 2016.

Therefore, with the emergence of the digital economy in the country, the demand for secure and fast financial services is increasing. NFC-based payments are considered as a reliable and secured method for financial transactions. However, with the digital economy, the number of cyber threats is estimated to increase substantially. Therefore, cyber threats act as a challenge in the adoption of digital payment methods. Despite the challenges, contactless payments require smart gadgets such as smartphones, smart watches, smart cards, and others, thus, the source of payment is easily available in the country as German population is highly exposed to the smart devices.

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

The Report Covers

• Comprehensive research methodology of the Germany 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 Germany Contactless Payment market.
• Insights about market determinants which are stimulating the Germany Contactless Payment market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.