Contactless Payment Market to Surge
Exponential Growth Projected
CAGR of 19.1% Anticipated
The global contactless payment market is poised for explosive growth, with analysts predicting a compound annual growth rate (CAGR) of 19.1% from 2022 to 2030. This surge is expected to drive the market size to an astounding USD 164.15 billion by 2030.
According to industry experts, the contactless payment market has already reached a significant milestone of USD 39.23 billion in 2022. This rapid growth is attributed to the increasing adoption of digital payment technologies, such as mobile wallets and NFC-enabled devices.
The projected growth trajectory is further supported by the growing demand for convenient and secure payment options. Contactless payments offer consumers the advantage of faster transactions, reduced risk of fraud, and the ability to pay with just a tap or swipe.
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