Japan Contactless Payment Market Growth, Share, Outlook, Size, and Forecast 2024-2032
IMARC Group, a leading market research company, has recently released a report titled “Japan Contactless Payment Market Report by Technology (Near Field Communication (NFC), Radio Frequency Identification (RFID), Infrared (IR), and Others), Device (Smartphones and Wearables, Point-of-Sale Terminals, Smart Cards), Solution (Payment Terminal Solution, Transaction Management, Security and Fraud Management, Hosted Point-of-Sales, Payment Analytics), Application (BFSI, Retail, Transportation, Healthcare, and Others), and Region 2024-2032.” The study provides a detailed analysis of the industry, including the Japan contactless payment market trends, share, size, growth, and forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Japan Contactless Payment Market?
The Japan contactless payment market size is projected to exhibit a growth rate (CAGR) of 18.18% during 2024-2032.
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Japan Contactless Payment Market
Advancements in technology as well as shifting consumer preferences towards faster and more secure transaction methods are the factors responsible for the growth of the Japan contactless payment market. Additionally, the market is propelling owing to the rapid adoption of contactless payment technologies, such as near-field communication and radio frequency identification, across a wide array of platforms, such as mobile devices, cards, and wearables. Furthermore, major events such as the Tokyo Olympics accelerated the deployment and acceptance of contactless payment solutions as part of broader efforts to enhance the efficiency and international compatibility of payment infrastructure, contributing to the expansion of the market across the country.
The active promotion of a cashless society by the government authorities has been a significant driver behind the expansion of contactless payments. In addition to this, initiatives aimed at reducing the reliance on cash transactions are supported by incentives for businesses to adopt digital payment systems and for consumers to utilize them, which is acting as another growth-inducing factor. Moreover, the COVID-19 pandemic further underscored the benefits of contactless payments, promoting their use as a hygienic alternative to cash that minimizes physical contact is positively impacting the market. With the combination of advanced security features, such as biometric authentication and tokenization, consumer confidence in the safety of contactless payments continues to strengthen, which is anticipated to drive the Japan contactless payment market over the forecasted period.
Japan Contactless Payment Market Segmentation:
Breakup By Technology:
Near Field Communication (Nfc)
Radio Frequency Identification (Rfid)
Infrared (Ir)
Others
Breakup By Device:
Smartphones And Wearables
Point-Of-Sale Terminals
Smart Cards
Breakup By Solution:
Payment Terminal Solution
Transaction Management
Security And Fraud Management
Hosted Point-Of-Sales
Payment Analytics
Breakup By Application:
Bfsi
Retail
Transportation
Healthcare
Others
Breakup By Region:
Kanto Region
Kansai/Kinki Region
Central/ Chubu Region
Kyushu-Okinawa Region
Tohoku Region
Chugoku Region
Hokkaido Region
Shikoku Region
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Key Highlights of the Report:
Market Performance (2018-2023)
Market Outlook (2024-2032)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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