Contactless Payments Market Expected to Reach $25,565 Million by 2023

Contactless Payments Market by Device Type and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global contactless payments market was valued at $6,734 million in 2016, and is projected to reach at $25,565 million by 2023, growing at a CAGR of 21.2% from 2017 to 2023. In 2016, the mobile devices segment accounted for the highest revenue share in the contactless payments market.

Consumers as well as enterprises have increasingly adopted number of ways for convenient and secure payments. One of such medium is a contactless system that has revolutionized the retail and transportation industries in the past few years.

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The global contactless payments market is driven by convenience in processing low-value payments, increased revenue opportunities, and reduced transaction time. However, high costs involved for the deployment of EPOS terminals and lack of trust and security concerns hamper the market growth.

Europe dominated the global market in 2016, and is expected to continue this trend during the forecast period, owing to the growing adoption of contactless smart cards. Furthermore, Asia-Pacific is expected to grow at the highest CAGR during the forecast period.

In 2016, the global market was dominated by the BFSI industry, and is expected to continue this trend during the forecast period. However, the others segment is expected to witness the highest growth, owing to increase in installation of contactless readers in the premises of hospitals for convenience of both patients and doctors.

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 Key Findings of the Contactless Payments Market:

•        The mobile devices segment is expected to exhibit significant increase in the global contactless payments market during the forecast period.
•        In 2016, the BFSI segment accounted for the highest revenue among the other industry verticals.
•        Asia-Pacific is anticipated to exhibit substantial growth during the forecast period.

The key players profiled in the report include Ingenico Group, Verifone Systems, Inc., Inside Secure, on Track Innovations, Oberthur Technologies SA, Proxama, PLC., Wirecard AG, Giesecke & Devrient GmbH, Gemalto N.V., and Heartland Payment Systems, Inc.

Research on Wood Plastic Composites Market, Growth & Development

Global Wood Plastic Composites (WPC) Market was valued at $2,551 million in 2016, and is expected to reach at $6,584 million by 2023, registering a CAGR of 12.6% from 2017 to 2023. Asia-Pacific is expected to dominate the market, both in terms of volume and value, and is expected to maintain this trend throughout the forecast period.

WPCs are composed of wood or wood flour, plastics, and additives. The source of the materials can be either virgin or recycled material. The demand for materials based on renewable raw materials has risen steadily in the recent years. Furthermore, increase in interest from governments about climate protection and sustainability results in expansion of market size of natural-based materials such as wood plastic composites (WPC).

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WPC provides a challenge to solid wood/polymer products as alternative construction materials and is expected to increase on a large scale in the near future due to development of more recycled products. Furthermore, reliable and consistent recyclable material supply chains are required for strong market growth, though high demand from automotive sector is expected to augment the market growth.

The building & construction segment accounted for more than three-fourths share of the global market in 2016, in terms of volume, and is expected to maintain its dominance during the forecast period, owing to its improved performance and appearance characteristics. However, automotive components are also expected to grow with a high rate due to rise in demand for recyclable and lightweight materials.

Key Findings of the Wood Plastic Composites Market:

• In terms of value, the building & construction segment is expected to grow at a CAGR of 12.6% during the forecast period.
• In Asia-Pacific, China is estimated to grow at the highest CAGR of 12.9%, in terms of value.
• PVC-based composites occupied around one-eighth of the global market share in 2016, in terms of volume.
• U.S. accounted for over one-fifth of the global market in 2016, and is expected to grow at a significant CAGR of 8.8%, in terms of volume.

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The major companies profiled in the report include, Advanced Environmental Recycling Technologies, Inc., Axion International, Inc., Beologic N.V., Certainteed Corporation, Fiberon, LLC., Fkur Kunststoff GmbH, Polymera, Inc., Tamko Building Products, Inc., Timbertech Ltd., and Trex Company, Inc.

Growing Trends and Developments in the Ultra-Secure Smartphone Technology in Future

Ultra-Secure Smartphone Market by Operating System and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global ultra-secure smartphone market was valued at $818 million in 2016, and is projected to reach $3,191 million by 2023, growing at a CAGR of 21.6% from 2017 to 2023. In 2016, the android segment accounted for the highest revenue share in the ultra-secure smartphone market.

Rise in customers inclination toward ultra-secure smartphones, its ability to provide better security and reliable transmission of data, and growth in adoption of ultra-secure smartphones for military and commercial applications drive the global ultra-secure smartphone market growth. However, requirement of cooperating handsets and its high price hampers this growth to a certain extent.

Android segment is expected to grow at a highest CAGR of 21.70% due to increase in the integrity of the android operating system along with its ability to run on all mobile devices.

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Android segment dominated the global ultra-secure smartphone market in 2016, and is expected to remain dominant during the forecast period, owing to the rapid adoption of android in many ultra-secure smartphones. Furthermore, it is expected to grow at the highest CAGR of 21.70% during the forecast period.

North America accounted for the highest revenue in 2016. Further, Europe is anticipated to witness the fastest growth rate during the forecast period.

Key Findings of the Ultra-Secure Smartphone Market:

• The android segment is expected to exhibit significant growth in the global ultra-secure smartphone market during the forecast period.
• In 2016, the government agencies segment accounted for the highest revenue among the other end users.
• North America generated the highest revenue in 2016.
• Europe is anticipated to exhibit substantial growth during the forecast period.

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Some of the key players operating in the ultra-secure smartphone market that are profiled in the report include ESD Crytophone, BlackBerry Limited, DarkMatter, Inc., Sirin Labs, Turing Robotic Industries, Boeing, Silent Circle, LLC, and Atos SE.