Investments in Global Contactless Services Spike to Improve Customer Satisfaction

Adopting a revenue-sharing model will help penetrate the touchless solutions market,says Frost & Sullivan

SAN ANTONIO,June 10,2022 -- To ease people's fears regarding personal hygiene and safety and return to pre-pandemic stability,businesses across all industries are incorporating contactless/no-touch solutions in existing operating models. Adopting these practices will lower personal proximity,minimizing the chances of virus transmission. Frost & Sullivan's recent analysis,Global Contactless Services Industry,finds that organizations' need to reduce avoidable contact among individuals will drive investments in touchless technologies in the post-COVID-19 era. Additionally,increased spending on contactless solutions to offer a better digital customer experience (CX) will result in a nearly 10% rise in customer retention.

Contactless payment services are rising,finds Frost & Sullivan.

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"To save costs and enhance the contactless customer experience,organizations are automating traditional commerce and customer service methods," said Partha Sarathi Chakraborty,TechVision Industry Analyst at Frost & Sullivan. "Additionally,companies are providing seamless,no-touch experiences to their customers to expand their consumer base,which will increase revenue inflows for organizations."

Chakraborty added: "Organizations are adopting contactless solutions across all major industry segments with technological advancements that will aid them in making strategic and corrective decisions. This will inflate the demand for no-touch retail,digital wallet payment,and touchless biometrics solutions."

Frost & Sullivan identified the following growth opportunities in the global contactless services market:

Start-ups providing contactless solutions should adopt a revenue-sharing model with existing suppliers to penetrate the market strategically.

Technology enablers should establish a remotely accessible central command center and integrate data from various devices to implement no-touch solutions.

Advanced technologies,such as digital twins and edge computing consultations, should be merged into existing automation solutions for healthcare companies to achieve a competitive advantage.

Global Contactless Services Growth Opportunitiesis the latest addition to Frost & Sullivan's TechVision research and analyses available through the Frost & Sullivan Leadership Council,which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.

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Global Contactless Services Growth Opportunities

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