The number of contactless point-of-sale devices will more than double to 161 million worldwide by 2024, compared with the existing 78 million in 2019, according to a new research report by Juniper Research. 

The growth will largely be driven by expanded deployment of contactless POS devices in the U.S. as well as developing markets like India. 

Juniper is recommending that hardware vendors focus on enabling higher value contactless payments on existing POS devices by embracing mobile wallet and biometric payment use. 

The report also forecasts a surge in global transaction values from contactless payments from $84 million for the year 2019 to $254 million by 2024, driven by biometric use in China and India.