Wearable Payments Devices Market Scope
The Wearable Payments device is a normal wearable device integrated with a loaded payment application or in-built software. This device will be linked to a customer's bank account and can be used as a debit card while making a payment to any merchant who accepts contactless tap-and-go payments through a PoS device. Rising urbanization and digitization have increased the demand for wearable devices.
The Wearable Payments Devices market study is segmented by Type (Smart Watches, Fitness Tracker, Payment Wristbands and Others), by Application (Grocery Stores, Bar & Restaurants, Pharmacies/Drug Stores, Entertainment Centers and Others) and major geographies with country level break-up.
The global market for Wearable Payments devices is fragmented by the global players as a result of the rapid digitization and urbanization of the world. The enhancement in device software for faster and safer payments in order to ease the transaction process. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Wearable Payments Devices market throughout the predicted period.
Apple Inc. (United States), Barclays Plc (United Kingdom), Fitbit, Inc (United States), Google, Inc (United States), Jawbone (United States), Mastercard (United States), PayPal, Inc (United States), Samsung Electronics Co. Ltd (South Korea), Visa Inc (United States) and Alibaba Group (China) are some of the key players that are part of study coverage.
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
AdvanceMarketAnalytics has segmented the market of Global Wearable Payments Devices market by Type, Application and Region.
On the basis of geography, the market of Wearable Payments Devices has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
In 2021, Google completes Fitbit acquisition, a leader in smartwatch and fitness band. This acquisition will help google to expand in the smartwatch sector with help of the Google broader infrastructure and software.
- Enhancement in Host Card Emulation Technology in Wearable Payments
- Rise in Adoption of Cashless Payments due to Digitisation
- Rise in Demand for Wearable Devices Along with Contactless Payment
- Upsurge in Integration of Near-Field Communication Technology (NFC), Radio Frequency Identification (RFID)
- High Cost of Wearable Devices
- Limited Battery Life of the Wearable Devices
Key Target AudienceWearable Payment Device Manufacturer, Distributor/Reseller, Components Manufacturer, Software Management Firms and Others
Customization available in this Study:The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
** Confirmation on availability of data would be informed prior purchase