Wearable Payment Devices Market By Device Type, By Technology (Near-field Communication Technology, Radio Frequency Identification, QR and Barcode), By Application : Global Opportunity Analysis and Industry Forecast, 2021-2031

List of Tables

The global wearable payment devices market was valued at $47,091.2 million in 2021, and is projected to reach $158,816.9 million by 2031, registering a CAGR of 13.34% from 2022 to 2031.

Wearable payment refers to payments done with wearable devices equipped with wireless technologies such as NFC and RFID. Wearable payment devices not only provide clients with a quick and contactless payment alternative but also maintain customer safety and hygiene, especially in the aftermath of the COVID-19 pandemic. In addition, the surge in penetration of contactless payment systems at various retail stores, petrol pump stations, and restaurants impact the growth of the market. However, the risk of stolen or lost cards is expected to hamper the market growth. On the contrary, an increase in the use of advanced technologies, such as 5G and blockchain technology, in payment is expected to offer remunerative opportunities for the expansion of the global wearable payment devices market during the forecast period.

The wearable payment devices market is segmented on the basis of device type, technology, application, and region. By device type, the market is classified into fitness trackers, smart watches, payment wristbands and smart rings. By technology, the market is further divided into near-field communication technology (NFC), radio frequency identification (RFID), and QR and barcode. By application, it is fragmented into retail & grocery stores, entertainment centers, restaurants & bars, and hospitals & pharmacies.

The wearable payment devices market analysis is based on device type, technology, application, and region. By device type, the market is classified into fitness trackers, smart watches, payment wristbands and smart rings. By technology, it is divided into near-field communication technology (NFC), radio frequency identification (RFID), and QR and Barcode. By application, it is fragmented into retail & grocery stores, entertainment centers, restaurants & bars, and hospitals & pharmacies. In terms of region, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific) and LAMEA (Latin America, the Middle East, and Africa).

The key players profiled in the wearable payment devices industry include: Apple Inc., Samsung Electronics Co Ltd, Garmin Ltd., Xiaomi Corporation, Google LLC, Visa, Inc., Barclays, PayPal Holdings, Inc., Mastercard Inc., Fitbit (Google), and Tappy Technology Ltd.

Key Benefits For Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the wearable payment devices market analysis from 2021 to 2031 to identify the prevailing wearable payment devices market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the wearable payment devices market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global wearable payment devices market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Device Type

Fitness Trackers
Smart Watches
Payment Wristbands
Smart Rings

By Application

Retail and Grocery Stores
Entertainment Centers
Restaurants and Bars
Hospitals and Pharmacies

By Technology

Near-field Communication Technology (NFC)
Radio Frequency Identification (RFID)
QR and Barcode

By Region

North America
- U.S.
- Canada
- Mexico
Europe
- UK
- Germany
- France
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
LAMEA
- Latin America
- Middle East
- Africa

Key Market Players

Apple Inc.
Samsung Electronics Co Ltd
Garmin Ltd.
Xiaomi Corporation
Google LLC
Barclays
Visa, Inc
Mastercard Inc.
Tappy Technology Ltd
PayPal Holdings, Inc
Fitbit (Google)

Product Code: A15670

CHAPTER 1: INTRODUCTION

1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
- 1.4.1. Primary research
- 1.4.2. Secondary research
- 1.4.3. Analyst tools and models

CHAPTER 2: EXECUTIVE SUMMARY

2.1. CXO Perspective

CHAPTER 3: MARKET OVERVIEW

3.1. Market definition and scope
3.2. Key findings
- 3.2.1. Top impacting factors
- 3.2.2. Top investment pockets
3.3. Porter's five forces analysis
- 3.3.1. Bargaining power of suppliers
- 3.3.2. Bargaining power of buyers
- 3.3.3. Threat of substitutes
- 3.3.4. Threat of new entrants
- 3.3.5. Intensity of rivalry
3.4. Market dynamics
- 3.4.1. Drivers
  - 3.4.1.1. Increase in trend of NFC-based mobile commerce across the globe.
  - 3.4.1.2. Increase in shift from traditional payment system to digital system across the developing nations.
- 3.4.2. Restraints
  - 3.4.2.1. Difficulties in the replacement process of point-of-sale (POS) terminal.
- 3.4.3. Opportunities
  - 3.4.3.1. Increase in use of advance technology, such as 5G and blockchain technology, in payment systems.
3.5. COVID-19 Impact Analysis on the market

CHAPTER 4: WEARABLE PAYMENT DEVICES MARKET, BY DEVICE TYPE

4.1. Overview
- 4.1.1. Market size and forecast
4.2. Fitness Trackers
- 4.2.1. Key market trends, growth factors and opportunities
- 4.2.2. Market size and forecast, by region
- 4.2.3. Market share analysis by country
4.3. Smart Watches
- 4.3.1. Key market trends, growth factors and opportunities
- 4.3.2. Market size and forecast, by region
- 4.3.3. Market share analysis by country
4.4. Payment Wristbands
- 4.4.1. Key market trends, growth factors and opportunities
- 4.4.2. Market size and forecast, by region
- 4.4.3. Market share analysis by country
4.5. Smart Rings
- 4.5.1. Key market trends, growth factors and opportunities
- 4.5.2. Market size and forecast, by region
- 4.5.3. Market share analysis by country

CHAPTER 5: WEARABLE PAYMENT DEVICES MARKET, BY TECHNOLOGY

5.1. Overview
- 5.1.1. Market size and forecast
5.2. Near-field Communication Technology (NFC)
- 5.2.1. Key market trends, growth factors and opportunities
- 5.2.2. Market size and forecast, by region
- 5.2.3. Market share analysis by country
5.3. Radio Frequency Identification (RFID)
- 5.3.1. Key market trends, growth factors and opportunities
- 5.3.2. Market size and forecast, by region
- 5.3.3. Market share analysis by country
5.4. QR and Barcode
- 5.4.1. Key market trends, growth factors and opportunities
- 5.4.2. Market size and forecast, by region
- 5.4.3. Market share analysis by country

CHAPTER 6: WEARABLE PAYMENT DEVICES MARKET, BY APPLICATION

6.1. Overview
- 6.1.1. Market size and forecast
6.2. Retail and Grocery Stores
- 6.2.1. Key market trends, growth factors and opportunities
- 6.2.2. Market size and forecast, by region
- 6.2.3. Market share analysis by country
6.3. Entertainment Centers
- 6.3.1. Key market trends, growth factors and opportunities
- 6.3.2. Market size and forecast, by region
- 6.3.3. Market share analysis by country
6.4. Restaurants and Bars
- 6.4.1. Key market trends, growth factors and opportunities
- 6.4.2. Market size and forecast, by region
- 6.4.3. Market share analysis by country
6.5. Hospitals and Pharmacies
- 6.5.1. Key market trends, growth factors and opportunities
- 6.5.2. Market size and forecast, by region
- 6.5.3. Market share analysis by country

CHAPTER 7: WEARABLE PAYMENT DEVICES MARKET, BY REGION

7.1. Overview
- 7.1.1. Market size and forecast By Region
7.2. North America
- 7.2.1. Key trends and opportunities
- 7.2.2. Market size and forecast, by Device Type
- 7.2.3. Market size and forecast, by Technology
- 7.2.4. Market size and forecast, by Application
- 7.2.5. Market size and forecast, by country
  - 7.2.5.1. U.S.
  - 7.2.5.1.1. Key market trends, growth factors and opportunities
  - 7.2.5.1.2. Market size and forecast, by Device Type
  - 7.2.5.1.3. Market size and forecast, by Technology
  - 7.2.5.1.4. Market size and forecast, by Application
  - 7.2.5.2. Canada
  - 7.2.5.2.1. Key market trends, growth factors and opportunities
  - 7.2.5.2.2. Market size and forecast, by Device Type
  - 7.2.5.2.3. Market size and forecast, by Technology
  - 7.2.5.2.4. Market size and forecast, by Application
  - 7.2.5.3. Mexico
  - 7.2.5.3.1. Key market trends, growth factors and opportunities
  - 7.2.5.3.2. Market size and forecast, by Device Type
  - 7.2.5.3.3. Market size and forecast, by Technology
  - 7.2.5.3.4. Market size and forecast, by Application
7.3. Europe
- 7.3.1. Key trends and opportunities
- 7.3.2. Market size and forecast, by Device Type
- 7.3.3. Market size and forecast, by Technology
- 7.3.4. Market size and forecast, by Application
- 7.3.5. Market size and forecast, by country
  - 7.3.5.1. UK
  - 7.3.5.1.1. Key market trends, growth factors and opportunities
  - 7.3.5.1.2. Market size and forecast, by Device Type
  - 7.3.5.1.3. Market size and forecast, by Technology
  - 7.3.5.1.4. Market size and forecast, by Application
  - 7.3.5.2. Germany
  - 7.3.5.2.1. Key market trends, growth factors and opportunities
  - 7.3.5.2.2. Market size and forecast, by Device Type
  - 7.3.5.2.3. Market size and forecast, by Technology
  - 7.3.5.2.4. Market size and forecast, by Application
  - 7.3.5.3. France
  - 7.3.5.3.1. Key market trends, growth factors and opportunities
  - 7.3.5.3.2. Market size and forecast, by Device Type
  - 7.3.5.3.3. Market size and forecast, by Technology
  - 7.3.5.3.4. Market size and forecast, by Application
  - 7.3.5.4. Rest of Europe
  - 7.3.5.4.1. Key market trends, growth factors and opportunities
  - 7.3.5.4.2. Market size and forecast, by Device Type
  - 7.3.5.4.3. Market size and forecast, by Technology
  - 7.3.5.4.4. Market size and forecast, by Application
7.4. Asia-Pacific
- 7.4.1. Key trends and opportunities
- 7.4.2. Market size and forecast, by Device Type
- 7.4.3. Market size and forecast, by Technology
- 7.4.4. Market size and forecast, by Application
- 7.4.5. Market size and forecast, by country
  - 7.4.5.1. China
  - 7.4.5.1.1. Key market trends, growth factors and opportunities
  - 7.4.5.1.2. Market size and forecast, by Device Type
  - 7.4.5.1.3. Market size and forecast, by Technology
  - 7.4.5.1.4. Market size and forecast, by Application
  - 7.4.5.2. Japan
  - 7.4.5.2.1. Key market trends, growth factors and opportunities
  - 7.4.5.2.2. Market size and forecast, by Device Type
  - 7.4.5.2.3. Market size and forecast, by Technology
  - 7.4.5.2.4. Market size and forecast, by Application
  - 7.4.5.3. India
  - 7.4.5.3.1. Key market trends, growth factors and opportunities
  - 7.4.5.3.2. Market size and forecast, by Device Type
  - 7.4.5.3.3. Market size and forecast, by Technology
  - 7.4.5.3.4. Market size and forecast, by Application
  - 7.4.5.4. South Korea
  - 7.4.5.4.1. Key market trends, growth factors and opportunities
  - 7.4.5.4.2. Market size and forecast, by Device Type
  - 7.4.5.4.3. Market size and forecast, by Technology
  - 7.4.5.4.4. Market size and forecast, by Application
  - 7.4.5.5. Rest of Asia-Pacific
  - 7.4.5.5.1. Key market trends, growth factors and opportunities
  - 7.4.5.5.2. Market size and forecast, by Device Type
  - 7.4.5.5.3. Market size and forecast, by Technology
  - 7.4.5.5.4. Market size and forecast, by Application
7.5. LAMEA
- 7.5.1. Key trends and opportunities
- 7.5.2. Market size and forecast, by Device Type
- 7.5.3. Market size and forecast, by Technology
- 7.5.4. Market size and forecast, by Application
- 7.5.5. Market size and forecast, by country
  - 7.5.5.1. Latin America
  - 7.5.5.1.1. Key market trends, growth factors and opportunities
  - 7.5.5.1.2. Market size and forecast, by Device Type
  - 7.5.5.1.3. Market size and forecast, by Technology
  - 7.5.5.1.4. Market size and forecast, by Application
  - 7.5.5.2. Middle East
  - 7.5.5.2.1. Key market trends, growth factors and opportunities
  - 7.5.5.2.2. Market size and forecast, by Device Type
  - 7.5.5.2.3. Market size and forecast, by Technology
  - 7.5.5.2.4. Market size and forecast, by Application
  - 7.5.5.3. Africa
  - 7.5.5.3.1. Key market trends, growth factors and opportunities
  - 7.5.5.3.2. Market size and forecast, by Device Type
  - 7.5.5.3.3. Market size and forecast, by Technology
  - 7.5.5.3.4. Market size and forecast, by Application

CHAPTER 8: COMPETITIVE LANDSCAPE

8.1. Introduction
8.2. Top winning strategies
8.3. Product Mapping of Top 10 Player
8.4. Competitive Dashboard
8.5. Competitive Heatmap
8.6. Top player positioning, 2021

CHAPTER 9: COMPANY PROFILES

9.1. Apple Inc.
- 9.1.1. Company overview
- 9.1.2. Key Executives
- 9.1.3. Company snapshot
- 9.1.4. Operating business segments
- 9.1.5. Product portfolio
- 9.1.6. Business performance
- 9.1.7. Key strategic moves and developments
9.2. Samsung Electronics Co Ltd
- 9.2.1. Company overview
- 9.2.2. Key Executives
- 9.2.3. Company snapshot
- 9.2.4. Operating business segments
- 9.2.5. Product portfolio
- 9.2.6. Business performance
- 9.2.7. Key strategic moves and developments
9.3. Fitbit (Google)
- 9.3.1. Company overview
- 9.3.2. Key Executives
- 9.3.3. Company snapshot
- 9.3.4. Operating business segments
- 9.3.5. Product portfolio
- 9.3.6. Business performance
- 9.3.7. Key strategic moves and developments
9.4. Garmin Ltd.
- 9.4.1. Company overview
- 9.4.2. Key Executives
- 9.4.3. Company snapshot
- 9.4.4. Operating business segments
- 9.4.5. Product portfolio
- 9.4.6. Business performance
- 9.4.7. Key strategic moves and developments
9.5. Xiaomi Corporation
- 9.5.1. Company overview
- 9.5.2. Key Executives
- 9.5.3. Company snapshot
- 9.5.4. Operating business segments
- 9.5.5. Product portfolio
- 9.5.6. Business performance
- 9.5.7. Key strategic moves and developments
9.6. Google LLC
- 9.6.1. Company overview
- 9.6.2. Key Executives
- 9.6.3. Company snapshot
- 9.6.4. Operating business segments
- 9.6.5. Product portfolio
- 9.6.6. Business performance
- 9.6.7. Key strategic moves and developments
9.7. Tappy Technology Ltd
- 9.7.1. Company overview
- 9.7.2. Key Executives
- 9.7.3. Company snapshot
- 9.7.4. Operating business segments
- 9.7.5. Product portfolio
- 9.7.6. Key strategic moves and developments
9.8. Barclays
- 9.8.1. Company overview
- 9.8.2. Key Executives
- 9.8.3. Company snapshot
- 9.8.4. Operating business segments
- 9.8.5. Product portfolio
- 9.8.6. Business performance
9.9. Visa, Inc
- 9.9.1. Company overview
- 9.9.2. Key Executives
- 9.9.3. Company snapshot
- 9.9.4. Operating business segments
- 9.9.5. Product portfolio
- 9.9.6. Business performance
- 9.9.7. Key strategic moves and developments
9.10. PayPal Holdings, Inc
- 9.10.1. Company overview
- 9.10.2. Key Executives
- 9.10.3. Company snapshot
- 9.10.4. Operating business segments
- 9.10.5. Product portfolio
- 9.10.6. Business performance
- 9.10.7. Key strategic moves and developments
9.11. Mastercard Inc.
- 9.11.1. Company overview
- 9.11.2. Key Executives
- 9.11.3. Company snapshot
- 9.11.4. Operating business segments
- 9.11.5. Product portfolio
- 9.11.6. Business performance
- 9.11.7. Key strategic moves and developments