Contactless Payment Ring Market, By Type, By Payment Method, By End User, By Geography

Description

The global contactless payment ring market is estimated to be valued at USD 38.76 Bn in 2024 and is expected to reach USD 132.04 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 19.1% from 2024 to 2031.

Report Coverage		Report Details
Base Year:	2023	Market Size in 2024:	US$ 38.76 Bn
Historical Data for:	2019 To 2023	Forecast Period:	2024 To 2031
Forecast Period 2024 to 2031 CAGR:	19.10%	2031 Value Projection:	US$ 132.04 Bn

Figure. Contactless Payment Ring Market Share (%), By Region, 2024

The global contactless payment ring market is witnessing high growth due to the rising demand for convenient and secure payment solutions. Contactless payment rings allow users to pay for their transactions by waving their hand near a payment terminal instead of using debit/credit cards, which offers greater convenience. Advancements in near-field communication (NFC) technology have made it possible to integrate a small NFC chip within a wearable device like a ring, enabling contactless payments. Furthermore, factors such as rising adoption of digital payment modes, growing e-commerce sales, increasing penetration of smartphones, and developing payment infrastructure are fueling the demand for innovative payment solutions like contactless rings.

Market Dynamics:

The global contactless payment ring market is driven by growing preference for convenient payment options and rise in mobile commerce. Contactless payment rings provide secure and swift transaction experience to users. Moreover, rapid urbanization, improving economic conditions, and increasing internet penetration in developing nations are creating new opportunities in mobile commerce, which is accelerating the sales of NFC-enabled payment rings. However, data privacy and security concerns as well as high costs associated with contactless payment infrastructure could hamper the market growth. Ongoing technological advancements in NFC technology are expected to boost the performance and capabilities of contactless payment rings, offering new opportunities over the forecast period.

Key Features of the Study:

This report provides in-depth analysis of the global contactless payment ring market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year

It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market

This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players

It profiles key players in the global contactless payment ring market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies

Key companies covered as a part of this study include Adyen, Alipay, American Express Company, Apple Inc., Amazon.com, Inc., Block, Discover, Giesecke & Devrient GmbH, Infineon, Ingenico, MasterCard, PayPal Holdings Inc., Phone Pe, Samsung Pay, Thales, and Visa Inc.

Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics

The global contactless payment ring market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts

Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global contactless payment ring market

Detailed Segmentation-

By Type Insights (Revenue, USD Bn, 2019 - 2031)
- NFC-Enabled Rings
- Biometric Rings
- RFID-Enabled Rings
By Payment Method Insights (Revenue, USD Bn, 2019 - 2031)
- Credit/Debit Card
- Mobile Wallet
- Others (Prepaid, Loyalty, etc.)
By End User Insights (Revenue, USD Bn, 2019 - 2031)
- Individual Users
- Corporate/Enterprise Users
Regional Insights (Revenue, USD Bn 2019 - 2031)
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- South Africa
- North Africa
- Central Africa
Key Players Insights
- Adyen
- Alipay
- American Express Company
- Apple Inc.
- com, Inc.
- Block
- Discover
- Giesecke & Devrient GmbH
- Infineon
- Ingenico
- MasterCard
- PayPal Holdings Inc.
- Phone Pe
- Samsung Pay
- Thales
- Visa Inc.

Product Code: CMI7353

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Market Snippet, By Type
- Market Snippet, By Payment Method
- Market Snippet, By End User
- Market Snippet, By Region

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
- Drivers
- Restraints
- Market Opportunities
Regulatory Scenario
Industry Trend
Merger and Acquisitions
New System Launches/Approvals
Impact of COVID-19 Pandemic

4. Global Contactless Payment Ring Market, By Type, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020-2031
- Segment Trends
NFC-Enabled Rings
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Biometric Rings
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
RFID-Enabled Rings
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)

5. Global Contactless Payment Ring Market, By Payment Method, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020-2031
- Segment Trends
Credit/Debit Card
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Mobile Wallet
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Others (Prepaid, Loyalty, etc.)
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)

6. Global Contactless Payment Ring Market, By End User, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020-2031
- Segment Trends
Individual Users
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Corporate/Enterprise Users
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)

7. Global Contactless Payment Ring Market, By Region, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, By Region, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020-2031
North America
- Regional Trends
- Market Size and Forecast, By Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Payment Method, 2019-2031, (US$ Bn)
- Market Size and Forecast, By End User, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - U.S.
  - Canada
Europe
- Regional Trends
- Market Size and Forecast, By Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Payment Method, 2019-2031, (US$ Bn)
- Market Size and Forecast, By End User, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - Germany
  - U.K.
  - Spain
  - France
  - Italy
  - Russia
  - Rest of Europe
Asia Pacific
- Regional Trends
- Market Size and Forecast, By Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Payment Method, 2019-2031, (US$ Bn)
- Market Size and Forecast, By End User, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - China
  - India
  - Japan
  - ASEAN
  - Australia
  - South Korea
  - Rest of Asia Pacific
Latin America
- Regional Trends
- Market Size and Forecast, By Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Payment Method, 2019-2031, (US$ Bn)
- Market Size and Forecast, By End User, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - Brazil
  - Argentina
  - Mexico
  - Rest of Latin America
Middle East
- Regional Trends
- Market Size and Forecast, By Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Payment Method, 2019-2031, (US$ Bn)
- Market Size and Forecast, By End User, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - Israel
  - GCC Countries
  - Rest of the Middle East
Africa
- Regional Trends
- Market Size and Forecast, By Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Payment Method, 2019-2031, (US$ Bn)
- Market Size and Forecast, By End User, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - South Africa
  - North Africa
  - Central Africa

8. Competitive Landscape

Company Profiles
- Adyen
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Alipay
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- American Express Company
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Apple Inc.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Amazon.com, Inc.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Block
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Discover
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Giesecke & Devrient GmbH
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Infineon
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Ingenico
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- MasterCard
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- PayPal Holdings Inc.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Phone Pe
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Samsung Pay
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Thales
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Visa Inc.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates

9. Analyst Recommendations

Wheel of Fortune
Analyst View
Coherent Opportunity Map

10. Research Methodology

References
Research Methodology
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