The Asia Pacific Wearable Payments Devices Market is expected to witness market growth of 27.9% CAGR during the forecast period (2020-2026).
Payment systems came a long way where they adapted to the changing requirements of the customers. Changes like more convenience and reduced time during payments were introduced in the payment systems. The increasing popularity of contactless payment technology, along with the rising adoption of wearable devices, like smartwatches for contactless payments, is estimated to boost the growth of the market during the forecast period.
There has been an increasing adoption of wearable payment witnessed over time. Owing to the increasing acceptance of contactless payment cards & smartphones, wearable devices, and ease of transactions in comparison to traditional banks. Additionally, many retailers in the developed countries have adopted contactless payments to deliver an improved customer experience and to raise the adoption of contactless payments in the developing countries of Asia-Pacific such as India and China.
The introduction of digitization in banks is estimated to achieve traction during the forecast period as banks are now aiming on integrating card management systems with the token service providers. The rising adoption of contactless payment systems in the banking industry is further estimated to drive the growth of the market. Moreover, many key players are aiming to create safe and secure wearable devices for use by consumers, thus creating significant growth opportunities for the market.
Based on Type, the market is segmented into Fitness Tracker, Payment Wristbands and Smart Watches. Based on Technology, the market is segmented into Barcodes, Near Field Communication (NFC), Quick Response (QR) Codes, Contactless Point of Sale (POS) Terminals and Others. Based on Application, the market is segmented into Retail, Transportation, Festival & Life Events, Fitness, Healthcare and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Apple, Inc., Thales Group S.A. (Gemalto NV), Google, Inc., Mastercard, Inc., Samsung Electronics Co., Ltd. (Samsung Group), Xiaomi Corporation, PayPal Holdings, Inc. (eBay), Visa, Inc., Nymi, Inc., and Barclays PLC.
Scope of the Study
Market Segments covered in the Report:
By Type
By Technology
By Application
By Country
Companies Profiled
Unique Offerings from the Publisher
Payment systems came a long way where they adapted to the changing requirements of the customers. Changes like more convenience and reduced time during payments were introduced in the payment systems. The increasing popularity of contactless payment technology, along with the rising adoption of wearable devices, like smartwatches for contactless payments, is estimated to boost the growth of the market during the forecast period.
There has been an increasing adoption of wearable payment witnessed over time. Owing to the increasing acceptance of contactless payment cards & smartphones, wearable devices, and ease of transactions in comparison to traditional banks. Additionally, many retailers in the developed countries have adopted contactless payments to deliver an improved customer experience and to raise the adoption of contactless payments in the developing countries of Asia-Pacific such as India and China.
The introduction of digitization in banks is estimated to achieve traction during the forecast period as banks are now aiming on integrating card management systems with the token service providers. The rising adoption of contactless payment systems in the banking industry is further estimated to drive the growth of the market. Moreover, many key players are aiming to create safe and secure wearable devices for use by consumers, thus creating significant growth opportunities for the market.
Based on Type, the market is segmented into Fitness Tracker, Payment Wristbands and Smart Watches. Based on Technology, the market is segmented into Barcodes, Near Field Communication (NFC), Quick Response (QR) Codes, Contactless Point of Sale (POS) Terminals and Others. Based on Application, the market is segmented into Retail, Transportation, Festival & Life Events, Fitness, Healthcare and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Apple, Inc., Thales Group S.A. (Gemalto NV), Google, Inc., Mastercard, Inc., Samsung Electronics Co., Ltd. (Samsung Group), Xiaomi Corporation, PayPal Holdings, Inc. (eBay), Visa, Inc., Nymi, Inc., and Barclays PLC.
Scope of the Study
Market Segments covered in the Report:
By Type
- Fitness Tracker
- Payment Wristbands
- Smart Watches
By Technology
- Barcodes
- Near Field Communication (NFC)
- Quick Response (QR) Codes
- Contactless Point of Sale (POS) Terminals
- Others
By Application
- Retail
- Transportation
- Festival & Life Events
- Fitness
- Healthcare
- Others
By Country
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Companies Profiled
- Apple, Inc.
- Thales Group S.A. (Gemalto NV)
- Google, Inc.
- Mastercard, Inc.
- Samsung Electronics Co., Ltd. (Samsung Group)
- Xiaomi Corporation
- PayPal Holdings, Inc. (eBay)
- Visa, Inc.
- Nymi, Inc.
- Barclays PLC
Unique Offerings from the Publisher
- Exhaustive coverage
- Highest number of market tables and figures
- Subscription based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 3. Competition Analysis - Global
Chapter 4. Asia Pacific Wearable Payments Devices Market by Type
Chapter 5. Asia Pacific Wearable Payments Devices Market by Technology
Chapter 6. Asia Pacific Wearable Payments Devices Market by Application
Chapter 7. Asia Pacific Wearable Payments Devices Market by Country
Chapter 8. Company Profiles
Companies Mentioned
- Apple, Inc.
- Thales Group S.A. (Gemalto NV)
- Google, Inc.
- Mastercard, Inc.
- Samsung Electronics Co., Ltd. (Samsung Group)
- Xiaomi Corporation
- PayPal Holdings, Inc. (eBay)
- Visa, Inc.
- Nymi, Inc.
- Barclays PLC
Methodology
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