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)
Table of Contents
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
List of Tables
TABLE 01. GLOBAL WEARABLE PAYMENT DEVICES MARKET, BY DEVICE TYPE, 2021-2031 ($MILLION) TABLE 02. WEARABLE PAYMENT DEVICES MARKET FOR FITNESS TRACKERS, BY REGION, 2021-2031 ($MILLION) TABLE 03. WEARABLE PAYMENT DEVICES MARKET FOR SMART WATCHES, BY REGION, 2021-2031 ($MILLION) TABLE 04. WEARABLE PAYMENT DEVICES MARKET FOR PAYMENT WRISTBANDS, BY REGION, 2021-2031 ($MILLION) TABLE 05. WEARABLE PAYMENT DEVICES MARKET FOR SMART RINGS, BY REGION, 2021-2031 ($MILLION) TABLE 06. GLOBAL WEARABLE PAYMENT DEVICES MARKET, BY TECHNOLOGY, 2021-2031 ($MILLION) TABLE 07. WEARABLE PAYMENT DEVICES MARKET FOR NEAR-FIELD COMMUNICATION TECHNOLOGY (NFC), BY REGION, 2021-2031 ($MILLION) TABLE 08. WEARABLE PAYMENT DEVICES MARKET FOR RADIO FREQUENCY IDENTIFICATION (RFID), BY REGION, 2021-2031 ($MILLION) TABLE 09. WEARABLE PAYMENT DEVICES MARKET FOR QR AND BARCODE, BY REGION, 2021-2031 ($MILLION) TABLE 10. GLOBAL WEARABLE PAYMENT DEVICES MARKET, BY APPLICATION, 2021-2031 ($MILLION) TABLE 11. WEARABLE PAYMENT DEVICES MARKET FOR RETAIL AND GROCERY STORES, BY REGION, 2021-2031 ($MILLION) TABLE 12. WEARABLE PAYMENT DEVICES MARKET FOR ENTERTAINMENT CENTERS, BY REGION, 2021-2031 ($MILLION) TABLE 13. WEARABLE PAYMENT DEVICES MARKET FOR RESTAURANTS AND BARS, BY REGION, 2021-2031 ($MILLION) TABLE 14. WEARABLE PAYMENT DEVICES MARKET FOR HOSPITALS AND PHARMACIES, BY REGION, 2021-2031 ($MILLION) TABLE 15. WEARABLE PAYMENT DEVICES MARKET, BY REGION, 2021-2031 ($MILLION) TABLE 16. NORTH AMERICA WEARABLE PAYMENT DEVICES MARKET, BY DEVICE TYPE, 2021-2031 ($MILLION) TABLE 17. NORTH AMERICA WEARABLE PAYMENT DEVICES MARKET, BY TECHNOLOGY, 2021-2031 ($MILLION) TABLE 18. NORTH AMERICA WEARABLE PAYMENT DEVICES MARKET, BY APPLICATION, 2021-2031 ($MILLION) TABLE 19. NORTH AMERICA WEARABLE PAYMENT DEVICES MARKET, BY COUNTRY, 2021-2031 ($MILLION) TABLE 20. U.S. WEARABLE PAYMENT DEVICES MARKET, BY DEVICE TYPE, 2021-2031 ($MILLION) TABLE 21. U.S. WEARABLE PAYMENT DEVICES MARKET, BY TECHNOLOGY, 2021-2031 ($MILLION) TABLE 22. U.S. WEARABLE PAYMENT DEVICES MARKET, BY APPLICATION, 2021-2031 ($MILLION) TABLE 23. CANADA WEARABLE PAYMENT DEVICES MARKET, BY DEVICE TYPE, 2021-2031 ($MILLION) TABLE 24. CANADA WEARABLE PAYMENT DEVICES MARKET, BY TECHNOLOGY, 2021-2031 ($MILLION) TABLE 25. CANADA WEARABLE PAYMENT DEVICES MARKET, BY APPLICATION, 2021-2031 ($MILLION) TABLE 26. MEXICO WEARABLE PAYMENT DEVICES MARKET, BY DEVICE TYPE, 2021-2031 ($MILLION) TABLE 27. MEXICO WEARABLE PAYMENT DEVICES MARKET, BY TECHNOLOGY, 2021-2031 ($MILLION) TABLE 28. MEXICO WEARABLE PAYMENT DEVICES MARKET, BY APPLICATION, 2021-2031 ($MILLION) TABLE 29. EUROPE WEARABLE PAYMENT DEVICES MARKET, BY DEVICE TYPE, 2021-2031 ($MILLION) TABLE 30. EUROPE WEARABLE PAYMENT DEVICES MARKET, BY TECHNOLOGY, 2021-2031 ($MILLION) TABLE 31. EUROPE WEARABLE PAYMENT DEVICES MARKET, BY APPLICATION, 2021-2031 ($MILLION) TABLE 32. EUROPE WEARABLE PAYMENT DEVICES MARKET, BY COUNTRY, 2021-2031 ($MILLION) TABLE 33. UK WEARABLE PAYMENT DEVICES MARKET, BY DEVICE TYPE, 2021-2031 ($MILLION) TABLE 34. UK WEARABLE PAYMENT DEVICES MARKET, BY TECHNOLOGY, 2021-2031 ($MILLION) TABLE 35. UK WEARABLE PAYMENT DEVICES MARKET, BY APPLICATION, 2021-2031 ($MILLION) TABLE 36. GERMANY WEARABLE PAYMENT DEVICES MARKET, BY DEVICE TYPE, 2021-2031 ($MILLION) TABLE 37. GERMANY WEARABLE PAYMENT DEVICES MARKET, BY TECHNOLOGY, 2021-2031 ($MILLION) TABLE 38. GERMANY WEARABLE PAYMENT DEVICES MARKET, BY APPLICATION, 2021-2031 ($MILLION) TABLE 39. FRANCE WEARABLE PAYMENT DEVICES MARKET, BY DEVICE TYPE, 2021-2031 ($MILLION) TABLE 40. FRANCE WEARABLE PAYMENT DEVICES MARKET, BY TECHNOLOGY, 2021-2031 ($MILLION) TABLE 41. FRANCE WEARABLE PAYMENT DEVICES MARKET, BY APPLICATION, 2021-2031 ($MILLION) TABLE 42. REST OF EUROPE WEARABLE PAYMENT DEVICES MARKET, BY DEVICE TYPE, 2021-2031 ($MILLION) TABLE 43. REST OF EUROPE WEARABLE PAYMENT DEVICES MARKET, BY TECHNOLOGY, 2021-2031 ($MILLION) TABLE 44. REST OF EUROPE WEARABLE PAYMENT DEVICES MARKET, BY APPLICATION, 2021-2031 ($MILLION) TABLE 45. ASIA-PACIFIC WEARABLE PAYMENT DEVICES MARKET, BY DEVICE TYPE, 2021-2031 ($MILLION) TABLE 46. ASIA-PACIFIC WEARABLE PAYMENT DEVICES MARKET, BY TECHNOLOGY, 2021-2031 ($MILLION) TABLE 47. ASIA-PACIFIC WEARABLE PAYMENT DEVICES MARKET, BY APPLICATION, 2021-2031 ($MILLION) TABLE 48. ASIA-PACIFIC WEARABLE PAYMENT DEVICES MARKET, BY COUNTRY, 2021-2031 ($MILLION) TABLE 49. CHINA WEARABLE PAYMENT DEVICES MARKET, BY DEVICE TYPE, 2021-2031 ($MILLION) TABLE 50. CHINA WEARABLE PAYMENT DEVICES MARKET, BY TECHNOLOGY, 2021-2031 ($MILLION) TABLE 51. CHINA WEARABLE PAYMENT DEVICES MARKET, BY APPLICATION, 2021-2031 ($MILLION) TABLE 52. JAPAN WEARABLE PAYMENT DEVICES MARKET, BY DEVICE TYPE, 2021-2031 ($MILLION) TABLE 53. JAPAN WEARABLE PAYMENT DEVICES MARKET, BY TECHNOLOGY, 2021-2031 ($MILLION) TABLE 54. JAPAN WEARABLE PAYMENT DEVICES MARKET, BY APPLICATION, 2021-2031 ($MILLION) TABLE 55. INDIA WEARABLE PAYMENT DEVICES MARKET, BY DEVICE TYPE, 2021-2031 ($MILLION) TABLE 56. INDIA WEARABLE PAYMENT DEVICES MARKET, BY TECHNOLOGY, 2021-2031 ($MILLION) TABLE 57. INDIA WEARABLE PAYMENT DEVICES MARKET, BY APPLICATION, 2021-2031 ($MILLION) TABLE 58. SOUTH KOREA WEARABLE PAYMENT DEVICES MARKET, BY DEVICE TYPE, 2021-2031 ($MILLION) TABLE 59. SOUTH KOREA WEARABLE PAYMENT DEVICES MARKET, BY TECHNOLOGY, 2021-2031 ($MILLION) TABLE 60. SOUTH KOREA WEARABLE PAYMENT DEVICES MARKET, BY APPLICATION, 2021-2031 ($MILLION) TABLE 61. REST OF ASIA-PACIFIC WEARABLE PAYMENT DEVICES MARKET, BY DEVICE TYPE, 2021-2031 ($MILLION) TABLE 62. REST OF ASIA-PACIFIC WEARABLE PAYMENT DEVICES MARKET, BY TECHNOLOGY, 2021-2031 ($MILLION) TABLE 63. REST OF ASIA-PACIFIC WEARABLE PAYMENT DEVICES MARKET, BY APPLICATION, 2021-2031 ($MILLION) TABLE 64. LAMEA WEARABLE PAYMENT DEVICES MARKET, BY DEVICE TYPE, 2021-2031 ($MILLION) TABLE 65. LAMEA WEARABLE PAYMENT DEVICES MARKET, BY TECHNOLOGY, 2021-2031 ($MILLION) TABLE 66. LAMEA WEARABLE PAYMENT DEVICES MARKET, BY APPLICATION, 2021-2031 ($MILLION) TABLE 67. LAMEA WEARABLE PAYMENT DEVICES MARKET, BY COUNTRY, 2021-2031 ($MILLION) TABLE 68. LATIN AMERICA WEARABLE PAYMENT DEVICES MARKET, BY DEVICE TYPE, 2021-2031 ($MILLION) TABLE 69. LATIN AMERICA WEARABLE PAYMENT DEVICES MARKET, BY TECHNOLOGY, 2021-2031 ($MILLION) TABLE 70. LATIN AMERICA WEARABLE PAYMENT DEVICES MARKET, BY APPLICATION, 2021-2031 ($MILLION) TABLE 71. MIDDLE EAST WEARABLE PAYMENT DEVICES MARKET, BY DEVICE TYPE, 2021-2031 ($MILLION) TABLE 72. MIDDLE EAST WEARABLE PAYMENT DEVICES MARKET, BY TECHNOLOGY, 2021-2031 ($MILLION) TABLE 73. MIDDLE EAST WEARABLE PAYMENT DEVICES MARKET, BY APPLICATION, 2021-2031 ($MILLION) TABLE 74. AFRICA WEARABLE PAYMENT DEVICES MARKET, BY DEVICE TYPE, 2021-2031 ($MILLION) TABLE 75. AFRICA WEARABLE PAYMENT DEVICES MARKET, BY TECHNOLOGY, 2021-2031 ($MILLION) TABLE 76. AFRICA WEARABLE PAYMENT DEVICES MARKET, BY APPLICATION, 2021-2031 ($MILLION) TABLE 77. APPLE INC.: KEY EXECUTIVES TABLE 78. APPLE INC.: COMPANY SNAPSHOT TABLE 79. APPLE INC.: PRODUCT SEGMENTS TABLE 80. APPLE INC.: PRODUCT PORTFOLIO TABLE 81. APPLE INC.: KEY STRATERGIES TABLE 82. SAMSUNG ELECTRONICS CO LTD: KEY EXECUTIVES TABLE 83. SAMSUNG ELECTRONICS CO LTD: COMPANY SNAPSHOT TABLE 84. SAMSUNG ELECTRONICS CO LTD: SERVICE SEGMENTS TABLE 85. SAMSUNG ELECTRONICS CO LTD: PRODUCT PORTFOLIO TABLE 86. SAMSUNG ELECTRONICS CO LTD: KEY STRATERGIES TABLE 87. FITBIT (GOOGLE): KEY EXECUTIVES TABLE 88. FITBIT (GOOGLE): COMPANY SNAPSHOT TABLE 89. FITBIT (GOOGLE): PRODUCT SEGMENTS TABLE 90. FITBIT (GOOGLE): PRODUCT PORTFOLIO TABLE 91. FITBIT (GOOGLE): KEY STRATERGIES TABLE 92. GARMIN LTD.: KEY EXECUTIVES TABLE 93. GARMIN LTD.: COMPANY SNAPSHOT TABLE 94. GARMIN LTD.: PRODUCT SEGMENTS TABLE 95. GARMIN LTD.: PRODUCT PORTFOLIO TABLE 96. GARMIN LTD.: KEY STRATERGIES TABLE 97. XIAOMI CORPORATION: KEY EXECUTIVES TABLE 98. XIAOMI CORPORATION: COMPANY SNAPSHOT TABLE 99. XIAOMI CORPORATION: PRODUCT SEGMENTS TABLE 100. XIAOMI CORPORATION: PRODUCT PORTFOLIO TABLE 101. XIAOMI CORPORATION: KEY STRATERGIES TABLE 102. GOOGLE LLC: KEY EXECUTIVES TABLE 103. GOOGLE LLC: COMPANY SNAPSHOT TABLE 104. GOOGLE LLC: SERVICE SEGMENTS TABLE 105. GOOGLE LLC: PRODUCT PORTFOLIO TABLE 106. GOOGLE LLC: KEY STRATERGIES TABLE 107. TAPPY TECHNOLOGY LTD: KEY EXECUTIVES TABLE 108. TAPPY TECHNOLOGY LTD: COMPANY SNAPSHOT TABLE 109. TAPPY TECHNOLOGY LTD: SERVICE SEGMENTS TABLE 110. TAPPY TECHNOLOGY LTD: PRODUCT PORTFOLIO TABLE 111. TAPPY TECHNOLOGY LTD: KEY STRATERGIES TABLE 112. BARCLAYS: KEY EXECUTIVES TABLE 113. BARCLAYS: COMPANY SNAPSHOT TABLE 114. BARCLAYS: SERVICE SEGMENTS TABLE 115. BARCLAYS: PRODUCT PORTFOLIO TABLE 116. VISA, INC: KEY EXECUTIVES TABLE 117. VISA, INC: COMPANY SNAPSHOT TABLE 118. VISA, INC: SERVICE SEGMENTS TABLE 119. VISA, INC: PRODUCT PORTFOLIO TABLE 120. VISA, INC: KEY STRATERGIES TABLE 121. PAYPAL HOLDINGS, INC: KEY EXECUTIVES TABLE 122. PAYPAL HOLDINGS, INC: COMPANY SNAPSHOT TABLE 123. PAYPAL HOLDINGS, INC: SERVICE SEGMENTS TABLE 124. PAYPAL HOLDINGS, INC: PRODUCT PORTFOLIO TABLE 125. PAYPAL HOLDINGS, INC: KEY STRATERGIES TABLE 126. MASTERCARD INC.: KEY EXECUTIVES TABLE 127. MASTERCARD INC.: COMPANY SNAPSHOT TABLE 128. MASTERCARD INC.: SERVICE SEGMENTS TABLE 129. MASTERCARD INC.: PRODUCT PORTFOLIO TABLE 130. MASTERCARD INC.: KEY STRATERGIES
List of Figures
FIGURE 01. WEARABLE PAYMENT DEVICES MARKET, 2021-2031 FIGURE 02. SEGMENTATION OF WEARABLE PAYMENT DEVICES MARKET, 2021-2031 FIGURE 03. TOP INVESTMENT POCKETS IN WEARABLE PAYMENT DEVICES MARKET (2022-2031) FIGURE 04. MODERATE TO HIGH BARGAINING POWER OF SUPPLIERS FIGURE 05. MODERATE TO HIGH BARGAINING POWER OF BUYERS FIGURE 06. LOW THREAT OF SUBSTITUTES FIGURE 07. MODERATE THREAT OF NEW ENTRANTS FIGURE 08. HIGH INTENSITY OF RIVALRY FIGURE 09. DRIVERS, RESTRAINTS AND OPPORTUNITIES: GLOBALWEARABLE PAYMENT DEVICES MARKET FIGURE 10. WEARABLE PAYMENT DEVICES MARKET, BY DEVICE TYPE, 2021 (%) FIGURE 11. COMPARATIVE SHARE ANALYSIS OF WEARABLE PAYMENT DEVICES MARKET FOR FITNESS TRACKERS, BY COUNTRY 2021-2031 (%) FIGURE 12. COMPARATIVE SHARE ANALYSIS OF WEARABLE PAYMENT DEVICES MARKET FOR SMART WATCHES, BY COUNTRY 2021-2031 (%) FIGURE 13. COMPARATIVE SHARE ANALYSIS OF WEARABLE PAYMENT DEVICES MARKET FOR PAYMENT WRISTBANDS, BY COUNTRY 2021-2031 (%) FIGURE 14. COMPARATIVE SHARE ANALYSIS OF WEARABLE PAYMENT DEVICES MARKET FOR SMART RINGS, BY COUNTRY 2021-2031 (%) FIGURE 15. WEARABLE PAYMENT DEVICES MARKET, BY TECHNOLOGY, 2021 (%) FIGURE 16. COMPARATIVE SHARE ANALYSIS OF WEARABLE PAYMENT DEVICES MARKET FOR NEAR-FIELD COMMUNICATION TECHNOLOGY (NFC), BY COUNTRY 2021-2031 (%) FIGURE 17. COMPARATIVE SHARE ANALYSIS OF WEARABLE PAYMENT DEVICES MARKET FOR RADIO FREQUENCY IDENTIFICATION (RFID), BY COUNTRY 2021-2031 (%) FIGURE 18. COMPARATIVE SHARE ANALYSIS OF WEARABLE PAYMENT DEVICES MARKET FOR QR AND BARCODE, BY COUNTRY 2021-2031 (%) FIGURE 19. WEARABLE PAYMENT DEVICES MARKET, BY APPLICATION, 2021 (%) FIGURE 20. COMPARATIVE SHARE ANALYSIS OF WEARABLE PAYMENT DEVICES MARKET FOR RETAIL AND GROCERY STORES, BY COUNTRY 2021-2031 (%) FIGURE 21. COMPARATIVE SHARE ANALYSIS OF WEARABLE PAYMENT DEVICES MARKET FOR ENTERTAINMENT CENTERS, BY COUNTRY 2021-2031 (%) FIGURE 22. COMPARATIVE SHARE ANALYSIS OF WEARABLE PAYMENT DEVICES MARKET FOR RESTAURANTS AND BARS, BY COUNTRY 2021-2031 (%) FIGURE 23. COMPARATIVE SHARE ANALYSIS OF WEARABLE PAYMENT DEVICES MARKET FOR HOSPITALS AND PHARMACIES, BY COUNTRY 2021-2031 (%) FIGURE 24. WEARABLE PAYMENT DEVICES MARKET BY REGION, 2021 FIGURE 25. U.S. WEARABLE PAYMENT DEVICES MARKET, 2021-2031 ($MILLION) FIGURE 26. CANADA WEARABLE PAYMENT DEVICES MARKET, 2021-2031 ($MILLION) FIGURE 27. MEXICO WEARABLE PAYMENT DEVICES MARKET, 2021-2031 ($MILLION) FIGURE 28. UK WEARABLE PAYMENT DEVICES MARKET, 2021-2031 ($MILLION) FIGURE 29. GERMANY WEARABLE PAYMENT DEVICES MARKET, 2021-2031 ($MILLION) FIGURE 30. FRANCE WEARABLE PAYMENT DEVICES MARKET, 2021-2031 ($MILLION) FIGURE 31. REST OF EUROPE WEARABLE PAYMENT DEVICES MARKET, 2021-2031 ($MILLION) FIGURE 32. CHINA WEARABLE PAYMENT DEVICES MARKET, 2021-2031 ($MILLION) FIGURE 33. JAPAN WEARABLE PAYMENT DEVICES MARKET, 2021-2031 ($MILLION) FIGURE 34. INDIA WEARABLE PAYMENT DEVICES MARKET, 2021-2031 ($MILLION) FIGURE 35. SOUTH KOREA WEARABLE PAYMENT DEVICES MARKET, 2021-2031 ($MILLION) FIGURE 36. REST OF ASIA-PACIFIC WEARABLE PAYMENT DEVICES MARKET, 2021-2031 ($MILLION) FIGURE 37. LATIN AMERICA WEARABLE PAYMENT DEVICES MARKET, 2021-2031 ($MILLION) FIGURE 38. MIDDLE EAST WEARABLE PAYMENT DEVICES MARKET, 2021-2031 ($MILLION) FIGURE 39. AFRICA WEARABLE PAYMENT DEVICES MARKET, 2021-2031 ($MILLION) FIGURE 40. TOP WINNING STRATEGIES, BY YEAR FIGURE 41. TOP WINNING STRATEGIES, BY DEVELOPMENT FIGURE 42. TOP WINNING STRATEGIES, BY COMPANY FIGURE 43. PRODUCT MAPPING OF TOP 10 PLAYERS FIGURE 44. COMPETITIVE DASHBOARD FIGURE 45. COMPETITIVE HEATMAP: WEARABLE PAYMENT DEVICES MARKET FIGURE 46. TOP PLAYER POSITIONING, 2021 FIGURE 47. APPLE INC.: RESEARCH & DEVELOPMENT EXPENDITURE, 2019-2021 FIGURE 48. APPLE INC.: NET REVENUE, 2019-2021 ($MILLION) FIGURE 49. APPLE INC.: REVENUE SHARE BY SEGMENT, 2021 (%) FIGURE 50. APPLE INC.: REVENUE SHARE BY REGION, 2021 (%) FIGURE 51. SAMSUNG ELECTRONICS CO LTD: RESEARCH & DEVELOPMENT EXPENDITURE, 2019-2021 FIGURE 52. SAMSUNG ELECTRONICS CO LTD: NET REVENUE, 2019-2021 ($MILLION) FIGURE 53. SAMSUNG ELECTRONICS CO LTD: REVENUE SHARE BY REGION, 2021 (%) FIGURE 54. SAMSUNG ELECTRONICS CO LTD: REVENUE SHARE BY SEGMENT, 2021 (%) FIGURE 55. FITBIT (GOOGLE): NET REVENUE, 2019-2021 ($MILLION) FIGURE 56. GARMIN LTD.: RESEARCH & DEVELOPMENT EXPENDITURE, 2019-2021 FIGURE 57. GARMIN LTD.: NET SALES, 2019-2021 ($MILLION) FIGURE 58. GARMIN LTD.: REVENUE SHARE BY SEGMENT, 2021 (%) FIGURE 59. GARMIN LTD.: REVENUE SHARE BY REGION, 2021 (%) FIGURE 60. XIAOMI CORPORATION: NET SALES, 2019-2021 ($MILLION) FIGURE 61. XIAOMI CORPORATION: RESEARCH & DEVELOPMENT EXPENDITURE, 2019-2021 FIGURE 62. XIAOMI CORPORATION: REVENUE SHARE BY SEGMENT, 2021 (%) FIGURE 63. XIAOMI CORPORATION: REVENUE SHARE BY REGION, 2021 (%) FIGURE 64. GOOGLE LLC: NET REVENUE, 2019-2021 ($MILLION) FIGURE 65. GOOGLE LLC: REVENUE SHARE BY SEGMENT, 2021 (%) FIGURE 66. GOOGLE LLC: REVENUE SHARE BY REGION, 2021 (%) FIGURE 67. BARCLAYS: NET REVENUE, 2019-2021 ($MILLION) FIGURE 68. VISA, INC: NET REVENUE, 2019-2021 ($MILLION) FIGURE 69. VISA, INC: REVENUE SHARE BY REGION, 2021 (%) FIGURE 70. PAYPAL HOLDINGS, INC: NET REVENUE, 2019-2021 ($MILLION) FIGURE 71. PAYPAL HOLDINGS, INC: RESEARCH & DEVELOPMENT EXPENDITURE, 2019-2021 ($MILLION) FIGURE 72. PAYPAL HOLDINGS, INC: REVENUE SHARE BY REGION, 2021 (%) FIGURE 73. MASTERCARD INC.: NET REVENUE, 2019-2021 ($MILLION) FIGURE 74. MASTERCARD INC.: REVENUE SHARE BY REGION, 2021 (%)
Executive Summary
According to the report titled, “Wearable Payment Devices Market," the wearable payment devices market was valued at $47.1 billion in 2021, and is estimated to reach $158.8 billion by 2031, growing at a CAGR of 13.3% from 2022 to 2031.
A wearable payment device is a type of technology that allows you to make payments using a device that you wear, such as a smartwatch or a bracelet. These devices are equipped with the necessary technology, such as Near Field Communication (NFC) or Bluetooth, to communicate with payment terminals and process payments securely.
Wearable payment devices typically work by linking to a mobile wallet app on your smartphone, which you can use to add your credit or debit card information. Once your information is saved, you can make payments at participating merchants by simply tapping your wearable device on the payment terminal. Some devices may require a PIN or biometric authentication, such as a fingerprint or face recognition, for added security.
Wearable payment devices offer a convenient and quick way to make payments without having to carry a wallet or a phone. They also provide added security, as the device needs to be physically present and authenticated to complete a transaction.
Wearable payment devices are a growing trend in the financial technology industry, driven by several factors. One key driver is convenience, as wearable payment devices offer a quick and easy way to make payments without having to carry a wallet or phone. This level of convenience is particularly appealing to consumers who are always on the go and looking for ways to streamline their daily routines.
Another driver of wearable payment devices is security. With the rise of online fraud and identity theft, many consumers are looking for ways to protect themselves from these risks. Wearable payment devices provide an extra layer of security as they require physical authentication to complete a transaction, such as a fingerprint or a face recognition scan.
Finally, the increasing adoption of wearable technology, such as smartwatches and fitness trackers, has created a growing market for wearable payment devices. As consumers become more comfortable with the idea of wearing technology, they are increasingly interested in wearable payment devices that offer a convenient and secure way to make payments. This trend is likely to continue as wearable technology continues to advance, and more consumers adopt the technology in their daily lives.
However, there are also several restraints to the widespread adoption of wearable payment devices. Limited acceptance at merchants is one significant factor, as not all merchants have adopted the technology yet. Additionally, many wearable payment devices have limited functionality beyond making payments, which may limit their appeal to consumers. Cost is also a concern, as some consumers may be hesitant to invest in a wearable payment device.
Despite these restraints, there are several opportunities for the expansion of wearable payment devices in the financial technology industry. For example, wearable payment devices offer a chance for financial institutions and technology companies to expand into new markets, such as the fitness industry. Integration with loyalty programs is another opportunity, as wearable payment devices can be used to offer consumers incentives to use the devices for payments. Finally, integration with biometric authentication technology, such as facial recognition or fingerprint scanning, is another opportunity, as it can enhance the security and convenience of wearable payment devices.
The wearable payment devices market is segmented 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. The players in the market have been actively engaged in the adoption of various strategies such as product launch and partnerships to remain competitive and gain an advantage over the competitors in the market.
Key Market Insights
By device type, the fitness trackers segment was the highest revenue contributor to the market in 2021, and is expected to follow the same trend during the forecast period. However, the smart watches segment is estimated to be the fastest growing segment during the forecast period.
By technology, the qr and barcode segment was the highest revenue contributor to the market in 2021.
By application, the retail and grocery stores segment generated the largest share in 2021.
By Region, the Asia-Pacific was the highest revenue contributor, accounting for $23,324.3 million in 2021, and is estimated to reach $85,078.2 million by 2031, with a CAGR of 14.23%.
Companies Mentioned
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)
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
Scientific and technical writings for product information and related preemptions
Regional government and statistical databases for macro analysis
Authentic news articles and other related releases for market evaluation
Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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