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PUBLISHER: SPER Market Research Pvt. Ltd. | PRODUCT CODE: 1235118

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PUBLISHER: SPER Market Research Pvt. Ltd. | PRODUCT CODE: 1235118

Wearable Payment Device Market Size- By Device, By Technology, By Sales Channel, By Application- Regional Outlook, Competitive Strategies and Segment Forecast to 2032

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Global Wearable Payment Device Market Overview

According to SPER Market Research, the Global Wearable Payment Device Market is estimated to reach USD 179.11 billion by 2032 with a CAGR of 13.85%.

Anything that can be fastened to the body and used to accept payments of any kind is a wearable. Smartwatches and fitness trackers are the two wearables that are most commonly utilised. They connect a gadget to a user's bank account via platforms like Apple Pay and Samsung Pay. Also, with innovations like smartwatches, virtual reality and augmented reality, smart jackets, and a wide range of other gadgets, we are moving towards a more linked existence.

In the context of healthcare, wearable technology refers to electronic devices that people can wear, such Fitbits and smartwatches, and which are designed to collect data on their activity and health. The healthcare industry, which has a huge range of possible uses, is one of the most lucrative areas for wearables. Smartwatches can monitor your heart rate and activity levels for diagnostic and preventative purposes, stress levels can be monitored using bracelets, sweat patches can analyse sweat samples, and ingestible can monitor your digestive system.

It is possible to use a wearable connected to a smartphone to do crucial tasks. The usability of technology has increased recently. The market would most likely experience rapid growth throughout the projection period as a result of these factors. Future sales of smartphones-compatible smartwatches are expected to rise more swiftly. Wearable payment devices are getting smaller than ever thanks to new technologies and form factors, which calls for the use of tiny batteries to power payment capabilities. Furthermore, when a wearable device is run by cutting-edge operating systems, a sizable battery backup is required to ensure uninterrupted operation.

Impact of COVID-19 on the Global Wearable Payment Device Market

The COVID-19 pandemic has had a complex impact on the global wearable payment device market. While the reduced demand for these devices due to decreased foot traffic in physical stores has presented challenges, the pandemic has also accelerated the adoption of digital payments and contactless payment options. This has led to increased demand for wearable payment devices that provide these features, creating new opportunities for growth and investment. However, supply chain disruptions and delays in product launches due to the pandemic have also posed challenges for companies in the wearable payment device market. Overall, the long-term outlook for the market remains positive, as the adoption of digital payments and contactless payment options continues to grow, and consumers increasingly look to wearable devices for their payment needs.

Scope of the Report

Report Metric Details:

  • Market size available for years: 2019-2032
  • Base year considered: 2021
  • Forecast period: 2022-2032
  • Segments covered: By Application, By Device, By Sales Channel, By Technology.
  • Regions covered: Asia-Pacific, Europe, Middle East and Africa, North America, Latin America
  • Companies Covered: Apple Inc. (US), Samsung Electronics Co., Ltd. (South Korea), Fitbit Inc. (US), Garmin AB (Switzerland), Xiaomi Corporation (China), Google LLC (US), PayPal Holding Inc. (US), Barclays PLC (UK), MasterCard, VISA Inc. (US), Tappy Technologies Ltd. (US)

Target Audience:

  • Financial Institutions
  • Retailers
  • Technology Providers
  • Government and regulatory bodies

Global Wearable Payment Device Market Segmentation:

  • By Application: Based on the Application, Global Wearable Payment Device Market is segmented as; Retail/Grocery Stores, Restaurants, Hospitals/Pharmacies, Entertainment Centers
  • By Device: Based on the Device, Global Wearable Payment Device Market is segmented as; Smart Watches, Fitness Tracker, Payment Wristbands, Smart Rings
  • By Technology: Based on the Technology, Global Wearable Payment Device Market is segmented as; Near-field Communication Technology (NFC), Radio Frequency Identification (RFID), QR & Bar Codes
  • By Region: The Global Wearable Payment Device Market report covers Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the United Kingdom, and the United States
Product Code: IACT2361

Table of Contents

1. Introduction

  • 1.1. Scope of the report
  • 1.2. Market segment analysis

2. Research Methodology

  • 2.1 Research data source
    • 2.1.1 Secondary data
    • 2.1.2 Primary data
    • 2.1.3 SPER's internal database
    • 2.1.4 Premium insight from KOL's
  • 2.2 Market size estimation
    • 2.2.1 Top-down and Bottom-up approach
  • 2.3 Data triangulation

3. Executive Summary

4. Market Dynamics

  • 4.1. Driver, Restraint, Opportunity and Challenges analysis
    • 4.1.1 Drivers
    • 4.1.2 Restraints
    • 4.1.3 Opportunities
    • 4.1.4 Challenges
  • 4.2. COVID-19 Impacts of the Global Wearable Payment Device Market

5. Market variables and outlook

  • 5.1. SWOT analysis
    • 5.1.1 Strengths
    • 5.1.2 Weaknesses
    • 5.1.3 Opportunities
    • 5.1.4 Threats
  • 5.2. PESTEL analysis
    • 5.2.1 Political landscape
    • 5.2.2 Economic landscape
    • 5.2.3 Social landscape
    • 5.2.4 Technological landscape
    • 5.2.5 Environmental landscape
    • 5.2.6 Legal landscape
  • 5.3. PORTER'S five forces analysis
    • 5.3.1 Bargaining power of suppliers
    • 5.3.2 Bargaining power of Buyers
    • 5.3.3 Threat of Substitute
    • 5.3.4 Threat of new entrant
    • 5.3.5 Competitive rivalry
  • 5.4. Heat map analysis

6. Competitive Landscape

  • 6.1 Global Wearable Payment Device Manufacturing Base Distribution, Sales Area, Product Type
  • 6.2 Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Wearable Payment Device Market

7. Global Wearable Payment Device Market, By Application, 2019-2032 (USD Million)

  • 7.1 Entertainment Centers
  • 7.2 Hospitals/Pharmacies
  • 7.3 Restaurants
  • 7.4 Retail/Grocery Stores

8. -Global Wearable Payment Device Market, By Device, 2019-2032 (USD Million)

  • 8.1 Fitness Tracker
  • 8.2 Payment Wristbands
  • 8.3 Smart Rings
  • 8.4 Smart Watches

9. Global Wearable Payment Device Market, By Sales Channel, 2019-2032 (USD Million)

  • 9.1 Direct Sales
  • 9.2 Indirect Sales

10. Global Wearable Payment Device Market, By Technology, 2019-2032 (USD Million)

  • 10.1 Near-field Communication Technology (NFC)
  • 10.2 QR & Bar Codes
  • 10.3 Radio Frequency Identification (RFID)

11. Global Wearable Payment Device Market, By Region, 2019-2032 (USD Million)

  • 11.1 Global Wearable Payment Device Market Size and Market Share by Region (2019-2025)
  • 11.2 Global Wearable Payment Device Market Size and Market Share by Region (2026-2032)
  • 11.3 Asia-Pacific
    • 11.3.1 Australia
    • 11.3.2 China
    • 11.3.3 India
    • 11.3.4 Japan
    • 11.3.5 South Korea
    • 11.3.6 Rest of Asia-Pacific
  • 11.4 Europe
    • 11.4.1 France
    • 11.4.2 Germany
    • 11.4.3 Italy
    • 11.4.4 Spain
    • 11.4.5 United Kingdom
    • 11.4.6 Rest of Europe
  • 11.5 Middle East and Africa
    • 11.5.1 Kingdom of Saudi Arabia
    • 11.5.2 United Arab Emirates
    • 11.5.3 Rest of Middle East & Africa
  • 11.6 North America
    • 11.6.1 Canada
    • 11.6.2 Mexico
    • 11.6.3 United States
  • 11.7 Latin America
    • 11.7.1 Argentina
    • 11.7.2 Brazil
    • 11.7.3 Rest of Latin America

12. Company Profiles

  • 12.1 Apple Inc. (US)
    • 12.1.1 Company details
    • 12.1.2 Financial outlook
    • 12.1.3 Product summary
    • 12.1.4 Recent developments
  • 12.2 Samsung Electronics Co., Ltd. (South Korea)
    • 12.2.1 Company details
    • 12.2.2 Financial outlook
    • 12.2.3 Product summary
    • 12.2.4 Recent developments
  • 12.3 Fitbit Inc. (US)
    • 12.3.1 Company details
    • 12.3.2 Financial outlook
    • 12.3.3 Product summary
    • 12.3.4 Recent developments
  • 12.4 Garmin AB (Switzerland)
    • 12.4.1 Company details
    • 12.4.2 Financial outlook
    • 12.4.3 Product summary
    • 12.4.4 Recent developments
  • 12.5 Xiaomi Corporation (China)
    • 12.5.1 Company details
    • 12.5.2 Financial outlook
    • 12.5.3 Product summary
    • 12.5.4 Recent developments
  • 12.6 Google LLC (US)
    • 12.6.1 Company details
    • 12.6.2 Financial outlook
    • 12.6.3 Product summary
    • 12.6.4 Recent developments
  • 12.7 PayPal Holding Inc. (US)
    • 12.7.1 Company details
    • 12.7.2 Financial outlook
    • 12.7.3 Product summary
    • 12.7.4 Recent developments
  • 12.8 Barclays PLC (UK)
    • 12.8.1 Company details
    • 12.8.2 Financial outlook
    • 12.8.3 Product summary
    • 12.8.4 Recent developments
  • 12.9 MasterCard
    • 12.9.1 Company details
    • 12.9.2 Financial outlook
    • 12.9.3 Product summary
    • 12.9.4 Recent developments
  • 12.10 VISA Inc. (US)
    • 12.10.1 Company details
    • 12.10.2 Financial outlook
    • 12.10.3 Product summary
    • 12.10.4 Recent developments
  • 12.11 Tappy Technologies Ltd. (US)
    • 12.11.1 Company details
    • 12.11.2 Financial outlook
    • 12.11.3 Product summary
    • 12.11.4 Recent developments

13. List of Abbreviations

14. Reference Links

15. Conclusion

16. Research Scope

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