Wearable Payment Devices Market
Wearable Payment Devices Market - Global Industry Assessment & Forecast
Segments Covered
- By Device Type Smart Watches, Fitness Trackers, Payment Wristbands, Smart Rings
- By Technology Near Field Communication Technology (NFC), Radio Frequency Identification (RFID), QR & Barcode
- By Sales Channel Direct Sales, Indirect Sales
- By Application Retail/Grocery Stores, Restaurants, Hospitals/Pharmacies, Entertainment Centers, Others
- By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Snapshot
Base Year: | 2022 |
Forecast Years: | 2023 - 2030 |
Historical Years: | 2017 - 2021 |
Revenue 2022: | USD 47.50 Billion |
Revenue 2030: | USD 127.19 Billion |
Revenue CAGR (2023 - 2030): | 13.10% |
Fastest Growing Region (2023 - 2030) | Asia Pacific |
Largest Region (2022): | Asia Pacific |
Customization Offered
- Cross-segment Market Size and Analysis for Mentioned Segments
- Additional Company Profiles (Upto 5 With No Cost)
- Additional Countries (Apart From Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
- Production Analysis
- Others Request Customization Speak To Analyst
Research Methodology: Wearable Payment Devices Market by Device Type by Technology by Sales Channel by Application by Region - Global Market Assessment, 2021 - 2028
Secondary Research
Primary Research:
The next stage involves the primary research conducted to gather further information and revalidate the data collected from the secondary research. Moreover, primary research is also conducted to identify key players in the market and to gather their market-specific financial information. A typical primary interview fulfills the following data requirements:
- First-hand information global market size, regional and segmental trends, competitive landscape
- Validate and authorization of secondary research outcomes and findings
- Further data collection and expertise development & market understandings
Data Triangulation and Market Size Estimations
After the determination of the overall market size through secondary and primary research, the market is divided into various segments and sub-segments. Moreover, top-down and bottom-up approaches were used to derive and estimate market numbers for mentioned segments/sub-segments in the market. During the data triangulation process, the data was analyzed by employing various data models and statistical techniques to arrive at exact statistics and market size for each segment/sub-segment of the market. The data is analyzed and triangulated by considering all the key market impacting factors from both supply and demand side of Wearable Payment Devices market.
FAQ
Frequently Asked Question
What is the global demand for Wearable Payment Devices in terms of revenue?
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The global Wearable Payment Devices valued at USD 47.50 Billion in 2022 and is expected to reach USD 127.19 Billion in 2030 growing at a CAGR of 13.10%.
Which are the prominent players in the market?
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The prominent players in the market are Apple Inc. (US), Samsung Electronics Co. Ltd. (South Korea), Fitbit Inc. (US), Garmin AB (Switzerland), Xiaomi Corporation (China).
At what CAGR is the market projected to grow within the forecast period?
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The market is project to grow at a CAGR of 13.10% between 2023 and 2030.
What are the driving factors fueling the growth of the market.
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The driving factors of the Wearable Payment Devices include
- Growing inclination toward contactless payment methods due to hygiene concerns amid COVID-19
Which region accounted for the largest share in the market?
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Asia Pacific was the leading regional segment of the Wearable Payment Devices in 2022.