ICT companies are extensively adopting technologies such as cloud computing and artificial intelligence to ensure seamless operations as teams continue working from home. Focus on fast automation, use of real-time operation within various end-use sectors such as automotive, food & beverage and others will provide stimulus to the growth.
The report offers actionable and valuable market insights of Wearable Payment Devices. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Wearable Payment Devices Market across various industries and regions.
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Analysis on Market Size Evaluation
The market has been analyzed for each market segment in terms of volume (units) and value (US$ Mn). Market estimates at global and regional levels for wearable payment devices are available in terms of “US$ Mn”. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report.
Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a solution provider can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global wearable payment devices market.
Key Takeaways from Market Study
- South Asia is estimated to witness major growth during the forecast period (34% during 2021 – 2031).
- North America is anticipated to register the highest market share of around 31%, followed by Europe.
- In 2020, North America and Europe together accounted for 57% of global wearable payment device sales. The European market is expected to offer over US$ 35.6 Bn absolute dollar opportunity over the next ten years.
- In terms of device type, fitness trackers and payment wristbands together held around three-fourth of the global market share in 2020.
- Under technology, barcodes are estimated to cover a higher market share, accounting for around 30% of the market.
- Among the applications, with over 28%, retail accounted for the highest share of wearable payment devices.
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Key Market Segments Covered
- By Device Type
- Fitness Trackers
- Payment Wristbands
- Smart Watches
- By Technology
- Contactless Point of Sale Terminals
- Near Field Communication (NFC Wearable Payment Devices)
- Quick Response (QR) Codes
- Radio Frequency Identification (RFID Wearable Payment Devices)
- By Application
- Wearable Payment Devices for Festivals & Life Events
- Fitness Wearable Payment Devices
- Healthcare Wearable Payment Devices
- Retail Wearable Payment Devices
- Wearable Payment Devices for Transportation
- By Region
- North America
- Latin America
- East Asia
- South Asia
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- Market Analysis of Wearable Payment Devices
- Market Insights of Wearable Payment Devices
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More Valuable Insights on Wearable Payment Devices Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Wearable Payment Devices, Sales and Demand of Wearable Payment Devices, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.