Press release
Demand for Wearable Payment Devices Market to Expand at an CAGR of 29% Through 2031
Wearable payment devices have witnessed noteworthy growth in the past few years. With the introduction of Host Card Emulation (HCE) and cashless payment methods, several financial institutions and banks have started utilizing the features of these electronic payment devices in order to expand their current customer base. Rise of HCE is attributed to growth is demand for wearable payment devices, as HCE allows wearable devices to allow card imitation on NFC-enabled devices without depending on access to an authenticated element. Furthermore, NFC, RFID, and HCE technologies are integral parts of wearable and contactless payment devices, owing to their features that support a seamless transaction experience.For detailed insights on enhancing your product footprint, request for a sample here – https://www.factmr.com/connectus/sample?flag=S&rep_id=5795
Several manufacturers such as Samsung Electronics and Apple Inc. are integrating payment technologies into their wearable devices to cater to rising customer demand. Additionally, reduction in the cost of NFC technology installation has also contributed to market growth. Wearable payment devices offer a secured shopping experience to customers by using advanced technology incorporated in them.
As per the new report published by Fact.MR, the global wearable payment devices market is anticipated to exceed a valuation of around US$ 15.6 Bn by 2021, and is expected to expand at a mammoth CAGR of around 29% over the forecast period of 2021 to 2031.
For critical insights on this market, request for methodology here – https://www.factmr.com/connectus/sample?flag=RM&rep_id=5795
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.
For in-depth competitive analysis, buy now – https://www.factmr.com/checkout/5795
Why Choose Fact.MR?
Multi-Disciplinary Approach to Solve Market Challenges
Accurate Regional Demand Estimation And Forecast
Data Acquisition from Trusted Multidimensional Sources
Real-Time Competitive Breakdown
Customized Business Solutions
Read More Trending and Similar Reports from Fact.MR – https://www.globenewswire.com/en/news-release/2020/03/09/1997228/0/en/MEMS-Sensor-Market-to-Reach-US-50-Bn-in-2027-Heightening-Prospects-of-Smart-Devices-and-EVs-Favor-Growth-Concludes-Fact-MR-in-a-New-Study.html
Contact:
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
Corporate Headquarter:
Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates
Email: sales@factmr.com
Visit Our Website: https://www.factmr.com
About Us:
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Demand for Wearable Payment Devices Market to Expand at an CAGR of 29% Through 2031 here
News-ID: 2350735 • Views: …
More Releases from Fact.MR
Eye Care Services Market Outlook 2025-2035: Key Developments and Future Scope
The global eye care services market is poised for steady expansion through 2035 as demographic shifts, rising prevalence of refractive and retinal disorders, technological advances, and broader access to care combine to increase demand for comprehensive vision services. From routine vision screening and optical dispensing to advanced diagnostics, cataract and refractive surgeries, and retinal interventions, the market is evolving into an integrated continuum of screening, diagnosis, treatment, and post-operative care.…
Electric Boat Market Outlook 2025-2035: Innovation, Growth, and Demand Trends
The electric boat market is entering a period of accelerated growth as advances in battery and propulsion technology, rising fuel prices, tightening emissions regulations, and shifting consumer preferences for quieter, lower-maintenance vessels converge. From recreational leisure craft and ferries to workboats and short-route passenger vessels, electrification is reshaping marine propulsion - enabling operators to lower operating costs, reduce local pollution, and offer new, experience-driven services in tourism, urban water transport,…
European Breathable Films Market Forecast 2025-2035: Trends and Growth Insights
The breathable films market is set for steady growth over the 2025-2035 period as rising demand across hygiene, medical, packaging, and technical textile applications drives adoption of film technologies that combine moisture vapor transmission with liquid barrier performance. Innovations in polymer science, micro- and macro-porous structures, and multi-layer extrusion are enabling films that deliver both comfort and protection, expanding use in products such as diapers, surgical drapes, wound care dressings,…
European Beer Market Outlook 2025-2035: Innovation, Growth, and Demand Trends
The global beer market is positioned for steady, mature growth through 2035 as shifting consumer preferences, premiumization trends, evolving production technologies, and expanding on-trade and off-trade channels shape demand. While traditional mass-lager consumption remains substantial, growth is increasingly driven by craft, premium, and specialty variants, along with innovation in low- and no-alcohol formulations. Regional dynamics are evolving as Asia-Pacific and select emerging markets sustain volume growth, while North America and…
More Releases for Wearable
Wearable Manicure Market
The "Wearable Manicure Market" is expected to reach USD xx.x billion by 2031, indicating a compound annual growth rate (CAGR) of xx.x percent from 2024 to 2031. The market was valued at USD xx.x billion In 2023.
Growing Demand and Growth Potential in the Global Wearable Manicure Market, 2024-2031
Verified Market Research's most recent report, "Wearable Manicure Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2030," provides an in-depth examination…
Wearable Biosensors Industry: Unveiling Health Insights through Wearable Technol …
The wearable biosensors market is predicted to rise to US$ 65,400.2 Million by 2033 from an estimated US$ 29,648.8 Million in 2023. From 2023 to 2033, the market for wearable biosensors is anticipated to expand at a CAGR of 8.2%.
The wearable biosensors market is revolutionizing personalized healthcare by enabling real-time monitoring of health parameters and providing valuable insights for individuals. Wearable biosensors, integrated into devices such as smartwatches, fitness bands,…
Pet Wearable
Global Pet Wearable Market is valued approximately USD $$ million in 2021 and is anticipated to grow with a healthy growth rate of more than $$ % over the forecast period 2022-2028. The Pet Wearable can be defined as smart wearable devices intended for pets. These devices are utilized for identification and tracking of pets. Pet wearable comprised of different devices such as Smart Collar, Smart Vest, Smart Harness, and…
Wearable Injectors Market | On-body Wearable Injectors, Off-body Wearable Inject …
A report by Transparency Market Research (TMR) throws light on the key dynamics operating within the global market for wearable injectors. The competitive landscape of the global market for wearable injectors has witnessed the entry of several newbie players over the past decade. This abrupt influx of new vendors can be attributed to the large market gap and lucrative growth opportunities floating in the global wearable injectors market. In order…
WEARABLE TECHNOLOGY REVOLUTION IN THE HEALTHCARE INDUSTRY BY DEVICES (WEARABLE M …
The various scientific advancements are constantly transforming the healthcare industry to improve patient care and diagnosis. The advent of smart wearable technology is modifying the healthcare industry in the form of wearable medical devices. Let’s take a look at some of the most trending gadgets that are enhancing the lives of patients using this user-friendly wearable technology:
Biopatches, Bands, and Phone Pads for Heart Rate Monitoring:
Biopatches are lightweight, wireless diagnostic wearable…
Wearable Electronic Devices Market,Wearable Electronic Devices Industry, Global …
Latest industry research report on: Global Wearable Electronic Devices Market : Industry Size, Share, Research, Reviews, Analysis, Strategies, Demand, Growth, Segmentation, Parameters, Forecasts
This report studies the global Wearable Electronic Devices market status and forecast, categorizes the global Wearable Electronic Devices market size (value & volume) by manufacturers, type, application, and region. This report focuses on the top manufacturers in United States, Europe, China, Japan, South Korea and Taiwan and other…
