openPR Logo
Press release

Innovation in Cashless Payment Shaping Europe Wearable Technology Market

01-23-2017 12:41 PM CET | IT, New Media & Software

Press release from: TMR

Innovation in Cashless Payment Shaping Europe Wearable

urope has always been at the forefront of scientific and technological innovation. Its place as an influential player has been strengthened by the economic might of countries such as Germany and the U.K. and, undaunted by recent economic troubles in the EU, the region still counts as one of the prime markets for premium consumer goods. Naturally, the wearable technology market is going strong in Europe.

Largely rejected in emerging countries owing to their high costs, wearable tech devices have surged in demand in North America and Europe, the two most prosperous regions in the world. According to leading market intelligence firm Transparency Market Research, the Europe wearable technology market was worth more than US$0.3 bn in 2013. At an astounding 42.1% CAGR from 2014 to 2019, the market is expected to rise to a valuation of more than US$2.5 bn.

Visa Leading Charge of Wearable Payment Devices

Cashless payments are expected to become the norm in Europe soon, thanks to the proliferation of smart cards and the ease of use of cashless payments. To this view, wearable technology giants are gearing up to produce the next winner in the cashless payment devices market.

Visa, one of the leading cashless payment gateways around the world, teamed up with students from Central Saint Martins, a London-based arts school, to come up with innovative ideas for futuristic wearable devices that will help the wearer in cashless payments.

Browse Research Report:

The three notable results of this collaboration were Budgeteer, a sensor device to be worn on the wrist and one that saves the wearer’s expenses simply through particular motions of the fingers; Small Change, a device meant to facilitate the transition to a coin-free world by enabling the wearer to pay small change digitally through a linked bank account; and Thread, a fashion-oriented wearable device that can be used to compare and review garments wirelessly. Neither of these innovations is expected to be put into production any time soon, but they reveal the direction the Europe wearable technology is expected to take in the coming years.

Another major invention in the field of cashless payment through wearable technology is the Kerv ring. Designed by London-based Kerv, the ring utilizes NFC to enable cashless payment without the need for even a smartphone. The Kerv ring doesn’t even need to be charged up, which addresses the major restraint that has held the Europe wearable technology market back in recent years.

High Costs, Low Batteries Hold Back Europe Wearable Technology Market

The high costs of wearable devices, which are often geared to an extremely specific purpose, have been a major restraint for the Europe market in recent years. With growing prosperity, the markets for wearable technology in North European countries such as Germany, Denmark, Sweden, the U.K., and Norway are growing. The size constraints on wearable devices, due to the need to keep them light and ergonomic, have also resulted in disappointing battery life for most wearable technology. Advances in this field could rejuvenate the wearable technology market in Europe.

For Technological breakthroughs, Value chain and stakeholder analysis Get Brochure:

Most consumers in Europe purchase wearable technology to monitor their fitness and wellness, with devices such as sleep sensors, running watches, and activity monitors dominating the market. Heart rate monitors and blood glucose monitors are also expected to be major categories in the coming years.

About Us

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

US Office Contact

90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453

This release was published on openPR.

Permanent link to this press release:

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 Innovation in Cashless Payment Shaping Europe Wearable Technology Market here

News-ID: 419434 • Views:

More Releases from TMR

Emerging Opportunities in Logistics Market with Current Trends Analysis
Emerging Opportunities in Logistics Market with Current Trends Analysis
The global Logistics market is estimated to attain a valuation of US$ 15,273.21 Bn by the end of 2027, states a study by Transparency Market Research (TMR). Besides, the report notes that the market is prognosticated to expand at a CAGR of 4.5% during the forecast period, 2019-2027. The key objective of the TMR report is to offer a complete assessment of the global market including major leading stakeholders of the
Energy Measurement IC Market is expected to reach US$ 8.39 Bn by the end of 2031
According to a Transparency Market Research (TMR) research report, the global energy measurement ic market is likely to expand at a CAGR of 7.4% during the forecast period, 2022 to 2031. This suggests that the market is expected to reach US$ 8.39 Bn by the end of 2031. The study on the energy measurement ic market adopts rigorous and systematic research approaches to understand the growth dynamic of the market. The
STATCOM UPS Market to Register Double Digit Growth Rate of 16% CAGR by 2024
Over the last decade, rising number of industries and utilities are opting for static synchronous compensator or STATCOM UPS instead of static VAR compensator or SVC UPS. Low harmonic emission coupled with high speed of response is accentuating the expansion of India STATCOM UPS market now and in times to come. Playing a crucial role in voltage control and compensation of reactive power, STATCOM UPS is likely to keep its
Thin Wafer Processing and Dicing Equipment Market US$692.5 mn by 2024 - TMR
Transparency Market Research (TMR) estimates that the global thin wafer processing and dicing equipment market has a highly consolidative landscape. Disco Corp. accounted for largest share of 56.4% in 2015 and likely to be dominant in the coming years. This is creating monopoly in the thin wafer processing and dicing equipment market in terms of competitive presence. The other key players such as EV Group, Plasma-Therm LLC, Lam Research Corp,

All 5 Releases

More Releases for Europe

Strategy Consulting Market 2025 | Analysis By Top Key Players: Booz & Co. , Rola …
Global Strategy Consulting Market 2019-2025, has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. The key players covered in this study McKinsey , The Boston Consulting Group , Bain & Company , Booz & Co. , Roland Berger Europe
Influenza Vaccination Market Global Forecast 2018-25 Estimated with Top Key Play …
UpMarketResearch published an exclusive report on “Influenza Vaccination market” delivering key insights and providing a competitive advantage to clients through a detailed report. The report contains 115 pages which highly exhibits on current market analysis scenario, upcoming as well as future opportunities, revenue growth, pricing and profitability. This report focuses on the Influenza Vaccination market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This
Global Strategy Consulting Market Research Report 2018-2025 | Global Key Player …
An up-to-date research report has been disclosed by Market Research Hub highlighting the title “Global Strategy Consulting Market Size, Status and Forecast 2018-2025” which provides an outlook for current market value as well as the expected growth of Strategy Consulting during 2018-2025. The report studies the casing heads market worldwide, especially in North America, China, Europe, Southeast Asia, Japan and India, with production, size, growth, revenue, consumption, import and export
Strategy Consulting Market Deep Insights with Core Business Strategies 2018 - Ro …
Strategy Consulting Market report provides a vital recent industry data which covers in general market situation along with future scenario for industry around the Globe. It also consist of major data along with forecasts of a global market along with clear presentation of diagrams (charts and tables). Global strategy consulting market size status and forecast 2025 has a vast collection of market research reports concerning the software industry, its sub-sectors, and
Wearable Heart Monitoring Devices Market 2018 To 2023 – Top Leaders Beurer Gmb …
The Worldwide Wearable Heart Monitoring Devices Market is growing at a healthy rate. The major players in this market are Medtronic (U.S.), Kinetec Products UK Ltd. (South America), Beurer GmbH (Europe), Medisana AG (Europe), Briggs Healthcare (U.S.), Polar Electro (Europe), SUUNTO (Europe), Koninklijke Philips N.V. (Europe), Garmin Ltd. (Europe) and others. The Wolrdwide Wearable Heart Monitoring devices is segmented on the basis of products, type, application, and end users. On
Surgical Equipment Market 2018 Leading Manufacturer in Europe, the Middle East & …
The Europe, the Middle East & Africa Surgical Equipment Market is expected to grow at an approximate CAGR of 6.7% during the forecast period. A surgical equipment is a designed tool or device to carry out various surgical procedures so as to modifying biological tissues and to provide access for viewing them. The surgical equipment can be designed specifically for a particular surgery or it can be used as general purpose