Wearable payment refers to transactions between wearable devices and contactless payment terminals like NFC. NFC is a standard-based short-range (about 10 cm) connectivity that uses high-frequency wireless communication technology. This technology enables peer-to-peer communication between two devices, by bringing them in close proximity. End-users use this technology to transfer information from their devices to contactless payment terminals such as smartphones and NFC tags. The technology involves a direct transfer of data between wearable devices and POS devices.
According to the report, one of the primary drivers in the market is declining cost of NFC technology. The global wearable payment market is driven by the declining cost of NFC technology. The technology has become more affordable for device manufacturers that integrate the technology into wearable devices. In addition, as the number of vendors offering wearable devices is increasing, it is likely to support the growth of the wearable payment in the coming years. The declining price of NFC technology and the growth of the NFC ecosystem that supports various NFC applications have encouraged vendors to integrate NFC technology into wearable devices. Jawbone launched the fitness device UP4, which is integrated with payment technology. This will likely encourage more people to adopt NFC-enabled wearable devices, which will in turn, drive the growth of the global wearable payment market during the forecast period.
The global Wearable Payment market is valued at xx million US$ in 2018 and will reach xx million US$ by the end of 2025, growing at a CAGR of xx% during 2019-2025. The objectives of this study are to define, segment, and project the size of the Wearable Payment market based on company, product type, end user and key regions.
This report studies the global market size of Wearable Payment in key regions like North America, Europe, Asia Pacific, Central & South America and Middle East & Africa, focuses on the consumption of Wearable Payment in these regions.
This research report categorizes the global Wearable Payment market by top players/brands, region, type and end user. This report also studies the global Wearable Payment market status, competition landscape, market share, growth rate, future trends, market drivers, opportunities and challenges, sales channels and distributors.
The following manufacturers are covered in this report, with sales, revenue, market share for each company:
Market size by Product
Market size by End User
Market size by Region
Central & South America
Rest of Central & South America
Middle East & Africa
The study objectives of this report are:
To study and analyze the global Wearable Payment market size (value & volume) by company, key regions, products and end user, breakdown data from 2014 to 2018, and forecast to 2025.
To understand the structure of Wearable Payment market by identifying its various subsegments.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
Focuses on the key global Wearable Payment companies, to define, describe and analyze the sales volume, value, market share, market competition landscape and recent development.
To project the value and sales volume of Wearable Payment submarkets, with respect to key regions.
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
In this study, the years considered to estimate the market size of Wearable Payment are as follows:
History Year: 2014-2018
Base Year: 2018
Estimated Year: 2019
Forecast Year 2019 to 2025
This report includes the estimation of market size for value (million US$) and volume (K Units). Both top-down and bottom-up approaches have been used to estimate and validate the market size of Wearable Payment market, to estimate the size of various other dependent submarkets in the overall market. Key players in the market have been identified through secondary research, and their market shares have been determined through primary and secondary research. All percentage shares, splits, and breakdowns have been determined using secondary sources and verified primary sources.
For the data information by region, company, type and application, 2018 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.