Contactless Wearable Payment Device Market Insights, Global Outlook and Forecast 2022-2028
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Wearable devices are the smart electronic devices that are worn in close contact with the skin. Smart watches, wrist bands and smart rings are some examples of the most popular wearable devices in the recent times. They can detect, analyze and transmit information about the vital signs of the body. They are devices which use the application of internet of things (IoT) as the data is actively exchanged with the operator, manufacturer and other connected devices. These devices are also used for contactless payment.
The latest research study released by Market IntelliX evaluates market size and forecasts of Contactless Wearable Payment Device in global, including the following market information:
Global Contactless Wearable Payment Device Market Revenue, 2017-2022, 2023-2028, ($ millions)
Global Contactless Wearable Payment Device Market Sales, 2017-2022, 2023-2028, (Units)
Global top five Contactless Wearable Payment Device companies in 2021 (%)
The global Contactless Wearable Payment Device market was valued at million in 2021 and is projected to reach US$ million by 2028, at a CAGR of % during the forecast period 2022-2028.
The U.S. Market is Estimated at $ Million in 2021, While China is Forecast to Reach $ Million by 2028.
Smart Watches Segment to Reach $ Million by 2028, with a % CAGR in next six years.
The global key manufacturers of Contactless Wearable Payment Device include Apple, Samsung Electronics, Fitbit Inc, Garmin AB, Xiaomi Corporation, American Express, Barclays, LG Electronics and Fossil Group, etc. In 2021, the global top five players have a share approximately % in terms of revenue.
MI has surveyed the Contactless Wearable Payment Device manufacturers, suppliers, distributors and industry experts on this industry, involving the sales, revenue, demand, price change, product type, recent development and plan, industry trends, drivers, challenges, obstacles, and potential risks.
Market Segmentations:
Global Contactless Wearable Payment Device Market, by Type, 2017-2022, 2023-2028 ($ Millions) & (Units)
Global Contactless Wearable Payment Device Market Segment Percentages, by Type, 2021 (%)
Smart Watches
Fitness Trackers
Payment Wristbands
Smart Rings
Global Contactless Wearable Payment Device Market, by Application, 2017-2022, 2023-2028 ($ Millions) & (Units)
Global Contactless Wearable Payment Device Market Segment Percentages, by Application, 2021 (%)
Online Store
Supermarket
Electronics Retail Store
Other
Global Contactless Wearable Payment Device Market, By Region and Country, 2017-2022, 2023-2028 ($ Millions) & (Units)
Global Contactless Wearable Payment Device Market Segment Percentages, By Region and Country, 2021 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies Contactless Wearable Payment Device revenues in global market, 2017-2022 (Estimated), ($ millions)
Key companies Contactless Wearable Payment Device revenues share in global market, 2021 (%)
Key companies Contactless Wearable Payment Device sales in global market, 2017-2022 (Estimated), (Units)
Key companies Contactless Wearable Payment Device sales share in global market, 2021 (%)
The report presents profiles of competitors in the market Some of the prominent key players covered:
Apple
Samsung Electronics
Fitbit Inc
Garmin AB
Xiaomi Corporation
American Express
Barclays
LG Electronics
Fossil Group
GOQii
STMicroelectronics
INSIDE Secure
Infineon Technologies
Gemalto N.V.
Giesecke & Devrient GmbH
Oberthur Technologies
Diebold Inc
HID Global
MCR Systems
Heartland Payment Systems, Inc
Ingenico Group
Key Takeaways from this Report
Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals.
Understand the different dynamics influencing the market – key driving factors, challenges and hidden opportunities.
Get in-depth insights on your competitor performance – market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
Analyze the sales and distribution channels across key geographies to improve top-line revenues.
Understand the industry supply chain with a deep-dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.
Get a quick outlook on the market entropy – M&A’s, deals, partnerships, product launches of all key players for the past 4 years.
Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.
- 1.1 Research Objective
- 1.2 Scope of the Study
- 1.3 Definition
- 1.4 Assumptions & Limitations
Chapter 2: Executive Summary
- 2.1 Market Snapshot
Chapter 3: Market Dynamics Analysis and Trends
- 3.1 Market Dynamics
- 3.1.1 Market Growth Drivers
- 3.1.2 Market Restraints
- 3.1.3 Available Market Opportunities
- 3.1.4 Influencing Trends
Chapter 4: Market Factor Analysis
- 4.1 Porter’s Five Forces Analysis
- 4.2 Bargaining power of suppliers
- 4.3 Bargaining power of buyers
- 4.4 Threat of substitute
- 4.5 Threat of new entrants
- 4.6 Porter's Five Forces Analysis
- 4.7 Value Chain Analysis
- 4.8 Market Impact Analysis
- 4.9 Regional Impact
- 4.10 Pricing Analysis
- 4.11 Import-Export Analysis
Chapter 5: Competitive Landscape
- 5.1 Company Market Share/Positioning Analysis
- 5.2 Key Strategies Adopted by Players
- 5.3 Vendor Landscape
- 5.3.1 List of Suppliers
- 5.3.2 List of Buyers
Chapter 6: Contactless Wearable Payment Device Market Company Profiles
- 6.1 Competitive Landscape
- 6.1.1 Competitive Benchmarking
- 6.1.2 Contactless Wearable Payment Device Market Share by Manufacturer (2023)
- 6.1.3 Industry BCG Matrix
- 6.1.4 Heat Map Analysis
- 6.1.5 Mergers and Acquisitions
- 6.2 Apple, Samsung Electronics, Fitbit Inc, Garmin AB, Xiaomi Corporation, American Express, Barclays, LG Electronics, Fossil Group, GOQii, STMicroelectronics, INSIDE Secure, Infineon Technologies, Gemalto N.V., Giesecke & Devrient GmbH, Oberthur Technologies, Diebold Inc, HID Global, MCR Systems, Heartland Payment Systems, Inc, Ingenico Group
- 6.2.1 Company Overview
- 6.2.2 Product/ Services Offerings
- 6.2.3 SWOT Analysis
- 6.2.4 Financial Performance
- 6.2.5 KEY Strategies
- 6.2.6 Key Strategic Moves and Recent Initiatives
Chapter 7: Contactless Wearable Payment Device Market, By Type
- 7.1 Overview
- 7.1.1 Market size and forecast
- 7.2 Smart Watches, Fitness Trackers, Payment Wristbands, Smart Rings
- 7.2.1 Key market trends, factors driving growth, and opportunities
- 7.2.2 Market Size Estimates and Forecasts to 2032, by region
- 7.2.3 Market analysis by country
Chapter 8: Contactless Wearable Payment Device Market, By Application
- 8.1 Overview
- 8.1.1 Market size and forecast
- 8.2 Online Store, Supermarket, Electronics Retail Store
- 8.2.1 Key market trends, factors driving growth, and opportunities
- 8.2.2 Market Size Estimates and Forecasts to 2032, by region
- 8.2.3 Market analysis by country
Chapter 9: Analyst Viewpoint and Conclusion
- 9.1 Recommendations and Concluding Analysis
- 9.2 Potential Market Strategies
Chapter 10: RESEARCH METHODOLOGY
- 10.1 Overview
- 10.2 Data Mining
- 10.3 Secondary Research
- 10.4 Primary Research
- 10.4.1 Primary Interviews and Information Gathering Process
- 10.4.2 Breakdown of Primary Respondents
- 10.5 Forecasting Model
- 10.6 Market Size Estimation
- 10.6.1 Bottom-Up Approach
- 10.6.2 Top-Down Approach
- 10.7 Data Triangulation
- 10.8 Validation
Research Methodology:
Contactless Wearable Payment Device Market Size Estimation
To estimate market size and trends, we use a combination of top-down and bottom-up methods. This allows us to evaluate the market from various perspectives—by company, region, product type, and end users.
Our estimates are based on actual sales data, excluding any discounts. Segment breakdowns and market shares are calculated using weighted averages based on usage rates and average prices. Regional insights are determined by how widely a product or service is adopted in each area.
Key companies are identified through secondary sources like industry reports and company filings. We then verify revenue estimates and other key data points through primary research, including interviews with industry experts, company executives, and decision-makers.
We take into account all relevant factors that could influence the market and validate our findings with real-world input. Our final insights combine both qualitative and quantitative data to provide a well-rounded view. Please note, these estimates do not account for unexpected changes such as inflation, economic downturns, or policy shifts.
Data Source
Secondary Sources
This study draws on a wide range of secondary sources, including press releases, annual reports, non-profit organizations, industry associations, government agencies, and customs data. We also referred to reputable databases and directories such as Bloomberg, Wind Info, Hoovers, Factiva, Trading Economics, Statista, and others. Additional references include investor presentations, company filings (e.g., SEC), economic data, and documents from regulatory and industry bodies.
These sources were used to gather technical and market-focused insights, identify key players, analyze market segmentation and classification, and track major trends and developments across industries.
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Primary Sources
As part of our primary research, we interviewed a variety of stakeholders from both the supply and demand sides to gather valuable qualitative and quantitative insights.
On the supply side, we spoke with product manufacturers, competitors, industry experts, research institutions, distributors, traders, and raw material suppliers. On the demand side, we engaged with business leaders, marketing and sales heads, technology and innovation directors, supply chain executives, and end users across key organizations.
These conversations helped us better understand market segmentation, pricing, applications, leading players, supply chains, demand trends, industry outlook, and key market dynamics—including risks, opportunities, barriers, and strategic developments.
Key Data Information from Primary Sources
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