New York, NY -- (SBWire) -- 03/30/2019 --The Wearable Payments Devices Market is expected to grow from USD 3.12 billion in 2018 to USD 11.21 billion by 2026, at a CAGR of 15.31% during the forecast period. Rise in demand of host card emulation (HCE), rising adoption of cashless transactions, growth of IoT globally, emerging demand of wearable devices and contactless payments and reducing costs of Near Field Communication (NFC) technology deployment, are some of the driving factors of the market.
Security concerns, high cost of the devices and limited battery life of the devices may restrain the growth of the Wearable Payments Devices market.
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The major players covered in this report are: Apple, Xiaomi, Disney, Intelligent Venue Solutions, MasterCard, Fitbits, Barclays, Intellitix, Jawbone, Nymi, Wirecard, Garmin, CaixaBank, PayPal, Gemalto, Westpac, & Samsung, among others
Understanding the market size
The size of the Wearable Payments Devices market is viewed in terms of the Share of Market, Total Available Market as well as Served Available Market. Not only does the study present the combined revenue for a particular market but also the market size for a specific geographic region. Analysis of percentage or the size of the Total Available Market based on the type of product, technology, regional constraints and others form an important part of the Wearable Payments Devices report.
Wearable Payments Devices Market by Type (Revenue, USD Million; 2018-2026)
- Smart Watches
- Fitness Trackers
- Payment Wristbands
Wearable Payments Devices Market by Application (Revenue, USD Million; 2018-2026)
- Retail
- Festivals and Live Events
- Theme Parks
- Transportation
- Sports Stadiums
- Other
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Knowing the trends influencing the industry performance
Stakeholders, marketing executives and business owners planning to refer a market research report can use this study to design their offerings and understand how competitors attract their potential customers and manage their supply and distribution channels. When tracking the trends researchers have made a conscious effort to analyze and interpret the consumer behaviour. Besides, the research helps product owners to understand the changes in culture, target market as well as brands so they can draw the attention of the potential customers more effectively.
Our trend analysts look for the crucial connection between consumer trends, behaviour and values, to provide context for the sectors, demographics and global themes that matter to you.
Further key findings from the report suggest:
- The Wearable Payments Devices market is segmented by type into smart watches, fitness trackers & payment wristbands. The market for smart watches is expected to witness highest growth of approx. CAGR of 16.72% during the forecast period, since several vendors are launching relatively low-priced smart watches, which are connected to smartphones via NFC, RF, or Bluetooth.
- The Wearable Payments Devices market is segmented by application into retail, festivals and live events, theme parks, transportation, sports stadiums & other. The market for retail is driven by the demand of cashless payments at local shops &markets and e-commerce. Payments at festivals and live events will reduce the issues faced due to phone battery life during events and risks of theft or getting broken. On the other hand, payments at theme parks will allow their guests to access lockers, hotel rooms or VIP areas, as well as will also offer payments, from using the items pre-loaded credit to activating 'fast pass' tickets or spending pre-paid "entitlements" like meal plans.
- The Wearable Payments Devices Market is segmented by Geography into North, America, Europe, Asia Pacific, Middle East & Africa and Latin America. APAC is expected to have the highest market share in the market, with a CAGR of 15.79% in the forecast year, due to adoption of smartwatches in the region. Another factor which is driving the market in this region is the China-based companies such as HTC and Huawei Technologies, which are focusing on manufacturing smartwatches at a reasonable price for its consumers.
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Table Of Content:
Chapter 9. Company Profiles
9.1. Apple
9.1.1. Company Overview
9.1.2. Financial Performance
9.1.3. Type Insights
9.1.4. Strategic Initiatives
9.2. Jawbone
9.2.1. Company Overview
9.2.2. Financial Performance
9.2.3. Type Insights
9.2.4. Strategic Initiatives
9.3. Google
9.3.1. Company Overview
9.3.2. Financial Performance
9.3.3. Type Insights
9.3.4. Strategic Initiatives
Continue...
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Wearable Payments Devices Market Report 2018-2026 by Key Players: Apple, Xiaomi, Disney, MasterCard, Fitbits, Barclays, Samsung
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