Product Overview

Wearable payments are the protected and secured form of payment provided by customers for the buy-out of goods or services by integrated smart technology. The use of advanced technology, integrated in their wearable devices, is a secure way for consumer payment purchases. It is recognized by many retailers and associations as the tap-and-go payment system, which provides retailers and sellers safe and error-free payment methods. Furthermore, many financial firms offer wearable payment solutions to expand their consumer base worldwide and enhance outdoor shopping experiences.

Market Highlights

Global Wearable Payments market is expected to project a notable CAGR of 23.53% in 2030.

Global Wearable Payments market to surpass USD 2900 billion by 2030 from USD 350.66 billion in 2020 at a CAGR of 23.53% in the coming years, i.e., 2021-30. Substantial growth in demand for Wearable Payments from end-user industries coupled with increased demand for Host Card Emulation (HCE) and growing acceptance of digital payment. HCE allows mobile or wearable devices, without needing access to an authenticated feature, for card imitation on NFC-activated devices. In addition, due to its rapid payment capacity, the continued growth for wearable payment devices is expected to drive the growth of the market in the upcoming years. Many wearable payment systems are used in e-banking platforms. These platforms concentrate on the incorporation of NFC technology in their transactions, which enables smooth payments.

Global Wearable Payments Market: Segments

Barcode segment to grow with the highest CAGR during 2020-30

Global Wearable Payments Market is segmented by Technology Type into Barcode, Contactless Point of Sale (POS), Near-field Communication Technology (NFC), and Radio Frequency Identification (RFID). Barcode, segment held the largest market share in the year 2020 as distributors is working at checkouts to remove friction and enhance overall customer service. Wearable Payment Systems are encoded with scan-and-go application barcode scanners. This technology helps consumers to check their goods easily when shopping. The barcode system also helps retailers to escape the need for a conventional and permanent point of sale.

Smartwatches segment to grow with the highest CAGR during 2020-30

Global Wearable Payments Market is divided by Device Type into Smart Rings, Fitness Tracker, Smart Watches, and Others. The Smartwatch segment held the largest market share in the year 2020 and will continue to dominate the market in the coming years. Smartwatches are bound to enhance their adoption over the projected timeframe, with the rising emphasis on releasing low-priced smartwatches. These smartphones are accessible via Bluetooth, NFC, or RF to smartphones, making it easier for consumers to pay their bills including Bluetooth connective technology in the devices. Leading companies such as Samsung Electronics and Apple Inc. have, for example, enable customers to use their smartwatches in an efficient way.

Retail segment to grow with the highest CAGR during 2020-30

Global Wearable Payments is bifurcated by Application into Festival & Life Events, Fitness, Healthcare, Retail, Transportation, and Others. Retail, the segment held the largest market share in the year 2020 and will continue to dominate the market in the coming years owing to the growing demand in markets, local businesses, and e-commerce for cashless payments. Many retailers worldwide are now concentrating on informing clients about contactless payment technology, which encourages the use of wearable payment equipment in the retail sector.

Market Dynamics

Drivers

Increasing Demand for HCE

Substantial growth in demand for Wearable Payments from end-use industries coupled with increased demand for Host Card Emulation (HCE) and growing acceptance of digital payment is projected to boost the growth of the market. HCE allows mobile or wearable devices, without needing access to an authenticated feature, for card imitation on NFC-activated devices.

Increasing Penetration of NFC

Wearable Payments Systems are used by many e-banking sites. These e-banking platforms are designed to incorporate NFC technology in their transactions, making seamless payments. In addition, cost savings for the implementation of NFC technology improve technological demand. This technology is commonly employed in companies to move data from computers to various contactless payment terminals such as NFC tags and smartphones.

Restraint

High Cost of Wearable Payment Devices

The high cost associated with wearable devices limits the market growth to high extent. These devices are costly and are not accessible by all. Moreover, risk of getting stolen also restrains the market growth in the near future.

Global Wearable Payments Market: Key Players

Alibaba Group

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis

Apple Inc.

Fitbit Inc.

Jawbone

PayPal Inc.

Visa Inc.

Barclays Plc.

Google Inc.

Samsung Electronics Co. Ltd.

Mastercard

Other Prominent Players

Global Wearable Payments Market: Regions

Global Wearable Payments Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Global Wearable Payments in North America held the largest market share in the year 2020. The dominant region of the industry is North America, representing over XX% of overall sales by 2030. The presence of prominent stakeholders such as Apple, Inc., Google LLC, MasterCard, and VISA, Inc. in the region can be attributed to this high growth rate. The geographic development over the projected timeframe is also estimated to bolster trends, such as growing technological dependency to track and wearable devices by serious athletes. In addition, the development of smart devices with tracking and payment characteristics has increased significantly in North America.

Global Wearable Payments Market is further segmented by region into:

North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada

Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America

Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe

Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC

Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA

Global Wearable Payments Market report also contains analysis on:

Wearable Payments Market Segments:

By Technology Type

Barcode

Contactless Point of Sale (POS)

Near-field Communication Technology (NFC)

Radio Frequency Identification (RFID)

By Device Type

Smart Rings

Fitness Tracker

Smart Watches

Others

By Application

Festival & Life Events

Fitness

Healthcare

Retail

Transportation

Others

Wearable Payments Market Dynamics

Wearable Payments Market Size

Supply & Demand

Current Trends/Issues/Challenges

Competition & Companies Involved in the Market

Value Chain of the Market

Market Drivers and Restraints

Wearable Payments Market Report Scope and Segmentation

Frequently Asked Questions

How big is the Wearable Payments market

What is the Wearable Payments market growth

Which segment accounted for the largest Wearable Payments market share

Who are the key players in the Wearable Payments market

What are the factors driving the Wearable Payments market

Contents

1. Executive Summary

2. Global Wearable Payments Market

1. Product Overview

2. Market Definition

3. Segmentation

4. Assumptions and Acronyms

3. Research Methodology

1. Research Objectives

2. Primary Research

3. Secondary Research

4. Forecast Model

5. Market Size Estimation

4. Average Pricing Analysis

5. Macro-Economic Indicators

6. Market Dynamics

1. Growth Drivers

2. Restraints

3. Opportunity

4. Trends

7. Correlation & Regression Analysis

1. Correlation Matrix

2. Regression Matrix

8. Recent Development, Policies & Regulatory Landscape

9. Risk Analysis

1. Demand Risk Analysis

2. Supply Risk Analysis

10. Global Wearable Payments Market Analysis

1. Porters Five Forces

1. Threat of New Entrants

2. Bargaining Power of Suppliers

3. Threat of Substitutes

4. Rivalry

2. PEST Analysis

1. Political

2. Economic

3. Social

4. Technological

11. Global Wearable Payments Market

1. Market Size & forecast, 2020A-2030F

1. By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

2. By Volume (Billion Units) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12. Global Wearable Payments Market: Market Segmentation

1. By Regions

1. North America:(U.S. and Canada), By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

2. Latin America: (Brazil, Mexico, Argentina, Rest of Latin America), By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

3. Europe: (Germany, UK, France, Italy, Spain, BENELUX, NORDIC, Hungary, Poland, Turkey, Russia, Rest of Europe), By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

4. Asia-Pacific: (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia Pacific), By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

5. Middle East and Africa: (Israel, GCC, North Africa, South Africa, Rest of Middle East and Africa), By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

2. By Technology Type: Market Share (2020-2030F):

1. Barcode, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

2. Contactless Point of Sale (POS), By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

3. Near-field Communication Technology (NFC), By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

4. Radio Frequency Identification (RFID), By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

3. By Device Type: Market Share (2020-2030F)

1. Smart Rings, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

2. Fitness Tracker, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

3. Smart Watches, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

4. Others, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

4. By Application: Market Share (2020-2030F)

1. Festival & Life Events, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

2. Fitness, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

3. Healthcare, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030

4. Retail, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

5. Transportation, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030

6. Others, By Value (USD Billion) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

Company Profile

1. Alibaba Group

1. Company Overview

2. Company Total Revenue (Financials)

3. Market Potential

4. Global Presence

5. Key Performance Indicators

6. SWOT Analysis

7. Product Launch

2. Apple Inc.

3. Fitbit Inc.

4. Jawbone

5. PayPal Inc.

6. Visa Inc.

7. Barclays Plc.

8. Google Inc.

9. Samsung Electronics Co. Ltd.

10. MasterCard

11. Other Prominent Players

Consultant Recommendation

**The above-given segmentations and companies could be subjected to further modification based on in-depth feasibility studies conducted for the final deliverable.

Methodology/Research Approach

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Research Programs/Design

Historical Data (2015-2019)	Industry Trends Competitive Landscape By Company Expansion Mergers and Acquisitions Market Segment by Type by Application By Regions/ Geography	Value Status and Outlook Value for Major Players Market Share Growth Rate Present Situation Analysis Value Market Share Growth Rate Present Situation Analysis
Influencing Factors	Market Environment Government Policy Technological Changes Market Risks	Market Drivers Growing Demand of Downstream Reduction in Cost
Market Forecast (2021-2026)	Overall Size by Type by Application By Regions/Geography	Key Data (Value) Market Share Growth Rate CAGR (2021-2026)

Market Size Estimation

Top-down and bottom-up approaches are used to validate the global Voluntary Carbon Offset market size market and estimate the market size for Company, regions segments, product segments and Application (end users).

The market estimations in this report are based on the marketed sale price of Voluntary Carbon Offset (excluding any discounts provided by the player, distributor, wholesaler or traders). The percentage splits, market share, and breakdowns of the product segments are derived on the basis of weights assigned to each of the segments on the basis of their utilization rate and average sale price. The regional splits of the overall Voluntary Carbon Offset market and its sub-segments are based on the percentage adoption or utilization of the given product in the respective region or country.

Major Company in the market is identified through secondary research and their market revenues determined through primary and secondary research. Secondary research included the research of the annual and financial reports of the top Company; whereas, primary research included extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, directors, CEOs and marketing executives. The percentage splits, market share, Growth Rate and breakdowns of the product markets are determined through using secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or other factors are not accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Market Intellix and presented in this report

The following figure shows an illustrative representation of the overall market size estimation process used for this study.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation, extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report. Extensive qualitative and further quantitative analysis is also done from all the numbers arrived at in the complete market engineering process to list key information throughout the report.

Data Source

Secondary Sources

Secondary sources include such as press releases, annual reports, non-profit organizations, industry associations, governmental agencies and customs data, etc. This research study involves the usage of widespread secondary sources, directories, databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), and TRADING ECONOMICS, and News Network, statista, Federal Reserve Economic Data, annual reports, BIS Statistics, ICIS; company house documents; CAS(American Chemical Society); investor presentations; and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and Hospitals study of the Voluntary Carbon Offset market. It was also used to obtain important information about the top companies, market classification and segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives.

Market Size	Segmental value Geographic Penetration Product Adoption Rate for Different market	Journals, Websites, and Press Releases Annual Reports and SEC Filings Company Websites and Press Releases Public and Paid Databases Market Intellix Data Repository
Market Position of Top Company	Product Financials Geographic value Mix Total Company value Business/Segmental value Mix
Qualitative Analysis	Influence Factors Market Potential Market Risks and Opportunities Industry Trends Geographical Features Government Policies	Company Websites and Press Releases Public and Paid Databases Annual Reports Industry Associations Market Intellix Data Repository

Primary Sources

In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product Company (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end use (product buyers), and related key executives from various key companies and organizations operating in the global market.

Primary research was conducted to identify segmentation Type, product price range, product Application, key Company, raw materials supply and the downstream demand, industry status and outlook, and key market dynamics such as risks, influence factors, opportunities, market barriers, industry trends, and key player strategies.

Key Executives Interviewed

Key Data Information from Primary Sources

Primary Sources	Parameters	Key Data
Market Segments(by Application, by Type)	Value by Type Status and Forecast Value by Application Value by Regions, Status and Forecast (2021-2026)	Value Market Share by Type Value Growth Rate by Type Value by Application Percentage and Growth Rate by Application Value Growth Rate and Market Share by Regions Market Size Status and Forecast (2021-2026)
Total Market	Overall Size, Status and Forecast	Market Size Status and Forecast (2021-2026)