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.
Technavio’s analysts forecast the global wearable payment market to grow at a CAGR of 59.44% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global wearable payment market for 2016-2020. To calculate the market size, the report provides a detailed forecast of the market transaction revenue and shipment of wearable payment devices.
The market is divided into the following segments based on geography:
- Americas - APAC - EMEA
Technavio's report, Global Wearable Payment Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The 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.
- Apple - Jawbone - Google - MasterCard - Samsung Electronics - Visa
Other prominent vendors
- Alibaba Group - American Express - Barclays - Broadcom - Fitbit - Gemalto - Infineon Technologies - Inside Secure - MediaTek - Microsoft - NXP Semiconductors - Qualcomm - PayPal - Renesas Electronics - Sony - Xiaomi
- Growing adoption of contactless payments. - For a full, detailed list, view our report
- Lack of interoperability of NFC technology. - For a full, detailed list, view our report
- Rising adoption of contactless payments in APAC and Africa. - For a full, detailed list, view our report
Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be? - What are the key market trends? - What is driving this market? - What are the challenges to market growth? - Who are the key vendors in this market space? - What are the market opportunities and threats faced by the key vendors? - What are the strengths and weaknesses of the key vendors?
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Methodology Research methodology is based on extensive primary and secondary research. Primary research includes in-depth interviews with industry experts, vendors, resellers and customers. Secondary research includes Technavio Platform, industry publications, company reports, news articles, analyst reports, trade associations and the data published by Government agencies.
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