Wearable Payments Devices Market Report (2019-2025) | The demand for the Market will drastically increase in the Future…
A detailed research study on the Wearable Payments Devices Market was recently published by DataIntelo. This is a latest report, covering the current COVID-19 impact on the market. The pandemic of Coronavirus (COVID-19) has affected every aspect of life globally. This has brought along several changes in market conditions. The rapidly changing market scenario and initial and future assessment of the impact is covered in the report. The report puts together a concise analysis of the growth factors influencing the current business scenario across various regions. Significant information pertaining to the industry analysis size, share, application, and statistics are summed in the report in order to present an ensemble prediction. Additionally, this report encompasses an accurate competitive analysis of major market players and their strategies during the projection timeline.
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The Wearable Payments Devices Market was valued at USD 3.2 Billion in 2018, and is expected to grow at CAGR of 15.2% from 2020-2026. Key factors influencing the growth rate include rising adoption of cashless transactions, demand for contactless payments, reducing costs of Near Field Communication (NFC) technology deployment and rise in demand of host card emulation (HCE).
Wearables are mobile phones or gadgets that are worn by users to directly or indirectly interact with the device. Majorly used devices are wristbands, smart watches and fitness or health trackers. In terms of functionality, there are many wearables in the commercial market and with low entry barriers, high proliferation of simple gadgets are highly evident. For instance, the estimation for shipment for Apple watches in 2018 that was expected to cross around 480 million annually. However, the development and adoption scenarios might be contrasting, the market continues to demonstrate a continuous growth.
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