Wearable Payment Device Market is predicted to reach USD 170.67 Billion at a CAGR of 19.01% during the forecast period

Market Research Future (MRFR) has published a half-cooked research report on the "Global Wearable Payment Device Market"

MRFR recognizes the following companies as the key players in the global Wearable Payment Device market— Apple Inc, Barclays, Fitbit Inc, Google Inc, Jawbone, Mastercard, PayPal Inc, Samsung Electronics Co. Ltd, Visa Inc

Wearable Payment Device Market Highlights

The global Wearable Payment Device market is accounted to register a CAGR of 19.01% during the forecast period and is estimated to reach USD 170.67 Billion by 2032.

The wearable payment device market refers to the industry focused on developing and selling wearable devices that enable contactless payments. These devices, such as smartwatches, fitness trackers, and payment-enabled jewelry, allow users to make secure transactions by simply tapping or waving their device near a payment terminal.

Segment Analysis

The global Wearable Payment Device market has been segmented based on Type, Technology, Application.

 Based on Type, the market is segmented into Smartwatches, Fitness Tracker, and Payment Wristbands. The Smartwatches segment holds the majority share in 2022, contributing to the Wearable Payment Device revenue. The touchscreens and numerous application interfaces included in today's smartwatches enable users to make payments through NFC or Wi-Fi, negating the need to utilize a smartphone or debit or credit cards.

Based on Technology, the global Wearable Payment Device market has been segmented into Barcodes, Contactless Point of Sale (POS) Terminals, Near Fields Communication (NFC), Quick Response (QR) Codes, and Radio Frequency Identification (RFID). The market was controlled by the Radio Frequency Identification (RFID) sector. To communicate between a tiny chip in the wearable gadget and a payment terminal, RFID uses radio waves.

Based on Application, the global Wearable Payment Device market has been segmented into Fitness, Healthcare, Retail, Transportation, Bar & Restaurants, Entertainment Centers, and Others. The market was controlled by the fitness industry. due to the popularity of wearable payment-capable smartwatches and fitness trackers.

Regional Analysis

The global Wearable Payment Device market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Wearable Payment Device market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Wearable Payment Device market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Wearable Payment Device market comprises of Middle East, Africa, and Latin America.

The North America Wearable Payment Device Market dominated this market in 2022. due to the widespread use of technology and the rise in popularity of contactless payment methods. Major players from the payment and wearable technology sectors are present in North America, which has helped the industry expand there.

In terms of revenue, the UK dominated the wearable payment device market in Europe in 2021, and it is anticipated that it will continue to do so throughout the projected period. 

Due to new product advancements, a considerable increase in investment by top businesses and governmental organisations, and other factors, China is predicted to become a prominent market for wearable payment devices in the Asia-Pacific region.

Furthermore, the Latin American region is anticipated to expand at a notable CAGR from 2022 to 2031 as a result of advancements in industry 4.0, artificial intelligence, and smart technology in recent years. This is anticipated to have an impact on the region's adoption of wearable payment devices.

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Wearable Payment Device Market Research Report

Key Findings of the Study

• The global Wearable Payment Device market is expected to reach USD 170.67 Billion by 2032, at a CAGR of 19.01% during the forecast period.


• The North America Wearable Payment Device Market dominated this market in 2022. due to the widespread use of technology and the rise in popularity of contactless payment methods.


• Based on Application, The Fitness segment dominated the market in 2022.


• Apple Inc, Barclays, Fitbit Inc, Google Inc, Jawbone, Mastercard, PayPal Inc, Samsung Electronics Co. Ltd, Visa Inc