Global NFC Payment Devices Market is valued approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. NFC Payment Devices refers to contactless payment systems which utilizes near-field communication technology to exchange data between readers and payment devices. NFC enabled devices require a distance of 4cm or less to initiate a connection. The increasing demand for wearable devices and growing adoption of contactless payment solutions as well as rising internet penetration worldwide are key factors accelerating the market growth.
According to Statista - during 2019, the total number of connected wearable devices worldwide was estimated at 722 million, and the number is projected to grow to more than 1000 million by end of 2022. In addition, as per Statista - during 2021, the global end-user spending on wearable device was estimated at USD 81.5 billion, and this amount is projected to grow to USD 90 billion by end of 2022. Also, growing emergence of digital payment gateways and favorable government initiatives from government authorities would create lucrative opportunities for the market over the forecast period. However, rising concern over cyber security stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global NFC Payment Devices Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading region owing to presence of key market players and increasing adoption of connected devices in the region. Whereas Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as rising internet penetration and favorable government initiatives as well as growing digitization in the region.
Major market players included in this report are:
Huawei Technologies Co., Ltd.
Jakcom Technology Co. Inc.
Samsung Electronics Co. Ltd.
Recent Developments in the Market:
- In March 2021, Axis Bank launched three NFC (near-field communication)-enabled wearable devices in India. The bank has launched a wristband, keychain, and loop. These products can be bought via Phone Banking and through any Axis Bank branch.
- In September 2021, Xiaomi announced launching of NFC Mi Pay straps in India. This new strap would work via Xiaomi's own digital payment service, Mi Pay.
Global NFC Payment Devices Market Report Scope:
Historical Data: 2019-2020-2021
Base Year for Estimation: 2021
Forecast period: 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Device Type, Application, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Device Type
Bars & Restaurants
Rest of the World
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
- 1.2.1. NFC Payment Devices Market, by Region, 2019-2029 (USD Billion)
- 1.2.2. NFC Payment Devices Market, by Device Type, 2019-2029 (USD Billion)
- 1.2.3. NFC Payment Devices Market, by Application, 2019-2029 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global NFC Payment Devices Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Scope of the Study
- 2.2.2. Industry Evolution
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global NFC Payment Devices Market Dynamics
- 3.1. NFC Payment Devices Market Impact Analysis (2019-2029)
- 3.1.1. Market Drivers
- 22.214.171.124. Increasing demand for wearable devices.
- 126.96.36.199. Growing adoption of contactless payment solutions.
- 188.8.131.52. Rising internet penetration worldwide.
- 3.1.2. Market Challenges
- 184.108.40.206. Rising concern over cyber securities.
- 3.1.3. Market Opportunities
- 220.127.116.11. Growing emergence of digital payment gateways.
- 18.104.22.168. Favourable government initiatives from government authorities.
Chapter 4. Global NFC Payment Devices Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Futuristic Approach to Porter's 5 Force Model (2019-2029)
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.4. Investment Adoption Model
- 4.5. Analyst Recommendation & Conclusion
- 4.6. Top investment opportunity
- 4.7. Top winning strategies
Chapter 5. Risk Assessment: COVID-19 Impact
- 5.1. Assessment of the overall impact of COVID-19 on the industry
- 5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global NFC Payment Devices Market, by Device Type
- 6.1. Market Snapshot
- 6.2. Global NFC Payment Devices Market by Device Type, Performance - Potential Analysis
- 6.3. Global NFC Payment Devices Market Estimates & Forecasts by Device Type 2019-2029 (USD Billion)
- 6.4. NFC Payment Devices Market, Sub Segment Analysis
- 6.4.1. Smart Watches
- 6.4.2. Fitness Trackers
- 6.4.3. Payment Wristbands
- 6.4.4. Smart Rings
- 6.4.5. Others
Chapter 7. Global NFC Payment Devices Market, by Application
- 7.1. Market Snapshot
- 7.2. Global NFC Payment Devices Market by Application, Performance - Potential Analysis
- 7.3. Global NFC Payment Devices Market Estimates & Forecasts by Application 2019-2029 (USD Billion)
- 7.4. NFC Payment Devices Market, Sub Segment Analysis
- 7.4.1. Grocery Stores
- 7.4.2. Bars & Restaurants
- 7.4.3. Drug Stores
- 7.4.4. Entertainment Centers
- 7.4.5. Others
Chapter 8. Global NFC Payment Devices Market, Regional Analysis
- 8.1. NFC Payment Devices Market, Regional Market Snapshot
- 8.2. North America NFC Payment Devices Market
- 8.2.1. U.S. NFC Payment Devices Market
- 22.214.171.124. Device Type breakdown estimates & forecasts, 2019-2029
- 126.96.36.199. Application breakdown estimates & forecasts, 2019-2029
- 8.2.2. Canada NFC Payment Devices Market
- 8.3. Europe NFC Payment Devices Market Snapshot
- 8.3.1. U.K. NFC Payment Devices Market
- 8.3.2. Germany NFC Payment Devices Market
- 8.3.3. France NFC Payment Devices Market
- 8.3.4. Spain NFC Payment Devices Market
- 8.3.5. Italy NFC Payment Devices Market
- 8.3.6. Rest of Europe NFC Payment Devices Market
- 8.4. Asia-Pacific NFC Payment Devices Market Snapshot
- 8.4.1. China NFC Payment Devices Market
- 8.4.2. India NFC Payment Devices Market
- 8.4.3. Japan NFC Payment Devices Market
- 8.4.4. Australia NFC Payment Devices Market
- 8.4.5. South Korea NFC Payment Devices Market
- 8.4.6. Rest of Asia Pacific NFC Payment Devices Market
- 8.5. Latin America NFC Payment Devices Market Snapshot
- 8.5.1. Brazil NFC Payment Devices Market
- 8.5.2. Mexico NFC Payment Devices Market
- 8.6. Rest of The World NFC Payment Devices Market
Chapter 9. Competitive Intelligence
- 9.1. Top Market Strategies
- 9.2. Company Profiles
- 9.2.1. Apple Inc.
- 188.8.131.52. Key Information
- 184.108.40.206. Overview
- 220.127.116.11. Financial (Subject to Data Availability)
- 18.104.22.168. Product Summary
- 22.214.171.124. Recent Developments
- 9.2.2. Fitbit, Inc.
- 9.2.3. Gramin Ltd
- 9.2.4. Huawei Technologies Co., Ltd.
- 9.2.5. Jakcom Technology Co. Inc.
- 9.2.6. McLear Ltd.
- 9.2.7. Nymi, Inc.
- 9.2.8. Samsung Electronics Co. Ltd.
- 9.2.9. Sony Corporation
- 9.2.10. Xiaomi Corporation
Chapter 10. Research Process
- 10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
- 10.2. Research Attributes
- 10.3. Research Assumption