Outlook on the Wearable Payments Devices Global Market to 2026 - Industry Analysis and Forecasts
February 16, 2021 05:58 ET
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Research and Markets
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The global Wearable Payments Devices Market size is expected to reach $42.9 billion by 2026, rising at a market growth of 27.2% CAGR during the forecast period. The safe and secure payment method offered to the consumers for their purchase of products or services through the advanced integrated technology in their wearable devices is referred as Wearable payments.
This method provides vendors and retailers to go with a more secure and error-free payment method and hence, also known as tap-and-go payment method by many retailers and organizations. Moreover, several banks and financial institutions are offering wearable payment options for widening their customer base around the world while delivering better convenience in outdoor shopping. Additionally, the adoption of contactless payments and wearable payments has increased globally during recent years, owing to the increasing adoption of smartphones and ease in transactions compared to the traditional banking payment methods.