NFC Payment Devices Market Size to Reach $67.71 Billion by 2028 | Key Growth Facts and Forecast Predictions

PORTLAND, OREGON, UNITED STATES, January 11, 2022 /EINPresswire.com/ -- The adoption of NFC payment devices has increased over the years to boost the security of financial transaction during payment process. Increase in use of advanced technology in banks and financial institutions, rise in use of various e-platforms among people, and increase in integration of contactless payment technologies in mobile payment app are some of the important factors, which boost the adoption of NFC payment technology across the globe.

Allied Market Research published latest report, titled, “NFC Payment Devices Market by Device Type (Smart Watches, Fitness Trackers, Payment Wristbands, Smart Rings and Others) and Application (Grocery Stores, Bars & Restaurants, Drug Stores, Entertainment Centers and Others): Global Opportunity Analysis and Industry Forecast, 2021–2028.” According to a report, the global NFC payment devices market size was valued at $16.35 billion in 2020, and is projected to reach $67.71 billion by 2028, growing at a CAGR of 19.5% from 2020 to 2028.

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The NFC payment devices market study provides a detailed analysis pertaining to the global market size & forecast, segmental splits, regional & country-level outlook, market dynamics & trends, Porters’ five force analysis, value chain analysis, competitive landscape, market share analysis, and patent analysis.

Segmental Outlook

The global NFC payment devices market share is segmented depending on product type, application, end user, key players and region.

Segmental analysis is offered (real time and forecast) in both quantitative and qualitative terms. This helps the clients to identify the most lucrative segment to consider for their further investments, based on the comprehensive backend analysis about the segmental performance, in addition to brief understanding of the operating companies and their development activities with respect to the NFC payment devices market.

COVID-19 Impact Analysis

The rapid spread of the coronavirus has had an enormous impact on the lives of people and the overall community. The report provides a brief overview of evolution of the coronavirus. In addition, it includes a micro- and macro-economic impact analysis. The report further showcases the market size and share depending on the impact of the COVID-19. Furthermore, reduction in the count of COVID-affected patients in the coming days with safety majors taken by governments and availability of vaccines are expected to gradually lower the impact of COVID-19 on the global NFC payment devices market. Additionally, the report highlights the key strategies adopted by players during the global health crisis. Hence, the report provides an overview of pre- as well as post-COVID-19 impact analyses.

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Market Opportunities

NFC payment devices market players is witnessing remunerative opportunities for expansion in the near future.

Regional Outlook

The NFC payment devices market trends is analyzed across four key regions, which include North America, Europe, Asia-Pacific, and LAMEA. The key countries contributing toward the growth of the market include:

• North America: U.S., Canada, and Mexico
• Europe: Germany, UK, Italy, Spain, France, and rest of Europe
• Asia-Pacific: India, China, South Korea, Japan, Australia, and rest of Asia-Pacific
• LAMEA: Brazil, Saudi Arabia, South Africa, and rest of LAMEA

Competitive Scenario

The major players profiled in the NFC payment devices market report include, Apple, Inc. Fitbit, Inc., Gramin Ltd, Huawei Technologies Co., Ltd., Jakcom Technology Co. Inc. McLear Ltd., Nymi, Inc., Samsung Electronics, Sony Corporation, and Xiaomi Corporation.

The report profiles the top players operating across the globe along with market share analysis, and an outlook on top player positioning. In addition, the study focuses on the developmental strategies such as product launch, mergers & acquisitions, and collaborations adopted by the key players to maintain a competitive edge in the market space.

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Report Coverage

• Historic Data considered: 2016 to 2021
• Growth Projections: 2022 to 2027
• Major Segments Covering product type, provider, application, end-user
• Market Dynamics and NFC payment devices market Trends
• Competitive Landscape Reporting

Research Methodology

AMR offers its clients with comprehensive research and analysis based on a wide variety of factual inputs that majorly include interviews with professionals in the industry, regional intelligence, and reliable statistics obtained from multiple resources. The in-house industry experts play an important role in designing analytic tools and models, tailored to the requirements of the client for a particular industry segment. These analytical tools and models distill the statistics & data and enhance the accuracy of our recommendations and advice.

Key Market Segments

By Device Type

• Smart Watches
• Fitness Trackers
• Payment Wristbands
• Smart Rings
• Others

By Application

• Grocery Stores
• Bars & Restaurants
• Drug Stores
• Entertainment Centers
• Others 

By Region

• North America

o U.S.
o Canada
• Europe
o UK
o Germany
o France
o Spain
o Russia
o Netherlands
o Rest of Europe
• Asia-Pacific
o China
o India
o Japan
o Australia
o Singapore
o Rest of Asia-Pacific
• LAMEA
o Latin America
o Middle East
o Africa

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of Market Research Reports and Business Intelligence Solutions. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

David Correa
Allied Analytics LLP
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