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NFC Payment Devices Market Will Hit Big Revenues In Future | Apple, Inc. Fitbit, Inc., Gramin Ltd, Huawei Technologies Co., Ltd.

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NFC Payment Devices Market Will Hit Big Revenues In Future | Apple, Inc. Fitbit, Inc., Gramin Ltd, Huawei Technologies Co., Ltd.

July 05
16:38 2021
NFC Payment Devices Market Will Hit Big Revenues In Future | Apple, Inc. Fitbit, Inc., Gramin Ltd, Huawei Technologies Co., Ltd.

NFC Payment Devices Market
“NFC Payment Devices Market by Device Type and Application: Global Opportunity Analysis and Industry Forecast, 2021–2028,” 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.

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  , Covid 19 Outbreak Impact research report added by Report Ocean, is an in-depth analysis of market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider NFC Payment Devices  market, and compares it with other markets., market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, NFC Payment Devices  market size forecast, market data & Graphs and Statistics, Tables, Bar &Pie Charts, and many more for business intelligence. Get complete Report (Including Full TOC, 100+ Tables & Figures, and Chart). – In-depth Analysis Pre & Post COVID-19 Market Outbreak Impact Analysis

 Download Free Sample Copy of ‘NFC Payment Devices  market’ Report @

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 “NFC Payment Devices Market by Device Type and Application: Global Opportunity Analysis and Industry Forecast, 2021–2028,” 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.

Increase in adoption of smart wearables and rise in penetration of digital payments have led to the growth of the NFC payments market in recent years. NFC payment devices comprise several devices smart watches, fitness trackers, payment wristbands, smart rings and others. Unlike mobile payments that are done through the internet, NFC payments are carried out in close physical proximity preventing unauthorized access during the transactions.

The key factor driving the NFC payment devices market trends include surge in penetration of contactless payment system at various retail stores, petrol pump stations, and restaurants positively impacts the growth of the market. In addition, increase in shift from traditional payment system to digital system across the developing nations and rise in trend of mobile commerce across the globe boost global NFC payment devices market growth. These transactions are considered highly authenticated and extremely protected as NFC chips interchange cryptographic data to render the transfer complete. However, battery drain issues and high risk of stolen or lost wearables is expected to hamper the market growth. On the contrary, rise in demand for mobile and wearable payments devices among the developing nations, such as China, Japan, and India, is expected to offer remunerative opportunities for the expansion of the market during the forecast period.

The grocery stores segment is expected to garner a significant NFC payment devices market share during the forecast period. This is attributed to rise in demand for contactless payment service in the retail industry and increase in investment by the retail owners for adopting digital payment technology. However, the others segment contributes the largest revenue share in 2020, owing to increase in adoption of mobile payment devices among various industries for reducing cash counting time and different types of errors.   

Region-wise, the NFC payment devices market was dominated by North America in 2020, and is expected to retain its position during the forecast period. This is attributed to increase in demand among merchants across the U.S. and Canada to use contactless payment technology. However, Asia-Pacific is expected to witness significant growth rate during the forecast period, owing to penetration of high-speed internet connectivity across developing nations such as China and India.

The outbreak of COVID-19 is anticipated to have a positive impact on the growth of the NFC payment devices market. This is attributed to increase in government initiatives to use mobile payment technology for breaking COVID-19 chain due to restrictions of cash payment process. In addition, with the rise of COVID-19 patients across the world, many businesses and individuals are adopting contactless payment technology, which boosts the growth of the market in the pandemic situation. Furthermore, several governments across developing nations are investing heavily in digital payment technology for preventing people from getting coronavirus by creating awareness among the people about online payment systems, which drives the growth of the market.

 

Key Findings Of The Study

By device type, the smart watches segment accounted for the largest market share in 2020.

Region-wise, North America generated the highest revenue in 2020.

Depending on application, the grocery stores segment generated the highest revenue in 2020.

The key players profiled in the NFC payment devices market analysis are 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. These players have adopted various strategies to increase their market penetration and strengthen their position in the NFC payment devices industry.

Key Segments Studied in the Global NFC Payment Devices  Market: Report Coverage

Professional Key players:  The key players profiled in the NFC payment devices market analysis are Apple, Inc. Fitbit, Inc., Gramin Ltd, Huawei Technologies Co., Ltd., Jakcom Technology Co. Inc., McLear Ltd., Nymi, Inc., Samsung Electronics Co. Ltd., Sony Corporation, and Xiaomi Corporation. These players have adopted various strategies to increase their market penetration and strengthen their position in the NFC payment devices industry.

 

 

Market Segmentation:

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

Regional Scope:  

North America, Europe, Asia Pacific, Oceania, South America, Middle East & Africa, United States, Canada, Mexico, Brazil, Argentina, Colombia, Chile, South Africa, Nigeria, Tunisia, Morocco, Germany, United Kingdom (UK), the Netherlands, Spain, Italy, Belgium, Austria, Turkey, Russia, France, Poland, Israel, United Arab Emirates, Qatar, Saudi Arabia, China, Japan, Taiwan, South Korea, Singapore, India, Australia and New Zealand etc.

 

Forecast Period 2020 to 2028 CAGR:    XX

Pages: 100+

Tables, Charts & Figures: 100+

Growth Drivers Pitfalls & Challenges

 

COVID-19 – Next Thoughts: In this piece, we have shared key data and numbers that shine a spotlight on the current scale of the crisis and the economic fallout.

A combination of factors, including COVID-19 containment situation, end-use market recovery & Recovery Timeline of 2020/ 2021

covid-19 scenario

Market Behavior/ Level of Risk and Opportunity

End Industry Behavior/ Opportunity Assessment

Expected Industry Recovery Timeline

Business Impact Horizon

Opening of Economy by Q3 2020

xx

xx

xx

xx

Recovery – Opening of Economy extended till Q4 2020 / Q1 2021

xx

xx

xx

xx

 

Under COVID-19 Outbreak Impact Analysis:
We analyzed industry trends in the context of COVID-19. We analyzed the impact of COVID-19 on the product industry chain based on the upstream and downstream markets. We analyze the impact of COVID-19 on various regions and major countries.
The impact of COVID-19 on the future development of the industry is pointed out.

Study Explore :

  • Market Behavior/ Level of Risk and Opportunity
  • End Industry Behavior/ Opportunity Assessment
  • Expected Industry Recovery Timeline

For more information or any query mail at [email protected]

In-Depth Qualitative COVID 19 Outbreak Impact Analysis Include Identification And Investigation Of The Following Aspects:

Informational Takeaways from the Market Study: The report includesthe completely examined and evaluated data of the noticeable companies and their situation in the market considering impact of Coronavirus. The measured tools including SWOT analysis, Porter’s five powers analysis, and assumption return debt were utilized while separating the improvement of the key players performing in the market.

Key Development’s in the Market: This report fuses the major developments of the market that contains confirmations, composed endeavors, R&D, new thing dispatch, joint endeavours, and relationship of driving members working in the market.

 

 (Check Our Exclusive Offer: 30% to 40% Discount) Lowest Price Guarantee

https://reportocean.com/industry-verticals/sample-request?report_id=AMR1837

The study objectives of this report are:

Important Features that are under offering & key highlights of the report:
– Detailed overview of market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application etc
– Historical, current and projected market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth
– A neutral perspective towards market performance
– Market players information to sustain and enhance their footprint

The Study Explore COVID 19 Outbreak Impact Analysis

 

  • What should be entry strategies, countermeasures to economic impact, and marketing channels?
  • What are market dynamics?
  • What are challenges and opportunities?
  • What is economic impact on market?
  • What is current market status? What’s market competition in this industry, both company, and country wise? What’s market analysis by taking applications and types in consideration?

Ask Our Expert for Complete Report@:

https://reportocean.com/industry-verticals/sample-request?report_id=AMR1837

Key Points Covered in NFC Payment Devices  Market Report:

Chapter 1, About Executive Summary to describe Definition, Specifications and Classification of NFC Payment Devices  market, Applications, Market Segment by Regions North America, Europe or Asia;
Chapter 2, objective of the study.
Chapter 3, to display Research methodology and techniques.
Chapter 4 and 5, to show the Overall Market Analysis, segmentation analysis, characteristics;
Chapter 6 and 7, to show the Market size, share and forecast; Five forces analysis (bargaining Power of buyers/suppliers), Threats to new entrants and market condition;
Chapter 8 and 9, to show analysis by regional segmentation, comparison, leading countries and opportunities; Regional Marketing Type Analysis, Supply Chain Analysis
Chapter 10, focus on identifying the key industry influencer’s, overview of decision framework accumulated through Industry experts and strategic decision makers;
Chapter 11 and 12, Market Trend Analysis, Drivers, Challenges by consumer behavior, Marketing Channels and demand & supply.
Chapter 13 and 14, describe about the vendor landscape (classification and Market Positioning)
Chapter 15, deals with NFC Payment Devices   Market sales channel, distributors, traders, dealers, Research Findings and Conclusion, appendix and data source.

……..and view more in complete table of Contents

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