NFC payments devices use near-field communication (NFC) technology to exchange data between payment device and readers. NFC payment devices provides high security features for transferring payment from one account to another, which increases the demand for NFC payments devices among its users. Furthermore, NFC payment devices delivers numerous benefits to customers, which include convenient payment processing with the use of wallet or credit card, delivering real-time updates on rewards points, and increasing security to user's financial details.
Increase in shift from traditional payment system to digital system across the developing nations and increasing trend of mobile commerce across the globe boost the growth of the global NFC payment devices market. In addition, surge in penetration of contactless payment system at various retail stores, petrol pump stations, and restaurants positively impacts the growth of the market. However, factor such as 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 is expected to offer remunerative opportunities for the expansion of the market during the forecast period.
The global NFC payment devices market is segmented into device type, application, and region. In terms of device type, the market is divided into smart watches, fitness trackers, payment wristbands, smart rings and others. Depending on application, it is fragmented into grocery stores, bars & restaurants, drug stores, entertainment centers and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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.
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the global NFC payment devices market forecast along with the current trends and future estimations to explain the imminent investment pockets.
- Information about key drivers, restraints, & opportunities and their impact analysis on the global market is provided in the report.
- Porter's five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
- The quantitative analysis of the market from 2020 to 2027 is provided to determine the market potential.

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
KEY MARKET PLAYERS
- Apple, Inc.
- Fitbit, Inc.
- Gramin Ltd
- Huawei Technologies Co., Ltd.
- Jakcom Technology Co. Inc.
- McLear Ltd.
- Nymi, Inc.
- Samsung Electronics Co. Ltd.
- Sony Corporation
- Xiaomi Corporation