Wearable Payments Devices Market Size To Reach $148.88 Billion By 2030

Wearable Payments Devices Market Growth & Trends

The global wearable payments devices market size is expected to reach USD 148.88 billion by 2030, registering a CAGR of 17.1% from 2025 to 2030, according to a new report by Grand View Research, Inc. Over time, payment systems have adapted to suit the needs of customers, such as increased convenience and reduced time while making payments. The growing popularity of contactless payment technology, coupled with the increasing adoption of wearable devices, such as smartwatches for contactless payments, is expected to fuel the market growth over the forecast period.

Wearables are gadgets or mobile phones that are worn by users to indirectly or directly interact with the device. Majorly used devices are smartwatches, fitness or health trackers, and wristbands. In terms of functionality, there are numerous wearables that are used in the commercial market, and the low entry barriers have enabled the high proliferation of payments devices.

Digitization in banks is expected to continue gaining traction over the forecast period as banks are now focusing on connecting card management systems with the token service providers. The increasing adoption of contactless payment models in the banking sector is further expected to drive the market. Furthermore, numerous players are focusing on creating reliable and secure wearable devices for consumer use, thereby creating growth opportunities for the market.

The COVID-19 pandemic is expected to positively impact market growth over the forecast period. The increasing adoption of cashless transactions in the time of the pandemic is expected to influence the adoption of wearable payments devices over the forecast period. Wearable devices offer users a convenient form of payment to make transactions through their stored payment credentials, thus enabling issuers to build brand loyalty among their users.

 Request a free sample copy or view report summary: Wearable Payments Devices Market Report

Wearable Payments Devices Market Report Highlights

• The fitness tracker segment accounted for a leading revenue share of 41.9% in the global market in 2024. These devices have witnessed a strong growth in demand in recent years, owing to the increasing fitness-focused demographic globally and the extensive use of fitness devices.

• Based on technology, the contactless Point of Sale (POS) terminals segment is anticipated to witness the highest CAGR during the forecast period. The increasing proliferation of smartphones and wearables and awareness regarding digital transformation has led to the evolution of the transaction and payment landscape globally.

• By application, the retail segment accounted for a leading revenue share in the global market in 2024 and is expected to grow at the fastest CAGR during the forecast period, owing to the increasing pace of innovations in this sector.

• North America wearable payments devices market accounted for the leading revenue share of 29.8% in the global wearable payments devices market in 2024. Increasing awareness regarding wearable technologies and incorporation of advanced payment solutions by leading banks and financial institutions has enabled strong market growth in economies such as the U.S. and Canada.

• The Asia Pacific wearable payments devices market is anticipated to advance at the fastest growth rate from 2025 to 2030. Constant technological advancements in regional economies such as China, South Korea, and India, coupled with increasing disposable income levels, have increased wearables sales that integrate payment features.

Wearable Payments Devices Market Segmentation

Grand View Research has segmented the global wearable payments devices market on the basis of on device, technology, application, and region:

Wearable Payments Devices Device Outlook (Revenue, USD Million, 2018 - 2030)

• Fitness Tracker

• Payment Wristbands

• Smart Watches

Wearable Payments Devices Technology Outlook (Revenue, USD Million, 2018 - 2030)

• Barcodes

• Contactless Point of Sale (POS) Terminals

• Near Field Communication (NFC)

• Quick Response (QR) Codes

• Radio Frequency Identification (RFID)

Wearable Payments Devices Application Outlook (Revenue, USD Million, 2018 - 2030)

• Festival & Live Events

• Fitness

• Healthcare

• Retail

• Transportation

• Others

Wearable Payments Devices Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • U.K.

  • France

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

• Latin America

  • Brazil

• Middle East & Africa

  • Saudi Arabia

  • South Africa

  • UAE

List of Key Players in the Wearable Payments Devices Market

• Apple Inc.

• Barclays PLC

• Thales

• Google LLC

• Mastercard

• Nymi, Inc.

• PayPal Holdings, Inc.

• SAMSUNG

• Visa

• Garmin Ltd.