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The Worldwide Wearable Payment Device Industry is Expected to Reach $82 Billion by 2026 at a CAGR of 13.6% from 2021

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Dublin, April 22, 2021 (GLOBE NEWSWIRE) — The “Global Wearable Payment Device Market with COVID-19 Impact Analysis by Device Type (Smart Watches, Fitness Trackers), Technology (NFC, RFID), Sales Channel, Application (Retail/Grocery Stores, Restaurants, Entertainment Centers), and Geography – Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering.

The global wearable payment device market is projected to grow from USD 43 billion in 2021 to USD 82 billion by 2026; it is expected to grow at a CAGR of 13.6% from 2021 to 2026.

The growth of the wearable payment device market is majorly driven by surge in the adoption of contactless cards and wearable devices due to the COVID-19 situation, emerging demand for contactless payment for secure and safer payment transactions, and the growing adoption of NFC technology.

COVID-19 has emerged as a global pandemic that has spread over 215 countries worldwide and disrupted various industries around the world. The prominent players across industries have been affected by this pandemic. However, the pandemic may have positive impact on the wearable payment device market. With the going COVID-19 pandemic situation, there is a rise in the adoption of contactless payment methods due to the rise in severe health concerns. This is anticipated to increases the demand for smart watches with payment functions in the coming years.

Smart watches expected to hold the largest market share during the forecast period

Smart watches held the largest share of the wearable payment market in 2020. In the recent years, smart watches have NFC technology integrated into them to enable mobile payments. Manufacturers such as Samsung (South Korea), Apple (US), Garmin (Switzerland), and others offer advanced smart watches with payment-enabled features. Besides, in terms of shipment, smart watches accounted for the highest number of shipped units of devices integrated with mobile payment functions in 2020, globally, as compared to other device types. With the going COVID-19 pandemic situation, there is a rise in the adoption of contactless payment methods due to the rise in severe health concerns. This is anticipated to increases the demand for smart watches with payment functions in the coming years.

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Retail and grocery stores application is expected to grow at the highest CAGR during the forecast period

The wearable payment device market for the retail and grocery stores is expected to grow at the highest CAGR from 2021 to 2026. Consumers have been using contactless payment through wearable devices for billing in retail and grocery stores, as they are convenient and allow the consumers to keep a record of their transactions. Besides, with the ongoing COVID-19 pandemic, consumers are increasingly veering away from handling cash due to the fear of spreading the disease. According to a new National Retail Federation survey, 67% of retailer respondents accept some form of no-touch payment in 2020. Also, several retailers across the world are investing in contactless payment technologies to keep customers safe. Thus, the market for retail and grocery stores is expected to grow at the highest rate during the forecast period.

APAC is projected to grow at the highest CAGR during the forecast period

Wearable payment device market in APAC is expected to grow at the highest CAGR during 2021-2026. The region has the presence of prominent players of wearable devices. The manufacturers in China and India offer wearable devices at a low price, making them affordable for customers. Many international players get their wearable devices manufactured and assembled by local manufacturers based in the region and then brand their names. The region holds many highly populated countries, which account for the high adoption rate of consumer electronics. The ongoing COVID-19 pandemic has accelerated the rise of the digital economy, particularly contactless payments. This, in turn, is expected to increase the demand for wearable payment devices in APAC.

Key Topics Covered:

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1 Introduction

2 Research Methodology

3 Executive Summary
3.1 Post-COVID-19 Scenario
3.2 Optimistic Scenario (Post-COVID-19)
3.3 Pessimistic Scenario (Post-COVID-19)

4 Premium Insights
4.1 Opportunities in Wearable Payment Device Market
4.2 Wearable Payment Device Market, by Device Type
4.3 Wearable Payment Device Market in APAC, by Application and Country, 2026
4.4 Wearable Payment Device Market, by Application
4.5 Wearable Payment Device Market, by Country

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Inclination Toward Contactless Payment Methods due to Hygiene Concerns Amid COVID-19
5.2.1.2 Surging Adoption of Secure and Advanced Technology-Based Digital Payment Solutions
5.2.1.3 Increasing Focus of Wearable Technology Providers on Offering Enhanced Customer Services with Mobile Applications
5.2.1.4 Escalating Use of NFC Technology in Wearable Devices
5.2.1.5 Rising Demand for Wearable Electronic Devices, Which, in Turn, Would Propel Growth of Wearable Payment Devices
5.2.2 Restraints
5.2.2.1 Battery Drain Issues in Wearable Payment Devices
5.2.2.2 Shorter Life Cycle of Consumer Electronics
5.2.3 Opportunities
5.2.3.1 Increasing Adoption of Advanced Technologies, such as NFC, RFID, and Host Card Emulation, in Wearable Payment Devices
5.2.4 Challenges
5.2.4.1 Security Concerns Related to Wearable Payment Devices
5.3 Value Chain Analysis
5.4 Ecosystem Analysis
5.5 Porter’s Five Forces Analysis
5.6 Case Study Analysis
5.7 Technology Analysis
5.7.1 Growing Popularity of IoT and Connected Devices
5.7.2 Rising Focus on Implementing Artificial Intelligence in Wearables
5.7.3 Surging Requirement to Improve Performance of Wearable Payment Devices by Adding 5G Technology
5.8 Pricing Analysis
5.9 Trade Analysis
5.10 Patent Analysis
5.11 Tariff & Regulatory Landscape
5.11.1 Tariff Landscape
5.11.2 Regulatory Landscape

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6 Wearable Payment Device Market, by Device Type
6.1 Introduction
6.2 Smart Watches
6.2.1 Smart Watches are Most Popular Wearable Payment Devices
6.3 Fitness Trackers
6.3.1 Payment Functions are Integrated into Fitness Trackers to Innovate Devices and Enhance Customers’ Convenience
6.4 Payment Wristbands
6.4.1 Payment Wristbands are Widely Used for Closed-Loop Payments
6.5 Smart Rings
6.5.1 Smart Rings Allow Customers to Pay for Small Purchases

7 Wearable Payment Device Market, by Technology
7.1 Introduction
7.2 NFC (Near Field Communications)
7.2.1 Most of Wearable Payment Devices are Integrated with NFC Technology to Enable Payment Functions
7.3 RFID (Radio Frequency Identification)
7.3.1 Contactless Transactions Enabled by RFID Technology are Faster, Convenient, and More Secure
7.4 QR & Barcodes
7.4.1 QR & Barcode Technology Has Been Adopted in Fitness Trackers to Enable Payment Functions

8 Wearable Payment Device Market, by Sales Channel
8.1 Introduction
8.2 Direct Sales Channel
8.2.1 Major Players in Market Offer Their Wearable Payment Devices Through Their Online and Offline Stores
8.3 Indirect Sales Channel
8.3.1 Indirect Sales is Most Preferred by Wearable Device Providers, Globally

9 Wearable Payment Device Market, by Application
9.1 Introduction
9.2 Impact of COVID-19 on Applications of Wearable Payment Device Market
9.3 Retail/Grocery Stores
9.3.1 COVID-19 Pandemic Has Increased Adoption of Wearable Payment Devices in Grocery Stores
9.4 Restaurants
9.4.1 NFC-Enabled Wearable Devices to Enhance Customer Experience in Restaurants
9.5 Hospitals/Pharmacies
9.5.1 Secure, Simple, and Efficient Payment Methods Driving Growth of Wearable Payment Devices
9.6 Entertainment Centers
9.6.1 Payment Wristbands to Enhance Customer Experience Post-Pandemic
9.7 Others

10 Geographic Analysis
10.1 Introduction
10.2 North America
10.3 Europe
10.4 Asia-Pacific
10.5 RoW

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11 Competitive Landscape
11.1 Introduction
11.2 Top 5 Company Revenue Analysis
11.3 Market Share Analysis, 2020
11.4 Competitive Leadership Mapping
11.4.1 Star
11.4.2 Emerging Leaders
11.4.3 Pervasive
11.4.4 Participant
11.4.5 Wearable Payment Device Market: Product Footprint
11.5 Small and Medium Enterprises (SME) Evaluation Quadrant, 2020
11.5.1 Progressive Companies
11.5.2 Responsive Companies
11.5.3 Dynamic Companies
11.5.4 Starting Blocks
11.6 Competitive Situations and Trends
11.6.1 Wearable Payment Device Market: Product Launches, January 2018-February 2021
11.6.2 Wearable Payment Device Market: Deals, January 2018-Feb-21

12 Company Profiles
12.1 Introduction
12.2 Impact of COVID-19 on Players of Wearable Payment Device Market
12.3 Key Players
12.3.1 Apple Inc.
12.3.2 Fitbit, Inc.
12.3.3 Xiaomi Corporation
12.3.4 Samsung Electronic Co. Ltd.
12.3.5 Garmin Ltd.
12.3.6 Google LLC
12.3.7 Tappy Technologies Ltd.
12.3.8 Barclays plc
12.3.9 Visa Inc.
12.3.10 PayPal Holding Inc.
12.3.11 Mastercard
12.4 Other Key Players
12.4.1 Microsoft Corporation
12.4.2 Huawei Technologies
12.4.3 Sony Corporation
12.4.4 Thales SA
12.4.5 Westpac
12.4.6 Intelligent Venue Solutions
12.4.7 Caxia Bank
12.4.8 Intellitix
12.4.9 NYMI
12.4.10 McLEAR Ltd.
12.4.11 Jakcom Technology Co.
12.4.12 Token
12.4.13 Infineon Technologies AG
12.4.14 PrintPlast

13 Appendix
13.1 Insights of Industry Experts
13.2 Discussion Guide
13.3 Knowledge Store: The Subscription Portal
13.4 Available Customizations

For more information about this report visit https://www.researchandmarkets.com/r/4ju6zz


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Globhe and OpenForests Partner to Enhance Environmental Project Monitoring with Global Drone Data Integration

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STOCKHOLM, Oct. 1, 2024 /PRNewswire/ — Globhe, a global marketplace for on-demand drone data services, and OpenForests, the innovative force behind the explorer.land platform, are pleased to announce a strategic partnership designed to elevate environmental monitoring and project visualization. This collaboration integrates Globhe’s cutting-edge drone data marketplace into explorer.land, offering organizations a powerful tool to enhance transparency, engagement, and impact in their sustainability projects.

Transforming Environmental Monitoring with On-Demand Drone Data
explorer.land, known for its interactive and transparent project platform, now features high-resolution drone data from Globhe upon request. This integration allows users to experience a more dynamic and detailed view of their environmental projects. By visualizing ‘before and after’ scenarios through drone imagery, organizations can demonstrate the impact of their efforts, making it easier to engage stakeholders and attract support.
“The integration of Globhe’s drone data into explorer.land marks a significant advancement in how environmental projects are monitored and presented,” said Alexander Watson, CEO of OpenForests. “This partnership empowers our users to tell more compelling stories about their work, enhancing both credibility and visibility on a global scale.”
CO₂ Operate’s Gula Gula Food Forest Program
To illustrate the power of this new capability, CO₂ Operate’s Gula Gula Food Forest Program serves as a prime example. Through the integration of drone data into their explorer.land profile, CO₂ Operate has been able to effectively showcase the progress and impact of their carbon offsetting and biodiversity initiatives. This case study highlights how organizations can use this technology to improve the transparency and effectiveness of their sustainability efforts.
“Working with Globhe and OpenForests has provided us with invaluable tools to visualize and communicate the impact of our work,” said Paul Burgers, Founder of CO₂ Operate. “The drone data not only enhances our project’s visibility but also strengthens our commitment to achieving broader sustainability goals.”
Driving Innovation in Environmental Project Management
The partnership between Globhe and OpenForests is set to redefine how environmental and reforestation projects are documented and understood. By combining drone data with explorer.land’s robust visualization tools, organizations can enhance their project profiles, engage a broader audience, and drive greater environmental impact.
Andreas Nordansjö, CMO of Globhe, commented, “Our collaboration with OpenForests represents a transformative step in how environmental projects are managed and executed globally. By integrating our drone data into explorer.land, we’re offering OpenForests clients access to a vast network of professional drone operators in over 147 countries.” He continues “This marketplace approach ensures they receive the best possible price through competitive bidding and guarantees they are working with skilled local professionals who understand the unique challenges of each region”.
CONTACT:
Andreas NordansjöChief Marketing Officer, [email protected]+46(0)736334774
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/globhe/r/globhe-and-openforests-partner-to-enhance-environmental-project-monitoring-with-global-drone-data-in,c4045236
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Symphony Talent Unveils Interview Genius

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New GenAI-Powered Solution Streamlines the Interview Process to Save Recruiters Time and Reduce Bias
NEW YORK, Oct. 1, 2024 /PRNewswire/ — Symphony Talent, a global leader in talent acquisition solutions, announces the launch of Interview Genius, a groundbreaking feature within its SFX On-Demand Interview (ODI) platform. This AI-powered tool will transform how organizations conduct interviews by automating the creation of structured, fair, and science-backed interview questions tailored to each role.

Interview Genius empowers recruiters by leveraging advanced artificial intelligence and a research-backed Large Language Model (LLM) developed by Industrial-Organizational (I/O) Psychologists and Data Scientists. By inputting details such as job description, industry, and desired competencies, Interview Genius generates relevant and consistent questions so recruiters can save time while ensuring every candidate is evaluated without bias.
“The power of AI to transform talent acquisition cannot be overstated,” added Kermit Randa, CEO of Symphony Talent. “With Interview Genius, we’re offering our clients an intelligent, science-backed solution that streamlines the hiring process while maintaining the highest standards of fairness and objectivity. This is how technology can elevate the human element in recruiting, and we’re thrilled to be adding it to our suite of full-funnel SFX solutions.”
Designed specifically for recruiters, Interview Genius delivers:
Time-Savings: Reduce manual work with AI-generated interview questions based on role specifics so recruiters can focus more on building relationships.Fairness and Consistency: Ensure that all candidates are asked the same questions, promoting an equitable and unbiased hiring process.Streamlined Processes: Optimize workflows and ensure data consistency across systems by integrating with Symphony Talent’s SFX CRM.”Interview Genius represents the future of structured interviewing,” said Perry Steinberg, Chief Product Officer at Symphony Talent. “Our goal was to develop a feature that not only saves time but also ensures every candidate is evaluated fairly and consistently, delivering a better experience for both recruiters and applicants.”
Interview Genius is a standard feature within Symphony Talent’s SFX On-Demand Interview platform. This ensures all clients have access to its AI-powered capabilities as part of their ODI experience and guarantees an immediate benefit from tailored, consistent and fair interviews without additional setup or complexity.
About Symphony TalentSymphony Talent delivers innovative, award-winning talent acquisition solutions that empower clients worldwide to expertly advance talent and teams. Our comprehensive suite of full-funnel solutions, expert brand services, and data analytics tools help clients execute and optimize hiring strategies, ensuring differentiated candidate experiences and improved business outcomes at every stage of the talent acquisition funnel, from attraction to hire. Visit symphonytalent.com to learn more.
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Astrix Accelerates Global Expansion with Enhanced Presence in Europe

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Expanded European presence aims to meet increasing global demand from the life science industry.
RED BANK, N.J., Oct. 1, 2024 /PRNewswire/ — Astrix, the leader in delivering innovative strategies and solutions to the life science community through its market-leading strategic consulting and technology services, is proud to announce its continued momentum and expansion in Europe, fueled by growing demand for its offerings. In addition to a continuously expanding global team of life science professionals across its U.S. offices and European headquarters in Ireland, the company is also planning to establish new locations in Europe in the near future to accommodate its rapid growth and new customers in the region since formally launching last year.

“We knew, when Astrix launched in Europe last year, that there was a demand for our highly-specialized strategic and technical services. It turns out the need is even greater than we could have imagined and we are excited to extend our support, global perspective, and the unique approach we bring as a company to meet the need for even more clients in the European market,” said Dale Curtis, CEO of Astrix.
Astrix maintains a dedicated workforce of technologists, former scientists, and domain experts from the life science community, with 90% holding advanced science degrees. This deep expertise enables Astrix to deliver unmatched expertise and support to its pharmaceutical, life science, and biotech customers worldwide with its strategic and technical initiatives in and around the laboratory. As the industry faces new challenges in a highly-regulated and rapidly-evolving environment, Astrix assists its global clients by offering:
Expert guidance on emerging trends helping organizations get ahead and succeed in digital transformation and AI readiness with tailored, innovative strategies.A technology and platform agnostic approach, customizing every aspect to fit the client’s unique challenges, rather than one-size-fits-all.Unified team collaboration from the very beginning of planning through to execution. Unlike other consulting firms with fragmented and siloed teams, Astrix offers its customers a thoughtfully-assembled dedicated group of experts taking a more holistic approach to meeting its business goals.”We believe deeply in the importance of having a strong local presence – understanding the people, the markets, and the regulations in the regions we support. This commitment to being on the ground, close to our clients, is a big part of what sets us apart and what we will continue to prioritize as we expand across Europe,” said Michael Gannon, Director of Astrix Europe.
Between now and the end of the year, the Astrix team will be attending or presenting at events across Europe, including:
–       The Lab of the Future Congress, October 1-2 in Amsterdam-       BioTechX, October 9-10 in Basel, Switzerland
For more information about Astrix Europe, please visit https://astrixinc.com/astrix-europe/.
About Astrix
Astrix is the unrivaled market leader in creating & delivering innovative strategies and solutions to the life science community. Through world-class people, processes, and technology, Astrix works with clients to fundamentally improve business, scientific outcomes, and the quality of life everywhere. Founded by scientists to solve the unique challenges of the life science community, Astrix offers a growing array of strategic and technical services designed to deliver value to clients across their organizations.
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