Loading...

Contactless Payment Ring Market End User (Individual, Business) Application (General Payments, Transportation Payment) : Global Opportunity Analysis and Industry Forecast, 2020-2027

A06395
Pages: NA
Oct 2020 | 445 Views
 
Author(s) : NA
Tables: NA
Charts: NA
 

COVID-19

Pandemic disrupted the entire world and affected many industries.

Get detailed COVID-19 impact analysis on the Contactless Payment Ring Market

Request Now !

Contactless payments are well known and used in each part of the world. As technology is advancing the engineering innovations are taking place each year. There is exponential growth in the contactless payment market as the customers are becoming more tech-savvy. The technologies used behind these innovations are generally Radio Frequency Identification (RFID) and Near Field Communication (NFC). The contactless payment rings are used to make small payments by tapping the Point of Sale terminal which generally accepts the contactless MasterCard payment, just by making a knocking gesture and the payment is processed. The ring is made up of Zirconia ceramic housing, an optimized antenna design, and a high-performance contactless security controller. The inner band of the ring is made by the use of hard inert resin, sealing the electronics making it completely waterproof as well as making it safe from any type of skin allergies. The ring works on the principle of electromagnetic induction; hence battery is not required for this product to work.The activation of the ring is required which associates it with the bank account of the customer and then the secure payments can be made through it. The growing market for the contactless payment ring is the U.S., Europe, and Asia-Pacific.

 

Market scope and structure analysis :

                    Report Metric

  Details

  Market size available for years

  2020–2027

  Base year considered 

  2019

  Forecast period

  2021–2027

  Forecast units

  Value ($US)

  Segments covered

  End User, Application, and Region

  Regions covered

North America (U.S. and Canada), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Malaysia, Thailand, Indonesia, and Rest of Asia-Pacific), LAMEA (Middle East, Brazil, and Rest of LAMEA)

  Companies covered

K Ring, Mc LEAR Ltd., Cnick Ring, OPN Ring, Token Ring, Xenxo S - Ring.

 

COVID-19 ScenarioAnalysis: 

Lockdown Scenario

The lockdown scenario due to the COVID-19 pandemic has affected the industry as the customers are not able to travel from one place to another. The contactless payment rings work when they are tapped on the point of sale so there has been a considerable decline in the use of the ring. Though, the contactless payment ring market is likely to experience exponential growth after the lockdown scenario; keeping in mind the social distancing concept. 

Production Hampered

The production has been hampered as in many countries as the manufacturing units had to shut down and there is a shortage of labor. The shortage of raw material transportation is also an issue for the industries.

Impaired Supply Chain

The distribution channels like the brand stores have to close down in the lockdown phase and this has led to a loss in the sales and revenue generation.The e-commerce platform is being adopted widely but it is also being affected due to delayed deliveries.  

Regulatory Hurdles

The regulatory hurdles like closing down of locations and businesses which use the contactless mode of payment have impacted the growth of the contactless payment ring market. The restrictions in the import and export of the products hamper revenue from some potential markets.

Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis

Initially, the contactless payments were introduced through the debit card and credit card without any use of the personal identification number or signature, later it shifted to the applications in the Smartphone and now the market is expanding by incorporating the chip cards in the wearable and accessories. The application in advanced & portable devices, the hypo-allergicmaterial being used, water-resistance properties, speed and precision, the feasibility of carrying the wearable, no charging and battery alternatives, availability of different size and color of the ring and ease of payment are the key drivers of the global contactless payment ring market. However, the increasing competition in the market, expiration date of the wearable ring, and the high investment in the technology somehow hinder the market growth. Contrarily, if the awareness among the customers is increased and the large target market is focused along with the investments in safety measures then the trend of wearable devices will present new pathways in the industry.

The global contactless payment ring market trends are as follows:

Escalating the features in one wearable

The trend of smart rings has been persistent in the Tech market for a long time. The customers are attracted to the wearable and accessories from good old times but the innovation has served the customers with astonishing products and the contactless ring market is one of them. These innovative rings are used as travel cards for paying in public transportation, as access badge at various institutions, for monitoring the physical health and stress level of the person wearing it, for opening the lock of smartphone and sharing information just by one tap and also as smart key for homes and cars. Different color combinations are being offered by different brands dealing in this market. The ring has replaced the ticket and Oyster Card for transportation in London and is showing tremendous popularity. This product is an advanced form of technology as it need not be paired with the phones. It is associated to the MasterCard payment network, though the mobile applications can be downloaded and connected to the account for the transaction information.

Collaboration leading to advancements in the market

The key players have established partnerships and collaborated with various other industries for the growth of their market. Kerv wearers also known as K ring and McLear have been in partnership with MasterCard, Moorwand Ltd., ABN AMRO, PSI-PAY, Spartan Race UK, and many others. These collaborations lead to benefits for both the industries and help expand their market share. 

Key Segments Covered:

  Segments

  Sub-segments

  End User

  • Individual
  • Business

  Application

  • General Payments
  • Transportation Payment

 

Key Benefits of the Report:

  • This study presents the analytical depiction of the global contactless payment ring market along with the current trends and future estimations to determine the imminent investment pockets.

  • The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the global contactless payment ring market share.

  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global contactless payment ring market growth scenario.

  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 

  • The report provides a detailed global contactless payment ring market analysis based on competitive intensity and how the competition will take shape in the coming years.  

Questions Answered in the Contactless Payment Ring Market Research Report:

  • What are the leading market players active in the contactless payment ring market?

  • What the current trends will influence the market in the next few years?

  • What are the driving factors, restraints, and opportunities in the market?

  • What future projections would help in taking further strategic steps?

 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

  • Consistent, valuable, robust and actionable data & analysis that can easily be referenced for strategic business planning
  • Technologically sophisticated and reliable insights through well audited and veracious research methodology
  • Sovereign research proceeds that present a tangible depiction of marketplace


With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic new articles, web-casts and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast


Primary research
Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

  • Validates and improves the data quality and strengthens research proceeds
  • Further develops analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth and forecasts


Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

  • Chief executives and VPs of leading corporations specific to industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)


Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
 

PURCHASE OPTIONS

Start reading ,This title and over 12000 thousand more,available with Avenue Library,  T&C*

Reach out to us

Call us on
( U.S. - Canada toll free )
+1-800-792-5285,   
Int'l : +1-503-894-6022
( Europe )
+ 44-845-528-1300
Drop us an email at
help@alliedmarketresearch.com

 

HAVE QUESTIONS?
SPEAK WITH ANALYST

 

FREQUENTLY ASKED
QUESTIONS?

 

DID YOU MISS ANYTHING?
DO YOU HAVE SPECIFIC REQUIREMENTS?

 

REQUEST TOC/SAMPLE

OR

Purchase Full Report of
Contactless Payment Ring Market

  • Online Only
  • $3,456  $3,110
  • Online cloud access only
  • Restricted print, copy, paste & download
  • Read only
  •   Free quarterly industry update
  •   Free report update (Within 180 days)
  •   Subscription model sign in
  • Data Pack
  • $3,840  $3,456
  • Restricted to one authorized user
  • One print only
  • Available in
    Excel
  •   Free quarterly industry update
  •   Free report update (Within 180 days)
  •   Subscription model sign in
  • Single User
  • $5,769  $5,192
  • Restricted to one authorized user
  • One print only
  • Available in Excel & PDF
  •   Free quarterly industry update
  •   Free report update (Within 180 days)
  •   Subscription model sign in
  • Five Users
  • $6,450  $5,805
  • Limited to five authorized users
  • Print upto five copies
  • Available in Excel & PDF
  •   Free quarterly industry update
  •   Free report update (Within 180 days)
  •   Subscription model sign in
  • Enterprise
    License/PDF

  • $8,995  $8,096
  • Unlimited
    within
    company/enterprise
  • Available in Excel & PDF
  •   Free quarterly industry update
  •   Free report update (Within 180 days)
  •   Subscription model sign in
  • Library Membership
  • $ 699/mo
  • Published Content
    E-access
  • Company Profiles
    E-access
  • Newly Added Content Access
  • 10 PDF
    Downloads
  • 5 Excel Data
    Pack Downloads
  • 250 Company Profiles PDF Downloads
  • Start reading.
    This title and over 12,000+ are available on the Avenue Library.  T&C*.

    Buy Now

*Taxes/Fees, if applicable will be added during checkout. All prices in USD

 

Why Allied Market Research?

 

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers

 
 

Featured Reports

 

Featured Readings

 

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

 
Get Industry Data Alerts