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30 Sep 2022, 23:13 GMT+10
Global Smart Home Payments Market was valued at US$ 32.9 Bn in 2021. The market is expected to reach US$ 49.2 Bn by 2022 and US$ 318.2 Bn by 2032, finds Future Market Insights (FMI) in a recent market survey. As per the findings of the report Digital Wallet segment will remain pivotal for the market as the bulk of revenue will be generated through this category. It is projected that the Digital Wallet segment will account for a CAGR of 20.6% during 2022 - 2032. The various lucrative offers such as profitable reward points, and loyalty vouchers are among the key attributes responsible for its attractiveness.
The US to Command the Larger Proportion of Smart Home Payments Market throughout the Analysis Period
The U.S. commands 36.1% of the market share and is expected to keep its dominance intact with an absolute dollar opportunity growth of US$ 94.3 Bn to reach a valuation of US$ 111.9 Bn by 2032. By 2025, the cohort of people using online banking in the U.S. is projected to reach 216.8 Mn. This is expected to expand the demand for smart home payments market.
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"The Connected Appliance segment by application has significant potential to emerge as a key market driver during the forecast period for the Smart Home Payments market." comments an analyst at Future Market Insights.
Smart Home Payments Market: Competition Insights
Currently, Smart Home Payments manufacturers are largely aiming at adopting strategies such as mergers, acquisitions, and partnerships. They are working towards finding a balance between expanding their product portfolio and capitalizing on the growing market demand. The key companies operating in the Smart Home Payments market include Amazon.com Inc., Apple Inc., Google LLC, LG Electronics Inc., Mastercard Inc., NMI, Inside Secure, EBizCharge, Ingenico Group S.A., Heartland Payment Systems Inc., Baidu Inc., Xiaomi Corporation, Samsung Group, and Lenovo Group Limited.
The key recent developments of Smart Home Payments manufacturers are as follows:
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More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the Smart Home Payments Market, presenting historical market data (2015-2021) and forecast statistics for the period of 2022-2032.
The study reveals extensive growth in the Smart Home Payments Market in terms of Payment Type (Mobile Payment, Digital Wallet, and Online Banking), Application (Connected Appliance Payments, Connected TV Payments, and Smart Speaker Payments) across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
Key Segments Covered In Market Survey
The Smart Home Payments Market is segmented based on payment type, application, and region.
By Payment Type:
By Application:
By Region:
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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The post Smart Home Payments Market Set to Witness an Uptick Size US$ 318.2 Billion to 2032 | Future Market Insights, Inc. appeared first on Future Market Insights.
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