| Product Code: ETC5612073 | Publication Date: Nov 2023 | Updated Date: Oct 2025 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | Author: Ravi Bhandari | No. of Pages: 60 | No. of Figures: 30 | No. of Tables: 5 |
The Cyprus market for wearable payment devices saw a notable increase in import shipments in 2024, with top exporting countries including Greece, Ireland, Germany, China, and Metropolitan France. Despite the high Herfindahl-Hirschman Index (HHI) reflecting market concentration, the industry experienced a slight decline with a compound annual growth rate (CAGR) of -0.6% from 2020 to 2024. However, there was a positive growth rate of 12.96% from 2023 to 2024, indicating a potential uptick in demand and market activity for wearable payment devices in Cyprus.

1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Cyprus Wearable Payment Device Market Overview |
3.1 Cyprus Country Macro Economic Indicators |
3.2 Cyprus Wearable Payment Device Market Revenues & Volume, 2021 & 2031F |
3.3 Cyprus Wearable Payment Device Market - Industry Life Cycle |
3.4 Cyprus Wearable Payment Device Market - Porter's Five Forces |
3.5 Cyprus Wearable Payment Device Market Revenues & Volume Share, By Device Type, 2021 & 2031F |
3.6 Cyprus Wearable Payment Device Market Revenues & Volume Share, By Technology , 2021 & 2031F |
3.7 Cyprus Wearable Payment Device Market Revenues & Volume Share, By Application, 2021 & 2031F |
3.8 Cyprus Wearable Payment Device Market Revenues & Volume Share, By Sales Channel, 2021 & 2031F |
4 Cyprus Wearable Payment Device Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Cyprus Wearable Payment Device Market Trends |
6 Cyprus Wearable Payment Device Market Segmentations |
6.1 Cyprus Wearable Payment Device Market, By Device Type |
6.1.1 Overview and Analysis |
6.1.2 Cyprus Wearable Payment Device Market Revenues & Volume, By Smart Watches, 2021-2031F |
6.1.3 Cyprus Wearable Payment Device Market Revenues & Volume, By Fitness Trackers, 2021-2031F |
6.1.4 Cyprus Wearable Payment Device Market Revenues & Volume, By Payment Wristbands, 2021-2031F |
6.1.5 Cyprus Wearable Payment Device Market Revenues & Volume, By Smart Rings, 2021-2031F |
6.2 Cyprus Wearable Payment Device Market, By Technology |
6.2.1 Overview and Analysis |
6.2.2 Cyprus Wearable Payment Device Market Revenues & Volume, By Near Field Communication Technology (NFC), 2021-2031F |
6.2.3 Cyprus Wearable Payment Device Market Revenues & Volume, By Radio Frequency Identification (RFID), 2021-2031F |
6.2.4 Cyprus Wearable Payment Device Market Revenues & Volume, By QR & Barcode, 2021-2031F |
6.3 Cyprus Wearable Payment Device Market, By Application |
6.3.1 Overview and Analysis |
6.3.2 Cyprus Wearable Payment Device Market Revenues & Volume, By Retail/Grocery Stores, 2021-2031F |
6.3.3 Cyprus Wearable Payment Device Market Revenues & Volume, By Restaurants, 2021-2031F |
6.3.4 Cyprus Wearable Payment Device Market Revenues & Volume, By Hospitals/Pharmacies, 2021-2031F |
6.3.5 Cyprus Wearable Payment Device Market Revenues & Volume, By Entertainment Centers, 2021-2031F |
6.3.6 Cyprus Wearable Payment Device Market Revenues & Volume, By Others, 2021-2031F |
6.4 Cyprus Wearable Payment Device Market, By Sales Channel |
6.4.1 Overview and Analysis |
6.4.2 Cyprus Wearable Payment Device Market Revenues & Volume, By Direct Sales, 2021-2031F |
6.4.3 Cyprus Wearable Payment Device Market Revenues & Volume, By ? Indirect Sales, 2021-2031F |
7 Cyprus Wearable Payment Device Market Import-Export Trade Statistics |
7.1 Cyprus Wearable Payment Device Market Export to Major Countries |
7.2 Cyprus Wearable Payment Device Market Imports from Major Countries |
8 Cyprus Wearable Payment Device Market Key Performance Indicators |
9 Cyprus Wearable Payment Device Market - Opportunity Assessment |
9.1 Cyprus Wearable Payment Device Market Opportunity Assessment, By Device Type, 2021 & 2031F |
9.2 Cyprus Wearable Payment Device Market Opportunity Assessment, By Technology , 2021 & 2031F |
9.3 Cyprus Wearable Payment Device Market Opportunity Assessment, By Application, 2021 & 2031F |
9.4 Cyprus Wearable Payment Device Market Opportunity Assessment, By Sales Channel, 2021 & 2031F |
10 Cyprus Wearable Payment Device Market - Competitive Landscape |
10.1 Cyprus Wearable Payment Device Market Revenue Share, By Companies, 2024 |
10.2 Cyprus Wearable Payment Device Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations | 13 Disclaimer |
Export potential enables firms to identify high-growth global markets with greater confidence by combining advanced trade intelligence with a structured quantitative methodology. The framework analyzes emerging demand trends and country-level import patterns while integrating macroeconomic and trade datasets such as GDP and population forecasts, bilateral import–export flows, tariff structures, elasticity differentials between developed and developing economies, geographic distance, and import demand projections. Using weighted trade values from 2020–2024 as the base period to project country-to-country export potential for 2030, these inputs are operationalized through calculated drivers such as gravity model parameters, tariff impact factors, and projected GDP per-capita growth. Through an analysis of hidden potentials, demand hotspots, and market conditions that are most favorable to success, this method enables firms to focus on target countries, maximize returns, and global expansion with data, backed by accuracy.
By factoring in the projected importer demand gap that is currently unmet and could be potential opportunity, it identifies the potential for the Exporter (Country) among 190 countries, against the general trade analysis, which identifies the biggest importer or exporter.
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