ウェアラブル決済デバイスの世界市場：2024年～2031年

ウェアラブル決済デバイス市場規模、シェア、動向分析レポート：タイプ別（フィットネストラッカー、決済用リストバンド、スマートウォッチ、その他）、技術別（バーコード、非接触POS端末、近距離無線通信（NFC）、クイックレスポンス（QR）コード、無線自動識別（RFID））、用途別（フェスティバル＆ライフイベント、フィットネス、ヘルスケア、小売、交通）予測期間（2024年～2031年）

ウェアラブル決済デバイス市場は、予測期間（2024年～2031年）にCAGR 16.5％で成長すると予測されます。ウェアラブル決済デバイスには、非接触決済機能を備えた腕時計、リストバンド、指輪などの電子製品が含まれます。市場成長の原動力となっているのは、スマートウォッチ需要の高まり、世界のデジタル決済市場の成長、リスト型ウェアラブルの採用拡大、デジタル決済の動向の変化です。さらに、金融機関によるウェアラブル技術の斬新な製品発表、スマート決済リング市場の成長、NFC（近距離無線通信）技術の採用拡大によって、市場はプラスの影響を受けると予想されます。

市場力学

スマートウォッチ市場の成長

近年、スマートウォッチの売上は、製品の手頃な価格、技術動向の変化、技術の進歩、ウェアラブル技術製品の採用増加により大幅に増加しており、ウェアラブル決済デバイス市場に利益をもたらしています。さらに、ほとんどのウェアラブルデバイスがスマートウォッチであるため、市場プレーヤーが決済技術をデバイスに統合する余地が生まれ、製品の機能が追加され、売上が伸びています。例えば、2023年2月、インドのフィットネス機器、ホームオーディオ、スマートアクセサリーのトップ企業の1つであるGizmoreは、2023年から2024年までに150万台以上のスマートウォッチを販売し、5.0%の市場シェアを獲得すると予想しています。さらにGizmoreは、Optiemus Electronics Limited（OEL）と協力し、翌年には約100万台のスマートウォッチを生産すると述べています。

非接触型決済の動向の高まり

市場成長を促進するもう1つの重要な要因は、非接触型決済の人気の高まりです。NFC（近距離無線通信）とRFD（無線周波数識別）技術の登場以来、デジタル決済に対する消費者の嗜好がより便利なソリューションにシフトしているため、市場では非接触型取引の件数と量が大幅に増加しています。VisaとWorldline Indiaが発表したホワイトペーパーによると、対面（F2F）取引全体に占める非接触決済のシェアは、2018年12月の2.5％未満から2021年12月には16.0％と6倍以上に増加しました。非接触決済の導入が最も多かったのは、パンデミックの影響で加速したクイックサービスレストラン、薬局、食品、食料品などの分野でした。また、2020年1月には、スーパーマーケットの全取引に占める非接触型取引の割合は25.0%でした。2022年1月までに、この数字は31.0％に増加しました。さらに、新型のNFC対応ウェアラブルデバイスは動向の促進に成功しており、決済力学の変化を利用することが期待されています。

セグメント別展望

• タイプ別では、市場はフィットネストラッカー、決済用リストバンド、スマートウォッチ、その他（リング、フォブスリーブ）に区分されます。
• 技術別では、市場はバーコード、非接触POS（販売時点情報管理）端末、近距離無線通信（NFC）、クイックレスポンス（QR）コード、無線周波数識別（RFID）に区分されます。
• 用途別では、フェスティバル＆ライフイベント、フィットネス、ヘルスケア、小売、交通に区分されます。

スマートウォッチが最大のセグメント

スマートウォッチ分野は、その需要の増加、技術の進歩、スマートウォッチの動向の上昇、製品の全体的な実用性により、市場の中で最も売れており、需要のあるウェアラブル決済デバイスであり続けています。2023年9月、Appleはアップル・ウェアラブル・シリーズ9を発表し、ベストセラーのウェアラブルに新たな機能を追加するとともに、環境面でも重要なマイルストーンとなりました。Apple Watch Series 9は、スピードと機能を向上させた新しいS9 SiP、魔法のような新しいダブルタップジェスチャー、より明るいディスプレイ、より高速なオンデバイスSiri、健康データへのアクセスとログの取得が可能になったSiri、iPhoneの精密検索などにより、これまで以上にパワフルになっています。

近距離無線通信（NFC）がこのセグメントを支配すると予測される

NFCベースのウェアラブルデバイスと技術は、その利便性、安全性、スピードにより世界中で人気を集めています。さらに、この技術はPOSやウェアラブルデバイスとの同期性が高く、費用対効果も高いです。例えば、2021年12月、Bank of Barodaとbob Worldはインド国家決済公社（NPCI）と手を組み、完全な健康エコシステムと統合された決済用ウェアラブル製品ライン、bob World Waveを発売しました。このデバイスは、すべてのNFC対応PoSデバイスで最大5000ルピー（59.8ドル）の非接触決済を提供します。顧客は5000ルピー（59.8ドル）以上の支払いをPINを使って非接触で行うことができます。

地域別展望

ウェアラブル決済デバイスの世界市場は、北米（米国、カナダ）、欧州（英国、イタリア、スペイン、ドイツ、フランス、その他欧州地域）、アジア太平洋（インド、中国、日本、韓国、その他アジア太平洋地域）、世界のその他の地域（中東とアフリカ、南米）を含む地域別に区分されます。

アジア太平洋地域は著しい市場成長を示すと予測される

アジア太平洋地域市場は将来的に最も高い成長率を示すと予測されますが、その要因としては、同地域における製品能力の向上と事業拡大のために地域企業が行う支出の継続的な増加、同地域におけるスマートウェアラブルデバイスの消費量の増加、Noise、Boatなどの低価格ウェアラブル決済デバイスメーカーの増加、可処分所得の増加などが挙げられます。例えば、2024年6月、パキスタンのスマートフォン・メーカーであるAir Link Communication Limitedは、中国のテクノロジー企業であるIMIKI Corporationとスマート・ウェアラブル・デバイスの開発に関する覚書（MoU）を締結しました。

目次

第1章 レポート概要

• 現在の用途分析と成長ポテンシャルの展望
• 調査方法とツール
• 市場内訳
  • セグメント別
  • 地域別

第2章 市場概要と洞察

• 調査範囲
• アナリストの洞察と現在の市場動向
  • 主な調査結果
  • 推奨事項
  • 結論

第3章 競合情勢

• 主要企業分析
• Apple Inc.
  • 概要
  • 財務分析
  • SWOT分析
  • 最近の動向
• Google LLC（Fitbit）
  • 会社概要
  • 財務分析
  • SWOT分析
  • 最近の動向
• Huawei Device Co., Ltd.
  • 概要
  • 財務分析
  • SWOT分析
  • 最近の動向
• Samsung Electronics Co., Ltd.
  • 概要
  • 財務分析
  • SWOT分析
  • 最近の動向
• Xiaomi Communications Co., Ltd.
  • 概要
  • 財務分析
  • SWOT分析
  • 最近の動向
• 主要戦略分析

第4章 市場セグメンテーション

• ウェアラブル決済デバイスの世界市場：タイプ別
  • フィットネストラッカー
  • 決済用リストバンド
  • スマートウォッチ
  • その他（リング、フォブスリーブ）
• ウェアラブル決済デバイスの世界市場：技術別
  • バーコード
  • 非接触POS端末
  • 近距離無線通信（NFC）
  • クイックレスポンス（QR）コード
  • 無線自動識別（RFID）
• ウェアラブル決済デバイスの世界市場：用途別
  • フェスティバル＆ライフイベント
  • フィットネス
  • ヘルスケア
  • 小売
  • 交通機関

第5章 地域分析

• 北米
  • 米国
  • カナダ
• 欧州
  • 英国
  • ドイツ
  • イタリア
  • スペイン
  • フランス
  • その他欧州
• アジア太平洋
  • 中国
  • インド
  • 日本
  • 韓国
  • その他アジア太平洋地域
• 世界のその他の地域
  • ラテンアメリカ
  • 中東・アフリカ

第6章 企業プロファイル

• Australian Payments Plus Ltd,（bpay）
• Barclays PLC
• Garmin AB
• Imagine Marketing Ltd.（Boat）
• Infineon Technologies AG
• LG Electronics Inc.
• Mastercard, Inc.
• Nexxbase Marketing Pvt Ltd.（Noise）
• Nymi Inc
• Tappy Technologies Ltd.
• Timex.com, Inc.
• Titan Company Ltd.
• VISA Inc.
• PayPal Holding Inc.
• Sevenring Innovations Pvt Ltd.

LIST OF TABLES

• 1. Global Wearable Payment Devices Market Research And Analysis By Type, 2023-2031 ($ Million)
• 2. Global Fitness Tracker For Payment Market Research And Analysis By Region, 2023-2031 ($ Million)
• 3. Global Payment Wristbands For Payment Market Research And Analysis By Region, 2023-2031 ($ Million)
• 4. Global Smartwatches For Payment Market Research And Analysis By Region, 2023-2031 ($ Million)
• 5. Global Other Wearable Payment Devices Market Research And Analysis By Region, 2023-2031 ($ Million)
• 6. Global Wearable Payment Devices Market Research And Analysis By Technology, 2023-2031 ($ Million)
• 7. Global Barcodes-Based Wearable Payment Devices Market Research And Analysis By Region, 2023-2031 ($ Million)
• 8. Global Contactless Point Of Sale (Pos) Terminal Wearable Payment Devices Market Research And Analysis By Region, 2023-2031 ($ Million)
• 9. Global Near Field Communication (NFC) Based Wearable Payment Devices Market Research And Analysis By Region, 2023-2031 ($ Million)
• 10. Global Quick Response (QR) Codes Based Wearable Payment Devices Market Research And Analysis By Region, 2023-2031 ($ Million)
• 11. Global Radio Frequency Identification (RFID) Based Wearable Payment Devices Market Research And Analysis By Region, 2023-2031 ($ Million)
• 12. Global Wearable Payment Devices Market Research And Analysis By Application, 2023-2031 ($ Million)
• 13. Global Wearable Payment Devices For Festival & Life Events Market Research And Analysis By Region, 2023-2031 ($ Million)
• 14. Global Wearable Payment Devices For Fitness Market Research And Analysis By Region, 2023-2031 ($ Million)
• 15. Global Wearable Payment Devices For Healthcare Market Research And Analysis By Region, 2023-2031 ($ Million)
• 16. Global Wearable Payment Devices For Retail Market Research And Analysis By Region, 2023-2031 ($ Million)
• 17. Global Wearable Payment Devices For Transportation Market Research And Analysis By Region, 2023-2031 ($ Million)
• 18. North American Wearable Payment Devices Market Research And Analysis By Country, 2023-2031 ($ Million)
• 19. North American Wearable Payment Devices Market Research And Analysis By Type, 2023-2031 ($ Million)
• 20. North American Wearable Payment Devices Market Research And Analysis By Technology, 2023-2031 ($ Million)
• 21. North American Wearable Payment Devices Market Research And Analysis By Application, 2023-2031 ($ Million)
• 22. European Wearable Payment Devices Market Research And Analysis By Country, 2023-2031 ($ Million)
• 23. European Wearable Payment Devices Market Research And Analysis By Type, 2023-2031 ($ Million)
• 24. European Wearable Payment Devices Market Research And Analysis By Technology, 2023-2031 ($ Million)
• 25. European Wearable Payment Devices Market Research And Analysis By Application, 2023-2031 ($ Million)
• 26. Asia-Pacific Wearable Payment Devices Market Research And Analysis By Country, 2023-2031 ($ Million)
• 27. Asia-Pacific Wearable Payment Devices Market Research And Analysis By Type, 2023-2031 ($ Million)
• 28. Asia-Pacific Wearable Payment Devices Market Research And Analysis By Technology, 2023-2031 ($ Million)
• 29. Asia-Pacific Wearable Payment Devices Market Research And Analysis By Application, 2023-2031 ($ Million)
• 30. Rest Of The World Wearable Payment Devices Market Research And Analysis By Region, 2023-2031 ($ Million)
• 31. Rest Of The World Wearable Payment Devices Market Research And Analysis By Type, 2023-2031 ($ Million)
• 32. Rest Of The World Wearable Payment Devices Market Research And Analysis By Technology, 2023-2031 ($ Million)
• 33. Rest Of The World Wearable Payment Devices Market Research And Analysis By Application, 2023-2031 ($ Million)

LIST OF FIGURES

• 1. Global Wearable Payment Devices Market Share By Type, 2023 Vs 2031 (%)
• 2. Global Fitness Tracker For Payment Market Share By Region, 2023 Vs 2031 (%)
• 3. Global Payment Wristbands For Payment Market Share By Region, 2023 Vs 2031 (%)
• 4. Global Smartwatches For Payment Market Share By Region, 2023 Vs 2031 (%)
• 5. Global Other Wearable Payment Devices Market Share By Region, 2023 Vs 2031 (%)
• 6. Global Wearable Payment Devices Market Share By Technology, 2023 Vs 2031 (%)
• 7. Global Barcodes Based Wearable Payment Devices Market Share By Region, 2023 Vs 2031 (%)
• 8. Global Contactless Point Of Sale (Pos) Terminal Wearable Payment Devices Market Share By Region, 2023 Vs 2031 (%)
• 9. Global Near Field Communication (NFC) Based Wearable Payment Devices Market Share By Region, 2023 Vs 2031 (%)
• 10. Global Quick Response (QR) Codes Based Wearable Payment Devices Market Share By Region, 2023 Vs 2031 (%)
• 11. Global Radio Frequency Identification (RFID) Based Wearable Payment Devices Market Share By Region, 2023 Vs 2031 (%)
• 12. Global Wearable Payment Devices Market Share By Application, 2023 Vs 2031 (%)
• 13. Global Wearable Payment Devices For Festival & Life Events Market Share By Region, 2023 Vs 2031 (%)
• 14. Global Wearable Payment Devices For Fitness Market Share By Region, 2023 Vs 2031 (%)
• 15. Global Wearable Payment Devices For Healthcare Market Share By Region, 2023 Vs 2031 (%)
• 16. Global Wearable Payment Devices For Retail Market Share By Region, 2023 Vs 2031 (%)
• 17. Global Wearable Payment Devices For Transportation Market Share By Region, 2023 Vs 2031 (%)
• 18. Global Wearable Payment Devices Market Share By Region, 2023 Vs 2031 (%)
• 19. US Wearable Payment Devices Market Size, 2023-2031 ($ Million)
• 20. Canada Wearable Payment Devices Market Size, 2023-2031 ($ Million)
• 21. UK Wearable Payment Devices Market Size, 2023-2031 ($ Million)
• 22. France Wearable Payment Devices Market Size, 2023-2031 ($ Million)
• 23. Germany Wearable Payment Devices Market Size, 2023-2031 ($ Million)
• 24. Italy Wearable Payment Devices Market Size, 2023-2031 ($ Million)
• 25. Spain Wearable Payment Devices Market Size, 2023-2031 ($ Million)
• 26. Rest Of Europe Wearable Payment Devices Market Size, 2023-2031 ($ Million)
• 27. India Wearable Payment Devices Market Size, 2023-2031 ($ Million)
• 28. China Wearable Payment Devices Market Size, 2023-2031 ($ Million)
• 29. Japan Wearable Payment Devices Market Size, 2023-2031 ($ Million)
• 30. South Korea Wearable Payment Devices Market Size, 2023-2031 ($ Million)
• 31. Rest Of Asia-Pacific Wearable Payment Devices Market Size, 2023-2031 ($ Million)
• 32. Latin America Wearable Payment Devices Market Size, 2023-2031 ($ Million)
• 33. Middle East And Africa Wearable Payment Devices Market Size, 2023-2031 ($ Million)

Wearable Payment Device Market Size, Share & Trends Analysis Report by Type (Fitness Tracker, Payment Wristbands, Smart Watches, and Others), by Technology (Barcodes, Contactless Point of Sale (POS) Terminal, Near Field Communication (NFC), Quick Response (QR) Codes, and Radio Frequency Identification (RFID)), and by Application (Festival & Life Events, Fitness, Healthcare, Retail, and Transportation) Forecast Period (2024-2031)

Wearable payment device market is anticipated to grow at a CAGR of 16.5% during the forecast period (2024-2031). Wearable payment devices include a range of electronic products such as watches, wristbands, and rings with contactless payment features. The market growth is driven by rising demand for smartwatches, growth in the global digital payment market, increasing adoption of wrist wearables, and a changing trend in digital payments. Further, the market is expected to be positively influenced by novel product launches in wearable technology by financial institutions, the growth of the smart payment ring market, and the growing adoption of NFC (near-field communication) technology.

Market Dynamics

Growth in the Smartwatch Market

In recent years, the sales of smartwatches have considerably increased owing to the affordability of the product, changing technological trends, advancements in technology, and increasing adoption of wearable technology products, which has benefited the wearable payment device market. Further, most wearable devices are smartwatches, creating scope for market players to integrate payment technology to the devices, resulting in added product features and growing sales. For instance, in February 2023, Gizmore, one of the top companies of fitness equipment, home audio, and smart accessories in India, expected to sell more than 1.5 million smartwatches by 2023-2024 and take a 5.0% market share there. In addition, Gizmore stated that it will be working with Optiemus Electronics Limited (OEL) to produce approximately a million smartwatches over the following year.

Rising Trend of Contactless Payments

Another key factor driving market growth is the increasing popularity of contactless payments. The market has seen a significant increase in the number and volume of contactless transactions since the advent of NFC (near-field communication) and radio frequency identification (RFD) technology, as consumers' preferences for digital payment are shifting toward more convenient solutions. According to a whitepaper released by Visa and Worldline India, contactless payments' share to total face-to-face (F2F) transactions increased by more than six times to 16.0% in December 2021 from less than 2.5% in December 2018. The highest adoption of contactless payments was observed in sectors like quick-service restaurants, pharmacies, food, and grocery which accelerated with the impact of the pandemic. Also, in January 2020, contactless transactions accounted for 25.0% of all supermarket transactions. By January 2022, this figure increased to 31.0%. Further, novel NFC-enabled wearable devices have been successful in promoting the trend and are expecting to capitalize on the changing payment dynamics.

Segmental Outlook

• Based on type, the market is segmented into fitness trackers, payment wristbands, smart watches, and others (rings, and fob sleeve).
• Based on technology, the market is segmented into barcodes, contactless point of sale (POS) terminals, near field communication (NFC), quick response (QR) codes, and radio frequency identification (RFID).
• Based on application, the market is segmented into festival & life events, fitness, healthcare, retail, and transportation.

Smartwatches are the Biggest Segment

The smartwatch segment remains the most selling and demanded wearable payment device among the market owing to its increasing demand, advancement in technology, rising trend of smartwatches, and overall practicality of the product. In September 2023, Apple announced Apple wearable Series 9, which added new capabilities to the best-selling wearable while also marking an important environmental milestone. Apple Watch Series 9 is more powerful than ever, thanks to the new S9 SiP, which improves speed and capabilities; a magical new double tap gesture; a brighter display; faster on-device Siri, which can now access and log health data; precision finding for iPhone, and more.

Near Field Communication (NFC) is Projected to Dominate the Segment

NFC-based wearable devices and technology are gaining popularity worldwide due to their convenience, security, and speed. Furthermore, the technology syncs better with POS and wearable devices whilst being cost-effective. For instance, in December 2021, the Bank of Baroda and bob World joined hands with National Payments Corporations of India (NPCI) to launch bob World Wave, a wearable line of products for payments, integrated with a complete health ecosystem. The device will provide contactless payments of up to Rs 5000 ($59.8) in all NFC-enabled PoS devices. Customers can make contactless payments above Rs. 5000 ($59.8) using a PIN.

Regional Outlook

The global wearable payment device market is segmented based on geography including North America (the US, and Canada), Europe (the UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).

Asia-Pacific is Estimated to Demonstrate a Significant Market Growth

Asia-Pacific regional market is predicted to demonstrate the highest growth rate in the future attributed to the ongoing increase in expenditure made by regional companies to improve product capabilities and expansion in the region, rising consumption of smart wearable devices in the region, growing number of low-cost wearable payment device manufacturers such as Noise, Boat, among others, and increasing disposable income. For instance, in June 2024, Air Link Communication Limited, a smartphone maker in Pakistan, signed a Memorandum of Understanding (MoU) with IMIKI Corporation, a Chinese technology company, to create smart wearable devices.

Market Players Outlook

The major companies serving the global wearable payment device market include Apple Inc., Google LLC, Huawei Device Co., Ltd., Samsung Electronics Co., Ltd., and Xiaomi Communications Co., Ltd. among others. The market players are focusing on capitalizing on growth by adopting strategies such as collaboration, partnerships, and market expansion among others. For instance, in September 2023, Eastern Bank PLC (EBL) in collaboration with payment network partners Mastercard and Visa officially launched the nation's first wearable payment devices branded WEAREBL. It will be available in a compact payment ring, a versatile phone holder and a grip, a stylish wristband, and a compact portable fob sleeve.

Table of Contents

1. Report Summary

• Current Application Analysis and Growth Potential Outlook
• 1.1. Research Methods and Tools
• 1.2. Market Breakdown
  • 1.2.1. By Segments
  • 1.2.2. By Region

2. Market Overview and Insights

• 2.1. Scope of the Report
• 2.2. Analyst Insight & Current Market Trends
  • 2.2.1. Key Findings
  • 2.2.2. Recommendations
  • 2.2.3. Conclusion

3. Competitive Landscape

• 3.1. Key Company Analysis
• 3.2. Apple Inc.
  • 3.2.1. Overview
  • 3.2.2. Financial Analysis
  • 3.2.3. SWOT Analysis
  • 3.2.4. Recent Developments
• 3.3. Google LLC (Fitbit)
  • 3.3.1. Overview
  • 3.3.2. Financial Analysis
  • 3.3.3. SWOT Analysis
  • 3.3.4. Recent Developments
• 3.4. Huawei Device Co., Ltd.
  • 3.4.1. Overview
  • 3.4.2. Financial Analysis
  • 3.4.3. SWOT Analysis
  • 3.4.4. Recent Developments
• 3.5. Samsung Electronics Co., Ltd.
  • 3.5.1. Overview
  • 3.5.2. Financial Analysis
  • 3.5.3. SWOT Analysis
  • 3.5.4. Recent Developments
• 3.6. Xiaomi Communications Co., Ltd.
  • 3.6.1. Overview
  • 3.6.2. Financial Analysis
  • 3.6.3. SWOT Analysis
  • 3.6.4. Recent Developments
• 3.7. Key Strategy Analysis

4. Market Segmentation

• 4.1. Global Wearable Payment Devices Market by Type
  • 4.1.1. Fitness Tracker
  • 4.1.2. Payment Wristbands
  • 4.1.3. Smart Watches
  • 4.1.4. Others (Rings, and Fob Sleeve)
• 4.2. Global Wearable Payment Devices Market by Technology
  • 4.2.1. Barcodes
  • 4.2.2. Contactless Point of Sale (POS) Terminal
  • 4.2.3. Near Field Communication (NFC)
  • 4.2.4. Quick Response (QR) Codes
  • 4.2.5. Radio Frequency Identification (RFID)
• 4.3. Global Wearable Payment Devices Market by Application
  • 4.3.1. Festival & Life Events
  • 4.3.2. Fitness
  • 4.3.3. Healthcare
  • 4.3.4. Retail
  • 4.3.5. Transportation

5. Regional Analysis

• 5.1. North America
  • 5.1.1. United States
  • 5.1.2. Canada
• 5.2. Europe
  • 5.2.1. UK
  • 5.2.2. Germany
  • 5.2.3. Italy
  • 5.2.4. Spain
  • 5.2.5. France
  • 5.2.6. Rest of Europe
• 5.3. Asia-Pacific
  • 5.3.1. China
  • 5.3.2. India
  • 5.3.3. Japan
  • 5.3.4. South Korea
  • 5.3.5. Rest of Asia-Pacific
• 5.4. Rest of the World
  • 5.4.1. Latin America
  • 5.4.2. Middle East and Africa

6. Company Profiles

• 6.1. Australian Payments Plus Ltd, (bpay)
• 6.2. Barclays PLC
• 6.3. Garmin AB
• 6.4. Imagine Marketing Ltd. (Boat)
• 6.5. Infineon Technologies AG
• 6.6. LG Electronics Inc.
• 6.7. Mastercard, Inc.
• 6.8. Nexxbase Marketing Pvt Ltd. (Noise)
• 6.9. Nymi Inc
• 6.10. Tappy Technologies Ltd.
• 6.11. Timex.com, Inc.
• 6.12. Titan Company Ltd.
• 6.13. VISA Inc.
• 6.14. PayPal Holding Inc.
• 6.15. Sevenring Innovations Pvt Ltd.