Near-field communication (NFC) is a short-range wireless connectivity technology that enables NFC-enabled devices to communicate with each other. This technology facilitates user the exchange of digital content, transactions, and connection with varied electronic gadgets. The growing trend of mobile commerce, increasing adoption of wearable technology, rising penetration of contactless NFC Point of Sale (POS), coupled with the surging demand for smartphones and tablets are the chief factors that are stimulating the market demand across the globe.
For instance, according to Statista, in 2021, the total number of smartphone subscriptions was estimated to account for 6,269 million worldwide and the amount is continuously growing and likely to reach 7,690 million by 2027. Consequentially, the increasing adoption of a smartphone is propelling the demand for near-field communication (NFC), which may exhibit a positive influence on the market growth in the approaching years.
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However, security concerns associated with NFC and lack of awareness about the benefits of NFC impede the growth of the market over the forecast period of 2022-2028. Also, the increasing need for connectivity between different devices and the rising penetration of contactless technology is anticipated to act as a catalyzing factor for the market demand during the forecast period.
The key regions considered for the global Near Field Communication (NFC) Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. Asia-pacific is the leading region across the world in terms of market share owing to the rising penetration of tablets and smartphones, along with the availability of various mobile payment services. Whereas, Europe is anticipated to exhibit the highest CAGR over the forecast period 2022-2028. Factors such as the growing awareness regarding the availability of NFC, as well as surging demand for the rapid proliferation of the internet and NFC-enabled devices, would create lucrative growth prospects for the Near Field Communication (NFC) Market across the European region.
Major market players included in this report are:
Broadcom Inc.
Identive GmbH
Infineon Technologies AG
MagTek
NXP Semiconductors N.V.
Qualcomm Technologies, Inc
Samsung Electronics Co. Ltd
Sony Corporation
Texas Instruments Incorporated
Thales Group
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type
SD Cards
SIM Cards
NFC Cover
NFC ICs
NFC Tags
NFC Readers
By Application
Access Control
Ticketing
Data Sharing
Medical Devices
Transaction
Product Identification
Others
By Region:
North America
U.S.
Canada
Europe
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UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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