Near Field Communication Market Unveiled: Key Players' Strategies and Market Growth Forecasts

Increasing trend of mobile commerce is a significant factor driving the global Near-Field Communication (NFC) market revenue growth

The global Near-Field Communication (NFC) market size is expected to reach USD 87.53 Billion in 2032 and register a steady revenue CAGR of 14.2% during the forecast period, according to the latest analysis by Emergen Research. Increasing adoption of wearable technology is a major factor driving revenue growth of the market. Activity trackers in the sporting goods sector as well as companies that provide high-end fashion accessories are driving expansion of wearable technology. Near Field Communication (NFC) and wireless charging technology are rapidly being incorporated with built-in connectivity technologies such as Wi-Fi and Bluetooth in wristbands. NFC is used to make contactless payments utilizing EMVCo-compatible technology. Undoubtedly, it is convenient to be able to make purchases without having to take out one's wallet or to go for a run without having to bring a phone or wallet. Wearables are increasingly using wireless charging. These devices batteries need to be often recharged. The ability to wirelessly charge the device is innovative for the wearable sector since it eliminates the need to bring a charger or go home.

The report also offers estimations and predictions about the market segment and sub-segments exhibiting promising growth in the forecast timeline. The report also provides deeper insights into the technological advancements, industrial landscape, and emerging product and technological developments in the Near Field Communication market. It offers fruitful insights into the business sphere to help businesses capitalize on the lucrative growth opportunities.

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Competitive Terrain:

The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Near Field Communication market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.

The leading market contenders listed in the report are:

NXP Semiconductors, Broadcom, Qualcomm Technologies, Inc., Texas Instruments Incorporated, STMicroelectronics, Samsung, Renesas Electronics Corporation, Intel Corporation, Toshiba Corporation, and ams-OSRAM AG

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Emergen Research has segmented the global Near Field Communication market on the basis of type, application, end-use, and region:

Segments Covered in this report are:

  • Device Operating Mode Outlook (Revenue, USD Million; 20192032)

    • Reader Emulation
    • Peer-to-Peer
    • Card Emulation
  • Offering Outlook (Revenue, USD Million; 20192032)

    • Non-Auxiliary Products
      1. NFC ICS Antennas
      2. NFC Tags
      3. NFC Readers
    • Auxiliary Products
      1. NFC Micro SD Cards
      2. NFC Covers
    • Software
  • Application Outlook (Revenue, USD Million; 20192032)

    • Retail
      1. Product Identification
      2. Transaction
    • Transportation
      1. Ticketing
      2. Access Control
    • Automotive
      1. Low-End
      2. Mid-Range
      3. High-End
    • Residential Commercial
      1. Physical Access
      2. Time Attendance
      3. Automated Locking System
      4. Smart Lighting
    • Medical Healthcare
      1. Medical Devices
      2. Access Control
    • Consumer Electronics
      1. Wearable Devices
      2. Mobile Phones/Tablets
      3. Laptops/Personal Computers
      4. Cameras
      5. Printers
      6. Gaming Devices
      7. Others
    • Banking Finance
      1. E-Money Services (POS Machines)
      2. Multiforex Cards
    • Hospitality
      1. Access Control
      2. Transaction
    • Others
      1. Education
      2. Government

The various regions analyzed in the report include:

  • North America (U.S., Canada)
  • Europe (U.K., Italy, Germany, France, Rest of EU)
  • Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
  • Latin America (Chile, Brazil, Argentina, Rest of Latin America)
  • Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Objectives of the Report:

  • Analysis and estimation of the Near Field Communication Market size and share for the projected period of 2022-2030
  • Extensive analysis of the key players of the market by SWOT analysis and Porters Five Forces analysis to impart a clear understanding of the competitive landscape
  • Study of current and emerging trends, restraints, drivers, opportunities, challenges, growth prospects, and risks of the global Near Field Communication Market
  • Analysis of the growth prospects for the stakeholders and investors through the study of the promising segments
  • Strategic recommendations to the established players and new entrants to capitalize on the emerging growth opportunities

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