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 recent study on the Near Field Communication market aims at illuminating the performance of the Near Field Communication industry for the forecast period 2020 to 2028. Importantly the research digs deep into the competitive landscape where major vendors and new entrants are trying to keep up with the cut-throat competition worldwide. A thorough analysis of how technology is influencing the developments in the Near Field Communication market forms an important part of the overall research.
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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
Key reasons to buy the Global Near Field Communication Market report:
- It offers a detailed account of the end-use applications of the products services offered by this industry.
- The latest report comprehensively studies the global Near Field Communication market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.
- The report offers an insightful analysis of the regional outlook of the market.
- The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.
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Market Segmentations of the Near Field Communication Market
- Device Operating Mode Outlook (Revenue, USD Million; 2019–2032)
- Reader Emulation
- Card Emulation
- Offering Outlook (Revenue, USD Million; 2019–2032)
- Non-Auxiliary Products
- NFC ICS & Antennas
- NFC Tags
- NFC Readers
- Auxiliary Products
- NFC Micro SD Cards
- NFC Covers
- Non-Auxiliary Products
- Application Outlook (Revenue, USD Million; 2019–2032)
- Product Identification
- Access Control
- Residential & Commercial
- Physical Access
- Time& Attendance
- Automated Locking System
- Smart Lighting
- Medical & Healthcare
- Medical Devices
- Access Control
- Consumer Electronics
- Wearable Devices
- Mobile Phones/Tablets
- Laptops/Personal Computers
- Gaming Devices
- Banking & Finance
- E-Money Services (POS Machines)
- Multiforex Cards
- Access Control
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Regional Outlook of the Near Field Communication Market
The global Near Field Communication market has been categorized into several important geographical regions, including North America, Europe, Asia Pacific, Latin America, and Middle East Africa. In this section, authors of the report have studied the presence of the global Near Field Communication market across major geographies. Moreover, the estimated market share, market size, revenue contribution, sales network and distribution channel, and other crucial elements of each regional segment have been detailed in the report.
The research provides answers to the following key questions:
- What will be the growth rate of the Near Field Communication market for the forecast period, 2020 to 2030? What will be the market size and the share occupied by the prominent vendors by the estimated period?
- What are challenges and threats faced by the prominent vendors operating in the Near Field Communication market?
- Who are the prominent vendors and what has been their business strategy so far to maintain a competitive edge over their competitors?
- What are the past, present and emerging trends likely to influence the growth rate of the Near Field Communication market for the forecast period, 2022 to 2030?
- What are the opportunities prominent vendors can bank on to generate more profits during the estimated period?
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