Near-Field Communication (NFC) Market - Trends Forecast Till 2028

Near-Field Communication (NFC) Market, By Device Operating Mode (Reader Emulation, Peer-To-Peer, Card Emulation), Offering (Non- Auxiliary Products, Auxiliary Products, Software), Application (Retail, Transportation, Automotive, Residential & Commercial, Medical & Healthcare, Consumer Electronics, Banking & Finance, Hospitality, Others), Geography (North America, Europe, Asia-Pacific, Middle East and Africa and South America)

Published Date: January, 2021

Base Year Estimate: 2020

Report ID: D-SE-NFCM-68

Format:  

Number of Pages: 276

Domain: Semiconductors & Electronics

Near-Field Communication (NFC) Market – Trends Forecast Till 2028

The global near-field communication (NFC) market is anticipated to reach USD 18.4 billion in 2021 growing at a CAGR of 14.7% during the forecasting period, 2021-2028. Near Field Communication (NFC) has been widely used in various sectors namely payment areas, healthcare areas, public transportation areas, retail industrial areas, tourism areas, indoor navigation system areas, education areas, and automotive areas among others even though NFC is still an evolving technology. 

The advent of e-commerce platforms m-commerce and increasing demand for wearable technology are some of the factors that have supported long-term expansion for the near-field communication (NFC) industry. 

Near-Field Communication (NFC) Market – Trends Forecast Till 2028

The global near-field communication (NFC) market is segmented into device operating type, offering, application, and geography.

Device operating type segment is segmented into Reader Emulation, Peer-To-Peer, and Card Emulation

Offering segment is segmented into (Non- Auxiliary Products, Auxiliary Products, and Software

Application segment is segmented into Retail, Transportation, Automotive, Residential & Commercial, Medical & Healthcare, Consumer Electronics, Banking & Finance, Hospitality, and Others

Geographically, the global near-field communication (NFC) market is sub-segmented into North America, Europe, Asia-Pacific, Middle East and Africa and South America and insights are provided for each region and major countries within the regions

Asia-Pacific region has come up as the prominent region for the leading share in the overall global market during the forecast period 2021-2028.

Key players in the global near-field communication (NFC) market are NXP Semiconductors, Broadcom, Qualcomm, Texas Instruments, and STMicroelectronics among others

The companies have come up with various promotional activities in from of launch, investment, acquisition, and other, for instance:

  • Broadcom Corporation introduced two new Near Field Communication (NFC) solutions that were showcased at the Consumer Electronics Show (CES) in Las Vegas. This launch will inspire acceptance in wider consumer electronics devices like TVs and remotes, computer keyboards mice, game controllers, and, printers and headsets among others

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Research Methodology

Secondary Research

This research method involved the usage of extensive secondary sources (such as directories and databases)—Hoovers, Avention, annual reports, investor presentation, conferences like Jefferies conference)—to identify and collect information useful for this study of the near-field communication (NFC) market. The purpose of secondary research is to identify and collection of extensive, technical, market-oriented, and commercial studies of the global near-field communication (NFC) market. Through secondary research, the market is classified and segmented as per of industry trend, development, regional market. Product and technology development. 

Primary Research

The primary sources mainly included several industry experts from the core and related industries and suppliers, manufacturers, distributors, alliances, and organizations related to all segments of this industry’s supply chain. In-depth interviews were conducted with various primary respondents—including key industry participants, subject matter experts (SMEs), C-level executives of key market players, and industry consultants, among other experts—to obtain and verify critical qualitative and quantitative information as well as to assess future prospects. The following figure depicts the market research methodology used in drafting this report on the near-field communication (NFC) market.

Primary Respondent breakdown is given below:

Near-Field Communication (NFC) Market – Trends Forecast Till 2028

Market Sizing

Top-down and bottom approaches were used to derive the market estimate and validate the total revenue of the near-field communication (NFC) market. This approach has also been used to derive the market for segmentation and sub-segmentation. 

Data Validation

Impact analysis has been conducted for deriving the market size. After collecting the in-depth quantitative and qualitative data, we contact primary respondents in order to gain a 98.8% of confidence level on our data.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants 

Reasons to Acquire

  • Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors
  • Gain authentic and granular data access for near-field communication (NFC) market so as to understand the trends and the factors involved behind changing market situations
  • Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
  • In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope

 

Report Feature

Descriptions

Market Revenue In 2021

USD 18.4 billion

Growth Rate

CAGR of 14.7% during the forecasting period, 2021-2028

Historical Data

2018-2019

Forecast Years

2021-2028

Base Year 

2020

Units Considered

Revenue in USD billion and CAGR from 2021 to 2028

Report Segmentation

Offering, Device Operating Type, Application, and Geography

Report Attribute

Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling

Regional Level Scope

North America, Europe, Asia-Pacific, South America, and the Middle East and Africa

Country Level Scope

U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe)

Companies Profiled

SGS, Eurofins Scientific, Bureau Veritas, Intertek, TÜV SÜD and Dekra

Available Customization 

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