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

Market Overview

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. 

Key Findings

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

Regional Analysis

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.

Competitive Landscape

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

Recent Developments

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

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