The latest research study “Near Field Communication (NFC) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that The global near field communication (NFC) market size reached US$ 19.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 46.07 Billion in by 2027 exhibiting a CAGR of 14.50% during 2022-2027.
Covid-19 Impact:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Industry Definition and Application:
Near-field communication (NFC) represents a short-range wireless technology that allows two devices to communicate by using a low-power protocol. Some of the commonly available NFC devices are tags, integrated circuits (ICs), SIM cards, readers, etc. Near-field communication is widely used for marketing, making payments, ticketing, and gaming applications in smartphones, tablets, laptops, wearables, cameras, printers, etc.
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In addition to this, it allows faster payment transactions and offers ease of convenience, improved versatility, seamless communication between devices, etc. Consequently, near-field communication is widely utilized in several sectors, such as retail, banking, financial services, and insurance (BFSI), transportation, automotive, healthcare, hospitality, consumer electronics, etc., across the global.
Near Field Communication (NFC) Market Trends and Drivers:
The inflating need for social distancing to minimize human contact, on account of the sudden outbreak of the COVID-19 pandemic, is augmenting the adoption of intelligent payment solutions, including cashless or contactless payments, which is primarily driving the near field communication (NFC) market.
Additionally, the escalating demand for smartphones enabled with NFC technology that allows consumers to make easier and faster mobile transactions is also catalyzing the market growth. Besides this, the rising integration of the Internet of Things (IoT) with near field communication-compatible smart wearables is acting as another significant growth-inducing factor.
Moreover, the introduction of NFC-enabled smart posters, boarding passes, sensors, etc., and extensive investments in R&D activities are further positively influencing the global market. Apart from this, the launch of numerous favorable policies by government bodies to promote a cashless economy is anticipated to fuel the near field communication (NFC) market over the forecasted period.
Breakup by Offering:
- Non-Auxiliary Products
- NFC ICS and Antennas
- NFC Tags
- NFC Readers
- Auxiliary Products
- NFC Micro Sd Cards
- NFC SIM/UICC Cards
- NFC Covers
- Software
Breakup by Operating Mode:
- Read and Write Mode
- Peer-To-Peer Mode
- Card Emulation Mode
Breakup by End User:
- Retail
- Transportation
- Automotive
- Residential and Commercial
- Medical and Healthcare
- Consumer Electronics
- Banking and Finance
- Hospitality
- Others
By Geography:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
List of Major Key Players:
The major players in the market Avery Dennison Corporation, Broadcom Inc., Hid Global Corporation (Assa Abloy AB), Identiv Inc., Infineon Technologies AG, Magtek Inc., NXP Semiconductors N.V., Samsung Electronics Co. Ltd., Sony Group Corporation, STMicroelectronics, Texas Instruments Incorporated and Thales Group.
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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Moreover, this market report also covers regional and country markets in detail.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the near field communication (nfc) chips market include Murata Manufacturing Co. Ltd, EM Microelectronic-Marin S.A., Marvell Technology Group Ltd, STMicroelectronics N.V., MediaTek Inc, Toshiba Corporation, Inside Secure S.A., Samsung Semiconductor Inc, NXP Semiconductors N.V., Broadcom Corporation.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Near Field Communication (NFC) Chips Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/near-field-communication-nfc-chips-market/download-sampleMarket DynamicsThe global near-field communication (NFC) chips market is estimated to proliferate at a lucrative rate during the forecast period.
The increasing trend of mobile commerce and the growing adoption of wearable & portable technology is steering the global near field communication (NFC) chips market.
Increasing urbanization in emerging economies, growing online and in-store payment, increasing penetration of contactless technology, and increasing need for connectivity between different devices are anticipated to propel the global near field communication (NFC) chips market.
However, lack of awareness about the benefits of NFC, issue of short-range communication, security concerns, and competition from alternative payment methods is limiting the market growth.The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis.
