Global Market for Near Field Communication is Anticipated to grow at a Significant Pace i.e., USD 36.8 Billion during the Forecast Period 2021-2027

Published Date: Jan, 2022

The global near-field communication market is expected to witness a CAGR of 14.5% during the forecast period. Near Field Communication Market is based on a wireless interface that allows all communication equipment and electronic gadgets to communicate with one another by establishing radio connectivity under proximity. This technology is mostly utilized for short-range data sharing on smartphones, computers, laptops, and tablets. Moreover, the businesses are facing many challenges like fluctuation in the supply chain, a shift in working hours, and protecting their employees, resulting in the adoption of NFC tags. Moreover, the industry players are innovating NFC-enabled products during the outbreak to improve the customer experience. Near-field communication (NFC) technology is widely employed in mobile payment terminals. Google wallet technology has been adopted by retailers such as Target, Macy's, and Walgreens. The rising need for convenient transfer and data security along with the proliferation of smartphones will propel the growth of the NFC market. Nevertheless, the leading and emerging countries like the US, Germany, China, India will be the major markets for NFC during the projected period. Thus, the rising mobile penetration along with enhanced payment infrastructure and data connectivity will provide significant opportunities for the growth of NFC-enabled mobile payment.

In October 2021, Infineon a prominent leader for payment ICs has announced a novel SECORA™ Pay portfolio on 40 nm technology with best-in-class contactless performance.

The rising demand for NFC in contactless payment via mobile and POS during the COVID-19 crisis has accelerated the growth of the NFC market.

Browse 53 market data Tables and 35 Figures spread through 200 Pages and in-depth TOC on " Near Field Communication Market by Device Operating Mode (Reader Emulation, Peer-To-Peer, and Card Emulation), by Offering (Non-Auxiliary Products (NFC ICs & Antennas, NFC Tags, NFC Readers), Auxiliary Products (NFC Micro-SD Cards, NFC SIM/UICC Cards, and NFC Covers), and Software), by Application (Retail (Access Control, Product Identification, and Transaction), Transportation (Ticketing and Access Control), Automotive (Low-End, Mid-Range, and High-End), Residential & Commercial (Physical Access, Time & Attendance, Automated Locking System, and Smart Lighting), Medical & Healthcare (Medical Devices and Access Control), Consumer Electronics (Wearable Devices, Mobile Phones/Tablets, Laptops/ Pcs, Cameras, Printers, Gaming Devices, and Others), Banking & Finance (E-Money Services (POS machines) and Multi Forex Cards), Hospitality (Access Control and Transaction), and Others (Education and Government)), and Region - Global Forecast to 2027"

By offering, NFC reader in non-auxiliary products dominates the NFC market.

Based on offering, the global near-field communication market is divided into non-auxiliary products, auxiliary products, and software. The non-auxiliary products are further sub-divided into NFC ICs & antennas, NFC tags, NFC readers. NFC micro-SD cards, NFC SIM/UICC cards, and NFC covers are some of the auxiliary products. NFC reader is anticipated to witness the largest share owing to the rising demand for NFC readers in network access and authentication applications. Furthermore, the NFC reader is compact and has capabilities such as access control, payments, mass transit, and attendance tracking.

Global Near Field Communication Market Segmentation Analysis

Segment

Categorization

Leading Category

Device Operating Mode

Reader Emulation, Peer-To-Peer, and Card Emulation

Reader Emulation

 (High CAGR)

Offering

Non-Auxiliary Products(NFC ICS & Antennas, NFC Tags, NFC Readers), Auxiliary Products (NFC Micro-SD Cards, NFC SIM/UICC Cards, and NFC Covers), and Software

Non-Auxiliary Products (Largest)

 

Application

Retail (Access Control, Product Identification, and Transaction), Transportation (Ticketing and Access Control), Automotive (Low-End, Mid-Range, and High-End), Residential & Commercial (Physical Access, Time & Attendance, Automated Locking System, and Smart Lighting), Medical & Healthcare (Medical Devices and Access Control), Consumer Electronics (Wearable Devices, Mobile Phones/Tablets, Laptops/ Pcs, Cameras, Printers, Gaming Devices, and Others), Banking & Finance (E-Money Services (POS machines) and Multi Forex Cards), Hospitality (Access Control and Transaction), and Others (Education and Government)

Banking & Finance (High CAGR)

Healthcare

(Significant Growth)

Region

North America, Europe, Asia-Pacific, and Rest of the World

North America (Largest)

Asia-Pacific (Fastest)

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“APAC is anticipated to have a high CAGR in NFC market during 2021-2027.”

APAC is anticipated to have a high CAGR owing to the world’s fastest-growing and leading industrialized economies as there are novel technologies and developments across industry verticals. The increased penetration of smartphones in the countries like India and China, mounting investment in R&D activities for the innovation of novel NFC devices will fuel the growth in the region.

Some of the major players in the global Near Field Communication Market include NXP Semiconductors, Broadcom, Qualcomm Technologies, Inc., Texas Instruments Incorporated, STMicroelectronics, Infineon Technologies AG, TOSHIBA ELECTRONIC DEVICES & STORAGE CORPORATION, Thales Group, Identiv, Inc., and MagTek Inc.

Scope of the Report

Report Metric

Details

Market Size Available for the Years in the Study

2015–2027

Historical Period

2015–2020

Base Year

2020

Forecast Period

2021–2027

Segments Covered in the Study

Device Operating Mode, Offering, Application, and Region

Geographies Covered in the Study

North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia), Asia-Pacific (China, Japan, India, South Korea), and Rest of the World (Brazil, Saudi Arabia, South Africa, U.A.E.)

Companies Covered in the Study

NXP Semiconductors, Broadcom, Qualcomm Technologies, Inc., Texas Instruments Incorporated, STMicroelectronics, Infineon Technologies AG, TOSHIBA ELECTRONIC DEVICES & STORAGE CORPORATION, Thales Group, Identiv, Inc., and MagTek Inc.

Global Near Field Communication Market Coverage

Device Operating Mode Insight and Forecast 2015-2027

  • Reader Emulation
  • Peer-To-Peer
  • Card Emulation

Offering Insight and Forecast 2015-2027

  • Non-Auxiliary Products
    • NFC ICs & Antennas
    • NFC Tags
    • NFC Readers
  • Auxiliary Products
    • NFC Micro-SD Cards
    • NFC SIM/UICC Cards
    • NFC Covers
  • Software

Application Insight and Forecast 2015-2027

  • Retail
    • Access Control
    • Product Identification
    • Transaction
  • Transportation
    • Ticketing
    • Access Control
  • Automotive
    • Low-End
    • Mid-Range
    • High-End
  • 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
    • Cameras
    • Printers
    • Gaming Devices
    • Others
  • Banking & Finance
    • E-Money Services (POS Machines)
    • Multi forex Cards
  • Hospitality
    • Access Control
    • Transaction
  • Others
    • Education
    • Government

Geographical Segmentation

Near Field Communication Market by Region

North America

  • By Device Operating Mode
  • By Offering
  • By Application
  • By Country – U.S., Canada, and Mexico

Europe

  • By Device Operating Mode
  • By Offering
  • By Application
  • By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe

Asia-Pacific (APAC)

  • By Device Operating Mode
  • By Offering
  • By Application
  • By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific

Rest of the World (RoW)

  • By Device Operating Mode
  • By Offering
  • By Application
  • By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries

 

 

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Global Market for Near Field Communication is Anticipated to grow at a Significant Pace i.e., USD 36.8 Billion during the Forecast Period 2021-2027