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Near Field Communication (NFC) Market Report by Offering (Non-Auxiliary Products, Auxiliary Products, Software), Operating Mode (Read and Write Mode, Peer-To-Peer Mode, Card Emulation Mode), End User (Retail, Transportation, Automotive, Residential and Commercial, Medical and Healthcare, Consumer Electronics, Banking and Finance, Hospitality, and Others), and Region 2024-2032
Report Format: PDF+Excel | Report ID: SR112024A6200
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Market Overview:
The global near field communication (NFC) market size reached US$ 24.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 41.6 Billion by 2032, exhibiting a growth rate (CAGR) of 6.1% during 2024-2032.
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Report Attribute
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Key Statistics
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|---|---|
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Base Year
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2023
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Forecast Years
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2024-2032
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Historical Years
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2018-2023
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| Market Size in 2023 | US$ 24.0 Billion |
| Market Forecast in 2032 | US$ 41.6 Billion |
| Market Growth Rate (2024-2032) | 6.1% |
Near-field communication (NFC) refers to a short-range wireless technology that allows two devices to communicate using a low-power protocol. Tags, integrated circuits (ICs), SIM cards, and readers are some commonly used NFC devices. It is widely used for marketing, making payments, ticketing, and gaming applications in smartphones, tablets, laptops, wearables, cameras, and printers. NFC allows faster payment transactions and offers convenience, versatility, and seamless communication between devices, due to which it is widely adopted in retail, transportation, automotive, healthcare, hospitality, consumer electronics, banking, financial services, and insurance (BFSI) sectors.
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Near Field Communication (NFC) Market Trends:
The global near-field communication (NFC) market is primarily being driven by the increasing product utilization in contactless payment and information systems. In line with this, the rising practice of social distancing to minimize human contact due to the advent of COVID-19 disease has increased the adoption of intelligent payment solutions like cashless or contactless payments, which is propelling the market growth. Additionally, the integration of machine learning (ML) with NFC in retail marketing to enhance engagement and personalized shopping experience by providing detailed information about products and services, offering demos, and addressing queries are providing an impetus to the market growth. Furthermore, the increasing demand for smartphones enabled with NFC technology that allows consumers to make easier and faster mobile transactions is acting as another growth-inducing factor. Moreover, the introduction of NFC-enabled smart posters, boarding passes, and sensors is creating a positive outlook for the market. Other factors, including the integration of the Internet of Things (IoT) with NFC-compatible smart wearables, the implementation of various government initiatives promoting a cashless economy, and extensive research and development (R&D) activities, are anticipated to drive the market toward growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global near field communication (NFC) market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on offering, operating mode and end user.
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
Breakup by Region:
- 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
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Units | US$ Billion |
| Segment Coverage | Offering, Operating Mode, End User, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered | 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 |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global Near Field Communication (NFC) market was valued at US$ 24.0 Billion in 2023.
We expect the global Near Field Communication (NFC) market to exhibit a CAGR of 6.1% during 2024-2032.
The rising demand for Near Field Communication (NFC) technology across various industries, including retail, transportation, healthcare, automotive, etc., as it provides enhanced convenience and versatility, is primarily driving the global Near Field Communication (NFC) market.
The sudden outbreak of the COVID-19 pandemic has led to the growing deployment of Near Field Communication (NFC) technology, owing to the widespread adoption of cashless or contactless payment methods for conducting financial transactions with minimal human interaction to mitigate the risk of the coronavirus infection.
Based on the offering, the global Near Field Communication (NFC) market can be segmented into non-auxiliary products, auxiliary products, and software. Currently, non-auxiliary products, including NFC readers hold the majority of the total market share.
Based on the operating mode, the global Near Field Communication (NFC) market has been divided into read and write mode, peer-to-peer mode, and card emulation mode. Among these, peer-to-peer mode currently exhibits a clear dominance in the market.
Based on the end user, the global Near Field Communication (NFC) market can be categorized into retail, transportation, automotive, residential and commercial, medical and healthcare, consumer electronics, banking and finance, hospitality, and others. Currently, the consumer electronics industry accounts for the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global Near Field Communication (NFC) market include 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.
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