The report has segmented the global near field communication (NFC) market on the basis of offering, operating mode and end user.

SHERIDAN, NEW YORK, USA, April 13, 2023 /EINPresswire.com/ -- The latest research study “𝐍𝐞𝐚𝐫 𝐅𝐢𝐞𝐥𝐝 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧 (𝐍𝐅𝐂) 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐆𝐥𝐨𝐛𝐚𝐥 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐓𝐫𝐞𝐧𝐝𝐬, 𝐒𝐡𝐚𝐫𝐞, 𝐒𝐢𝐳𝐞, 𝐆𝐫𝐨𝐰𝐭𝐡, 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐲 𝐚𝐧𝐝 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭 2023-2028” by IMARC Group, finds that the global near field communication (NFC) market size reached US$ 22.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 36.6 Billion by 2028, exhibiting a CAGR of 7.03% during 2023-2028.

Near-field communication (NFC) represents a short-range wireless technology that allows two devices to communicate using a low-power protocol. Some commonly used NFC devices are tags, integrated circuits (ICs), SIM cards, and readers. It is widely utilized for marketing, making payments, ticketing, and gaming applications in smartphones, tablets, laptops, wearables, cameras, printers, etc. NFC allows faster payment transactions and offers convenience, versatility, and seamless communication between devices. Consequently, it is extensively adopted in retail, transportation, automotive, healthcare, hospitality, consumer electronics, banking, financial services and insurance (BFSI) sectors.

What Are The Key Factors Driving The Global Near Field Communication (NFC) Market?

The escalating demand for NFC in contactless payment and information systems is among the key factors stimulating the near field communication (NFC) market. Moreover, the increasing 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, such as cashless or contactless payments, which is acting as another significant growth-inducing factor. Besides this, the rising 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 is positively influencing the global market.

Furthermore, the elevating demand for smartphones enabled with NFC technology that allows consumers to make easier and faster mobile transactions is also propelling the market growth. Apart from this, the introduction of NFC-enabled smart posters, boarding passes, and sensors is further fueling the global market. Additionally, the inflating integration of the Internet of Things (IoT) with NFC-compatible wearables, the launch of various government initiatives promoting a cashless economy, and extensive R&D activities are anticipated to fuel the near field communication (NFC) market over the forecasted period.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐅𝐨𝐫 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.imarcgroup.com/near-field-communication-market/requestsample

Report Segmentation:

The report has been segmented the market into following categories:

Breakup by Offering:

• Non-Auxiliary Products
o NFC ICS and Antennas
o NFC Tags
o NFC Readers
• Auxiliary Products
o NFC Micro Sd Cards
o NFC SIM/UICC Cards
o 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)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Competitive Scenario with Key Players:

• 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.

𝐂𝐥𝐢𝐜𝐤 𝐇𝐞𝐫𝐞 𝐭𝐨 𝐕𝐢𝐞𝐰 𝐃𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐈𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 𝐰𝐢𝐭𝐡 𝐓𝐚𝐛𝐥𝐞 𝐨𝐟 𝐂𝐨𝐧𝐭𝐞𝐧𝐭: https://www.imarcgroup.com/near-field-communication-market

Key Highlights of The Report:

• Market Performance (2017-2022)
• Market Outlook (2023- 2028)
• 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.

𝐁𝐫𝐨𝐰𝐬𝐞 𝐎𝐭𝐡𝐞𝐫 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬-

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About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Elena Anderson
IMARC Services Private Limited
+1 631-791-1145
email us here

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