Near Field Communication Market

Near Field Communication Market include NXP Semiconductors, Broadcom, Qualcomm, Texas Instruments, STMicroelectronics

LUTON, BEDFORDSHIRE, UNITED KINGDOM, March 5, 2024 /EINPresswire.com/ -- The Near Field Communication Market report thoroughly examines the present condition of the market and provides an insightful analysis of its future prospects. It encompasses projections for market size, growth rate, industry trends and segmentation, along with an assessment of potential drivers or constraints that may influence the market's trajectory. These predictions are formulated by considering a range of factors, including economic indicators, industry share, and historical data. By leveraging this outlook, businesses can identify promising growth opportunities and potential risks within the industry.

The global near-field communication market is expected to grow at 13.0 % CAGR from 2024 to 2030. It is expected to reach above USD 131.8 billion by 2030 from USD 11.2 billion in 2023.

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Key companies profiled in Near Field Communication market: NXP Semiconductors, Broadcom, Qualcomm, Texas Instruments, STMicroelectronics, Thales Group, Infineon Technologies, Sony, ams, Flomio, Identive, HID Global, MagTek, Avery Dennison. and other.

Recent Developments:

NXP Semiconductors, Mastercard, and Xiaomi Inc. announced in June 2020 that they are bringing more useful and secure contactless experiences to Russia as part of a rollout of NXP’s mobile wallet solution across all of Europe. By meeting OEMs’ need for straightforward yet secure and scalable wallet solutions, NXP’s mWallet 2GO enables an accelerated roll-out across Europe. Additionally, it complies with user requirements for quick payment device enablement and seamless NFC transactions at the Point-of-Sale by digitizing bank cards.

FeliCa Networks, Inc. and NXP Semiconductors collaborated in February 2019 to create the mobile payment and ticketing ecosystem as part of Japan’s preparation for upcoming international events. Smartphones and other mobile devices may now seamlessly bridge mobile payments in Japan and across borders, as well as incorporate mobile ticketing, access control, and loyalty programs thanks to NXP’s new Global Platform-based PN81 series solution. This solution supports and incorporates MIFARE for mobile transit, EMVCo, and FeliCa. The NXP PN81 series with FeliCa compatibility includes Near Field Communication (NFC), Embedded Secure Element (eSE) technology, and support for global security standards including Global Platform. Together, these qualities contribute to the promise of seamless, safe transaction and access use cases.

Our Free Sample Report Consists of the Following:

Introduction, Overview, and in-depth industry analysis are all included in the 2023 updated report.

Provide detailed chapter-by-chapter guidance on Request

Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2023

Includes Tables and figures have been updated

The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, Revenue Analysis, SWOT Analysis, Historic and Forecast Growth, Porter's 5 Forces Analysis

Near Field Communication Market Research Methodology

Dividing the Global Near Field Communication Market by Product types and Application

Near Field Communication Market by Device Operating Mode, 2020-2029, (USD Billion)

Reader Emulation

Peer-To-Peer

Card Emulation

Near Field Communication Market by Offering, 2020-2029, (USD Billion)

Non-Auxiliary Products

Auxiliary Products

Near Field Communication Market by Application, 2020-2029, (USD Billion)

Retail

Transportation

Automotive

Residential & Commercial

Medical & Healthcare

Consumer Electronics

Banking & Finance

Hospitality

Others

Regional Outlook of Global Near Field Communication Market

Asia Pacific accounted for the largest market in the Near field communication market. The region has a high population, which has led to increased adoption of NFC-enabled devices and contactless payment systems. The Asia-Pacific region has a high smartphone penetration rate, with many consumers using their smartphones for mobile payments and other NFC-enabled applications. Governments in the region have been promoting the adoption of NFC technology through various initiatives, including providing subsidies for NFC-enabled devices and offering incentives for merchants to accept contactless payments. Many of the world’s leading manufacturers of NFC-enabled devices are based in the Asia-Pacific region, which has led to a large number of such devices being available in the market. The region has a rapidly growing e-commerce industry, which has led to increased demand for NFC technology for secure and convenient online payments. All these factors have contributed to the growth of the NFC market in the Asia-Pacific region and are expected to continue driving its growth in the future.

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Report Features:

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

Market structure: Overview, industry life cycle analysis, supply chain analysis.

Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.

Market trend and forecast analysis.

Market segment trend and forecast.

Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.

Attractive market segments and associated growth opportunities.

Emerging trends.

Strategic growth opportunities for the existing and new players.

Key success factors.

Major Points from Table of Contents

– Market Summary

– Economic Impact Competition Analysis by Players

– Production, Revenue (Value) by geographical segmentation

– Near Field Communication Market Size by Type and Application

– Regional Market Status and outlook

– Near Field Communication Market Analysis and outlook

– Market Forecast by Region, Type, and Application

– Cost Investigation, Market Dynamics

– Marketing Strategy comprehension, Distributors and Traders

– Market Effect Factor Analysis

– Research Finding/ Conclusion

– Appendix

Finally, the Near Field Communication Market report is a believable source for gaining the market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request, market development rate, figure, and so on. Near Field Communication industry report additionally Presents new task SWOT examination, speculation attainability investigation, and venture return investigation.

Key questions answered in the report are:

1.What is the market's size?

2. What is the rate of market expansion?

3. Which market share-generating segment was it?

4. Who are the major businesses and participants in the market?

5. What are the Market's driving forces?

7. What is the market's dominant deployment segment?

8. Which business sector contributed the highest proportion of revenue to the market?

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