Secunderabad Chronicle

Near Field Communication (NFC) Market Size US$ 36.6 Billion by 2028 With Growth Rate (CAGR) 7.03% | IMARC Group

 Breaking News
  • No posts were found

Near Field Communication (NFC) Market Size US$ 36.6 Billion by 2028 With Growth Rate (CAGR) 7.03% | IMARC Group

May 01
20:32 2023
Near Field Communication (NFC) Market Size US$ 36.6 Billion by 2028 With Growth Rate (CAGR) 7.03% | IMARC Group
Near Field Communication (NFC) Market Report 2023-2028
Global near field communication (NFC) market based on offering, operating mode and end user

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.

What is Near Field Communication (NFC)?

Near field communication (NFC) represents a short-range wireless technology that enables two devices to communicate using a low-power protocol. Some of the common product types include NFC integrated circuits (ICs), NFC tags, NFC SIM cards, NFC readers, and others. These NFC systems facilitate faster payment transactions, ensure convenience, provide versatility, and offer seamless communication between devices. They prove instrumental in marketing, ticketing, making payments, ticketing, and gaming applications in smartphones, laptops, tablets, wearables, cameras, and printers. As a result, NFC solutions find widespread utilization across numerous sectors, such as retail, healthcare, automotive, banking, hospitality, consumer electronics, etc.

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

The escalating need for intelligent and digital payment solutions and the increasing product usage in contactless payment and information systems are among the key factors driving the near field communication (NFC) market. Moreover, the growing integration of machine learning (ML) with NFC in retail marketing for enhancing engagement and personalized shopping experience by offering detailed information about products and services, presenting demos, and addressing queries is acting as another significant growth-inducing factor.

Request a PDF Sample Copy for More Detailed Market Insights:

Besides this, the rising demand for smartphones incorporated with NFC technology that allows consumers to make easier and faster mobile transactions is also positively influencing the global market. Additionally, the introduction of NFC-enabled smart posters, sensors, and boarding passes, the elevating integration of the internet of things (IoT) technology with NFC-compatible smart wearables, and the launch of various policies by government bodies, especially in developing countries, aimed at promoting a cashless economy are expected to bolster the near field communication (NFC) market over the forecasted period.

Report Segmentation:

The report has been segmented the market into following categories:

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)
  • 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:

  • Avery Dennison Corporation[NYSE: AVY]
  • Broadcom Inc.[ NASDAQ: AVGO]
  • Hid Global Corporation (Assa Abloy AB)
  • Identiv Inc.[ NASDAQ: INVE]
  • Infineon Technologies AG
  • Magtek Inc.
  • NXP Semiconductors N.V.
  • Samsung Electronics Co. Ltd.[ KRX: 005930]
  • Sony Group Corporation [TYO: 6758]
  • STMicroelectronics [EPA: STMPA]
  • Texas Instruments Incorporated [NASDAQ: TXN]
  • and Thales Group.[ EPA: HO]


Click Here to View Detailed Information with Table of Content:


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 More Industry Research Report-

Managed Services Market Report-

Mixed Reality Market Report-

Top Motor Insurance Companies-


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.

Media Contact
Company Name: IMARC Group
Contact Person: Elena Anderson
Email: Send Email
Phone: +1-631-791-1145
Address:134 N 4th St.
City: Brooklyn
State: NY
Country: United States