near field communication market share, nfc industry, near field communication market size, near field communication market trends, near field communication market analysis, near field communication market overview
What is the present valuation and projected CAGR of the near field communication market?
The near field communication market size has grown rapidly in recent years. It will grow from $30.47 billion in 2024 to $34.64 billion in 2025 at a compound annual growth rate (CAGR) of 13.7%. The growth in the historic period can be attributed to mobile device integration, contactless payment adoption, transportation ticketing solutions, smart access and security systems, marketing and advertising applications.
The near field communication market size is expected to see rapid growth in the next few years. It will grow to $59.06 billion in 2029 at a compound annual growth rate (CAGR) of 14.3%. The growth in the forecast period can be attributed to collaborative efforts in standards development, growth in retail and loyalty programs, security and access control innovations, healthcare records and wearable integration, expansion in transport and ticketing solutions. Major trends in the forecast period include biometric authentication integration, focus on smart packaging solutions, expansion in smart home applications, rise in health and wellness tracking, integration with public Market Research.
Get Your Free Sample of The Global Near Field Communication Market Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=13273&type=smp
What are the top drivers to the rising demand in the near field communication market?
The increased smartphone adoption is expected to propel the growth of the near-field communication market. Smartphone adoption refers to the rate or extent to which people acquire and use smartphones. It represents the %age of the population, or a specific group that owns and regularly uses smartphones as their primary mobile communication and computing devices. Near-field communication (NFC) technology is a short-range wireless technology that allows devices to communicate with each other nearby. NFC is used in smartphones for various purposes, including mobile payments, exchanging digital content, and connecting electronic devices. For instance, in May 2024, according to BankMyCell, a New York-based company that offers competitive prices for transactions 2024, there are 4.88 billion smartphone users globally, accounting for 60.42% of the population, a 14.9% increase from last year. The total number of active smartphones is around 7.21 billion, as some users own multiple devices. This is up from 4.25 billion users in 2023. Therefore, the increased smartphone adoption is driving the growth of the near-field communication market.
How is the near field communication market segmented?
The near field communication market covered in this report is segmented –
1) By Type: Non-Auxiliary, Auxiliary
2) By Operating Mode: Read And Write Mode, Peer-To-Peer Mode, Card Emulation Mode
3) By End-User: Cloud Service, Telecom Service, Enterprise
Subsegments:
1) By Non-Auxiliary: Peer-To-Peer Communication, Card Emulation Mode, Reader Or Writer Mode
2) By Auxiliary: NFC-Enabled Mobile Devices, NFC Tags, NFC-Enabled Wearable Devices, NFC Readers
Order your report now for swift delivery
https://www.thebusinessresearchcompany.com/report/near-field-communication-global-market-report
Who are the top competitors in the near field communication market?
Major companies operating in the near field communication market report are Google LLC, Samsung Electronics Corporation, Microsoft Corporation, At and T Inc., Verizon Communications Inc., Sony Group Corporation, T-Mobile US Inc., Qualcomm Technologies Inc., Toshiba Electronic Devices and Storage Corporation, Broadcom, Nokia Corporation, Royal Philips Electronics, Texas Instruments Incorporated, Thales Group, Media & EntertainmentTek Inc., Infineon Technologies, STmicroelectronics N.V., NXP Semiconductors N.V., Renesas Electronics Corporation, Avery Dennison, Motorola Solutions Inc., Omron Healthcare, Ams-OSRAM AG, HID Global, A and D Company Limited, Impak Health Nedap, Identive Group, MagTek Inc., Gentag Inc.
What significant trends should we anticipate in the near field communication market over the forecast period?
Major companies operating in the near-field communication (NFC) market are developing innovative products, such as NAC1080, to provide a cost-effective and easy-to-use platform for developing smart actuators. NAC1080 is a single-chip solution that integrates an H-bridge, energy harvesting module, NFC frontend, sensing unit, and motor driver. This makes it a very versatile and easy-to-use platform for developing smart actuators. For instance, in July 2022, Infineon Technologies AG, a Germany-based semiconductor manufacturer, introduced the NAC1080, a programmable 32-bit ARM Cortex-M0 microcontroller with an embedded near-field communication (NFC) frontend, allowing for the affordable creation of smart actuators like passive locks. It is a single-chip solution that integrates an H-bridge, energy harvesting module, NFC frontend, sensing unit, and motor driver. It serves as a highly flexible and user-friendly framework for creating smart actuators. Additionally, it has many security features, like a real random number generator, a protected section in a flash, and a 128-bit AES accelerator. Furthermore, it uses near-field communication, a wireless technique that enables data sharing between two devices while they are close.
Which regional trends are influencing the near field communication market, and which area dominates the industry?
North America was the largest region in the near field communication market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the near field communication market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
What Does The Near Field Communication Market Report 2025 Offer?
The near field communication market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Near-field communication refers to a short-range wireless communication technology that allows data exchange between devices when they are brought into close proximity, typically within a few centimeters. It is used for a wide range of applications and purposes due to its versatility, simplicity, and security.
Purchase the exclusive report now to unlock valuable market insights:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=13273
About The Business Research Company
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.
Our flagship product, the Global Market Model, is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
