One of the significant factors contributing to the growth of the NFC market is the rising demand for contactless payment solutions. NFC-enabled payment systems, such as mobile wallets and contactless payment cards, offer convenience, speed, and enhanced security, thereby revolutionizing the way consumers make transactions. The COVID-19 pandemic further accelerated the adoption of contactless payments, as consumers became more conscious of minimizing physical contact.
The retail industry has been a major driver for NFC technology, with retailers leveraging its capabilities to enhance customer engagement and streamline operations. NFC tags and smart labels enable retailers to provide interactive product information, personalized offers, and seamless checkout experiences. Additionally, NFC technology finds applications in transportation, healthcare, automotive, and consumer electronics sectors, further fueling market growth.
In terms of market competition, several key players dominate the global Near Field Communication Market. Companies such as Samsung Electronics, Sony Corporation, NXP Semiconductors, and Gemalto N.V. are at the forefront of NFC technology development. These players invest heavily in research and development activities to introduce advanced NFC-enabled products and expand their market presence.
The global NFC market is experiencing steady growth, driven by the increasing adoption of contactless payments and the demand for convenient data sharing solutions. While challenges related to compatibility and universal acceptance persist, advancements in technology and collaborative efforts within the industry are addressing these issues. With the integration of NFC into various devices and the expanding application areas, the future of the NFC market looks promising, offering significant opportunities for both established players and new entrants in the market.
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Near Field Communication Market report published by Value Market Research, which studies the future outlook of the market.
It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2019-2027.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the Near Field Communication include NXP Semiconductors, Sony, Qualcomm, Texas Instruments, Broadcom, STMicroelectronics, Huawei Technologies Co., Ltd, Infineon Technologies, Thales Group, ams, Flomio, Identive, MagTek, HID Global, Avery Dennison..
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Near Field Communication Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/near-field-communication-market/download-sampleMarket SegmentationThe broad Near Field Communication has been sub-grouped into the Product Type, Application and Region.
The report studies these subsets with respect to the geographical segmentation.
The strategists can gain a detailed insight and devise appropriate strategies to target specific market.
This technology suits best for payments and money transfer between two devices, collecting and transferring information etc.
The devices have to be kept in proximity to experience a smooth and quick data transfer.
This kind of data transfer not only takes place between two NFC enabled devices but also between two NFC enabled chips.
The NFC chip operates as one part of the wireless link and as soon as one chip connects with other the data transfer takes place.
NFC chips come installed inside credit cards for contactless payments.
This essentially requires adding NFC permissions to our application parse data from an NFC tag, create NDEF message parser, creating a user interface and writing Java code for NFC reader app.
Moreover, this market report also covers regional and country markets in detail.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the near field communication (nfc) chips market include Murata Manufacturing Co. Ltd, EM Microelectronic-Marin S.A., Marvell Technology Group Ltd, STMicroelectronics N.V., MediaTek Inc, Toshiba Corporation, Inside Secure S.A., Samsung Semiconductor Inc, NXP Semiconductors N.V., Broadcom Corporation.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Near Field Communication (NFC) Chips Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/near-field-communication-nfc-chips-market/download-sampleMarket DynamicsThe global near-field communication (NFC) chips market is estimated to proliferate at a lucrative rate during the forecast period.
The increasing trend of mobile commerce and the growing adoption of wearable & portable technology is steering the global near field communication (NFC) chips market.
Increasing urbanization in emerging economies, growing online and in-store payment, increasing penetration of contactless technology, and increasing need for connectivity between different devices are anticipated to propel the global near field communication (NFC) chips market.
However, lack of awareness about the benefits of NFC, issue of short-range communication, security concerns, and competition from alternative payment methods is limiting the market growth.The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis.
The report "NFC Market with COVID-19 impact by Device operating mode (Reader emulation, Peer-To-Peer, and Card Emulation), Offering (Non-Auxiliary products, Auxiliary products, and Softwares), Application, and Region - Global Forecast to 2025", is expected to grow from USD 18.0 billion in 2020 to USD 34.9 billion by 2025, at a CAGR of 14.2%.
Browse 133 market data Tables and 53 Figures spread through 184 Pages and in-depth TOC on "NFC Market with COVID-19 impact by Device operating mode (Reader emulation, Peer-To-Peer, and Card Emulation), Offering (Non-Auxiliary products, Auxiliary products, and Softwares), Application, and Region - Global Forecast to 2025" Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=520 Reader emulation is attributed to hold the largest share of the NFC market The market for reader emulation is projected to witness highest growth in the NFC market for the forecast period, as the majority of mobile phone and retail applications use NFC chip in reader emulation mode.
There is high adoption of NFC-based mobile wallets, such as Goggle pay, Samsung pay, Apple Pay, and Android Pay, which are expected to witness the highest CAGR in the coming years, owing to the high demand originating from payments.
Consumer electronics accounted for a major share of the overall NFC market Consumer electronics is the largest application industry for NFC and accounted for a major share of the overall NFC market with the commercialization of the technology in smartphones, media tablets, smart TVs, set-top boxes, and gaming consoles.
The growth of the NFC market in APAC is mainly driven by increasing developments (such as R activities, investments, and partnerships among companies) related to NFC in countries such as Japan, China, and South Korea.
Additionally, it has some of the world’s fastest-growing and leading industrialized economies.
