Near Field Communication Industry - Research Study and Future Prospects 2022
Posted by Akash Sangshetti on March 3rd, 2020
Global Near Field Communication Industry - Overview
Near Field Communication (NFC) is a short-range wireless connectivity standard that uses magnetic field induction to enable communication between devices when they're touched together, or brought within a few centimetres of each other. Both businesses and individuals benefit from near field communication technology. By integrating credit cards, subway tickets, and paper coupons all into one device, a customer can board a train, pay for groceries, redeem coupons or store loyalty points, and even exchange contact information all with the wave of a smartphone. Faster transaction times mean less waiting in line and happier customers.
Due to growing adoption of near field communication technology in smartphones and similar devices the market for near field communication is growing rapidly. Due to its ease of use and accuracy, the demand for near field communication has increased in the recent past.
NFC offers better collaboration in corporate environments by ensuring speedy and secure sharing of documents, files, and confidential data. In case of payments, the card details of the consumer are stored on the mobile phone in a secure element. This takes the form of a Subscriber Identity Module, secured chips or a secure digital card and the fact that hardware encryption can be only used in close proximity to the point of sale makes it one of the most secure payments. This feature acts a major pull factor to attract new customers and users of NFC technology and technology-enabled devices. Owing to these factors, NFC market growth is likely to witness a positive impact over the forecast period.
The near field communication Industry is expected to reach USD 30 billion by the end of the forecast period at 17% CAGR.
Global Near Field Communication Industry - Segmentation
The Near Field Communication Industry can be segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;
Global Near Field Communication Market - Regional Analysis
North-America is dominating the global near field communication market with the largest market share and therefore accounting for astronomical amounts and is expected to grow over its previous growth records by 2022. Currently, Asia Pacific is the fastest growing region, contributing a large part of the total revenue in the near field communication market. Adoption of NFC technology in smartphones has increased in regions such as Australia, Japan, South Korea, and China. Heavy demand for smartphones and growing consumer electronics industry is giving fuel to the market. Increasing security proliferation in the BFSI industry is also driving the market of NFC.
Prominent players in the global near field communication market include NXP Semiconductors (Netherlands), Broadcom Corporation (US), SAMSUNG (South Korea), Intel Corporation (US), Qualcomm Inc. (US), ams AG (Austria), STMicroelectronics (Switzerland), Texas Instruments Incorporated (US), MStar Semiconductor, Inc. (Taiwan), Flomio, Inc. (US), among others.
Other players in the market includes Blue Bite LLC, HID Global Corporation, Cellotape Smart Products, Advanced Card Systems Holdings Limited, Thinfilm, Smartwhere, LLC., SMARTRAC N.V., among others
TABLE OF CONTENTS
LIST OF FIGURES
FIGURE 1 Global Near Field Communication Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of Global Near Field Communication Market
FIGURE 4 Value Chain Of Global Near Field Communication Market
FIGURE 5 Share Of Global Near Field Communication Market In 2017, By Country (In %)
FIGURE 6 Global Near Field Communication Market, 2018–2023
FIGURE 7 Sub-Segments Of Type
FIGURE 8 Global Near Field Communication Market Size, By Type, 2017
FIGURE 9 Share Of Global Near Field Communication Market, By Type, 2018 To 2023
FIGURE 10 Global Near Field Communication Market Size, By Device, 2017
FIGURE 11 Share Of Global Near Field Communication Market, By Device, 2018 To 2023
FIGURE 12 Global Near Field Communication Market Size, By Application, 2018 To 2023
FIGURE 13 Share Of Global Near Field Communication Market, By Application, 2018 To 2023
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About the AuthorAkash Sangshetti
Joined: October 1st, 2019
Articles Posted: 322
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