Near Field Communication Market, By Product Type (NFC Tags, NFC ICs/Chips, SIM Cards, NFC Readers, Others), By Operating Mode (Read/Write Mode, Peer-to-peer Mode, Card Emulation Mode), By End User (Retail, Transportation, Automotive, Residential & Commercial, Medical & Healthcare, Consumer Electronics, Banking & Finance, Hospitality, Others), By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2021 - 2028
Near field communication (NFC) is simply a set of transceivers that are used for communication between electronic equipment over a short to medium distance. A typical application of near-field communications would include vehicle navigation systems, allowing a car to communicate with a nearby vehicle or even with an orbiting satellite. In fact, some of the most popular smartphone applications now incorporate this technology into their devices to enable voice navigation, controls over braking and acceleration as well as making calls on the move. In addition, as mentioned above, many of today's most popular mobile devices, like the iPhone and Android, make use of this type of connectivity to allow users to make hands-free calls wherever they are.
Market Dynamics:
Launch of solutions that support NFC is expected to propel growth of the global near field communication market over the forecast period. For instance, in July 2019, GET Group North America, a developer of mobile ID technology, announced that its GET Mobile ID Digital Identity Solution for iOS can support NFC for identity transactions at Point of Sale (POS), airports, and even kiosks.
Major players in the global near field communication market are focused on adopting partnership and collaboration strategies to enhance their market share. For instance, in February 2019, Broadcom Inc. announced that Barclays signed a strategic agreement as a Portfolio License Agreement (PLA) customer to help support a multi-year, cross-organizational initiative to streamline its IT operations, while reducing complexity and cost.
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