Near Field Communication Enabled Handsets

Near Field Communication Enabled Handsets

Global Near Field Communication Enabled Handsets Market to Reach 6.1 Billion Units by 2030

The global market for Near Field Communication Enabled Handsets estimated at 2.0 Billion Units in the year 2023, is expected to reach 6.1 Billion Units by 2030, growing at a CAGR of 17.0% over the analysis period 2023-2030.

The U.S. Market is Estimated at 542.0 Million Units While China is Forecast to Grow at 22.7% CAGR

The Near Field Communication Enabled Handsets market in the U.S. is estimated at 542.0 Million Units in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of 1.5 Billion Units by the year 2030 trailing a CAGR of 22.7% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 12.5% and 14.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 13.4% CAGR.

Global Near Field Communication Enabled Handsets Market - Key Trends and Drivers Summarized

Near Field Communication (NFC) technology, evolving from Radio Frequency Identification (RFID) roots, has become a staple in modern mobile devices, revolutionizing how transactions and digital interactions occur across numerous industries. NFC enables devices, such as smartphones and payment terminals, to communicate when placed in close proximity, streamlining processes in personal banking, shopping, and daily digital interactions. This technology`s growing integration into mobile handsets underscores its pivotal role in the digital age, making transactions not only faster but also more secure and convenient for users.

NFC`s standout attribute is its robust security framework, which is crucial for mobile payments. By employing dynamic encryption, each NFC transaction is uniquely secure, making payment details hard to intercept or duplicate. Technologies like Apple Pay enhance this security through tokenization, where actual bank details are replaced with randomly generated numbers to ensure sensitive data is neither stored on the device nor shared during transactions. Moreover, transactions require user authentication (e.g., fingerprint or facial recognition), adding an extra layer of security. NFC is also favorably compared to EMV (Europay, MasterCard, and Visa) technologies, known for secure chip card payments. Unlike EMV, which requires inserting a card into a reader, NFC enables contactless interactions by merely tapping a device over an NFC-enabled terminal, offering a faster and equally secure alternative suitable for high-traffic retail settings.

The proliferation of NFC technology is driven by its integration into user-friendly platforms like Android and iOS, each supporting NFC with varying degrees of functionality. Android has embraced NFC since version 2.3.3, supporting multiple NFC modes essential for modern mobile commerce, such as peer-to-peer sharing and card emulation. Conversely, iOS introduced NFC functionality with more restrictions in iOS 11, limiting operations to reading pre-formatted data and excluding features like writing to NFC tags or performing card emulation, which Android supports. The broader adoption of NFC is fueled by its convenience in mobile payments, enhanced user experience through simple device interactions, and a growing demand for contactless operations, particularly highlighted during the COVID-19 pandemic. Beyond consumer electronics, NFC`s applications extend to healthcare, smart home technology, logistics, gaming, and automotive industries, demonstrating its versatility and increasing importance in a connected, digital-first world.

 

 

 

 

 

 

Select Competitors (Total 43 Featured) -

• Blackberry Limited
• Broadcom Corp.
• HTC Corporation
• Huawei Technologies Co. Ltd.
• Infineon Technologies AG
• Lenovo
• LG Electronics
• Nokia Corporation
• NXP Semiconductors NV
• Samsung Electronics Co., Ltd.
• Sony Mobile Communications Inc.
• STMicroelectronics NV
• ZTE Corporation

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