Global NFC Systems Market 2023-2027
Technavio has been monitoring the NFC systems market and is forecast to grow by USD 21742.46 mn during 2022-2027, accelerating at a CAGR of 14.63% during the forecast period. Our report on the NFC systems market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increased adoption of contactless payments, integration of NFC technology in smartphones, and rising government initiatives for digital payments.
Technavio's NFC systems market is segmented as below:
By Application
- Retail
- Automotive
- Transportation
- Banking, finance and others
By Product
- NFC readers
- NFC chips
- NFC tags
- Others
By Geography
- North America
- APAC
- Europe
- South America
- Middle East and Africa
This study identifies the increasing M&A, partnerships, and collaborations as one of the prime reasons driving the NFC systems market growth during the next few years. Also, growing adoption of NFC equipped devices and increasing application of NFC in smart factories will lead to sizable demand in the market.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the NFC systems market covers the following areas:
- NFC systems market sizing
- NFC systems market forecast
- NFC systems market industry analysis
Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading NFC systems market vendors that include ASSA ABLOY AB, Avery Dennison Corp., Broadcom Inc., Intel Corp., KISI Inc., MagTek Inc., Murata Manufacturing Co. Ltd., Nordic Semiconductor ASA, NXP Semiconductors NV, Qualcomm Inc., Samsung Electronics Co. Ltd., Sony Group Corp., STMicroelectronics NV, Texas Instruments Inc., Thales Group, The Swatch Group Ltd., Zebra Technologies Corp., Zeus RFID, Renesas Electronics Corp., and Infineon Technologies AG. Also, the NFC systems market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.