Global Near Field Communication Market Growth (Status and Outlook) 2024-2030

Global Near Field Communication Market Growth (Status and Outlook) 2024-2030

According to our LPI (LP Information) latest study, the global Near Field Communication market size was valued at US$ 24600 million in 2023. With growing demand in downstream market, the Near Field Communication is forecast to a readjusted size of US$ 47800 million by 2030 with a CAGR of 10.0% during review period.

The research report highlights the growth potential of the global Near Field Communication market. Near Field Communication are expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimization remain crucial for the widespread adoption of Near Field Communication. Market players need to invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalize on the immense opportunities presented by the Near Field Communication market.

Near-field communication also known as near-field wireless communication, is a short-range, high-frequency wireless communication technology that allows non-contact point-to-point data transmission and exchange of data between electronic devices.

The Global Mobile Economy Development Report 2023 released by GSMA Intelligence pointed out that by the end of 2022, the number of global mobile users would exceed 5.4 billion. The mobile ecosystem supports 16 million jobs directly and 12 million jobs indirectly.

According to our Communications Research Centre, in 2022, the global communication equipment was valued at US$ 100 billion. The U.S. and China are powerhouses in the manufacture of communications equipment. According to data from the Ministry of Industry and Information Technology of China, the cumulative revenue of telecommunications services in 2022 was ¥1.58 trillion, an increase of 8% over the previous year. The total amount of telecommunications business calculated at the price of the previous year reached ¥1.75 trillion, a year-on-year increase of 21.3%. In the same year, the fixed Internet broadband access business revenue was ¥240.2 billion, an increase of 7.1% over the previous year, and its proportion in the telecommunications business revenue decreased from 15.3% in the previous year to 15.2%, driving the telecommunications business revenue to increase by 1.1 percentage points.

Key Features:

The report on Near Field Communication market reflects various aspects and provide valuable insights into the industry.

Market Size and Growth: The research report provide an overview of the current size and growth of the Near Field Communication market. It may include historical data, market segmentation by Type (e.g., Card Emulation, Reader Emulation), and regional breakdowns.

Market Drivers and Challenges: The report can identify and analyse the factors driving the growth of the Near Field Communication market, such as government regulations, environmental concerns, technological advancements, and changing consumer preferences. It can also highlight the challenges faced by the industry, including infrastructure limitations, range anxiety, and high upfront costs.

Competitive Landscape: The research report provides analysis of the competitive landscape within the Near Field Communication market. It includes profiles of key players, their market share, strategies, and product offerings. The report can also highlight emerging players and their potential impact on the market.

Technological Developments: The research report can delve into the latest technological developments in the Near Field Communication industry. This include advancements in Near Field Communication technology, Near Field Communication new entrants, Near Field Communication new investment, and other innovations that are shaping the future of Near Field Communication.

Downstream Procumbent Preference: The report can shed light on customer procumbent behaviour and adoption trends in the Near Field Communication market. It includes factors influencing customer ' purchasing decisions, preferences for Near Field Communication product.

Government Policies and Incentives: The research report analyse the impact of government policies and incentives on the Near Field Communication market. This may include an assessment of regulatory frameworks, subsidies, tax incentives, and other measures aimed at promoting Near Field Communication market. The report also evaluates the effectiveness of these policies in driving market growth.

Environmental Impact and Sustainability: The research report assess the environmental impact and sustainability aspects of the Near Field Communication market.

Market Forecasts and Future Outlook: Based on the analysis conducted, the research report provide market forecasts and outlook for the Near Field Communication industry. This includes projections of market size, growth rates, regional trends, and predictions on technological advancements and policy developments.

Recommendations and Opportunities: The report conclude with recommendations for industry stakeholders, policymakers, and investors. It highlights potential opportunities for market players to capitalize on emerging trends, overcome challenges, and contribute to the growth and development of the Near Field Communication market.

Market Segmentation:

Near Field Communication market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of value.

Segmentation by type
Card Emulation
Reader Emulation
Peer-to-peer

Segmentation by application
Retail
Transportation
Automotive
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
NXP Semiconductors
Broadcom
Stmicroelectronics
Mediatek
Gemalto
Huawei Technologies
Inside Secure
Samsung Electronics
Texas Instruments

Please note: The report will take approximately 2 business days to prepare and deliver.