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

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

According to our LPI (LP Information) latest study, the global Near Field Communications (NFC) market size was valued at US$ 24600 million in 2023. With growing demand in downstream market, the Near Field Communications (NFC) 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 Communications (NFC) market. Near Field Communications (NFC) 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 Communications (NFC). 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 Communications (NFC) market.

NFC is a short-range, low-power communications protocol between two devices. One device, the initiator, uses magnetic induction to create a radio-wave field that the target can detect and access, allowing small amounts of data to be transferred wirelessly over a relatively short distance. NFC is now gaining traction in the healthcare industry, and has caught the eye of various medical device manufacturers for use in their products.

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 Communications (NFC) 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 Communications (NFC) market. It may include historical data, market segmentation by Type (e.g., PC & laptop, Smartphone & Tablet), and regional breakdowns.

Market Drivers and Challenges: The report can identify and analyse the factors driving the growth of the Near Field Communications (NFC) 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 Communications (NFC) 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 Communications (NFC) industry. This include advancements in Near Field Communications (NFC) technology, Near Field Communications (NFC) new entrants, Near Field Communications (NFC) new investment, and other innovations that are shaping the future of Near Field Communications (NFC).

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

Government Policies and Incentives: The research report analyse the impact of government policies and incentives on the Near Field Communications (NFC) market. This may include an assessment of regulatory frameworks, subsidies, tax incentives, and other measures aimed at promoting Near Field Communications (NFC) 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 Communications (NFC) market.

Market Forecasts and Future Outlook: Based on the analysis conducted, the research report provide market forecasts and outlook for the Near Field Communications (NFC) 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 Communications (NFC) market.

Market Segmentation:

Near Field Communications (NFC) 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
PC & laptop
Smartphone & Tablet
Others

Segmentation by application
Banking & Finance
Retail
Automotive
Transportation
Medical & Healthcare
Residential & Commercial
Consumer Electronics
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.
Broadcom
DeviceFidelity
Gemalto
Huawei Technologies
Identive
Infineon Technologies
Inside Secure
Mediatek
NXP Semiconductors
On Track Innovations(OTI)
Renesas Electronics
Samsung Electronics
Stmicroelectronics
Texas Instruments
Toshiba

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