Global NFC Systems Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global NFC Systems Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Market Overview:

The latest research study on the global NFC Systems market finds that the global NFC Systems market reached a value of USD 5135.13 million in 2022. It’s expected that the market will achieve USD 18634.7 million by 2028, exhibiting a CAGR of 23.96% during the forecast period.

Market Opportunities

On the one hand, Apple Pay uses near field communication technology. According to relevant data, the number of Apple Pay users at the end of 2018 exceeded 252 million, which is much higher than the 62 million at the end of 2016. There are currently more than 900 million active iPhones worldwide, of which 31% are using Apple Pay, a significant increase from 8% in 2016. And Apple Pay is accelerating its popularity outside the United States, with 85% of users coming from overseas, which has also strengthened the application of NFC. On the other hand, many mid- to high-end models of other mobile phone manufacturers have already included NFC functionality as standard, and NFC mobile phones will become more and more popular. This development trend has brought huge opportunities for the development of the NFC market.
With the crazy development of mobile payment, the importance of payment security will become increasingly prominent. In recent years, policies have also issued more laws and regulations on mobile payment security, emphasizing the classification of payment security levels and security certification. Compared with soft and secure QR code payment, hardware-level NFC payment has a natural advantage in terms of security. This will also bring opportunities to its market development.

Region Overview:

From 2023-2028, Europe is estimated to witness robust growth prospects.

Company Overview:

The top three companies are NXP Semiconductors, STMicroelectronics, Samsung Electronics with the revenue market share of 15.04%, 14.26%, 8.16% in 2018.

NXP Semiconductors NV operates as a global semiconductor company. The Company designs semiconductors and software for mobile communications, consumer electronics, security applications, in-car entertainment, and networking. NXP offers its products to the automotive, identification, wireless infrastructure, lighting, mobile, and computing applications.

STMicroelectronics Inc. operates in the electronic industry. The Company provides manufacturing services for electronics products including semiconductors, multimedia products, power applications, and sensors. STMicroelectronics operates and distributes products throughout the world.

Segmentation Overview:

Among different product types, NFC Chips segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Retail Industry segment occupied the biggest share from 2018 to 2022.

Key Companies in the global NFC Systems market covered in Chapter 3:

Texas Instruments
Sony
Others
NXP Semiconductors
Smartrac
Renesas Electronics
Broadcom
STMicroelectronics
Samsung Electronics
Vermatrix

In Chapter 4 and Chapter 14.2, on the basis of types, the NFC Systems market from 2018 to 2029 is primarily split into:

NFC Readers
NFC Chips
NFC Tags

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the NFC Systems market from 2018 to 2029 covers:

Retail Industry
Automotive Industry
Transportation Industry

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)