Bottom Article Ad

Sunday, February 13, 2022

Global NFC Market to be Driven by the Rapid Technological Advancements in the Forecast Period of 2022-2027


The new report by Expert Market Research titled, ‘Global NFC Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global NFC market, assessing the market based on its segments like product, applications and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

Get a Free Sample Report with Table of Contents:

The key highlights of the report include:

Market Overview (2017-2027)

  • Historical Market Size (2021): USD 17.1 billion
  • Forecast CAGR (2022-2027): 4%
  • Forecast Market Size (2027): USD 76.7 billion

The NFC market is being driven by the rising trend for mobile commerce. In applications, using NFC on a smartphone to make payments and other transactions is highly easy. It has a wide range of applications in a variety of fields, including banking, reservations, and ticketing. Meanwhile, the rising application of the product in medical sector as it helps to keep track of patient’s medical records. Companies unveiled innovative solutions for the healthcare field, such as wearable NFC tags. The automatic time stamps that help capture patient activities and allow easy maintenance and update of patient records in the healthcare and medical sector serve to improve patient care. During pandemic, NFC has helped to greater extent in smoother and cashless transactions. The product is likely to witness great demand in the forecast period, buttressed by various IT companies.

Industry Definition and Major Segments

Near field communication, abbreviated as NFC, is a wireless technology with a short range. It enables compatible devices to communicate over relatively short distances. At least one transmitting and one receiving device are required to send the signal. The NFC standard can be used by a wide variety of devices, both passive and active. Tags and other small transmitters in passive devices can send data to other NFC devices without requiring their own power supply. These devices cannot process data from other sources and cannot communicate with other passive components. These gadgets are capable of both sending and receiving data in active devices. They are capable of communicating with both active and passive devices.

Read Full Report with Table of Contents:

The NFC market, on the basis of product, can be segmented into:

  • SD Cards
  • SIM Cards
  • NFC Covers
  • NFC ICs
  • NFC Tags
  • NFC Readers

On the basis of application, the market can be categorized into:

  • Access Control
  • Ticketing
  • Data Sharing
  • Medical Devices
  • Transaction
  • Product Identification
  • Others

The regional markets NFC include:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Market Trends

The rising demand for mobile commerce has been witness over a period now. NFC technology is now used by smartphone users to make payments. Furthermore, with technologies like NFC-enabled PoS systems, mobile devices have become an essential means of data transfer. Various financial institutions are working with mobile app developers to create apps that will allow customers to conduct business transactions. Moreover, the increasing efforts by the companies investing in NFC technology is the key trend bolstering the market growth in the forecast period.

Key Market Players

The major players in the market are Thales Group, Broadcom Inc., Infineon Technologies AG, Identitv, Inc., NXP Semiconductors N.V., and others. The

About Us:

Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally.

At Expert Market Research, we tailor our approach according to our clients’ needs and preferences, providing them with valuable, actionable and up-to-date insights into the market, thus, helping them realize their optimum growth potential. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical and Materials, Energy and Mining, Packaging and Agriculture.

Media Contact

Company Name: EMR Inc.
Contact Person:- Shira Ellis, Business Consultant
Toll Free Number: US +1-415-325-5166 | UK +44-702-402-5790
Address: 30 North Gould Street, Sheridan, WY 82801, USA
City: Sheridan
State: Wyoming
Country: United States

Read More Reports:

Global A2P Messaging Market Outlook:

Global Network Traffic Analyser Market Outlook:

Global WiGig Market Outlook:

Global Microserver Market Outlook:

Global Optical Network Terminal (ONT) Equipment Market Outlook:

Explore more on Procurement Intelligence services of EMR Inc.

**We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.


Post a Comment