The report "NFC Market with COVID-19 impact by Device operating mode (Reader emulation, Peer-To-Peer, and Card Emulation), Offering (Non-Auxiliary products, Auxiliary products, and Softwares), Application, and Region - Global Forecast to 2025", is expected to grow from USD 18.0 billion in 2020 to USD 34.9 billion by 2025, at a CAGR of 14.2%. The major factors driving the growth of the NFC market are the increasing trend of mobile commerce and the growing adoption of wearable technology. However, the issue of short-range communication is expected to restrain the growth of the market.
Browse 133 market data Tables and 53 Figures spread through 184 Pages and in-depth TOC on "NFC Market with COVID-19 impact by Device operating mode (Reader emulation, Peer-To-Peer, and Card Emulation), Offering (Non-Auxiliary products, Auxiliary products, and Softwares), Application, and Region - Global Forecast to 2025"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/near-field-communication-nfc-market-520.html
Reader emulation is attributed to hold the largest share of the NFC market
The market for reader emulation is projected to witness highest growth in the NFC market for the forecast period, as the majority of mobile phone and retail applications use NFC chip in reader emulation mode. There is high adoption of NFC-based mobile wallets, such as Goggle pay, Samsung pay, Apple Pay, and Android Pay, which are expected to witness the highest CAGR in the coming years, owing to the high demand originating from payments.
Software to witness the highest growth in NFC market in coming years
The software segment is expected to witness the highest growth in the NFC market in the coming years owing to the integration of its functionalities into routers, infotainment systems, wearable electronic devices, and other NFC-enabled devices. Additionally, more innovative software applications are expected to be launched in the coming years.
Consumer electronics accounted for a major share of the overall NFC market
Consumer electronics is the largest application industry for NFC and accounted for a major share of the overall NFC market with the commercialization of the technology in smartphones, media tablets, smart TVs, set-top boxes, and gaming consoles. There has been an increase in the production of NFC-based interfaces, which enable users to control devices using this short-range communication technology.
APAC to witness highest CAGR of NFC market during the forecast period
The NFC market in APAC is foreseen to grow at a significant rate. The growth of the NFC market in APAC is mainly driven by increasing developments (such as R&D activities, investments, and partnerships among companies) related to NFC in countries such as Japan, China, and South Korea. Additionally, it has some of the world’s fastest-growing and leading industrialized economies. It is witnessing dynamic changes in the adoption of new technologies and advancements in organizations across industries.
Key Market Players
The NFC market was dominated by NXP Semiconductors (The Netherlands), Broadcom (US), Qualcomm (US), Texas Instruments (US), and STMicroelectronics (Switzerland).
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441