Digitalization marks a significant milestone in evolution. With numerous technological advancements and consumers shifting to high-tech services, the near-field communication (NFC) market has skyrocketed in the past few years. The market is thus set to evolve remarkably, with a CAGR of 14.70% from 2024 to 2034.
The market is set to cover US$ 25,522.81 million valuation in 2024. The smart revolution of smartphones and payment methods has created a fascinating process of transactions. Analyzing these growing market trends, it can be stated that the valuation is on track to reach US$ 100,591.84 million by 2034.
| Attributes | Key Statistics |
|---|---|
| Expected Base Year Value (2024) | US$ 25,522.81 million |
| Anticipated Forecast Value (2034) | US$ 100,591.84 million |
| Estimated Growth (2024 to 2034) | 14.70% CAGR |
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NFC technology enables secure and fast transactions between devices. This is the most nascent feature that has acquired the worldwide market, as it is a convenient solution for consumers and businesses.
The COVID-19 pandemic has fast-tracked the adoption of digital payments. It has also resulted in a growing demand for contactless payments. These phenomena have led to increased popularity of NFC-enabled devices. This has covered the market with growth in no time, spreading broadly globally.
Data exchange between devices with near-field communication-enabled technology that is in close proximity makes it convenient for various applications. For instance, the use of NFC antennas in smart home devices like door locks, thermostats, and lighting systems is fueling the need for NFC-enabled devices in the market.
Various industries like healthcare, retail, and transportation have created lucrative growth opportunities for the NFC market. As this technology is smooth and enables fast workflow, making hands-free businesses, the adoption in varied sectors surges.
Near-field communication enables posters and billboards to provide users with add-on information and promotional offers by just tapping their NFC-enabled devices on them.
Principal Consultant
Auxiliary near-field communication has gained traction due to its ability to enhance the functionality of the devices. This expands their capabilities and provides additional functionalities. This is a widely adopted type with an accelerating market share of 53.70% in 2024.
| Attributes | Details |
|---|---|
| Product Type | Auxiliary |
| Market Share (2024) | 53.70% |
Implementation of NFC tags and stickers in advertising and promotional activities is also surging the requirement for auxiliary NFC. Increasing adoption of NFC technology in various industries like healthcare, retail, and transportation is expected to create lucrative growth opportunities for the auxiliary NFC types. Convenience, security, and ease of use have also raised the emerging opportunities for auxiliary products in the NFC market.
Access control and authentication are essential to ensure the security of data transfer. These are the most crucial factors chosen by consumers. Thus, the access control and authentication application is poised to capture a market share of 20.30% in 2024. It is expected to increase further with the adoption of NFC technology to prevent unauthorized access to sensitive information.
| Attributes | Details |
|---|---|
| Application | Access Control and Authentication |
| Market Share (2024) | 20.30% |
Access control and authentication are particularly crucial in industries like healthcare, where patient data needs to be protected from unauthorized access. With the rise of cyber threats, secure authentication mechanisms are critical to ensure the integrity of data transfer and prevent data breaches. Thus, NFC technology plays a vital role in different industries for access control and authentication.
Countries like China, the United States, Australia and New Zealand, Japan, and Germany are expanding broadly in the near field communication (NFC) market.
| Countries | CAGR from 2024 to 2034 |
|---|---|
| China | 16.80% |
| United States | 12.60% |
| Australia and New Zealand | 10.80% |
| Japan | 6.90% |
| Germany | 6.00% |
China is projected to be a highly lucrative communication technology market. Wireless technology has played a key role in expanding this market in China. With a remarkable CAGR of 16.80% through 2034, China is set to emerge as one of the prominent players in the global market.
Cashless payment continues to create deeper inroads in China. Businesses in emerging markets, such as China, are localizing content for mobile platforms to maximize their sales. Mobile penetration, along with improved data connectivity and payment infrastructure, is presenting a potential opportunity for the growth of NFC-enabled mobile payment.
Numerous innovative technology providers collaborate with payment solution providers to launch novel products integrated with NFC technologies. For instance, in 2021, Xiaomi, a China-based wearable device manufacturer, announced joining hands with MasterCard to develop and launch a new MI Smart Band 4 NFC with an advanced contactless payment feature.
The United States is anticipated to record an outstanding CAGR of 12.60% from 2024 to 2034, owing to its wide technological advancements and foreseeable investment in adopting new tech.
Growing penetration of smartphones and increasing adoption of smart cameras are teeming market growth. Surging trend of photography among millennials is favoring the demand for wireless data transfer technologies such as NFC in local market.
Sales of automotive vehicles, such as passenger and commercial vehicles, are significantly surging across the United States. This is creating a strong demand for associated technologies. For instance, according to the Bureau of Transportation Statistics, approximately 3.54 million units of passenger cars and 10.33 million units of commercial vehicles were reported to be sold across the United States alone.
NFC, though in a nascent stage in Australia and New Zealand, is catching up rapidly because of factors like cross-industrial applications, smartphone penetration, affordable devices, and cheap mobile internet data rates. With people adopting technology and an affluent consumer base, these countries have spurred the market with a CAGR of 10.80% through 2034.
High-speed internet and Wi-Fi have also added impetus to shopping through mobile devices. With the introduction of 5G, this trend is bound to pick up in the near future.
Revolution of credit and debit cards has played a leading role in shaping the technological advancements in NFC services. The tap-to-pay feature has gained significant fame in the industry's growth factors for NFC technology. For example, Sektor has been appointed as the distributor for iMin products in Australia and New Zealand.
Japan is always known for its high-tech advancements and has proven to have installed electronic payment systems two decades ago. With the most developed contactless infrastructure in the world and a tech-savvy consumer base, Japan has emerged as a big market for NFC-enabled technologies, likely to see a CAGR of 6.90% through 2034.
Cutting-edge technologies like artificial intelligence and cloud-based apps are the sole drivers of acquiring the global market. The Japan near-field communication market is also growing as more people in Japan use smartphones and high-tech technologies.
Japan has always been at the forefront of technological advancements and has implemented those ahead of other countries. A type of Near Field Communication (NFC) chip, known in Japan as FeliCa, was introduced to Japan’s mobile market in June 2004 and has been implanted in almost all phones sold in the country since.
The proliferation of NFC-enabled payment wearables has significantly impacted the anticipated support for European market expansion over the forecast period. With a CAGR of 6.00% through 2034, the German market is expected to experience steady growth.
Osram Licht AG is a German manufacturer of electric lighting with headquarters in Munich and Premstätten (Austria). Osram is a high-tech photonics company with a growing emphasis on sensor technologies, visualization, and light treatment.
In May 2021, Osram and Infineon Technologies AG joined forces to enable industry-wide Near Field Communication (NFC) programming. Infineon's NLM0011 and NLM0010 dual-mode NFC wireless configuration integrated circuits (ICs) with pulse width modulation are used in Osram's new OPTOTRONIC® FIT product family (PWM).
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Major companies offering near-field communication solutions are aiming for innovation in their offerings and strategic partnerships with other software vendors. This development enhances their portfolios while addressing the demand of an expanding customer base. Introduction of new solutions and services and strategic alliances are steps to cover the market development in the near field communication solution landscape.
Recent Advancements
The market is set to reach US$ 25,522.81 million in 2024.
The near-field communication (NFC) market is expected to reach US$ 100,591.84 million by 2034.
The market is set to develop at a CAGR of 14.70% from 2024 to 2034.
Auxiliary is the most common type, with a market share of 53.70% for 2024.
The market in China is expected to progress at a CAGR of 16.80% through 2034.
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Investment Feasibility Matrix 3.5. PESTLE and Porter’s Analysis 3.6. Regulatory Landscape 3.6.1. By Key Regions 3.6.2. By Key Countries 3.7. Regional Parent Market Outlook 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034 4.1. Historical Market Size Value (US$ Million) Analysis, 2019 to 2023 4.2. Current and Future Market Size Value (US$ Million) Projections, 2024 to 2034 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Product Type 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) Analysis By Product Type, 2019 to 2023 5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Product Type, 2024 to 2034 5.3.1. Non-Auxiliary Products 5.3.2. Auxiliary Products 5.4. Y-o-Y Growth Trend Analysis By Product Type, 2019 to 2023 5.5. Absolute $ Opportunity Analysis By Product Type, 2024 to 2034 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Application 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) Analysis By Application, 2019 to 2023 6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Application, 2024 to 2034 6.3.1. Contactless Payment 6.3.2. Data Sharing 6.3.3. Infotainment 6.3.4. Access Control and Authentication 6.3.5. Medical & Healthcare 6.3.6. Transportation 6.4. Y-o-Y Growth Trend Analysis By Application, 2019 to 2023 6.5. Absolute $ Opportunity Analysis By Application, 2024 to 2034 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 7.1. Introduction 7.2. Historical Market Size Value (US$ Million) Analysis By Region, 2019 to 2023 7.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2024 to 2034 7.3.1. North America 7.3.2. Latin America 7.3.3. Western Europe 7.3.4. Eastern Europe 7.3.5. South Asia and Pacific 7.3.6. East Asia 7.3.7. Middle East and Africa 7.4. Market Attractiveness Analysis By Region 8. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 8.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 8.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 8.2.1. By Country 8.2.1.1. USA 8.2.1.2. Canada 8.2.2. By Product Type 8.2.3. By Application 8.3. Market Attractiveness Analysis 8.3.1. By Country 8.3.2. By Product Type 8.3.3. By Application 8.4. Key Takeaways 9. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 9.2.1. By Country 9.2.1.1. Brazil 9.2.1.2. Mexico 9.2.1.3. Rest of Latin America 9.2.2. By Product Type 9.2.3. By Application 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Product Type 9.3.3. By Application 9.4. Key Takeaways 10. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 10.2.1. By Country 10.2.1.1. Germany 10.2.1.2. UK 10.2.1.3. France 10.2.1.4. Spain 10.2.1.5. Italy 10.2.1.6. Rest of Western Europe 10.2.2. By Product Type 10.2.3. By Application 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Product Type 10.3.3. By Application 10.4. Key Takeaways 11. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 11.2.1. By Country 11.2.1.1. Poland 11.2.1.2. Russia 11.2.1.3. Czech Republic 11.2.1.4. Romania 11.2.1.5. Rest of Eastern Europe 11.2.2. By Product Type 11.2.3. By Application 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Product Type 11.3.3. By Application 11.4. Key Takeaways 12. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 12.2.1. By Country 12.2.1.1. India 12.2.1.2. Bangladesh 12.2.1.3. Australia 12.2.1.4. New Zealand 12.2.1.5. Rest of South Asia and Pacific 12.2.2. By Product Type 12.2.3. By Application 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Product Type 12.3.3. By Application 12.4. Key Takeaways 13. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 13.2.1. By Country 13.2.1.1. China 13.2.1.2. Japan 13.2.1.3. South Korea 13.2.2. By Product Type 13.2.3. By Application 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Product Type 13.3.3. By Application 13.4. Key Takeaways 14. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 14.2.1. By Country 14.2.1.1. GCC Countries 14.2.1.2. South Africa 14.2.1.3. Israel 14.2.1.4. Rest of MEA 14.2.2. By Product Type 14.2.3. By Application 14.3. Market Attractiveness Analysis 14.3.1. By Country 14.3.2. By Product Type 14.3.3. By Application 14.4. Key Takeaways 15. Key Countries Market Analysis 15.1. USA 15.1.1. Pricing Analysis 15.1.2. Market Share Analysis, 2023 15.1.2.1. By Product Type 15.1.2.2. By Application 15.2. Canada 15.2.1. Pricing Analysis 15.2.2. Market Share Analysis, 2023 15.2.2.1. By Product Type 15.2.2.2. By Application 15.3. Brazil 15.3.1. Pricing Analysis 15.3.2. Market Share Analysis, 2023 15.3.2.1. By Product Type 15.3.2.2. By Application 15.4. Mexico 15.4.1. Pricing Analysis 15.4.2. Market Share Analysis, 2023 15.4.2.1. By Product Type 15.4.2.2. By Application 15.5. Germany 15.5.1. Pricing Analysis 15.5.2. Market Share Analysis, 2023 15.5.2.1. By Product Type 15.5.2.2. By Application 15.6. UK 15.6.1. Pricing Analysis 15.6.2. Market Share Analysis, 2023 15.6.2.1. By Product Type 15.6.2.2. By Application 15.7. France 15.7.1. Pricing Analysis 15.7.2. Market Share Analysis, 2023 15.7.2.1. By Product Type 15.7.2.2. By Application 15.8. Spain 15.8.1. Pricing Analysis 15.8.2. Market Share Analysis, 2023 15.8.2.1. By Product Type 15.8.2.2. By Application 15.9. Italy 15.9.1. Pricing Analysis 15.9.2. Market Share Analysis, 2023 15.9.2.1. By Product Type 15.9.2.2. By Application 15.10. Poland 15.10.1. Pricing Analysis 15.10.2. Market Share Analysis, 2023 15.10.2.1. By Product Type 15.10.2.2. By Application 15.11. Russia 15.11.1. Pricing Analysis 15.11.2. Market Share Analysis, 2023 15.11.2.1. By Product Type 15.11.2.2. By Application 15.12. Czech Republic 15.12.1. Pricing Analysis 15.12.2. Market Share Analysis, 2023 15.12.2.1. By Product Type 15.12.2.2. By Application 15.13. Romania 15.13.1. Pricing Analysis 15.13.2. Market Share Analysis, 2023 15.13.2.1. By Product Type 15.13.2.2. By Application 15.14. India 15.14.1. Pricing Analysis 15.14.2. Market Share Analysis, 2023 15.14.2.1. By Product Type 15.14.2.2. By Application 15.15. Bangladesh 15.15.1. Pricing Analysis 15.15.2. Market Share Analysis, 2023 15.15.2.1. By Product Type 15.15.2.2. By Application 15.16. Australia 15.16.1. Pricing Analysis 15.16.2. Market Share Analysis, 2023 15.16.2.1. By Product Type 15.16.2.2. By Application 15.17. New Zealand 15.17.1. Pricing Analysis 15.17.2. Market Share Analysis, 2023 15.17.2.1. By Product Type 15.17.2.2. By Application 15.18. China 15.18.1. Pricing Analysis 15.18.2. Market Share Analysis, 2023 15.18.2.1. By Product Type 15.18.2.2. By Application 15.19. Japan 15.19.1. Pricing Analysis 15.19.2. Market Share Analysis, 2023 15.19.2.1. By Product Type 15.19.2.2. By Application 15.20. South Korea 15.20.1. Pricing Analysis 15.20.2. Market Share Analysis, 2023 15.20.2.1. By Product Type 15.20.2.2. By Application 15.21. GCC Countries 15.21.1. Pricing Analysis 15.21.2. Market Share Analysis, 2023 15.21.2.1. By Product Type 15.21.2.2. By Application 15.22. South Africa 15.22.1. Pricing Analysis 15.22.2. Market Share Analysis, 2023 15.22.2.1. By Product Type 15.22.2.2. By Application 15.23. Israel 15.23.1. Pricing Analysis 15.23.2. Market Share Analysis, 2023 15.23.2.1. By Product Type 15.23.2.2. By Application 16. Market Structure Analysis 16.1. Competition Dashboard 16.2. Competition Benchmarking 16.3. Market Share Analysis of Top Players 16.3.1. By Regional 16.3.2. By Product Type 16.3.3. By Application 17. Competition Analysis 17.1. Competition Deep Dive 17.1.1. Gemalto N.V. 17.1.1.1. Overview 17.1.1.2. Product Portfolio 17.1.1.3. Profitability by Market Segments 17.1.1.4. Sales Footprint 17.1.1.5. Strategy Overview 17.1.1.5.1. Marketing Strategy 17.1.2. DeviceFidelity, Inc. 17.1.2.1. Overview 17.1.2.2. Product Portfolio 17.1.2.3. Profitability by Market Segments 17.1.2.4. Sales Footprint 17.1.2.5. Strategy Overview 17.1.2.5.1. Marketing Strategy 17.1.3. Visa Inc. 17.1.3.1. Overview 17.1.3.2. Product Portfolio 17.1.3.3. Profitability by Market Segments 17.1.3.4. Sales Footprint 17.1.3.5. Strategy Overview 17.1.3.5.1. Marketing Strategy 17.1.4. Broadcom, Inc. 17.1.4.1. Overview 17.1.4.2. Product Portfolio 17.1.4.3. Profitability by Market Segments 17.1.4.4. Sales Footprint 17.1.4.5. Strategy Overview 17.1.4.5.1. Marketing Strategy 17.1.5. STMicroelectronics N.V. 17.1.5.1. Overview 17.1.5.2. Product Portfolio 17.1.5.3. Profitability by Market Segments 17.1.5.4. Sales Footprint 17.1.5.5. Strategy Overview 17.1.5.5.1. Marketing Strategy 17.1.6. Toshiba Corp. 17.1.6.1. Overview 17.1.6.2. Product Portfolio 17.1.6.3. Profitability by Market Segments 17.1.6.4. Sales Footprint 17.1.6.5. Strategy Overview 17.1.6.5.1. Marketing Strategy 17.1.7. Samsung Electronics Co. Ltd. 17.1.7.1. Overview 17.1.7.2. Product Portfolio 17.1.7.3. Profitability by Market Segments 17.1.7.4. Sales Footprint 17.1.7.5. Strategy Overview 17.1.7.5.1. Marketing Strategy 17.1.8. Identive Group, Inc. 17.1.8.1. Overview 17.1.8.2. Product Portfolio 17.1.8.3. Profitability by Market Segments 17.1.8.4. Sales Footprint 17.1.8.5. Strategy Overview 17.1.8.5.1. Marketing Strategy 17.1.9. NXP Semiconductor 17.1.9.1. Overview 17.1.9.2. Product Portfolio 17.1.9.3. Profitability by Market Segments 17.1.9.4. Sales Footprint 17.1.9.5. Strategy Overview 17.1.9.5.1. Marketing Strategy 17.1.10. Infineon Technology 17.1.10.1. Overview 17.1.10.2. Product Portfolio 17.1.10.3. Profitability by Market Segments 17.1.10.4. Sales Footprint 17.1.10.5. Strategy Overview 17.1.10.5.1. Marketing Strategy 17.1.11. On Track Innovation Ltd. 17.1.11.1. Overview 17.1.11.2. Product Portfolio 17.1.11.3. Profitability by Market Segments 17.1.11.4. Sales Footprint 17.1.11.5. Strategy Overview 17.1.11.5.1. Marketing Strategy 18. Assumptions & Acronyms Used 19. Research Methodology
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Near Field Communication Market
