Near Field Communication (NFC) Market Research Study and Future Prospects 2022
Market Synopsis
Near Field Communication (NFC) is a technology, jointly developed by Philips and Sony that allows electronic devices like smartphones or tablets to exchange information when they are touched together or brought within few centimeters of each other. Near field communication is a short-range wireless connectivity that uses magnetic field induction to enable communication between devices. Near field communication (NFC) technology offers smartphones and other NFC-enabled devices to communicate through NFC tags and NFC chips. NFC simplifies and speeds up the payment process by enabling users to make payment by placing a compatible device like a smartphone or payment card within a few centimeters of another compatible device. Android devices with NFC support three main modes of operation: reader/writer mode, P2P mode, and card emulation mode. The reader/writer mode enables NFC devices to read and/or write passive NFC tags and stickers. P2P mode enables NFC devices to exchange data with one another. Card emulation mode allows NFC device itself to act as an NFC card. The emulated NFC card can be accessed by an external NFC reader such as an NFC point of sale terminal. NFC offers speedy and secure sharing of documents, files and confidential data in corporate environments. Also, in case of payments, the card details of the consumer are stored on the mobile phone in a secure way. Advantages of near field communication are convenience of payment, Versatile, Seamless, secure and others.
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The key players in the near field communication market are NXP Semiconductors (Netherlands), Broadcom Corporation (US), Samsung Semiconductors (South Korea), Intel Corporation (US), Qualcomm Inc. (US) and others. NXP Semiconductors is one of the prominent players in the market offering NFC products such as NFC reader ICs, NFC tags and label ICs, NFC tags for electronics and NTAG SmartSensor. Samsung Semiconductors is another key player in the market. Samsung NFC features the greatest operating distance compared to industry standards, thanks to powerful RF performance in both card and reader mode. It allows the most convenient deployment of NFC applications, such as payment, authentication and transit.
Major factors driving Near Field Communication Market are increasing adoption of NFC technology by various manufacturers of smartphones and other similar devices, convenient transfer & security of data, and increasing use of smartphones for cashless transactions. However, lack of awareness about the benefits of NFC, expensive development cost, competition from substitute payment methods, issue of short-range communication, and growing security concerns may hinder the growth of NFC market.
The near field communication market is expected to reach USD 30 billion by the end of the forecast period at 17% CAGR.
Key Players
Prominent players in the global near field communication market include NXP Semiconductors (Netherlands), Broadcom Corporation (US), SAMSUNG (South Korea), Intel Corporation (US), Qualcomm Inc. (US), ams AG (Austria), STMicroelectronics (Switzerland), Texas Instruments Incorporated (US), MStar Semiconductor, Inc. (Taiwan), Flomio, Inc. (US), among others.
Other players in the market includes Blue Bite LLC, HID Global Corporation, Cellotape Smart Products, Advanced Card Systems Holdings Limited, Thinfilm, Smartwhere, LLC., SMARTRAC N.V., among others.s
Segmentation
By type, the market is segmented into non-auxiliary and auxiliary. Non-auxiliary segment is further sub-segmented into NFC ICs & antennas, NFC tags and NFC readers. Auxiliary segment is further sub-segmented into NFC micro SD cards, NFC SIM /UICC cards, and NFC covers.
By device, the market is segmented into smartphones, tablets, laptops & computers and others.
By application, the market is segmented into NFC-based payments, ticketing, booking, data sharing, authentication and access control, healthcare, games and toys.
Global Near Field Communication Market - Regional Analysis
The global near field communication market is estimated to grow at a significant rate during the forecast period from 2018 to 2022. The geographical analysis of near field communication market is studied for North America, Europe, Asia-Pacific, and the rest of the world. North America is expected to dominate the market followed by Europe owing to the presence of advanced technology and presence of global players. Asia-Pacific is expected to emerge as the fastest growing market for near-field communication due to heavy demand for NFC-enabled smartphones, growing consumer electronics industry, and increasing security concerns in industries such as BFSI. Also, rising income, high adoption of smart appliances, and rising per capita income in countries such as India and China are expected to create enormous growth for near field communication market in the Asia-Pacific region.
Intended Audience
- BFSI
- Security Provider Firms
- Contactless Chip Manufacturers
- Consumer Electronic Manufactures
- Research Organizations
- Investment Firms
- Resellers and Distributors
- Government Agencies
- VARs
- Investors and consultants
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TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Porter’s Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Buyers
4.1.3 Threat Of Substitutes
4.1.4 Segment Rivalry
4.2 Value Chain/Supply Chain Of Global Near Field Communication Market
5 Industry Overview Of Global Near Field Communication Market
5.1 Introduction
5.2 Growth Drivers
5.3 Impact Analysis
5.4 Market Challenges
6 Market Trends
6.1 Introduction
6.2 Growth Trends
6.3 Impact Analysis
Continued…
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