The global Near-Field Communication (NFC) market size is expected to reach USD 87.53 Billion in 2032 and register a steady revenue CAGR of 14.2% during the forecast period, according to the latest analysis by Emergen Research. Increasing adoption of wearable technology is a major factor driving revenue growth of the market. Activity trackers in the sporting goods sector as well as companies that provide high-end fashion accessories are driving expansion of wearable technology. Near Field Communication (NFC) and wireless charging technology are rapidly being incorporated with built-in connectivity technologies such as Wi-Fi and Bluetooth in wristbands. NFC is used to make contactless payments utilizing EMVCo-compatible technology. Undoubtedly, it is convenient to be able to make purchases without having to take out one's wallet or to go for a run without having to bring a phone or wallet. Wearables are increasingly using wireless charging. These devices batteries need to be often recharged. The ability to wirelessly charge the device is innovative for the wearable sector since it eliminates the need to bring a charger or go home.

The report contains updated information about the ongoing COVID-19 pandemic and acts as an accurate analysis of the COVID-19 impact on the Near Field Communication market. The report draws attention to the COVID-19 impact on the market and its crucial segments. As per the report, the current pandemic is one of the major contributing elements for the potential decline of the market in the coming years. The business sector has been drastically affected by the pandemic, which has adversely altered the market dynamics and demand trends. Financial difficulties brought by the pandemic have delayed the progress rate of various businesses and disrupted the global supply chains. The report further provides a future impact assessment of the Near Field Communication market concerning COVID-19.

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 Key Players operating in the industry are:

NXP Semiconductors, Broadcom, Qualcomm Technologies, Inc., Texas Instruments Incorporated, STMicroelectronics, Samsung, Renesas Electronics Corporation, Intel Corporation, Toshiba Corporation, and ams-OSRAM AG

Radical Features of the Near Field Communication Market Report:

• The report encompasses Near Field Communication market overview along with market share, demand and supply ratio, production and consumption patterns, supply chain analysis, and other ley elements
• An in-depth analysis of the different approaches and procedures undertaken by the key players to conduct business efficiently
• Offers insights into production and manufacturing value, products and services offered in the market, and fruitful information about investment strategies
• Supply chain analysis along with technological advancements offered in the report
• The report covers extensive analysis of the trends, drivers, restraints, limitations, threats, and growth opportunities in the Near Field Communication industry

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Segmentation:

• Device Operating Mode Outlook (Revenue, USD Million; 2019–2032)

  • Reader Emulation
  • Peer-to-Peer
  • Card Emulation

• Offering Outlook (Revenue, USD Million; 2019–2032)

  • Non-Auxiliary Products
    1. NFC ICS & Antennas
    2. NFC Tags
    3. NFC Readers
  • Auxiliary Products
    1. NFC Micro SD Cards
    2. NFC Covers
  • Software

• Application Outlook (Revenue, USD Million; 2019–2032)

  • Retail
    1. Product Identification
    2. Transaction
  • Transportation
    1. Ticketing
    2. Access Control
  • Automotive
    1. Low-End
    2. Mid-Range
    3. High-End
  • Residential & Commercial
    1. Physical Access
    2. Time& Attendance
    3. Automated Locking System
    4. Smart Lighting
  • Medical & Healthcare
    1. Medical Devices
    2. Access Control
  • Consumer Electronics
    1. Wearable Devices
    2. Mobile Phones/Tablets
    3. Laptops/Personal Computers
    4. Cameras
    5. Printers
    6. Gaming Devices
    7. Others
  • Banking & Finance
    1. E-Money Services (POS Machines)
    2. Multiforex Cards
  • Hospitality
    1. Access Control
    2. Transaction
  • Others
    1. Education
    2. Government

Regional Analysis Covers:

• North America (U.S., Canada)
• Europe (U.K., Italy, Germany, France, Rest of EU)
• Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Rest of Latin America)
• Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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