Near Field Communication (NFC) Market Technology in India: A Lucrative Growth Opportunity

Market Values and Forecast:

The Near Field Communication (NFC) market in India is poised for substantial growth, projected at a remarkable CAGR of 14.5% during the forecast period. By 2029, the market is anticipated to reach an impressive US$ 49.55 billion, driven by the increasing demand for seamless connectivity and the surge in cashless transactions.

Report Scope and Research Methodology:

Our comprehensive report delves into the impact of the COVID-19 lockdown on market leaders, followers, and disruptors, offering valuable insights into short-term and long-term strategies. The research methodology employed provides a robust analysis of the NFC market in India, aiding decision-makers in formulating effective strategies based on region-specific and segment-specific considerations.

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Market Drivers:

NFC, a wireless technology designed for short-range connectivity, is gaining momentum in India. The growth is attributed to factors such as cross-industry applications, smartphone penetration, affordability of devices, and competitive mobile internet data rates. The impressive 7.7% GDP growth rate and government initiatives like Digital India contribute to creating a conducive environment for NFC technology adoption.

Government Initiatives and Foreign Direct Investment:

The Indian government's initiatives, including the Make in India campaign, have led to a surge in Foreign Direct Investment (FDI) in the electronic manufacturing sector. With policies allowing a significant percentage of FDI in Electronics Systems Design & Manufacturing, India aims to become a global semiconductor hub, further driving the NFC market.

Challenges and Opportunities:

While NFC technology is at a nascent stage in India, its potential is undeniable. Challenges include the need for collaboration among mobile service providers, banks, and other stakeholders to create a seamless ecosystem. The report emphasizes the necessity of readiness among various players to interoperate for the widespread adoption of NFC technology.

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Regional Insights:

India's economic growth, demographic dividend, and rising middle-class proportion make it the most lucrative market globally. The report highlights the urban-rural digital divide, emphasizing the need for efficient strategies to address digital gender gaps and enhance digital penetration in rural areas.

Investment and Collaboration Opportunities:

Global key players are eyeing India as a significant market for NFC technology. Investments and collaborations with indigenous entities are on the rise. For instance, NXP Semiconductors and YELDI Softcom are partnering to develop NFC handsets, cards, backend infrastructure, and mobile apps, showcasing the growing interest in India's untapped market.

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Segmentation and Growth Areas:

The NFC market in India is segmented by operating mode, products & software, and end-user industry. Currently, the retail sector dominates the market, driven by the growth of non-cash transactions, NFC-enabled Point of Sale (PoS) terminals, and the adoption of electronic shelf labels. The automotive industry is expected to witness the highest CAGR, fueled by the demand for in-car infotainment and touch-less controls.

by Operating modes

Card emulation
Reader emulation
Peer-to-peer mode

by Products & Software

Auxiliary products
Non-auxiliary products
NFC Software

by End-user

Industry Retail
Transportation
Automotive
residential & commercial
medical & healthcare
consumer electronics
others

Key Players

1. NXP Semiconductors
2. Sony Corporation
3. NEC
4. YELDI Softcom
5. aTuch
6. Tagtul
7. Nokia Corporation
8. Identive Group Inc.
9. Gemalto NV
10.Broadcom
11.Renesas
12.AT & T Inc.
13.Barclays
14.Google Inc.
15.Infineon Technologies AG.
16.Marvell Technology Group Ltd.
17.AMS AG
18.Mstar Semiconductor Inc.
19.MediaTek Inc.
20.STMicroelectronics
21.Qualcomm Inc.
22.Texas Instruments Inc.
23.Broadcom Corp.

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Table of content for the Near Field Communication (NFC) India Market includes:

Part 01: Executive Summary

Part 02: Scope of the Near Field Communication (NFC) India Market Report

Part 03: Global Near Field Communication (NFC) India Market Landscape

Part 04: Global Near Field Communication (NFC) India Market Sizing

Part 05: Global Near Field Communication (NFC) India Market Segmentation

Part 06: Five Forces Analysis

Part 07: Customer Landscape

Part 08: Geographic Landscape

Part 09: Decision Framework

Part 10: Drivers and Challenges

Part 11: Market Trends

Part 12: Vendor Landscape

Part 13: Vendor Analysis

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