Global Near Field Communication Market 2024 Future Trends, Scope, Industry Analysis And Forecast To 2033 | Major Players Are Google LLC, Samsung Electronics Corporation, Microsoft Corporation, At and T Inc., Verizon Communications Inc.

"The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company presents an extensive market research report on the Near Field Communication Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:
The near field communication market size has grown rapidly in recent years. It will grow from $26.78 billion in 2023 to $30.47 billion in 2024 at a compound annual growth rate (CAGR) of 13.8%. The growth in the historic period can be attributed to mobile device integration, contactless payment adoption, transportation ticketing solutions, smart access and security systems, marketing and advertising applications..

The near field communication market size is expected to see rapid growth in the next few years. It will grow to $51.24 billion in 2028 at a compound annual growth rate (CAGR) of 13.9%. The growth in the forecast period can be attributed to collaborative efforts in standards development, growth in retail and loyalty programs, security and access control innovations, healthcare records and wearable integration, expansion in transport and ticketing solutions.. Major trends in the forecast period include biometric authentication integration, focus on smart packaging solutions, expansion in smart home applications, rise in health and wellness tracking, integration with public services..

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Key Market Players:
Google LLC, Samsung Electronics Corporation, Microsoft Corporation, At and T Inc., Verizon Communications Inc., Sony Group Corporation, T-Mobile US Inc., Qualcomm Technologies Inc., Toshiba Electronic Devices and Storage Corporation, Broadcom, Nokia Corporation, Royal Philips Electronics, Texas Instruments Incorporated​, Thales Group, MediaTek Inc., Infineon Technologies, STmicroelectronics N.V.​, NXP Semiconductors N.V., Renesas Electronics Corporation, Avery Dennison, Motorola Solutions Inc., Omron Healthcare, Ams-OSRAM AG, HID Global, A and D Company Limited, Impak Health Nedap, Identive Group, MagTek Inc., Gentag Inc. are prominent players in the industry.

Market Drivers:
The increased smartphone adoption is expected to propel the growth of the near-field communication market. Smartphone adoption refers to the rate or extent to which people acquire and use smartphones. It represents the %age of the population, or a specific group that owns and regularly uses smartphones as their primary mobile communication and computing devices. Near-field communication (NFC) technology is a short-range wireless technology that allows devices to communicate with each other nearby. NFC is used in smartphones for various purposes, including mobile payments, exchanging digital content, and connecting electronic devices. For instance, in March 2023, according to a report published by Cybercrew, a UK-based company developing and providing cybersecurity solutions for businesses of all sizes, as of 2021, 91.43% of households in the United Kingdom were using mobile internet. This %age is projected to increase to 93.8% by 2026, indicating a steady rise in smartphone usage. Therefore, the increased smartphone adoption is driving the growth of the near-field communication market.

Market Segments Include:
1) By Type: Non-Auxiliary, Auxiliary
2) By Operating Mode: Read And Write Mode, Peer-To-Peer Mode, Card Emulation Mode
3) By End-User: Cloud Service, Telecom Service, Enterprise

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The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?

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