Transforming the Near Field Communication Market in 2025: Increased Smartphone Adoption Boosting The Nfc Market

What Is the Expected Size and Growth Rate of the Near Field Communication Market?
The near-field communication (NFC) market has grown rapidly in recent years. It is expected to rise from $30.47 billion in 2024 to $34.64 billion in 2025, at a CAGR of 13.7%. The past growth was influenced by mobile device integration, increasing adoption of contactless payments, the expansion of transportation ticketing solutions, smart access and security systems, and marketing and advertising applications.

The near-field communication (NFC) market is projected to see rapid growth in the coming years. It will reach $59.06 billion by 2029, with a CAGR of 14.3%. The growth is driven by collaborative efforts to develop standards, the expansion of retail and loyalty programs, innovations in security and access control, integration with wearable devices and healthcare records, and growth in transport and ticketing solutions. Major trends include biometric authentication, smart packaging, the expansion of smart home applications, growth in health and wellness tracking, and integration with public services.

What Factors Are Fueling Growth in the Near Field Communication Market?
The growing adoption of smartphones is anticipated to drive the expansion of the near-field communication market. Smartphone adoption refers to the rate at which individuals acquire and utilize smartphones as their primary mobile communication and computing devices. This metric represents the percentage of the population or a particular group that owns and frequently uses smartphones. Near-field communication (NFC) technology is a short-range wireless communication method that enables nearby devices to exchange data. NFC is integrated into smartphones for various applications, including mobile payments, digital content sharing, and device connectivity. For instance, in May 2024, BankMyCell, a New York-based company that facilitates competitive pricing for transactions, reported that there were 4.88 billion smartphone users worldwide, making up 60.42% of the global population-a 14.9% increase from the previous year. The total number of active smartphones stood at approximately 7.21 billion, as some individuals own multiple devices. This figure increased from 4.25 billion users in 2023. Consequently, the rising adoption of smartphones is fueling the growth of the near-field communication market.

Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=13273&type=smp

Which Leading Companies Are Shaping the Growth of the Near Field Communication Market?
Major companies operating in the near field communication market report are 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.

What Are the Major Trends Shaping the Near Field Communication Market?
Companies in the near-field communication (NFC) market are focusing on innovative products like NAC1080 to offer an affordable and user-friendly platform for developing smart actuators. NAC1080 is a single-chip solution that incorporates an H-bridge, energy harvesting module, NFC frontend, sensing unit, and motor driver, making it highly versatile and easy to use. For instance, in July 2022, Infineon Technologies AG, a Germany-based semiconductor company, introduced NAC1080, a programmable 32-bit ARM Cortex-M0 microcontroller with an embedded NFC frontend. This chip enables the cost-effective development of smart actuators such as passive locks. It integrates an H-bridge, energy harvesting module, NFC frontend, sensing unit, and motor driver into a single solution, providing flexibility and ease of use. Furthermore, it includes security features like a real random number generator, a protected flash section, and a 128-bit AES accelerator. Near-field communication technology allows wireless data exchange between two devices in close proximity.

What Are the Key Segments of the Near Field Communication Market?
The near field communication market covered in this report is segmented -

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

Subsegments:
1) By Non-Auxiliary: Peer-To-Peer Communication, Card Emulation Mode, Reader Or Writer Mode
2) By Auxiliary: NFC-Enabled Mobile Devices, NFC Tags, NFC-Enabled Wearable Devices, NFC Readers

Pre-Book Your Report Now For A Swift Delivery:
https://www.thebusinessresearchcompany.com/report/near-field-communication-global-market-report

Which Region Dominates the Near Field Communication Market?
North America was the largest region in the near field communication market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the near field communication market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

What Is Covered In The Near Field Communication Global Market Report?

- Market Size Analysis: Analyze the Near Field Communication Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Near Field Communication Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Near Field Communication Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Near Field Communication Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=13273

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.