Global Near Field Communication Market Size to worth USD 99.20 Billion by 2033: Market Study Report

Global Near Field Communication Market Size to worth USD 99.20 Billion by 2033

According to a research report published by Spherical Insights & Consulting, The Global Near Field Communication Market Size is Expected to Grow from USD 30.81 Billion in 2023 to USD 99.20 Billion by 2033, at a CAGR of 12.40% during the forecast period 2023-2033. 

Browse key industry insights spread across 210 pages with 110 Market data tables and figures & charts from the report on the Global Near Field Communication Market Size, Share, and COVID-19 Impact Analysis, By Device Operating Mode (Reader Emulation, Card Emulation, and Peer-to-peer), By Offering (Non-auxiliary and Auxiliary), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.     

Near-field communication, in short form NFC, is a form of short-range wireless communication that allows for the transmission of data between devices at a distance of up to 4 centimeters. Operating on the principle of RFID, NFC is commonly used in secure transactions, access control, and transfer of data between compatible devices, such as smartphones, payment terminals, and smart cards. This technology has become highly popular due to its convenience, speed, and improved security features, making it an essential part of industries such as mobile payments, retail, healthcare, and transportation. NFC enables contactless payments, electronic ticketing, and user authentication with the utmost ease and comfort for the user in various applications. Furthermore, the growth in the near-field communication market is led primarily by an increase in the adoption of mobile payment solutions, the rise of smart devices, and the growth in demand for contactless transactions, mainly as a result of the COVID-19 pandemic. Improvements in NFC-enabled technologies, including improved security protocols and broader compatibility with devices, have also enhanced the use of this technology. However, some issues such as limited adoption in particular regions, security issues, and the competition of alternatives such as Bluetooth and QR codes will be limiting the growth in the future years.

The card emulation segment is predicted to hold the greatest market share through the forecast period.

Based on the device operating mode, the near field communication market is classified into reader emulation, card emulation, and peer-to-peer. Among these, the card emulation segment is predicted to hold the greatest market share through the forecast period. This is mainly because more and more people are now using NFC-enabled smartphones and smart devices for contactless payment systems, where the device emulates a contactless smart card. Card emulation is mainly used in mobile payment applications, public transportation systems, and secure access control where users can make transactions, access services, and authenticate themselves easily.

The non-auxiliary segment is anticipated to hold the greatest market share during the projected timeframe.    

Based on the offering, the near field communication market is divided into non-auxiliary and auxiliary. Among these, the non-auxiliary segment is anticipated to hold the greatest market share during the projected timeframe. This is because of the demand for standalone NFC solutions, which do not require external devices or support. Non-auxiliary NFC devices like smartphones and smart cards offer a wide range of applications such as mobile payments, access control, and ticketing, without the need for supplementary hardware.

North America is estimated to hold the largest near field communication market share over the forecast period.

North America is estimated to hold the largest near field communication market share over the forecast period. The region is one of the largest adopters of smartphones and other technologies like mobile payments, creating a highly competitive and well-established market for NFC companies. In Canada and the U.S., digital wallets like Apple Pay and Google Pay have become a widely accepted preference among consumers, leading to extensive usage of near-field communication technology.

Asia-Pacific is predicted to have the fastest CAGR growth in the near field communication market over the forecast period. The rapid urbanization in developing economies like India and China, along with the very well-established payment infrastructure of developed nations like Japan and Australia, is pushing the growth of NFC technology forward. Governments around the world are encouraging cashless transactions to increase financial inclusion and help grow NFC technology.

Company Profiling

Major key players in the near field communication market are NXP Semiconductors, Broadcom, Qualcomm Technologies, Inc., SAMSUNG, Texas Instruments Incorporated, STMicroelectronics, Infineon Technologies AG, Sony Corporation, Rambus.com, and Apple Inc.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In July 2024, the CCC Car Connectivity Consortium gave the award of its certification to NXP Semiconductors and the BMW Group, as part of efforts toward standards formulation to enable better advancement of vehicle-to-device (V2D) connectivity solutions. NXP received this recognition for both the secure element (SE) and the NFC chipset it integrates into its digital key for providing access and starting with the help of an NFC-enabled device.

Market Segment

This study forecasts global, regional, and country revenue from 2023 to 2033. Spherical Insights has segmented the near field communication market based on the below-mentioned segments:

Global Near Field Communication Market, By Device Operating Mode

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

Global Near Field Communication Market, By Offering

• Non-auxiliary
• Auxiliary

Global Near Field Communication Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa