Near field communication (NFC) is simply a set of transceivers that are used for communication between electronic equipment over a short to medium distance. A typical application of near-field communications would include vehicle navigation systems, allowing a car to communicate with a nearby vehicle or even with an orbiting satellite. In fact, some of the most popular smartphone applications now incorporate this technology into their devices to enable voice navigation, controls over braking and acceleration as well as making calls on the move. In addition, as mentioned above, many of today's most popular mobile devices, like the iPhone and Android, make use of this type of connectivity to allow users to make hands-free calls wherever they are.
Launch of solutions that support NFC is expected to propel growth of the global near field communication market over the forecast period. For instance, in July 2019, GET Group North America, a developer of mobile ID technology, announced that its GET Mobile ID Digital Identity Solution for iOS can support NFC for identity transactions at Point of Sale (POS), airports, and even kiosks.
Major players in the global near field communication market are focused on adopting partnership and collaboration strategies to enhance their market share. For instance, in February 2019, Broadcom Inc. announced that Barclays signed a strategic agreement as a Portfolio License Agreement (PLA) customer to help support a multi-year, cross-organizational initiative to streamline its IT operations, while reducing complexity and cost.
Key features of the study:
- This report provides in-depth analysis of the global near field communication market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2021–2028), considering 2020 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global near field communication market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Broadcom Corporation, On Track Innovations (OTI) Ltd., DeviceFidelity, Inc., Identive Group, Inc., Gemalto N.V., NXP Semiconductors N.V., Visa, Inc., Samsung Electronics Co. Ltd., Toshiba Corporation, and ST Microelectronics N.V.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global near field communication market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global near field communication market
- Global Near Field Communication Market, by Product Type:
- NFC Tags
- NFC ICs/Chips
- SIM Cards
- NFC Readers
- Global Near Field Communication Market, by Operating Mode:
- Read/Write Mode
- Peer-to-peer Mode
- Card Emulation Mode
- Global Near Field Communication Market, by End User:
- Residential & Commercial
- Medical & Healthcare
- Consumer Electronics
- Banking & Finance
- Company Profiles
- Broadcom Corporation*
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments
- Future Plans
- On Track Innovations (OTI) Ltd.
- DeviceFidelity, Inc.
- Identive Group, Inc.
- Gemalto N.V.
- NXP Semiconductors N.V.
- Visa, Inc.
- Samsung Electronics Co. Ltd.
- Toshiba Corporation,
- ST Microelectronics N.V.
*Browse all the market data tables and figures on “Global Near Field Communication Market- Forecast to 2028”