NFC Technology: Transforming the Future of Contactless Transactions

 

Meticulous Research®—a prominent global market research firm, has released a comprehensive report titled, ‘NFC Market by Offering (Hardware [Tags/Cards, Readers], Platform), Operating Mode (Read/Write, Peer-to-peer, Card Emulation), Application (Contactless Payment, Ticketing, Data Transfer & Sharing), End-use Industry, and Geography - Global Forecast to 2030.’

Download Free Sample Report Here: : https://www.meticulousresearch.com/download-sample-report/cp_id=5589?utm_source=article&utm_medium=social+&utm_campaign=product&utm_content=06-09-2024

According to the report, the global NFC market is expected to reach $50.1 billion by 2030, growing at a CAGR of 12.3% from 2023 to 2030. The market's expansion is primarily driven by the increasing demand for contactless payments and the integration of NFC technology into smartphones. Additionally, the adoption of NFC in retail to enhance customer experience and the growing application of keyless entry systems in homes and vehicles are expected to create substantial market opportunities.

However, the limited operational range of NFC and security concerns related to near-field communication pose challenges to market growth. Despite these challenges, the integration of NFC into wearable devices is emerging as a significant trend in the market.

The global NFC market is categorized based on offering, operating mode, application, and end-use industry. The report also provides an analysis of industry competitors and a detailed evaluation of regional and country-level markets.

Market Segmentation Highlights:

  • By Offering: The market is divided into hardware and platform. In 2023, the hardware segment is expected to hold the largest market share, driven by the growing use of NFC cards in the hospitality sector and the focus on keyless entry solutions. For example, in February 2023, Toppan Inc. (Japan) introduced an eco-friendly NFC tag label using paper as the antenna substrate, replacing PET film. This segment is also projected to experience the highest growth during the forecast period.

Browse full report: https://www.meticulousresearch.com/product/nfc-market-5589?utm_source=article&utm_medium=social&utm_campaign=product&utm_content=06-09-2024

  • By Operating Mode: The market is segmented into read/write mode, peer-to-peer mode, card emulation mode, and charging mode. The card emulation mode is anticipated to hold the largest share in 2023, attributed to its benefits, including security, compatibility, and reliability. This mode enables devices like smartphones to emulate contactless cards, facilitating seamless integration with existing systems. This segment is also forecasted to have the highest CAGR.
  • By Application: The applications include contactless payment, data transfer & sharing, access control & authentication, ticketing, asset tracking, and others. Contactless payment is expected to dominate the market in 2023 due to the increasing need for fast, secure transactions and the integration of NFC in smartphones. The focus on developing advanced payment technologies and fostering partnerships to promote contactless payments is contributing to this growth. However, the access control & authentication segment is expected to grow at the fastest rate during the forecast period.

Download request sample report: https://www.meticulousresearch.com/request-sample-report/cp_id=5589?utm_source=article&utm_medium=social&utm_campaign=product&utm_content=06-09-2024

By End-use Industry: The end-use industries include retail, BFSI, healthcare, automotive, hospitality, consumer electronics, transportation, residential & commercial, manufacturing, and others. The retail sector is projected to hold the largest share in 2023, driven by the rising penetration of digital payments, the use of NFC for product identification, and the need to combat counterfeiting. Meanwhile, the BFSI sector is expected to record the highest growth during the forecast period.

  • By Geography: The report covers North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is expected to lead the market in 2023, with significant contributions from digital payment adoption and large hospitality chains like Marriott International, Jin Jiang International, Banyan Tree Holdings, and Mandarin Oriental Hotel Group. The region is also anticipated to have the highest growth rate during the forecast period.

Key Players: The report profiles major players in the NFC market, including NXP Semiconductors N.V. (Netherlands), Broadcom Corporation (U.S.), Renesas Electronics Corporation (Japan), STMicroelectronics N.V. (Switzerland), Infineon Technologies AG (Germany), Identiv, Inc. (U.S.), ams-OSRAM AG (Austria), Intel Corporation (U.S.), Texas Instruments Incorporated (U.S.), Samsung Electronics Co., Ltd. (South Korea), Sony Corporation (Japan), Avery Dennison Corporation (U.S.), MagTek Inc. (U.S.), Identis (India), and HID Global Corporation (U.S.).

Quick Buy: https://www.meticulousresearch.com/Checkout/40817071?utm_source=article&utm_medium=social+&utm_campaign=product&utm_content=06-09-2024

Contact Us:
Meticulous Research®
Email- sales@meticulousresearch.com
Contact Sales- +1-646-781-8004
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research

 

Comments

Post a Comment

Popular posts from this blog

Revolutionizing API Testing: The Power of Automation in Software Development

API Testing Automation Solutions are sophisticated tools and frameworks designed to streamline the testing of application programming interfaces (APIs). These solutions ensure APIs function accurately, reliably, and securely by automating repetitive and complex testing processes. By minimizing human error and accelerating development cycles, they help organizations deliver high-quality software efficiently and confidently. Download Sample Report Here : https://qksgroup.com/market-research/market-share-api-testing-automation-solutions-2023-worldwide-4085 Key advantages of these solutions include comprehensive testing capabilities across functional, performance, security, and load testing; seamless integration with CI/CD pipelines and development tools; scalability for extensive testing environments; intuitive user interfaces; advanced reporting and analytics; support for multiple protocols like REST, SOAP, and GraphQL; and strong security testing features to identify vulnerabilitie...
Read more

Cloud Data Warehouses: The Key to Scalable and Agile Data Management

  The growing need for cloud data warehouses stems from the rapid expansion of data generated by modern businesses. Traditional on-premises data warehouses are struggling to keep up with the sheer volume and complexity of this data, creating a demand for more scalable, flexible, and cost-effective solutions. Cloud data warehouses provide an ideal alternative by offering platforms that can efficiently manage structured, semi-structured, and unstructured data while eliminating the limitations of physical infrastructure. These solutions provide virtually limitless storage and processing power, allowing businesses to scale their data operations seamlessly. One of the key advantages of cloud data warehouses is their cost-effectiveness. Unlike traditional data storage systems, which require substantial upfront investments in hardware and ongoing maintenance costs, cloud data warehouses operate on a pay-as-you-go pricing model. This means organizations only pay for the storage and comp...
Read more

Mastering Data: The Evolving Role of Master Data Management

  Master Data Management (MDM) is undergoing a transformative shift, driven by the integration of machine learning (ML) technologies. As organizations seek to manage increasingly complex and voluminous data assets, the incorporation of machine learning into MDM solutions is revolutionizing how data is prepared, cleansed, and transformed. These intelligent systems are capable of learning from user behavior and identifying recurring data patterns, allowing them to recommend or even automate steps in the data preparation process. Machine learning enhances MDM systems by offering intelligent suggestions for data cleaning, normalization, enrichment, and transformation. Over time, as these systems interact more with users and datasets, their ability to anticipate needs and improve data quality grows. This leads to significant reductions in manual data preparation tasks, accelerating the entire data lifecycle and enabling organizations to gain actionable insights faster. With cleaner, ...
Read more