In a recent published report, Kenneth Research has updated the Near Field Communication Market report for for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Near Field Communication Market products.
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According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017.
In this report, the Near Field Communication (NFC) market was valued at USD 4.80 Billion in 2015, and is projected to reach USD 47.43 billion by 2024, growing at a CAGR of 27.2% over the forecast period.
“Near Field Communication (NFC) Market”, published by Xpodence Research, provides extensive insight and analysis of the NFC Market over the next eight years (2015-2025) and acts as a vital point of reference for operators or suppliers.
The NFC enabled devices has been anticipated to grow at tremendous rate owing to continuous transition of data transfer from conventional ways to smart technology. Increasing volume of cashless transactions, and growing adoption of smart appliances are expected to drive the technology growth. Furthermore, declining prices of NFC chips, and increasing adoption of mobile commerce will also benefit the NFC technology over the forecast period.
Rising adoption & proliferation of digital wallets & apps payment have encouraged non-payment technology firms to enter into payment landscapes, henceforth, driving the market growth. Moreover, device penetration and well-established infrastructure in developed regions are supporting mobile transactions among consumers and financial institutions. The rising demand for better government policies and security issues is predicted to propel the NFC technology.
The rapid proliferation of mobile payment services has accelerated collaboration amongst the industry participants resulting in the development of the technology in the Asia Pacific region. The international banks are actively investing in building the mobile payment network which is further predicted to increase the application segment collaborating the financial service provider and retailers. Furthermore, the Europe region is projected to witness major technological developments in various applications which include NFC-based transactions, ticketing and access control.
The report includes –
Segmentation: On the basis of product, the report displays the revenue, market share and growth rate of each type, primarily split into
• NFC Tags
• NFC Covers
• SD Cards
• NFC ICs
• SIM Cards
• NFC Readers
Based on application, the report displays the revenue, market share and growth rate of each type, primarily split into
• Access Control
• Data Sharing
• Medical Devices
• Product Identification
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Geographic Segmentation: This report split global market into North America, Europe, Asia Pacific, the Middle East and Africa and Latin America, with revenue (Billion USD), market share and growth rate of NFC market for these regions, from 2015 to 2025 (forecast)
• North America: U.S., Rest of North America
• Europe: Germany, France, UK, rest of Europe
• Asia Pacific: China, Japan, India and Rest of Asia Pacific
• Middle East & Africa: GCC, North Africa, South Africa and Rest of MEA
• Latin America: Brazil and Rest of Latin America
Key players: Overview of market leaders in NFC market by top manufacturers/players, with NFC revenue (Billion USD) and market share for each manufacturer/player; the top players including Apple Inc., Visa Inc., Broadcom Corporation, Toshiba Corporation, DeviceFidelity, Inc., Texas Instruments Incorporated, Gemalto NV, STMicroelectronics N.V., Huawei Technologies Co., Ltd., SONY Corporation, Identiv Group, Inc., Samsung Electronics Co., Ltd., Infineon Technologies AG, Renesas Electronics Corporation, Inside Secure, On Track Innovations (OTI) Ltd, Mediatek Inc., and NXP Semiconductors N.V.• Blister Packaging
The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
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