"Smart Strategies, Giving Speed to your Growth Trajectory"
Near-field communications (NFC) is a short-range wireless system that allows two devices to communicate using a low-power protocol. Near-field communication (NFC) is a technology that is primarily utilised in smartphones, laptops, and tablets for short-range data transfer over a short distance. NFC is an easy and appropriate technology that is gaining traction in the healthcare business and has attracted the attention of a number of medical device manufacturers for inclusion in their products.
Contactless payments, increased smartphone adoption, convenient data transfer, and data security are driving the global near field communication market.
Various financial institutions are working with mobile app developers to create apps that will allow customers to conduct business transactions. NFC technology is now used by smartphone users to make payments. Moreover, with technologies like NFC-enabled PoS systems, mobile devices have become an appropriate key of data transfer which are expected to fuel the market growth.
The escalating spread of pandemic COVID-19 has positively impacted the nearfield communication industry. The adoption of smart payments such as cashless or contactless payments has increased as citizens become more concerned with social distancing and avoiding human contact. However, IoT, NFC, and other communications technologies are in high demand as a result of these applications, and they have a positive impact because these applications are widely accepted all over the world.These factors are more likely to contribute to the market growth in the coming years.
Key Market Driver -
The expanding popularity of mobile devices, as well as the growing number of online consumers, are expected to boost e-commerce demand.
Key Market Restraint -
Lack of proper long-range connectivity, expensive costs, and security concerns are all hampering worldwide Near-field communication industry expansion.
The major companies in the global Nearfield Communication Market report include NXP Semiconductors N.V., Texas Instruments Incorporated, STMicroelectronics N.V., Qualcomm company, Sony Group Corporation, Infineon Technologies AG, Broadcom Inc., Thale Group, Gemalto N.V., Blue Bite LLC, Flomio, Inc., Smartrac N.V., HID Global Company, and others.
North America is expected to emerge dominance in the global market during the forecast period. The United States is projected to hold a major market share across the region. Increased need for home-based monitoring and increased volume of mobile/contactless payments are some of the factors that support market growth in the region. Asia Pacific is projected to exhibit a fascinating growth rate in the coming years. The presence of developing market economies such as India, Japan, and China is likely to pose potential market opportunities in the near future. Additionally, increased investments in R&D activities for the development of sophisticated NFC devices are expected to boost this region's growth in the near future. For instance, according to the IDN financials In the first quarter of 2020, PT NFC Indonesia Tbk (NFCX) projected revenue growth of 143.2% year on year (yoy) to Rp 2.1 trillion.
The Middle East and Africa is forecast to be a potential market for the nearfield communication providers. Many countries in the region are aiming towards short range wireless system. These factors are likely to create lucrative market opportunities across the region. Latin America is estimated to represent a steady growth. The out-break of COVID-19 has hindered the ICT spending’s of businesses across Latin America.
To gain extensive insights into the market, Request for Customization
By Enterprise Size
“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”- U.S.-based biotechnology company focussing on treatment of chronic pain.
“Kudos to your team. Thank you very much for your support and agility to answer our questions.”- Europe-based provider of solutions to automate data centre operations.
“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”- India-based manufacturer of industrial and specialty intermediates with a strong global presence.
“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”- One of the largest cosmetics company in the world.
“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”- U.S. based startup operating in the cultivated meat market.
“We received the below report on the U.S. market from you. We were very satisfied with the report.”- UGlobal hearing aids manufacturer.
“I just finished my first pass-through of the report. Great work! Thank you!”- U.S. based solar racking solutions provider.
“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”- World’s leading advisory firm.
“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”- Germany based machine construction company.
“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”- Japanese manufacturing company of stationery products.
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry