NFC Systems Market is estimated to grow by at a CAGR of 14.63% between 2022 and 2027; Integration of NFC technology in smartphones to drive market growth

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26 May, 2023, 09:15 ET

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NEW YORK, May 26, 2023 /PRNewswire/ -- The NFC systems market size is estimated to increase by USD 21,742.46 million from 2022 to 2027, with a CAGR of 14.63%, according to recent market study by Technavio. This report also offers a 5-year historical (2017-2021) data projection of market size, segmentation, and region. Discover some insights on market size before buying the full report - Request a sample report

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak. The Bargaining Power of Buyers & Suppliers and the Threat of New Entrants, Rivalry, and Substitutes have also been analyzed and rated between LOW-HIGH to provide a holistic view of market favorability.Find Technavio's Exclusive Analysis of Price Sensitivity, Adoption Lifecycle, Customer Purchase Basket, Adoption Rates, and Purchase Criteria

The addictions therapeutics market report also offers information on the criticality of inputs, R&D, CAPEX, technology, and products of 15 vendors listed Below -

ASSA ABLOY AB, Avery Dennison Corp., Broadcom Inc., Intel Corp., KISI Inc., MagTek Inc., Murata Manufacturing Co. Ltd., Nordic Semiconductor ASA, NXP Semiconductors NV, Qualcomm Inc., Samsung Electronics Co. Ltd., Sony Group Corp., STMicroelectronics NV, Texas Instruments Inc., Thales Group, The Swatch Group Ltd., Zebra Technologies Corp., Zeus RFID, Renesas Electronics Corp., and Infineon Technologies AG.

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Market Dynamics

Key Trends -

Key Drivers -

Key Challenges -

Geographic AnalysisThe market is segmented by region North America, APAC, Europe, South America, and Middle East and Africa. An analysis of key leading countries has been included.

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The near-field communication (NFC) chips market is estimated to grow by USD 3,083.48 million at a CAGR of 12.78% between 2022 and 2027. This report extensively covers market segmentation by type (non-auxiliary and auxiliary), product (smartphones, smart wearables, POS terminals, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa). The market share growth of the non-auxiliary segment will be significant during the forecast period. The increased adoption of contactless payments is notably driving the market growth.

The NFC transaction market will grow steadily and post an excellent CAGR of over 55% by 2020. This report extensively covers market segmentation by mobile device and wearable and geography (America, APAC, EMEA). During 2015, the mobile device segment dominated the market by accounting for around 56% of the total market share. One of the factors contributing toward the growth of the market will be the increasing adoption of mobile payment and digital wallet services.

NFC Systems Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 14.63%

Market growth 2022-2027

USD 21,742.46 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

13.41

Regional analysis

North America, APAC, Europe, South America, and Middle East and Africa

Performing market contribution

North America at 34%

Key countries

US, Canada, China, Japan, and UK

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents -

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Application

7 Market Segmentation by Product

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About UsTechnavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]Website: www.technavio.com/

SOURCE Infiniti Research, Inc.

Infiniti Research, Inc.