Near Field Communication Market Reach USD 54.52 Billion by 2028 Registering 14.8% CAGR Globally

WILMINGTON, DE, UNITED STATES, August 19, 2025 /EINPresswire.com/ -- Allied Market Research published a new report, titled, "Near Field Communication Market Reach USD 54.52 Billion by 2028 Registering 14.8% CAGR Globally." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segments, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain a thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

The global NFC market size was valued at USD 15,531 million in 2019, and is projected to reach USD 54,521 million by 2028, registering a CAGR of 14.8% from 2021 to 2028.

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Driving Factors

The global NFC market is expected to exhibit robust growth during the forecast period. The need for convenient transfer and security of data and the proliferation of smartphones are the factors anticipated to boost the near field communication market growth. In addition, demand for improved customer experience along with the rise in demand for contactless payments due to the COVID-19 pandemic significantly fuel the growth of the market. However, short operational range and security concerns hamper the growth of the market during the near field communication market forecast period. On the other hand, surge in adoption of NFC-enabled wearable technology and recent technological advancements in NFC create lucrative growth opportunities for the market growth.

Market Segmentation

The NFC market is segmented on the basis of product type, operating mode, end user, and region. By product type, it is categorized into NFC tags, NFC ICs/Chips, SIM cards, NFC readers, and others. By operating mode, it is classified into read/write mode, peer-to-peer mode, and card emulation mode. By end user, it is divided into retail, transportation, automotive, residential & commercial, medical & healthcare, consumer electronics, banking & finance, hospitality, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key Players

Some of the key near field communication industry players profiled in the report include Broadcom Inc., Identive, Infineon Technologies, MagTek, NXP Semiconductors, Qualcomm Technologies, Inc., Samsung Electronics Co. Ltd., Sony Corporation, Texas Instruments Incorporated, and Thales Group. This study includes NFC market trends, near field communication market analysis, and future estimations to determine the imminent investment pockets.

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Asia-Pacific is expected to observe the highest growth rate during the forecast period, due to increased adoption and awareness of NFC technology into transportation and retail industry. In addition, high penetration of smartphones in the countries such as India and China drives the growth of the near field communication market in the region. For instance, as per the study by Omidyar Network, mobile phone penetration in India is set to rise to 85-90% by 2020 from the levels of 65-75% in 2017.

By end user, the global NFC market share was dominated by the consumer electronics segment in 2019 and is expected to maintain its dominance in the upcoming years, due to emergence of innovative consumer electronics products that integrate NFC technology. However, the healthcare segment is expected to witness the highest growth, owing to rise in adoption of near field communication to keep track of patients’ medical record. Companies introduced their new innovations such as wearable near field communication (NFC) tags for the healthcare industry. INFOSKIN is a wearable NFC tag that has multiple applications. It helps improve patient care with the automatic time stamps that helps record patient activity and allows easy maintenance and update of patient records in the healthcare & medical sector

On the basis of product type, the NFC readers segment exhibited the highest NFC market share in 2019, and is expected to maintain its dominance in the upcoming years. This is attributed to its emerging applications as well as surge in demand for NFC readers in access control and authentication applications. In addition, NFC reader comes in compact size and offers various features such as access control, payments, mass transit, and attendance check. However, the NFC tags segment is expected to witness the highest growth, due to the high demand from payments and access control applications.

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COVID-19 Scenario

● By product type, in 2019 the NFC readers dominated the NFC market size. However, the NFC tags segment is expected to exhibit significant growth during the forecast period.

● By operating mode, the peer-to-peer mode generated the highest revenue in 2019. However, the card emulation mode segment is expected to witness highest growth rate in the near future.

● By end user, the consumer electronics segment accounted for the highest revenue in 2019, however, the medical & healthcare segment is expected to witness highest growth rate during the forecast period.

● By region, the near field communication market was dominated by Asia-Pacific in 2019.

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