Near Field Communication (NFC) Market Overview

Near Field Communication is a remote communication network, with its popularity increasing recently. The trend of popularity of Near Field Communication system stems from the fact that it is a short reach correspondence system that helps multiple gadgets to share data and communicate. Moreover, in a gadget dominant world, a recent innovation like the Near Field Communication system is important. Therefore, it is unsurprising that the NFC market is growing at a tremendous rate today. The Near Field Communication (NFC) Market Size increases due to the advancement in technology usage in different fields.

In terms of figures and numbers, the Near Field Communication (NFC) Market Size projects a CAGR of 17 percent in the near future. Thus, the market overview and trends are very promising for the Near Field Communication applications. Moreover, a double-digit growth rate means that the NFC market welcomes investments with great returns in the future. The near field communication (NFC) market industry is projected to grow from USD 22.9 Billion in 2022 to USD 58.6 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 14.3% during the forecast period (2022 - 2030). The entry of smartphone applications into the market segment promises of expansion of the Near Field Communication (NFC) Market Size.  Additionally, the effect of COVID 19 will also impact the growth of the NFC market.

Get free sample report @ https://www.marketresearchfuture.com/sample_request/1590

Market Segmentation

Like all other industries, the Near Field Communication Market Industry also has market segmentation based on many factors and parameters. In the following section, the market segmentation is in detail: The segmentation of the Near Field Communication Market Industry starts with the technology’s applications. The Near Field Technology is applied in the retail industry as well as in the automotive industry. In fact, in the retail industry, it applies in access control, transaction, and product identification. Similarly, in the automotive industry, it applies in the areas of ticketing and access control. One of the major fields where Near Field Communications applies is in banking and finance. Near Field Communication systems control e-money services and Access control today.  Moreover, in the hospitality industry, Near Field Communication Systems control transactions. Since the communication systems handle such sensitive areas of correspondence and transactions, the systems are highly secure in design.

Browse Complete Report @   https://www.marketresearchfuture.com/reports/global-near-field-communication-market-1590

Latest Company Updates:

Nov.22, 2023,The Connectivity Standards Alliance (CSA) unveiled a communication protocol, Aliro protocol, to support interoperability and promote digital access adoption for mobile device and access control reader companies.

With a common credential, the new standardized communication protocol promotes interoperability between mobile devices, wearables, and access control readers that use technologies including NFC, BLE, and ultra-wideband (UWB). With the Aliro protocol launch, the CSA aims to foster widespread adoption of consumer electronic devices by enabling a consistent experience across certified hardware and the adoption of digital access solutions.

Sep. 21, 2023,South Korean researchers at Electronics and Telecommunications Research Institute (ETRI), Dongeui University, and Daejon University announced adding a new trick to near-field communication (NFC) technology, internet connectivity, as the proposed standard RFC 9428. The new proposed standard, RFC 9428, brings full internet connectivity (IPv6 connectivity) to NFC devices at a four-inch range to otherwise disconnected NFC-equipped devices.

Sep. 02, 2023,the National Payments Corporation of India (NPCI) introduced credit, field communication (NFC-based payments to scale UPI service. The new offerings include a credit line on UPI, UPI Lite X for offline payments, and an NFC-enabled Tap Pay feature, conversational payments through Hello! UPI and conversational bill payments with BillPay Connect.

Aug. 10, 2023,the Reserve Bank of India announced Conversational Payments on UPI to ease customer experience in the payment system. It also announced NFC in offline payments via UPI Lite, besides enhancing transaction limits for small-value digital payments to Rs 500 from Rs 200 in UPI Lite. New UPI features will enable users to converse with an AI-powered system to do transactions. Conversational Payments on UPI will be available in smartphones and feature phones-based UPI channels.

Regional Overview

The growth of the Near Field Communication Market Industry divides progress over different areas of the globe. The biggest market for Near Field Communication technologies is the USA. In the USA, the communication technology application enhances the data security linked with clinical and medication data. The Food and Drug Administration also shows special interest in NFC technology. Therefore, all of these facts corroborate the conclusion that North America is the leading regional market for Near Field Communication technology. In addition to this, the major market players of the NFC market belong to the countries of the Netherlands, Switzerland, and the USA. In conclusion, the USA is the dominant country in the Near Field Communication Market Industry.

Read More @

Blu-ray Players Market Research Report - Global Forecast 2032       

Wi-Fi Booster Market Research Report- Forecast 2030         

Global Portable Gaming Console Market Research Report- Forecast to 2027          

Portable Electronics Market Research Report- Global Forecast 2032            

Contact us:

Market Research Future®,

99 Hudson Street,

 5Th Floor,

New York, New York 10013,

United States of America

Phone: +1 628 258 0071(US),+44 2035 002 764(UK)

Email: sales@marketresearchfuture.com