Market Overview

Global Near Field Communication Market to Be Valued at USD 23.82 Bn by 2023


On Global Markets
, a global market research firm, released a report
on the Global
Near Field Communication Market
today. According to Research On
Global Markets, the market is expected to expand at a compounded annual
growth rate (CAGR) of 21.3% and reach an estimated worth of USD 23.82 Bn
by 2023.

Near Field Communication is the use of magnetic field induction to
exchange data across devices. An increased adoption of NFC in smartphone
usage is the main reason for the growth of this market. This is visible
from the way in which people use their devices to conduct prompt
cashless payments or cardless transportation ticketing. Other than the
fast sharing of data, it can even be used for pairing hands-free devices
to tablets or smartphones.

The Near Field Communication end user market has been segmented into
transportation, healthcare, retail, and banking and financial services.
Out of this, retail was the biggest segment.

Key highlights of this report:

  • A detailed overview of this market including specific segments,
    products type sales and countries where NFC products are sold.
  • The historical, current and forecasted data, based on parameters such
    as NFC products sales, service industries that utilize NFC, mode of
    operation and geographical divisions.
  • Qualitative analysis of what drives this market and challenges
    prevalent in various segments.
  • Competitive analysis of the major players and their performances.

This report has been formulated and designed with the purpose of giving
businesses a concise understanding of the Near Field Communication
Market, support market or business dynamics, and help brands identify
their major competitors and define strategies.

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