According to a market report by Lucintel, the future of the near field communication market looks promising with opportunities in the retail, transportation, automotive, residential and commercial, medical and healthcare, and consumer electronics industries. The near field communication market is expected to grow with a CAGR of 17% from 2019 to 2024. The major drivers for this market are decreasing prices of NFC chips, adoption of mobile commerce, increasing volume of cashless transactions, and growing adoption of smart appliances.
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In this market, card emulation, reader emulation, and peer-to-peer are the major operating mode type. Peer-to peer operating mode is the largest segment. Within the near field communication market, retail, transportation, automotive, residential and commercial, medical and healthcare, and consumer electronics are the major end use industries. Retail is the largest end use industry for near field communication market. Non-auxiliary and auxiliary are the major product and software types of the near field communication market.
APAC will remain the largest market over the forecast period.
NXP Semiconductors, Broadcom, STMicroelectronics, MediaTek, Renesas Electronics, Gemalto, and Texas Instruments are among the major players of the near field communication market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the near field communication market by operating mode, product and software, end use industry, and region. Lucintel has prepared a comprehensive research report entitled "Growth Opportunities in the Near Field Communication Market 2019-2024: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the near field communication market by operating mode, product and software, end use industry, and region as follows:
By Operating Mode [$M shipment analysis for 2013 – 2024]:
Card Emulation
Reader Emulation
Peer-To-Peer
By Product and Software [$M shipment analysis for 2013 – 2024]:
By End Use Industry [$M shipment analysis for 2013 – 2024]:
Retail
Transportation
Automotive
Residential and Commercial
Medical and Healthcare
Consumer Electronics
By Region [$M shipment analysis for 2013 – 2024]:
North America
United States
Canada
Mexico
Europe
Asia Pacific
Rest of the World
This 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/near-field-communication-market.aspx or helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.