Near Field Communication (NFC) Systems

Near Field Communication (NFC) Systems

Global Near Field Communication (NFC) Systems Market to Reach $55.9 Billion by 2027

In the changed post COVID-19 business landscape, the global market for Near Field Communication (NFC) Systems estimated at US$22.9 Billion in the year 2020, is projected to reach a revised size of US$55.9 Billion by 2027, growing at a CAGR of 13.6% over the period 2020-2027. Hardware, one of the segments analyzed in the report, is projected to record 13% CAGR and reach US$34.6 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Software segment is readjusted to a revised 14.6% CAGR for the next 7-year period.

The U.S. Market is Estimated at $6.8 Billion, While China is Forecast to Grow at 13.1% CAGR

The Near Field Communication (NFC) Systems market in the U.S. is estimated at US$6.8 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$9.8 Billion by the year 2027 trailing a CAGR of 13.1% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 12.1% and 11.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 9.9% CAGR.

Select Competitors (Total 46 Featured) -

• Broadcom Ltd.
• INSIDE Secure
• MediaTek, Inc.
• NXP Semiconductors NV
• Qualcomm, Inc.
• Renesas Electronics Corporation
• SanDisk Corporation
• Smartrac NV
• Sony Corporation
• STMicroelectronics NV

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