![]() Smart wearables and IoT devices are becoming increasingly popular by adding more functions, despite severe space and power limitations. NFC technology has various advantages such as versatility, safety, and convenience. Also, NFC works on devices that are not driven by a battery such as smart credit cards. The important benefit of NFC over Bluetooth is a shorter set-up period. NFC enables the users to seamlessly share data between devices, use their mobile phone as an e-ticket, or pay bills wirelessly. NFC transfers data by bringing the devices closer or by touching them together. NFC is a short-range communication technique and an efficient alternative to communication technologies such as Wi-Fi and Bluetooth. Near field communication (NFC) is a wireless technology that offers an exchange of data between the NFC technologies enabled devices. The emergence of mobile wallet services has allowed users to pay for services through mobile devices or through cashless payment modes, which have further enhanced NFC market growth. Banking entities, payment gateways, and payment processors are expected to expand the capabilities for accommodating the new enhanced technology. ![]() The increasing adoption of mobile payment services has led to the intensive utilization of POS with the launch of e-wallet and Apple Watch. ![]() The increasing penetration of smartphones in the developing economy is a key driver for the growth of the market. The global NFC market is estimated to have reached USD 17.5 billion in 2020 and is further projected to reach USD 39.8 billion by 2026, growing at a CAGR of 12.4% during the forecast period. Global NFC Market Size – Industry Trends & Forecast Report 2026 Global NFC Market, By Device Operating Mode (Reader Emulation, Peer-To-Peer & Card Emulation), By Product (SD Cards, SIM Cards, Near Field Communication Cover, Near Field Communication ICS, Near Field Communication Readers, And Field Communication Tags), By Application (Access Control, Ticketing, Data Sharing, Medical Devices, Transaction, Product Identification, And Others), By Region (North America, Europe, Asia Pacific, Middle East & Africa, and Latin America) Trend Analysis, Competitive Market Share & Forecast, 2020-2026 ![]()
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