Near Field Communication Market To Reach $61.23 Billion By 2030

Near Field Communication Market Growth & Trends

The global near field communication market size is estimated to reach USD 61.23 billion by 2030, registering a CAGR of 12.3% from 2025 to 2030, according to a new report by Grand View Research, Inc. The industry is poised for an unprecedented growth over the forecast period owing to the increasing penetration of smartphones in the developing economy. Increasing adoption of mobile payment services has led to the intensive utilization of POS with the launch of e-wallet and Apple Watch. Banking entities, payment gateways, and payment processors are expected to expand the capabilities for accommodating the new enhanced technology. The emergence of the mobile wallet services has allowed users to pay for services through mobile devices or through cashless payment modes, which have further enhanced near field communication market growth.

The increasing demand for the NFC-based payment solutions has led the manufacturers to develop an enhanced version of the digital payment platform, further developing the market growth. Growing penetration of wearable technology devices as a significant component of Internet of Things with lowered costs have immensely contributed to the industry growth.

The emergence of mobile wallets, such as Android Pay, Apple Pay, and Samsung Pay, are also expected to further drive the substantial mobile payments growth, owing to their capability of paying through mobile phones instead of cards or any other cashless payment modes. The increasing number of vendors is expected to increase the concentration and propel the development of near field communication infrastructure, thus accelerating the market growth. The increasing need for lowering the cost of ownership and the increased convenience need will continue to dictate the market development.

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Near Field Communication Market Report Highlights

• By device operating mode, the reader emulation segment led the market with a largest revenue share of 40.8% in 2024

• Based on offering, the software segment is anticipated to expand at the fastest CAGR over the forecast period

• The retail segment held the leading revenue share in the global market in 2024 on account of the rapidly growing usage of contactless payment solutions in this industry.

Near Field Communication Market Segmentation

Grand View Research has segmented the global near field communication market based on device operating mode, offering, application, and region:

NFC Device Operating Mode Outlook (Revenue, USD Million, 2017 - 2030)

• Reader Emulation

• Peer-to-peer

• Card Emulation

NFC Offering Outlook (Revenue, USD Million, 2017 - 2030)

• Non-auxiliary Products

  • NFC ICs & Antennas

  • NFC Tags

  • NFC Readers

• Auxiliary Products

  • NFC Micro-SD Cards

  • NFC SIM/UICC Cards

  • NFC Covers

• Software

NFC Application Outlook (Revenue, USD Million, 2017 - 2030)

• Retail

• Transportation

• Automotive

• Residential & Commercial

• Medical & Healthcare

• Consumer Electronics

• BFSI

• Hospitality

• Others

NFC Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • U.K.

  • France

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Australia

• Latin America

  • Brazil

• MEA

  • Saudi Arabia

  • UAE

  • South Africa

List of Key Players in the Near Field Communication Market

• NXP Semiconductors

• Broadcom

• Qualcomm Technologies, Inc.

• SAMSUNG

• Texas Instruments Incorporated

• STMicroelectronics

• Infineon Technologies AG

• Sony Corporation

• Rambus.com

• Apple Inc.