Near Field Communication (NFC) Tags Market Set to Surge: Key Trends and Projections Through 2030

Near Field Communication (NFC) Tags Market Expected to Reach $15.58 Billion by 2030

WILMINGTON, DE, UNITED STATES, November 5, 2024 /EINPresswire.com/ -- Allied Market Research, titled, “Near Field Communication (NFC) Tags Market by Tag Types, Application, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global near field communication (NFC) tags market size was valued at $3.80 billion in 2020, and is projected to reach $15.58 billion by 2030, registering a CAGR of 15.6%. Asia-Pacific is expected to be the leading contributor to the global market during the forecast period, followed by Europe and LAMEA.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 & 𝐓𝐎𝐂: https://www.alliedmarketresearch.com/request-sample/A09845

NFC (Near field communication) tag are RFID transponders that consist of an antenna, IC (integrated circuits), PET (Polyethylene terephthalate) substrate, adhesive package, and release liner. In these NFC tags, the IC contains a unique ID & a part of rewritable memory, and the antenna permits the IC to interact with an NFC scanner/reader, like an NFC smartphone.

The growth of the global near field communication (NFC) tags market share is anticipated to be driven by factors such as the rising popularity of NFC tag-based payment, and the growing penetration of NFC-enabled mobile phones. In addition, growth in the need for convenient transfer and security of data boosts the overall market growth. However, the availability of alternatives to NFC tags acts as a major restraint of the global NFC tags industry. On the contrary, high demand from the Asia-Pacific region is expected to create lucrative opportunities for the NFC tags industry.

Moreover, developing nations tend to witness high penetration of NFC tags products, especially in the banking & finance sector, which is anticipated to augment the market growth. Factors, such as an increase in demand for contactless payments, accelerate the market growth.

The global near field communication (NFC) tags market share is segmented into tag types, applications, industry verticals, and regions. By tag types, the market is classified into type 1, type 2, type 3, type 4, and type 5. Depending on the application, it is categorized into smart card, tracking, payments, and others. Based on industry vertical, the market is fragmented into automotive, transportation, retail, medical & healthcare, banking & finance, agriculture, aerospace & defense, consumer electronics, and others.

Region-wise, the near field communication (NFC) tags market trends have been analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America contributed the maximum revenue in 2020. However, between 2020 and 2030, the Asia-Pacific Near field communication (NFC) tags market is expected to grow at a faster rate as compared to other regions. This is attributed to an increase in demand from emerging countries such as India, China, Japan, Taiwan, and South Korea.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮’𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/A09845

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

The Near Field Communication (NFC) Tags industry's key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.

𝐒𝐨𝐦𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐦𝐚𝐣𝐨𝐫 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐍𝐞𝐚𝐫 𝐅𝐢𝐞𝐥𝐝 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧 (𝐍𝐅𝐂) 𝐓𝐚𝐠𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞,

Broadcom Inc.
Identiv Inc.
Infineon Technologies
NXP Semiconductors
Qualcomm Technologies, Inc.
Samsung Electronics Co. Ltd
Sony Corporation
STMicroelectronics
Texas Instruments Incorporated
Thales Group

The outbreak of COVID-19 has significantly affected the electronics and semiconductor sector. Business and manufacturing units across various countries were closed, owing to the increase in several COVID-19 cases, and are expected to remain closed in 2021. Furthermore, partial or complete lockdown has disrupted the global supply chain posing challenges for manufacturers to reach customers.

The COVID-19 pandemic is impacting the society and overall economy across the globe. The impact of this outbreak is growing day by day as well as affecting the overall business globally. The crisis is creating uncertainty in the stock market and is resulting in falling business confidence, massive slowing of the supply chain, and increasing panic among the customer segments.

Asian and European countries under lockdowns have suffered major losses of business and revenue due to the shutdown of manufacturing units. The operations of the production and manufacturing industries have been heavily impacted by the outbreak of the COVID-19 disease, which further impacted the growth of the Near field communication (NFC) tags market.

In addition, the COVID-19 pandemic has impacted the electronics sector, as production facilities have stalled, which, in turn, boosted the demand for electronics and semiconductor products in the industries. Its major impact includes large manufacturing interruptions across Europe and interruption in Chinese parts exports, which may hinder the Near field communication (NFC) tags market.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐛𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A09845

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲

- The payments segment is projected to be the major application, followed by smart cards.
- Asia-Pacific and North America collectively accounted for more than 67% of the Near field communication (NFC) tags market share in 2020.
- Japan is anticipated to witness the highest growth rate during the forecast period.
- The U.S. was the major shareholder in the North America Near field communication (NFC) tags market, accounting for approximately 68% share in 2020.
- Region-wise, the Near field communication (NFC) tags market was dominated by North America. However, Asia-Pacific is expected to witness significant growth in the coming years.

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports consider significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on analyzing high-tech and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.

David Correa
Allied Market Research
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