The North America Near Field Communication (NFC) Market would witness market growth of 11.4% CAGR during the forecast period (2024-2031).
The US market dominated the North America Near Field Communication (NFC) Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $16,790.7 million by 2031. The Canada market is experiencing a CAGR of 13.7% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 12.9% during (2024 - 2031).
Near field communication (NFC) is a set of communication protocols that enable two electronic devices, typically mobile devices, to exchange data over short distances, typically within 4 cm (1.5 inches). NFC is a subset of RFID (Radio Frequency Identification) technology, and it operates in the high frequency (HF) 13.56 MHz band. While technology may seem relatively simple, its applications, adoption, and innovations have made it a cornerstone of modern connectivity, especially in consumer electronics, healthcare, retail, and more.
NFC’s broad applicability stems from its simplicity, speed, and ability to securely transmit small amounts of data. One of the most common uses of NFC technology is in mobile payments. NFC-enabled smartphones, tablets, and smartwatches allow users to make secure payments by simply tapping their devices against an NFC payment terminal. Popular digital wallets like Apple Pay, Google Pay, and Samsung Pay leverage NFC technology to facilitate contactless transactions, ensuring that users can quickly and securely pay for goods and services.
In Mexico, the retail sector is experiencing significant growth, with an estimated revenue of USD 76 billion in 2023. This increase in revenue underscores the expanding retail landscape, which is seeing greater adoption of digital technologies, including NFC, to improve customer experiences and streamline operations. Retailers in Mexico are increasingly adopting NFC-enabled point-of-sale systems to facilitate faster, secure, and contactless payments. The proliferation of NFC-enabled devices, such as mobile phones and smartcards, enhances the convenience and security of transactions, aligning with the growing demand for digital payment solutions. Furthermore, NFC can support other retail applications, such as loyalty programs, inventory tracking, and customer engagement, driving further adoption of NFC technologies in Mexico’s dynamic retail environment. Hence, the rising electronics industry and expansion of the region's retail sector are driving the market's growth.
Free Valuable Insights: The Near Field Communication (NFC) Market is Predict to reach USD 66.0 Billion by 2031, at a CAGR of 12.0%
Based on Device Operating Mode, the market is segmented into Reader Emulation, Card Emulation, and Peer-to-peer. Based on Offering, the market is segmented into Non-auxiliary Products (NFC Tags, NFC ICs & Antennas, and NFC Readers), Auxiliary Products (NFC Micro-SD Cards, NFC SIM/UICC Cards, and NFC Covers), and Software. Based on Application, the market is segmented into Retail, Transportation, Automotive, Consumer Electronics, BFSI, Medical & Healthcare, Residential & Commercial, Hospitality, and Other Application. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Device Operating Mode
By Offering
By Application
By Country
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