Top 5 Companies Dominating the Global NFC Market

The global NFC market size attained a value of around USD 36.20 billion in 2023 and is expected to grow in the forecast period of 2024-2032 at a CAGR of 28.4% to reach nearly USD 343.70 billion by 2032. As per the analysis by Expert Market Research, the market is expected to be driven by the expanding technological advancements.

Near Field Communication (NFC) is a group of short-range wireless communication technologies that typically operate within a range of 4 cm or less to establish a connection. NFC enables the exchange of small data payloads between an NFC-enabled tag and an Android-powered device, or directly between two Android devices. 

The expansion of the smartphone sector is significantly impacting the NFC market growth. As per 2023 data, about 94% of all smartphones globally are NFC-enabled. The convenience, speed, and enhanced security features offered by NFC payments are increasing its adoption. In North America, the majority of payments are made through mobile apps or via SIM cards equipped with Near Field Communication (NFC) technology. These SIM cards provide access to the fastest and most reliable internet connections, ensuring seamless and efficient transactions when using NFC-enabled terminals. 

By 2026, it is projected that 81% of all cards will be contactless, with consumer contactless spending expected to double during the same period. In the United States, the volume of NFC-enabled mobile payments is anticipated to grow from 4.4 billion transactions in 2022 to 3 billion by 2027. Additionally, by 2025, an estimated 152,200 IoT devices will be connected every minute, with NFC technology playing a key role in the setup and management of these devices.  

Table: Top Smartphone Users By Country: 2024

As per the NFC market analysis, the expansion of the retail sector supports market growth. Retailers can integrate NFC tags into products or shelving units, allowing customers to tap these tags with their NFC-enabled devices to access detailed product information, customer reviews, or promotional offers. In addition to supporting contactless payments, SOLUM ESL labels can also serve as a tool for information dissemination. These labels can link directly to a retailer's online platform, enabling customers to download digital coupons and access other relevant content.

In July 2024, REYAX Technology announced the launch of RYRR30D. This solution sets a new standard for connectivity, security, and convenience within the NFC/RFID technology sector.

Top 5 NFC Companies in the World:

Thales Group

Thales is a renowned global technology leader with more than 81,000 employees on five continents. The company has presence in 68 countries worldwide. The company operates in markets such as aerospace, defence and security, space, digital identity and security. Thales offers NFC Mobile Payment Security Review for customers ranging from Trusted Service Manager (TSM), Mobile Network Operator (MNO), Payment Service Provider (PSP) to merchants and banks. 

Broadcom Inc

Broadcom is a global infrastructure technology company based in the United States. The company specialises in semiconductors that finds use in end products such as enterprise and data center networking, home connectivity, set-top boxes (“STB”), broadband access, telecommunication equipment, smartphones and base stations, data center servers and storage systems, factory automation, power generation and alternative energy systems, and electronic displays. 

Infineon Technologies AG

Infineon Technologies AG is a prominent semiconductor company specialising in IoT and power systems. Infineon is listed on the Frankfurt Stock Exchange under the ticker symbol: IFX and in the USA on the over-the-counter market OTCQX International Premier (ticker symbol: IFNNY). Through its power systems segment, the company offers silicon, silicon-carbide, and gallium-nitride-based power, driver, microcontroller, and software solutions. The company offers NFC such as OPTIGA™ Authenticate NFC Solutions, and Secured NFC tags. 

Identiv, Inc

Identiv is a global IoT company specialising in designing, developing, manufacturing, and supplying specialty RFID, UHF, HF, NFC, and BLE solutions. Through Hirsch Security and Identity, the company offers NFC solutions such as Ucreate NFC tag kit among others. Identiv is a publicly traded company and is listed on Nasdaq capital market under the ticker symbol INVE. 

NXP Semiconductors N.V

NXP Semiconductors N.V. is a renowned semiconductor company offering expertise in domains such as cryptography-security, high-speed interface, radio frequency (RF), mixed-signal analog-digital (mixed A/D), power management, digital signal processing and embedded system design. The company is publicly traded on NADAQ stock exchange under the ticker NXPI. The company has a wide NFC portfolio including Connected NFC Tags, NFC Charging, NFC Readers, NFC Smart Tags and Labels, among others.