India Near Field Communication (NFC) Market to Gain From Rising Smartphone User Base
The
increasing penetration of smartphones and the rising demand for contactless
payments are likely to drive the India near field communication market during
the forecast period.
According
to the TechSci Research report, “India Near Field Communication Market - By
Region, Competition, Forecast, and Opportunities, 2029,” the market is
expected to register robust growth during the forecast period. Near Field
Communication (NFC) is a wireless technology that offers secure and quick
communication between two devices that are close together.
The
NFC technology allows two devices to communicate wirelessly when they are in
close proximity, enabling a variety of functions such as mobile payments, data
sharing, and access control. The technology is gaining widespread popularity in
India due to the increasing the report highlights the factors driving the
growth of the NFC market in India, including the increasing use of contactless
payments, the rising demand for secure and convenient payment solutions, and
the growth of e-commerce and m-commerce. Additionally, the government's
initiatives to promote digital payments and cashless transactions are also
expected to boost the growth of the NFC market in India. The report also
identifies the major challenges faced by the NFC market in India, such as the
lack of awareness and understanding of the technology among consumers, the
limited availability of NFC-enabled devices and infrastructure, and the high
cost of implementation.
Despite
these challenges, the report predicts that the NFC market in India will
experience significant growth over the forecast period, driven by the
increasing adoption of digital payments and the growing demand for secure and
convenient payment solutions.
The
NFC market in India is poised for significant growth in the coming years,
driven by the increasing adoption of digital payments and the growing demand
for secure and convenient payment solutions. However, the market still faces
several challenges that need to be addressed in order to unlock its full
potential. The report provides valuable insights and recommendations for
businesses and investors looking to capitalize on the opportunities in the NFC
market in India.
Browse
over XX market data Figures spread through XX Pages and an in-depth TOC on the "India Near Field Communication Market.”
The
India Near Field Communication market is segmented into product type, device
operating mode, end-use industry and region. Based on product type, the market
is segmented into non-auxiliary products, auxiliary products. based on device
operating mode, the market is divided into reader emulation, card emulation and
peer-to-peer. Based on device type, the market is segmented into smartphones
& tablets, laptops & personal computers (PCs) and others. Based on
application, the market is segmented into mobile/contact less payment,
information sharing, user authentication & access control, monitoring
healthcare systems and others. Based on end-use industry, the market is
segmented into retail, transportation, healthcare, and others.
Regionally,
the western region is expected to register the fastest-growth in the India Near
Field Communication market during the forecast period. The growing demand for
contactless payments and IoT devices in the western region is projected to
support this regional market over the next few years.
Key
market players in the India Near Field Communication Market include:
- Nokia
Corporation
- NXP
Semiconductors
- Marvell
Technology Group Ltd
- Google
Inc.
- Gemalto
NV
- Infineon
Technologies AG
- YELDI
Softcom
- Sony
Corporation
- Identive
Group Inc.
- Mstar
Semiconductor Inc.
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“The
India near field communication market is expected to grow significantly during
the forecast period, owing to an increase in the number of NFC enabled mobile
devices, along with the involvement of financial institutes for collaborating
with smartphone manufacturers, such as Apple, Samsung, and others to allow card
emulation of debit/credit cards, thus playing a pivotal role in boosting demand
for NFC technology across the country. The Near Field Communication market in
India is anticipated to rise steadily in the upcoming years,“ said Mr. Karan
Chechi, Research Director at TechSci Research, a research based global
management consulting firm.
India
Near Field Communication Market By Product Type (Non-Auxiliary Products,
Auxiliary Products), Device Operating Mode (Reader Emulation, Card
Emulation, Peer-to-Peer), Application (Mobile/Contact Less Payment, Information
Sharing, User Authentication & Access Control, Monitoring Healthcare
Systems, Others), Device Type (Smartphones & Tablets, Laptops &
Personal Computers, Others), End-Use Industry (Retail, Transportation, Healthcare,
BFSI, Others), Region, Competition, Forecast & Opportunities, 2029 has assessed the India Near Field
Communication market's future development potential and provides data and
information on market size, structure, and projected market growth. The
report's goal is to give current market knowledge and assist decision makers in
making informed investment decisions. Furthermore, the study identifies and
analyses emerging trends, and key drivers, constraints, and opportunities in
the India Near Field Communication market.
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