According to the TechSci Research report, “India Near Field Communication Market - By Region, Competition, Forecast, and Opportunities, 2029,” The forecast period anticipates robust growth in the NFC market, driven by Near Field Communication (NFC), a wireless technology facilitating secure and rapid communication between closely positioned devices.
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NFC enables diverse functionalities like mobile payments, data exchange, and access control when devices are nearby. Its popularity in India is escalating due to several factors outlined in the report, including the surge in contactless payments, escalating demand for secure and convenient payment solutions, and the expansion of e-commerce and m-commerce sectors. Government initiatives promoting digital payments and cashless transactions are further expected to amplify NFC adoption.
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However, the NFC market in India encounters challenges such as low consumer awareness, limited availability of NFC-enabled devices and infrastructure, and high implementation costs. Despite these obstacles, the report forecasts substantial growth in the Indian NFC market driven by the burgeoning adoption of digital payments and the increasing need for secure transaction options.
In conclusion, while challenges persist, the NFC market in India is poised for significant expansion, propelled by the rising adoption of digital payment solutions. The report offers insights and recommendations beneficial for businesses and investors seeking to capitalize on opportunities within India's NFC 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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