United States Near Field Communication (NFC) Market Size was valued at USD 5.2 Billion in 2022. The near field communication (NFC) market industry is projected to grow from USD 5.88 Billion in 2023 to USD 15.871 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 13.20% during the forecast period (2024 - 2032). The primary market drivers propelling the growth of the Near Field Communication (NFC) market in the United States are the widespread usage of smartphones and the growing trend of M-commerce.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
In the area of medical applications, NFC also has several benefits. A viable strategy suggests a number of health monitoring techniques and the use of NFC to record patients' health status. NFC patient monitoring uses the best medical technology available, such as smart sensors, to detect a patient's physical state and send the information to mobile networks, nearby monitoring devices, and medical personnel for review and monitoring. Furthermore, the industry is expanding due to the growing use of wearable technology, as NFC finds significant use in contemporary wearables. The "MiniME," a biometric gadget created by Ergonomi design monitors, is another example of NFC's advancements in patient monitoring. It transmits data via NFC cloud and measures factors including blood pressure, heart rate, body temperature, and ECG. Moreover, the medical industry is evolving due to the swift advancement and uptake of information technologies. As an illustration, the United States Food and Drug Administration (FDA) has established regulations pertaining to the security, efficacy, and safety of medical devices within the nation. Thus, it is anticipated that near-field communication will account for the majority of the healthcare market in the United States.
Nowadays, consumers' lives are significantly impacted by their smartphones. Customers in the United States are utilizing their smartphones in addition to more conventional forms of communication to make payments more quickly and easily. NFC is a handy payment method since it allows users to share digital content, conduct mobile transactions, and touch-enable gadgets with one another. It does this by combining a user's mobile device and wallet. NFC-enabled cell phones are, therefore, becoming more prevalent. This supports NFC technology's development and current trends. For instance, in the United States, the use of cell phones and smartphones is at an unprecedented level. With more than 310 million smartphone users as of 2023, the United States has one of the largest smartphone markets in the world. Thus, driving the near field communication (NFC) market revenue.
The United States Near Field Communication (NFC) market segmentation, based on product type, includes Non-auxiliary Products and Auxiliary Products. The non-auxiliary products segment dominated the market mostly because the expansion of non-auxiliary items in the NFC market has been facilitated by the increased use of NFC technology in smartphones. The term "non-auxiliary NFC products" refers to internal NFC-enabled accessories, such as NFC ICs or chips, which are intended for use with smartphones to facilitate secure data transfer, contactless payment, and access control. The expansion of non-auxiliary items in the NFC industry has been driven by the increased use of NFC in smartphones.
Figure 1: United States Near Field Communication (NFC) Market, by Product Type, 2023 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The United States Near Field Communication (NFC) market segmentation, based on application, includes Smartphones & Tablets, PCs & Laptops, and Others. The smartphone category generated the most income. Contactless payments, access control, and data transfer are just a few of the applications made possible by NFC technology. It also allows for smooth communication between devices. The market is anticipated to grow as more consumers take advantage of the convenience and security provided by NFC-enabled devices, which is fueled by the growing acceptance of mobile payment solutions and the integration of NFC in smartphones.
The major market share in the region is expected to belong to the United States. Among the elements bolstering the country's market expansion are the growing need for home-based monitoring and the volume of mobile and contactless payments. It is expected that the near-field communication market will grow dramatically in the United States, in addition to the broad acceptance of NFC solutions in banking, retail, healthcare, and finance. Furthermore, by integrating mobile payment technology into all new phones and ensuring that apps function with all payment options available, United States mobile phone manufacturers are facilitating simpler access to this technology. In addition, regarding medical data security, the United States public has taken significant action. There is a growing number of medication errors in the United States, which can have a negative impact on patients' health, healthcare expenses, and utilization. National expansion in the market is fueled by NFC's ability to lower prescription mistakes and potential adverse drug events (ADEs).
United States Near Field Communication (NFC) Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the near field communication (NFC) market grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the near field communication (NFC) industry must offer cost-effective items.
Major players in the near field communication (NFC) market are attempting to increase market demand by investing in research and development operations, including Gemalto, Infineon, NXP, Broadcom, Inside Secure, and MediaTek.
Gemalto
NXP
Broadcom
Inside Secure
MediaTek
February 2023: By acquiring Hypercom Corporation, VeriFone sought to strengthen its position in the payment terminal industry, which may have an effect on how well its products integrate NFC payment solutions.
April 2020: Cypress Semiconductor Corporation was acquired by Infineon Technologies AG. By doing this, the business would be able to provide its clients with the most extensive portfolio in the market, helping them to connect the virtual and physical worlds and influence digitalization—one of the biggest worldwide trends.
Non-auxiliary Products
Auxiliary Products
Smartphone & Tablets
PCs & Laptops
Others
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 5.2 Billion |
| Market Size 2023 | USD 5.88 Billion |
| Market Size 2032 | USD 15.871 Billion |
| Compound Annual Growth Rate (CAGR) | 13.20% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2019- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product Type, Application, and Region |
| Countries Covered | United States |
| Key Companies Profiled | Gemalto, Infineon, NXP, Broadcom, Inside Secure, and MediaTek |
| Key Market Opportunities | Increasing Number of Contactless Payment Systems |
| Key Market Dynamics | Growing NFC Adoption in Public Services and Smart Cities Integration with IoT Ecosystems and Wearable Devices |
Frequently Asked Questions (FAQ) :
The United States Near Field Communication (NFC) market size was valued at USD 5.88 Billion in 2023.
The market is projected to grow at a CAGR of 13.20% during the forecast period, 2024-2032.
The key players in the market are Gemalto, Infineon, NXP, Broadcom, Inside Secure, and MediaTek, among others.
The non-auxiliary products category dominated the market in 2023.
The smartphone category had the largest share of the market.
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