India Near Field Communication Market: Insight into Industry Size, Share, and Trends
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TechSci Research’s report on the “India Near Field Communication (NFC) Market – By Region, Competition, Forecast, and Opportunities, 2029” anticipates robust growth in the market during the forecast period. NFC, a wireless technology facilitating secure and rapid communication between nearby devices, is gaining traction in India, primarily driven by factors such as the increasing use of contactless payments, growing demand for secure payment solutions, and the expansion of e-commerce and m-commerce. Government initiatives promoting digital payments and cashless transactions further bolster this trend.
Despite challenges like consumer awareness, limited availability of NFC-enabled devices and infrastructure, and high implementation costs, the report predicts significant growth in the Indian NFC market. This growth will be propelled by the escalating adoption of digital payments and the rising demand for secure and convenient payment solutions.
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The India NFC market is segmented based on product type, device operating mode, device type, application, end-use industry, and region. Product types include non-auxiliary and auxiliary products, while device operating modes encompass reader emulation, card emulation, and peer-to-peer communication. Smartphones & tablets, laptops & personal computers, and others constitute device types. Applications include mobile/contactless payment, information sharing, user authentication & access control, and monitoring healthcare systems, among others. End-use industries span retail, transportation, healthcare, and more.
Regionally, the western region is poised to witness the fastest growth in the Indian NFC market, driven by the rising demand for contactless payments and IoT devices.
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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Mr. Karan Chechi, Research Director at TechSci Research, anticipates significant growth in the India NFC market, attributed to the increasing number of NFC-enabled mobile devices and collaborations between financial institutions and smartphone manufacturers like Apple and Samsung to enable card emulation of debit/credit cards.
The report, “India Near Field Communication Market By Product Type, Device Operating Mode, Application, Device Type, End-Use Industry, Region, Competition, Forecast & Opportunities, 2029,” provides insights into the future development potential of the Indian NFC market. It aims to equip decision-makers with current market knowledge to facilitate informed investment decisions, while also identifying emerging trends, key drivers, constraints, and opportunities in the market landscape.
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