The global Near Field Communication (NFC) market is projected to experience substantial growth, driven by the surge in contactless payments, smartphone integration, and adoption in smart packaging. The market is expanding rapidly from its 2024 valuation.
Chicago, Jan. 28, 2026 (GLOBE NEWSWIRE) — According to recent data from Astute Analytica, the Near Field Communication market was valued at US$ 25.7 billion in 2024 and is projected to hit the market valuation of US$ 55.4 billion by 2033 at a CAGR of 8.9% during the forecast period 2025–2033.
At the core of the NFC market’s explosive growth lies a massive and rapidly expanding base of digital wallet users. In 2024, the number of people using digital wallets surged to 4.3 billion, reflecting widespread acceptance and integration of mobile payment technology across diverse demographics and regions. Projections indicate that by the end of the year, this figure will climb further to between 5.0 and 5.2 billion users, showcasing the technology’s deepening penetration into everyday financial transactions worldwide.
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A significant subset of this user base—over 2.7 billion people in 2024—actively engage in mobile payments, using their devices for seamless, contactless transactions. This segment is not only large but also rapidly expanding, with forecasts estimating that mobile payment users will rise to 4.8 billion by 2025. This growth highlights the increasing consumer trust in mobile wallets as secure and convenient alternatives to cash and traditional card payments, driving the NFC market’s continued momentum.
NFC: Driving a Seamless Charging Experience for Electric Vehicles
As the electric vehicle (EV) market accelerates its growth, Near Field Communication (NFC) technology is emerging as a vital enabler for creating a frictionless and user-friendly charging experience. Traditional EV charging often involves juggling multiple proprietary apps or membership cards, which can be cumbersome and confusing for drivers. NFC simplifies this process by allowing users to simply tap their smartphone or an NFC-enabled card at a charging station to authenticate their identity and initiate payment instantly.
One of the most significant benefits of NFC in EV charging is its ability to establish a universal, standardized interface that transcends the fragmentation of existing solutions. By eliminating the need for multiple apps or separate cards tied to different charging networks, NFC creates a common protocol that drivers can rely on regardless of the station operator. This universality not only enhances user convenience but also encourages wider adoption of electric vehicles by reducing barriers related to charging infrastructure.
The integration of NFC with the ISO 15118 “Plug & Charge” standard further advances the automation of the charging experience. ISO 15118 facilitates secure, automated communication between the electric vehicle and the charging station, allowing billing and authentication to occur seamlessly without manual input from the driver. When combined with NFC, this standard enables a fully automated process where drivers simply connect their vehicle, and the system handles authentication, authorization, and payment in the background.
NFC’s Expanding Role in Secure Access and Identity
A major catalyst fueling new demand in the NFC market is the technology’s growing prominence in secure access and identity verification. As organizations seek more efficient and secure ways to control entry, mobile credentials are quickly becoming the preferred alternative to traditional physical cards. By 2024, nearly 40% of organizations have adopted mobile credential systems, signaling a rapid shift toward digital identity solutions that leverage NFC’s convenience and security features.
The mobile credential access control market reflects this momentum, with a valuation of $2.1 billion in 2024. This substantial figure highlights the scale of investment organizations are making to enhance security protocols and streamline access management. Mobile credentials not only reduce the risks associated with lost or stolen physical cards but also enable dynamic access permissions that can be updated instantly, improving operational flexibility and user experience.
This access control revolution is not limited to enterprises; it is making significant inroads into the residential sector as well. Between 2022 and 2024, over 72 million smart locks were shipped globally, many equipped with NFC technology to support keyless entry. The surge in smart lock adoption reflects homeowners’ growing preference for secure, convenient access solutions that eliminate the need for traditional keys. New smart lock models released in 2024 continue to integrate NFC, reinforcing the technology’s role as a cornerstone of modern residential security.
Non-Auxiliary Products: The Backbone of the NFC Market
Non-auxiliary products, which include essential hardware components such as NFC tags, integrated circuits (ICs), antennas, and readers, form the foundational engine driving the NFC market. This segment commands a substantial 56% of the market’s total revenue, underscoring its critical role in enabling the functionality of NFC technology. In the absence of these core components, sophisticated contactless experiences for consumers and businesses would simply not be possible.
A key factor behind the dominance of non-auxiliary products is the massive volume of NFC-enabled devices being produced globally. In 2024 alone, an estimated 534.6 million wearable units are expected to ship, each embedded with an NFC IC and antenna necessary for seamless communication and functionality. This surge in wearable technology not only boosts demand for the underlying hardware but also drives innovation as manufacturers seek smaller, more efficient, and cost-effective components to integrate into diverse form factors.
Beyond wearables, the versatility and steadily declining costs of NFC tags have unlocked a wide spectrum of applications that extend far beyond traditional payment systems. These tags are increasingly used in areas such as supply chain management, access control, marketing campaigns, and smart packaging, creating new use cases that fuel further production and integration. As NFC technology becomes more accessible and affordable, the non-auxiliary product segment is poised to continue its strong growth trajectory, cementing its role as the backbone of the expanding NFC ecosystem.
Card Emulation Mode: The NFC Market Leader
Card emulation mode dominates the NFC market with an impressive 44% share of total revenues, solidifying its position as the undisputed leader in the space. This technology allows mobile devices to mimic physical payment cards, enabling seamless contactless transactions that have become integral to modern consumer behavior. Its widespread adoption is fueled by a massive and rapidly growing global user base, estimated to reach 5.2 billion mobile wallet users by the end of 2024.
The economic significance of card emulation mode is truly staggering. In 2024, the total value of global contactless payments is projected to soar to $15.3 trillion, highlighting how deeply embedded this technology has become in everyday commerce. Notably, the average transaction value is expected to rise to $78 in 2024, signaling increasing consumer confidence and a willingness to use contactless payments for higher-value purchases.
Supporting this thriving market is a robust network of merchants equipped to handle contactless payments. In the United States alone, approximately 12 million merchants are ready to accept card emulation transactions, creating a fertile environment for continued expansion through 2025 and beyond. This widespread merchant adoption ensures that consumers can use NFC-enabled mobile wallets almost anywhere, driving further growth and cementing card emulation mode’s pivotal role in the future of digital payments worldwide.
North America Leads the Global NFC Revolution
North America, and particularly the United States, stands at the forefront of the global Near Field Communication (NFC) market, commanding an impressive market share exceeding 33%. This leadership is anchored in a longstanding consumer preference for card payments, which has naturally evolved into widespread adoption of contactless payment technology. The transition to NFC-based transactions has been seamless, reflecting both consumer readiness and a well-established payments ecosystem.
By 2024, the number of proximity mobile payment users in the U.S. is expected to surge to 111.8 million, illustrating the technology’s deep penetration into everyday life. These users are not just making small purchases; they are increasingly relying on mobile wallets for substantial transactions. The projected total value of mobile wallet point-of-sale transactions is expected to reach a staggering $670.5 billion in 2024, underscoring the growing trust and convenience that NFC technology offers consumers.
Supporting this explosive growth is a robust and rapidly expanding infrastructure. As of 2022, the United States boasted over 23 million contactless payment terminals, a figure that continues to climb steadily through 2024. This widespread availability of NFC-enabled terminals ensures that consumers can take advantage of contactless payments almost everywhere, reinforcing the technology’s dominant role in shaping the future of retail and financial transactions across North America.
Top Companies in the Near Field Communication Market
- Apple Inc.
- Broadcom Inc.
- HID Global
- Huawei Technologies
- Infineon Technologies AG
- Marvell Technology Group
- NXP Semiconductors
- Qualcomm Technologies
- Renesas Electronics
- Samsung Electronics
- Smartrac Technology
- Sony Group Corp.
- STMicroelectronics N.V.
- Texas Instruments Inc.
- Thales (Gemalto)
- Toshiba Electronic Devices and Storage Corp.
- Zebra Technologies Corp.
- Other Prominent Players
Market Segmentation Overview
By Operating Mode
- Reader Emulation
- Peer-to-peer
- Card Emulation
- Charging Mode
By Offering
- Non-auxiliary Products
- Auxiliary Products
- Services
By Application
- Retail
- BFSI
- Healthcare
- Automotive
- Residential & Commercial
- Transportation
- Medical & Healthcare
- Consumer Electronics
- Hospitality
- Others
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
For more information about this report visit: https://www.astuteanalytica.com/industry-report/near-field-communication-market
About Astute Analytica
Astute Analytica is a global market research and advisory firm providing data-driven insights across industries such as technology, healthcare, chemicals, semiconductors, FMCG, and more. We publish multiple reports daily, equipping businesses with the intelligence they need to navigate market trends, emerging opportunities, competitive landscapes, and technological advancements.
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CONTACT: Contact Us: Astute Analytica Phone: +1-888 429 6757 (US Toll Free); +91-0120- 4483891 (Rest of the World) For Sales Enquiries: sales@astuteanalytica.com Website: https://www.astuteanalytica.com/
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