The number of Internet of Things (IoT) devices worldwide is forecast to more than double from 19.8 billion in 2025 to more than 40.6 billion IoT devices by 2034. In 2034, the highest number of IoT devices will be found in China, with around 7.51 billion consumer devices. IoT devices are used in all types of industry verticals and consumer markets, with the consumer segment accounting for around 60 percent of all IoT or connected devices in 2025. This share is projected to stay at this level over the next ten years. Major verticals and use cases Major industry verticals with currently more than 100 million connected IoT devices are electricity, gas, steam & A/C, water supply & waste management, retail & wholesale, transportation & storage, and government. Overall, the number of IoT devices across all industry verticals is forecast to grow to more than eight billion by 2033. Major use-cases The most important use case for IoT devices in the consumer segment are consumer internet & media devices such as smartphones, where the number of IoT devices is forecast to grow to more than 17 billion by 2033. Other use cases with more than one billion IoT devices by 2033 are connected (autonomous) vehicles, IT infrastructure, asset tracking & monitoring, and smart grid.

The global supply chain digital transformation market is experiencing robust growth, projected to reach $2175.7 million in 2025. While the exact CAGR isn't provided, considering the rapid technological advancements driving digitalization across industries and the significant investments made by companies in optimizing their supply chains, a conservative estimate of the CAGR for the forecast period (2025-2033) would be around 12-15%. This growth is fueled by several key drivers: the increasing need for enhanced supply chain visibility, the rising adoption of cloud-based solutions, the demand for real-time data analytics to improve decision-making, and the growing pressure to improve operational efficiency and reduce costs. The market is segmented by solution type (Digital Content Management, Digital Asset and Intellectual Property Management, Distribution and Tracking Solutions, Production and Planning Systems, Customer Relationship Management (CRM), Digital Rights and Royalties Management, and Others) and application (Manufacturing, Retail & CPG, Automotive, and Others). Major players like Capgemini, McKinsey & Company, Gartner, IBM, and others are actively shaping the market landscape through innovative solutions and strategic partnerships. The geographical distribution reflects strong growth across North America and Europe, with Asia-Pacific expected to witness significant expansion due to increasing industrialization and digital adoption in emerging economies. The market's growth trajectory is further influenced by ongoing trends such as the increasing integration of artificial intelligence (AI) and machine learning (ML) for predictive analytics and automation, the rising adoption of Internet of Things (IoT) devices for real-time tracking and monitoring, and the growing focus on sustainability and ethical sourcing within supply chains. However, challenges remain, including the high initial investment costs associated with implementing digital transformation initiatives, concerns related to data security and privacy, and the need for skilled workforce to manage and maintain complex digital systems. Overcoming these restraints will be crucial for continued market expansion and achieving the full potential of supply chain digitalization. The forecast period of 2025-2033 promises considerable growth, driven by consistent technological innovation and the evolving needs of businesses across various sectors seeking resilience and efficiency in their supply chain operations.

According to cognitive market research-"Global Near Field Communication market size 2023 was XX Million. Near Field Communication Industry compound annual growth rate (CAGR) will be XX% from 2024 till 2031."

  The NFC readers segment contributes the most to the market and is estimated to develop at a CAGR of XX% over the forecast period. NFC transactions demand active engagement from NFC readers.
  The NFC readers segment currently holds the largest market share and is predicted to grow at a CAGR of XX% over the forecast period. In reader/writer mode, a passive NFC tag or inlay communicates with an active NFC reader or smartphone in one direction.
  The consumer electronics sector is the market's largest contributor and is predicted to develop at a CAGR of XX% over the forecast period.
  North America is the largest shareholder in the worldwide near field communication (NFC) market, which is predicted to expand at a CAGR of XX% over the forecast period.
  Asia-Pacific is predicted to develop at a CAGR of xx%, earning USD XX million over the projection period. Asia-Pacific is expected to have the quickest growth rate throughout the forecast period, owing to increased NFC technology knowledge and acceptance in the retail and transportation sectors.

Current scenario of Near Field Communication market

Key drivers of the Near Field Communication market

Increasing use of contactless payment to drive the market growth

The growing demand for secure and contactless information systems and payments is one of the primary drivers of the global near-field communication (NFC) industry. The introduction of contactless near-field communication (NFC) has considerably helped the customer service, transportation, social networking, and healthcare sectors. According to a Gartner forecast from 2020, 36 billion IoT devices will support NFC-enabled mobile payments. The GSMA predicts that by 2025, smartphones with near-field communication (NFC) will account for 80% of all connections worldwide. This powerful combination of NFC and smartphones significantly propels the near-field communication (NFC) market. https://nfc-forum.org/news/2019-12-fresh-smartphone-statistics-and-what-they-mean-for-you-nfc-and-the-world/

In March 2022, Paytm, a digital payments startup, introduced "Paytm Smart POS" for Android phones, allowing merchants to accept credit and debit card payments using NFC technology. https://business.paytm.com/pos-restaurants Furthermore, an increase in the use of smart wearables and IoT-based devices is expected to drive market growth. As a result, the increasing adoption of contactless payment methods has boosted the market CAGR in recent years.

Increased demand for convenient data transfer and security driving market expansion

NFC enhances workplace collaboration by allowing for the quick and secure sharing of data, documents, and critical information. NFC is substantially better and faster than competing technologies such as Bluetooth, which takes many seconds to establish the same connection because it takes approximately 100 milliseconds. When a customer makes a transaction, their credit card information is stored on the mobile device in a secure element. This part could be a Subscriber Identity Module, protected chips, or a secure digital card. It is one of the most secure payments since it includes hardware encryption and can only be used near the point of sale. The amount of data utilised annually has increased by up to 40% year on year as a result of increased mobile use, social media, and other sensors. Companies in every industry want high-speed data transmission infrastructure more than ever to move an ever-increasing volume of content from one location to another. https://www.weforum.org/agenda/2021/05/rise-of-media-on-mobile-phone-chart/ NFC's peer-to-peer mode can be utilized not just for seamless money transfers between people, but also to exchange other types of data. The Android operating system includes a function called Android Beam. Android developers can use this feature to transfer films, photos, websites, and other files by just holding two compatible phones together.

Constraints for the global Near Field Communication market

Short operational range and security concerns

NFC can only communicate over small d...