Near Field Communication Market - Payment Techniques is Improved & Security Connectivity Features

Near Field Communication (NFC) is a wireless technology and mainly finds application in mobile phones and tablets PC for data exchange and transactions in a close range. It is based on RFID technology and has emerged as an alternative to other wireless technologies for short range data exchange such as Wi-Fi, Bluetooth and other radio protocols.

NFC offers added advantage of high security As compared to other wireless technologies. The NFC market has gained significant momentum in recent years due to the ease of using NFC technology and its wide range of applications in various sectors.

NFC technology has emerged as a strong contender for replacement of the current transaction and payment techniques owing to its improved security and connectivity features. Products in the NFC market have been categorized into NFC controller ICs (chips), NFC tags, NFC readers and NFC secure elements.

NFC secure elements further include NFC micro SD cards, embedded secure elements (SE), NFC subscriber identity module / universal integrated circuit card (SIM/UICC cards). Demand for NFC controller ICs, NFC readers, NFC secure elements and NFC tags is growing across the world.

Increasing prevalence of contactless payments across the globe and its application in various sectors is responsible for the growth of the NFC readers and NFC tags market in the last few years. NFC-enabled devices are expected to replace payment cards and authentication and access cards in the coming years to a significant extent.

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Worldwide, the shipment for NFC-enabled cellular handsets stood at 264.5 million units in 2013. The mobile phone and tablet manufacturers are increasingly including NFC features in their phones and this is expected to grow during the coming years.

Further, most of the already existing point of sale (POS) and transportation systems across the globe use NFC technology, thus considerable infrastructure is already developed for the use of NFC –enabled devices.

There is a lot of research being carried out in the NFC field which shows the commitment of industry players toward full scale implementation of NFC in coming future.

This research study focuses on market data and insights, including the size and growth of the NFC market. The report provides a thorough analysis of the emerging industry trends and the prevailing state of the market. It offers a comprehensive coverage of the underlying technological and social issues and economic factors influencing the NFC technology business.

The study includes market data and forecasts based on in-depth analysis of the global NFC market. The report aims to find out various factors that restrain and drive the NFC market. The report focuses on trends and future business opportunities in the NFC market.

The prevalent competition in the market is identified through market share analysis of key players in the market. Furthermore, the value chain analysis and Porter’s five forces analysis are included in the report, aiming to provide strategic insight across the supply chain of the NFC market.

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