Near Field Communication (NFC) Market Accelerates with Significant Growth

NFC Market (Near Field Communication Market) is expected to garner $24.0 billion by 2020, registering a CAGR of 40.4% during the forecast period 2015-2020. Near field communication (NFC) is an array of protocols based on a wireless interface that enables communication devices and electronic gadgets to establish radio communication with each other under proximity.

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Near field communication, technology is mainly used in smartphones, laptops, and tablets for short range of data exchange (up to 10cm or less). Near field communication (NFC) is an array of protocols based on a wireless interface that enables communication devices and electronic gadgets to establish radio communication with each other under proximity. The world NFC market share is projected to grow rapidly during the forecast period.

Based on the product type, global NFC technology market is bifurcated into NFC chip, NFC tag, NFC reader, NFC enabled SIM and others. NFC readers garnered the maximum share in 2014 (accounting for 45%) of the total market revenue. In terms of growth, the other product segment is estimated to register the fastest CAGR of 43.9%, during the forecast period 2015-2020. Among the device type segment which comprises smartphones, PC & laptops and other devices (infotainment and stereo headphone), smartphones dominated the market in 2014, accounting for 60% share in terms of revenue.

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The value chain of the near field communication market includes various stakeholders such as near field communication component manufacturer/supplier that invest in research and development to provide innovative product or services, dealers/distributors and end users. Each of these shareholders add value to their operation that contribute a competitive value of the product. In addition to this, there are other departments such as research & development, procurement, marketing and other departments that carry out value addition to the product value chain.

Key Findings of Near Field Communication Market:

• Mobile/contactless payment application dominated the NFC market, owing to its outstanding benefits of secure payment
• NFC readers contributed the largest market share in 2014. However, NFC chip and other NFC product segments are expected to exhibit a faster growth
• North America would be the dominant geography in the NFC market throughout the forecast period (2015-2020) owing to the widespread adoption of NFC technology in different applications
• NFC technology is mainly used in different devices such as smartphone, pc/laptop and others, including NFC card and infotainment systems. Among all the devices, smartphone is the prime revenue contributor in global market

The report also outlines the competitive scenario of the near field communication market, providing a comprehensive study of the key strategies adopted by companies operating in the NFC market. Key companies profiled in the report include, Infineon Technologies, Apple Inc., NXP Semiconductors, Samsung Electronics Co. Ltd., Broadcom Corporation, Toshiba Corporation and Inside Secure (now acquired by Intel), amongst others.

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