New Research on Global Near Field Communication (NFC) Market Showcases Promising Growth during Forecast 2018-2020

A new report titled “New Research on Global Near Field Communication Market Showcases Promising Growth During Forecast 2018-2020” has been included in the enormous research repository of Market Research Reports Search Engine (MRRSE) that compiles various facets of the Near Field Communication Market at a global level portraying a holistic analysis of the marketplace along with intelligence on key participants. The report covers an unbiased analysis on various market aspects, emphasizing major trends giving direction to the market, key opportunities paving new growth avenues, key drivers pushing the market’s growth and challenges and restraints hindering the market for Near Field Communication across the globe.

The near field communication (NFC) market is primarily driven by the growing adoption of NFC in the rapidly growing smartphones market across the world. Further, the contactless payment tradition is growing which is also aiding the growth of the NFC market. The global NFC market was valued at USD 1,068.3 million in 2012 and is expected to grow at a CAGR of 43.7% during the forecast period.

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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.

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 the 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 an 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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Payment is one of the most important applications of NFC technology. NFC-enabled devices can be used for contactless payment. Need for error-free and quick operation with secure money transactions in businesses is expected to drive the NFC payment market in the coming years. NFC-based booking has a significant opportunity in the healthcare sector. The bookings in hospitals can be automated and fastened using NFC-based booking systems. NFC devices can be used to carry out loyalty membership programs by different organizations. Ticketing systems are being replaced by NFC electronic ticket smart cards which allow contactless payment through any NFC-enabled device. Japan, France, and China experienced significant growth in the NFC market for healthcare application due to significant investment in technology to upgrade healthcare facilities in these countries. NFC card games and geocaching are creating new dimensions in NFC-based gaming.

The study offers a complete understanding of different application sectors of NFC technology. The report includes various major applications of NFC technology such as payment (transaction), ticketing, booking, data sharing, service, authentication and access control, healthcare, games and toys and NFC based geo-tagging The report aims to provide a comprehensive cross-sectional analysis of the product and application segments across North America, Europe, Asia Pacific and Rest of the World (RoW).

Key players in the market have been profiled in the report along with their business strategies and market positions. Companies profiled in this report include Broadcom, Inc., DeviceFidelity, Inc., Gemalto N.V., Visa, Inc., Toshiba Corporation, STMicroelectronics N.V., Samsung Electronics Co. Ltd., NXP Semiconductors N.V., Identive Group, Inc., On Track Innovations (OTI) Ltd., and Infineon Technologies.

The global NFC market is categorized into the following segments:

Near Field Communication Market, by Product Type

NFC Controller ICs (Chips)

NFC Tags

NFC Readers

NFC Secure Element

Near Field Communication Market, by Application

Payment

Ticketing

Booking

Data Sharing

Service

Authentication and Access Control

Healthcare

Games and Toys

Others (smart advertising and NFC based location services)

Near Field Communication Market, by Geography

North America

Europe

Asia Pacific

Rest of the World (RoW)

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This release was published on openPR.