openPR Logo
Press release

Near Field Communication Market Expected to Reach $24.0 Billion by 2020 | With Top Leading Companies Infineon Technologies, Apple Inc., NXP Semiconductors, Samsung Electronics Co. Ltd., Broadcom Corporation, Toshiba Corporation and Inside Secure.

02-06-2019 06:35 PM CET | IT, New Media & Software

Press release from: Allied Market Research

Near Field Communication

Near Field Communication

NFC Market (Near Field Communication Market) Report, published by Allied Market Research, forecasts that the global market is expected to garner $24.0 billion by 2020, registering a CAGR of 40.4% during the period 2015-2020. North America dominates the global NFC market, owing to the huge demand exhibited by the U.S. for near field communication technology. However, Asia-Pacific region is expected to exhibit a faster growth over the forecast period 2015-2020.

The key applications of NFC technology include contactless payment, information sharing, user authentication and access control, monitoring healthcare systems and others. Mobile or contactless payment dominated the global near field communication market by application, accounting for 33% market share in terms of revenue in 2014. It offers faster transactions as compared to conventional cash, credit or debit card transaction. However, monitoring healthcare systems segment would witness the highest CAGR of 42.8% during the forecast period. In this application, NFC sends data in encrypted form to reduce the possibility of information security breach.

Further, the NFC market is analyzed based on geography into North America, Europe, Asia-Pacific and LAMEA. North America dominated the global NFC market, accounting for 34.7% market share in 2014. The region would maintain its dominance during the forecast period. However, Asia-Pacific is expected to witness the fastest growth at a CAGR of 43.1% during the same 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.

Download report sample at: https://www.alliedmarketresearch.com/request-sample/759?utm_source=as_opr

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.

Convenient Transfer and Security of Data

NFC offers better collaboration in corporate environments by ensuring speedy and secure sharing of documents, files, and confidential data. In addition, in case of payments, the card details of the consumer are stored on the mobile phone in a secure element. This takes the form of a Subscriber Identity Module, secured chips or a secure digital card and the fact that hardware encryption can be only used in close proximity to the point of sale makes it one of the most secure payments. Thus, this feature acts a major pull factor to attract new customers and users of NFC technology and technology-enabled devices. This, owing to these factors, NFC market growth is likely to witness a positive impact over the forecast period.

Increasing Penetration of Smartphones

Today, smartphones have become an important part of consumers’ lives. Along with the traditional uses of communicating, consumers are using their smartphones to make easier and faster payments. NFC provides convenient mode of payments since it merges a consumer’s mobile device with his/her wallet thereby enabling a user to make mobile transactions, easily exchange digital content and to connect their device with other devices with just a touch. Therefore, as the demand for smartphones is increasing rapidly, it will positively influence the NFC market growth.

For purchase enquiry at: https://www.alliedmarketresearch.com/purchase-enquiry/759?utm_source=as_opr

Contactless Payments

NFC offers contactless payments by using standard-based wireless communication technology for exchanging information between a mobile phone and a point of sale terminal, thereby offering better and hassle-free customer experience. Mobile wallet is one of the popular application of NFC. This mode is suitable for secured money transfers and ticketing transactions. Therefore, as the demand for contactless payment is increasing rapidly, it will positively influence the NFC market forecast.

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1?855?550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Near Field Communication Market Expected to Reach $24.0 Billion by 2020 | With Top Leading Companies Infineon Technologies, Apple Inc., NXP Semiconductors, Samsung Electronics Co. Ltd., Broadcom Corporation, Toshiba Corporation and Inside Secure. here

News-ID: 1566423 • Views: 426

More Releases from Allied Market Research

Electric Passenger Car Traction Motor Market Growth 2027 – Key drivers, Busine …
Traction motor produces resistance between two surfaces with or without using electricity. An electric passenger car traction motor is a vital component which is used for extracting electricity from the battery pack. Traction motor is installed in electric passenger vehicles to provide rotation torque for the movement of the car. Furthermore, stringent emission discharge norms and regulations drives the demand for electric passenger car. Moreover, quick expansion of EV charging
Electric Passenger Car Lithium-Ion Battery Management System Market Analysis of …
Electric passenger car has gained a considerable consumer popularity & acceptance in the past few years. Major improvements in the performance of an electric passenger car such as high acceleration rate and long driving range after a single charge have been boosting the demand for electric passenger vehicle. Further, a lithium-ion battery (LIB) is a type of rechargeable battery, which is popularly used in the field of electric passenger vehicles
Electric Bus Door System Market Trending Technologies, Developments, Key Players …
Buses have had a strong place in the transportation industry since the 1830s when the first steam bus was introduced in London. Since the year 1830, buses are considered as the most common mode of public transportation in almost every country across the world. Electric bus door system is an assembly of interconnected mechanisms which utilizes the power of electricity to automatically open the door. Furthermore, the electric bus
Commercial Vehicle & Off-Highway RADAR Market Trends, Segments, Emerging Technol …
Commercial & off-highway vehicles are large and utilized for multiple tasks such as transport of goods, mining, excavation, and others. Due to their large sizes and complicated applications, these vehicles are prone to accidents. Safety concerns increase with a high number of blind spots, thereby propelling the use of RADARs in these vehicles to alert the driver of various threats. In addition, safety & security has become a topmost priority

All 5 Releases


More Releases for NFC

Global NFC Chips Market Research Report 2025
This report studies the global NFC Chips market status and forecast, categorizes the global NFC Chips market size (value & volume) by manufacturers, type, application, and region. This report focuses on the top manufacturers in United States, Europe, China, Japan, South Korea and Taiwan and other regions. Get sample copy of report: https://www.marketdensity.com/contact?ref=Sample&reportid=126251 Table of Contents Global NFC Chips Market Research Report 2018 1 NFC Chips Market Overview 1.1 Product Overview and
Global NFC Systems Market Research Report 2017
In this report, the global NFC Systems market is valued at USD XX million in 2016 and is expected to reach USD XX million by the end of 2022, growing at a CAGR of XX% between 2016 and 2022. Browse Full Report : https://www.marketresearchreports.biz/reports/1282681/global-nfc-systems-research-report-market-research-reports.pdf Geographically, this report is segmented into several key Regions, with production, consumption, revenue (million USD), market share and growth rate of NFC Systems in these regions, from 2012
NFC Technology Market -
Near field communication (NFC) has been around since past few years but was not yet implemented as it was undergoing pilot testing phase. Considerable research and developments have been made in this field and several prototypes are developed for number of products and applications. Major application areas of NFC include mobile payments, data sharing, and advertisement among others. Although there are limited products commercially available today using NFC technology, this
Expoxy nxp nfc passive rfid tag (gyrfidstore)
RFID Disc Tags are widely used for inventory tracking system or Automatic production systems. The RFID Disc Tag can also work on metal surface with anti-metal layer on it, also can be attached to goods surface by adhesive layer. There are abundant size options from 12mm to 50mm. GYRFID presents several types with different material and size to suitable customer’s application. DIP Series- PVC Disc Tag, PVC Laminated, thickness of 1.0-1.2mm DIT
RFID antenna for NFC payment(gyrfidstore)
RFID Label and NFC Stickers is designed for various applications especially the asset tracking and NFC payment. The strength of RFID label compared with other tags is the thinner thickness, various size, flexible and cost efficient. It can be sealed inside of goods or stick on the device surface with adhesive layer. The label is also optional with anti-metal layer to mount and working on metal surface. GYRFID has the
NFC meets Wireless Charging
Stollmann – specialist in software stacks for NFC, Bluetooth and ISDN –Philips & Lite-On Digital Solutions (PLDS) – globally well-known in the automotive infotainment industry – and Funkwerk Dabendorf – renowned producer of mobile communication solutions in the automotive industry – agree upon cooperation for the smartphone integration in the car via NFC. Today, we can see a steady and substantial rise in the integration of the smartphone into the vehicle.