Press release
NFC-Enabled Phones and Contactless Smartcards Market - rowth, Trends, Forecast, Demand, Outlook 2020
Modern-day businesses are increasingly seeking newer methods of speeding productivity, saving money, and increasing sales. Near field communication (NFC)-enabled phones and contactless smartcards have emerged as an essential part of contactless payment technology, which marks the development of a cashless society. The mass adoption of contactless payment options such as NFC-enabled phones and contactless smartcards by both customers and merchants is triggered by the growth of digital technology.The research report on the global NFC-enabled phones and contactless smartcards market analyzes the evolving platforms, adoption trends, and forces that govern the market. It also identifies growth inhibitors, key market players, potential and emerging markets, and major developments of the NFC-enabled phones and contactless smartcards market.
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SWOT analysis, Porter’s Five Forces analysis, market attractiveness, and value chain analysis are some of the industry tools adopted by the analysts in order to present a thoroughly-researched and well-balanced study of the global NFC-enabled phones and contactless smartcards market.
Overview of the NFC-Enabled Phones and Contactless Smartcards Market
NFC-enabled phones and contactless smartcards are used in a number of application areas including healthcare, consumer electronics, access control, information collection and exchange, payments, loyalty and coupons, and transport. Contactless smartcards and NFC-enabled phones allow for improved service delivery, reduction in queuing time, integration with existing cards, better customer insight, increased convenience in making payments of lower value, and increased revenue opportunity.
The multi-application support offered by NFC-enabled phones and contactless smartcards and rising interest in subscriber identity modules (SIM) is anticipated to fuel the growth of the global NFC-enabled phones and contactless smartcards market over the next few years. In contrast, security issues and high cost involved in setting up EPOS terminals threaten to restrict the growth of the worldwide market.
Innovations in smart chip technology and high penetration of smartphones have made North America and Europe the leading markets for NFC-enabled phones and contactless smartcards. Nevertheless, rising adoption of cashless payment options, supported by dense population, indicates that Asia Pacific will develop a strong hold over the global market in the coming years.
Companies Mentioned in the Report
The leading participants of the NFC-enabled phones market are Mobiwire, Panasonic, Acer, Lenovo, HTC, LG, OiiA Technology, C-mii, Nokia, Shanghai Simcom, Sharp, Huawei, Sony, Casio, Orange, ZTE, Xolo, Hedy, Fujitsu, Samsung, Pantech, Motorola, Kuoziro, TazTag, Sonim, and BlackBerry.
Some of the prominent names in the contactless smartcards market are Fujitsu Microelectronics Limited, Advanced Card Systems Ltd., Gemalto N.V., Austria Card GmbH, CPI Card Group, FNMT-RCM, ASK, CardLogix Corporation, General Information Systems, ActivIdentity Corporation, and American Microdevice Manufacturing, Inc.
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TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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