The NFC market is expected to witness rapid growth across various application verticals over the forecast period, according to a new study by Grand View Research, Inc. Rapid technological advancement and high smartphone demand due to technology standardization is expected to positively impact market growth. Demand for cost effectiveness along with increasing availability of NFC-enabled smartphones is also a major market driver. In addition, the market provides opportunities to the direct mail marketing sector, which in turn may drive m-commerce and mobile payment options.
NFC is integrated in a wide range of equipment and devices including tablets, laptops, cameras, headsets, televisions, cookers, washing machines, cars and vending machines. In addition to industrial and commercial applications, this technology is preferred for financial transactions. High development cost, poor infrastructure coupled with lack of consumer awareness about potential benefits may hamper market growth over the next six years. Transformation in transaction process methods along with social media engagement applications are expected to offer growth avenues for the global NFC market.
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summary of this report @ http://www.grandviewresearch.com/industry-analysis/near-field-communication-nfc-market
Further key findings from the study suggest:
·
The NFC market comprises non-auxiliary and
auxiliary products. Non-auxiliary segment includes readers, tags and IC/chips,
while auxiliary products include NFC-enabled covers, SIMs and microSD cards.
NFC readers are expected to witness high growth over the forecast period, which
is a result of growing application areas and demand for ticketing, access
control and authentication.
·
Mobile payment application is expected to remain
the dominant market segment over the next six years. This can be attributed to
benefits such as improved financial transparency, improved public sector
servicing and reduced carbon footprint. In addition, emergence of mobile wallet
payment methods has enhanced user experience against contactless cards.
·
Asia Pacific is expected to witness high growth
due to growing adoption of this technology in retail and transportation.
Financial institutions as well as Mobile Network Operators (MNOs) have
supported contactless payment facilities. Increasing use of smartphones for
transaction at point of sale (POS) terminals is expected to drive the market in
North America.
·
Key companies operating in the NFC market
include Nexperts, Infineon Technologies, Gemalto, Renesas, Sony Corporation,
STMicroelectronics and Texas Instruments. Rising emphasis on vertical
integration activities in order to obtain greater product reliability and
optimized manufacturing throughput is estimated to be the major growth
strategy.
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more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/communication-services
For the purpose of this study, Grand View Research has segmented the global NFC market on the basis of product, application and region:
NFC Product Outlook (Volume, Million Units & Revenue, USD Million; 2012 - 2020)
• Auxiliary
• Non-Auxiliary
• NFC IC (Chips)
• NFC Tags
• NFC Readers
NFC Application Outlook (Volume, Million Units & Revenue, USD Million; 2012 - 2020)
• Payment
• Transportation
• Booking
• Data Sharing
• Service
• Access Control
• Healthcare
• Others
NFC Regional Outlook (Volume, Million Units & Revenue, USD Million; 2012 - 2020)
• North America
• Europe
• Asia Pacific
• RoW
For Free press release of this report - http://www.grandviewresearch.com/press-release/global-near-field-communication-nfc-market
