A detailed market research report recently added to the portfolio of MarketResearchReports.biz presents a scrupulous analytical account of the global near-field communication (NFC) market.
Albany, NY -- (SBWIRE) -- 10/26/2018 -- The report, titled "Global Near-field Communication (NFC) Market Insights, Forecast to 2025," presents an account of the past and present growth trajectory of the market and projects the future growth prospects using vast market data and analytical tools. The market is likely to expand at an impressive pace from 2018 to 2025, driven largely by the vast rise in the use of portable computing devices for payments and the steady foray of the technology in the automotive sector.
The vast rise in the global users of mobile computing devices such as smartphones, laptops, and tablets has been determined as the key demand driver of the NFC systems market in the report. The flexibility and ease of use of smartphones and tablet computers for NFC transactions is chiefly attributed to the influence of the rising consumer base of mobile devices on the development of the NFC market. The rising adoption of mobile payments will compel merchants to increasingly install NFC systems in their outlets, consecutively driving the overall development of the market. The rising demand for NFC-enabled products in automobiles will also work well for the global NFC market in the next few years.
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The report segments the market on the basis of product type non-auxiliary products and auxiliary products. The key applications of NFC examined in the report include PCs and laptops and smartphone and tablets. Based on geography, the NFC market is examined for regions/countries such as United States, China, Europe, Japan, South Korea, Middle East and Africa, Central and South America, and Asia Pacific.
The market in the United States is presently the dominant revenue contributor to the global NFC market and is likely to hold the top spot throughout the report's forecast period. Factors such as the high level of awareness among consumers about the vast benefits of NFC and the increased usage of NFC handsets will continue to drive the United States NFC market in the next few years.
The vendor landscape of the global NFC market is intensely competitive owing to the presence of a large number of companies. Companies compete on the basis of aspects such as pricing, digital content, product differentiation, and availability of apps. Companies in the market are increasingly focusing on the development of new technologies and products to strengthen their positions. Focus is also increasing on the investment towards R&D activities, expansion, branding, and technological advancement of existing products.
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Some of the leading companies in the market are MediaTek (China), Broadcom (USA), Gemalto (Netherlands), Inside Secure (France), Infineon Technologies (USA), and NXP Semiconductors (Netherlands).
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