Transparency Market Research

Near Field Communication (NFC) Market Expanding Faster: Adoption of NFC in Smartphones Leading to Growth at CAGR of 43.7%

Transparency Market Research Added A New "Near Field Communication (NFC) Market Research Report" And Its Full Database.


Albany, NY -- (SBWIRE) -- 06/12/2017 -- The near field communication (NFC) global market is expanding at a fast pace. According to a new research report published by Transparency Market Research, the near field communication market was valued at US$1.07 billion in 2012.As per the report, titled 'Near Field Communication Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019', the global near field communication market is expected to grow at a CAGR of 43.7% for the forecast period from 2013 to 2019.

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The market is growing rapidly due to growing adoption of near field communication technology in smartphones and similar devices. Near field communication, a wireless technology, assists the users in identifying applications in mobiles and tablet PS that exchange data in a close range. Due to its ease of use and accuracy, the demand for near field communication has increased in the recent past. As per the report, the near field communication market gained massive momentum in 2013 and is expected to report record breaking sales till the end of 2019. Total shipment of cellular handsets enabled with NFC technology totaled to 264.5 million units, in 2013.

The near field communication market is segmented by the TMR analysts to better understand how the market is spread across different regions. With respect to revenue, North America led the global near field communication market in 2012. Currently, Asia Pacific is the fastest growing region, contributing a large part of the total revenue in the near field communication market. Adoption of NFC technology in smartphones has increased in regions such as Australia, Japan, South Korea, and China. In 2012, NXP Semiconductors led the NFC market. The report on the near field communication market, highlights the growth of the market, insights, the market data, and emerging industry trends. Payment is the most important element of the NFC technology. Contactless payments can be made through all NFC-enabled devices. Users of NFC-enabled devices can easily automate bookings in the hospitals.

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Adoption of NFC technology in smartphones has led to growth of the near field communication market. The market is further benefitting from growing utilization of contactless payment. NFC technology is featured in products such as NFC controller, NFC readers, NFC chips, NFC tags, and NFC secure elements. With NFC chips, data can be exchanged without even pairing the devices. NFC tags store smaller amount of data, whereas NFC readers allow the users to read stored data. The near field communication market has enhanced and complemented smart card services and applications such as public transport, point of sale, healthcare, logistics, supply chain, and customer loyalty program. Broadcom Inc., Visa Inc., DeviceFidelity Inc., Toshiba Corporation, Samsung Electronics Co. Ltd., Infineon Technologies, and Identive Group, are some of the leaders in the NFC market.