Albany, NY -- (SBWIRE) -- 05/20/2014 -- Transparency Market Research Reports incorporated a definite business overview and investigation inclines on "Near Field Communication Market". This report likewise incorporates more illumination about fundamental review of the business including definitions, requisitions and worldwide business sector industry structure.
Near field communication is a technology for smartphones and other digital devices to establish communication with each other by touching them together or holding into each other’s proximity area. All the new smartphones and tablets are now a days equipped with NFC technology. Currently, NFC is applicable in contactless transaction and data transfer with simplified setup of complex communication such as Wi-Fi. NFC uses RFID systems by allowing two way communication between the connected devices.
The percentage of mobile phones equipped with NFC was 5% in 2011 and it is expected to grow approximately 53% by the year 2019. The NFC market is expected to grow exponentially in the coming years, with Europe and North America as the leading markets at the current situation and APAC is emerging region for this market.
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User experience provided among the contactless card technology , increase in NFC-enabled mobile phones and Silicon getting smaller, cheaper & power efficient i.e. cost effectiveness are some of the major driving forces for NFC market. With this, proprietary standards and inefficient flow within the value chain are some of the factors restraining the growth of this market. Increased number of NFC-enabled devices and other retail applications using NFC technology are the opportunities in NFC market in coming years.
NFC market is segmented based on the applications, products and geography. Under the product category NFC market is segmented as NFC tags, NFC readers, NFC chips, NFC Micro SD cards, and NFC SIM/UICC cards. On the basis of applications the NFC market is segmented as payment (transaction application), ticketing, service, data sharing, access control and NFC tags application.
Some of the key players in the near filed communication (NFC) market are American Express Company, AT&T Inc., Barclays, Google Inc., NTT Docomo Inc., Renesas Electronics, Samsung Electronics Co., Ltd. and Sony Corporation among others.
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