The NFC Transaction and Handsets Markets Projected to Grow 50% by 2019
The NFC transaction market is forecasted to grow in the next 5 years as a result of the growth of the NFC ecosystem across market segments such as finance, IT, telecom and device manufacturing. Governments, network operators and manufactures across countries in the APAC and African regions are aggressively promoting benefits of NFC technology. These are some of the findings from the recent report by ReportsnReports.com that adds Global NFC Transaction Market 2015-2019 and Global NFC Enabled Handset Market 2015-2019 industry research.
The versatility and easy to adopt features of NFC have attracted many users. NFC makes easier the sharing of information, playing of games, payments, transferring of data and access to social networking sites. Easy Integration of NFC with public transit payment systems, healthcare systems and retailers’ POS also makes the product more attractive. Other factors contributing to a rapid market growth of NFC technology are a greater number of NFC enabled smartphones, and an increased number of mobile internet users.
To produce study results, the report takes into consideration payment transactions made by consumers using NFC technology. Many companies are mentioned in the study including MediaTek, Nokia, Samsung Electronics, Google, American Express.
NFC is a standard short-range connectivity that uses high frequency wireless communication technology to enable communication between devices. Between 2014 and 2019 the Global NFC Enabled Handset Market is predicted to grow at over 55%. NFC has changed the way people use and exchange data between NFC devices and tags. Three modes of operation including card emulation, peer-to-peer and reader/writer are supported by NFC technology.
The Global NFC Enabled Handset market 2015-2019 report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, the APAC region and the EMEA region; it also presents the vendor landscape and a corresponding detailed analysis of the leading vendors in the Global NFC Enabled Handset market. In addition, the report discusses the major drivers that influence the growth of the Global NFC Enabled Handset market and also outlines the challenges faced by the vendors and the market at large, as well as the key trends emerging in the market.
The NFC Market by Product (IC/Chips, Tags, Readers, and Auxiliary), Application (Payment, Transportation, Booking, Data Sharing, Service, Access Control, Health Care, and Tag applications) & by Geography – Global Forecasts to 2022 research report says that NFC market is currently witnessing a rapid growth in all its verticals. The NFC market is driven by the increasing trend of mobile commerce. Another driver for this market is that the NFC Forum and GSMA are pushing forward the NFC standard at global level. This report gives an in-depth analysis of the NFC market that includes market by product, market by application and market by geography.
Growing at an estimated CAGR of 8.83% from 2014 to 2022, the total NFC Market is expected to reach $16.25 Billion by 2022. This report describes the market trends, drivers, and challenges with respect to the NFC market and forecasts the market up to 2022. This global report gives a detailed view of the market across various regions, namely – The Americas (North America and South America),Europe (U.K., Germany, France, Italy, and Rest of Europe), the Asia-Pacific (China, Japan, Korea, India, and Rest of APAC), and ROW (the Middle East, Australia, and Africa). Americas is the largest geography in terms of the NFC market value, with the U.S leading the way. APAC has been identified as the fastest growing region and a leader in the NFC technology devices. Europe also has a very promising market, comprising Germany and the U.K., while the ROW also bestows an impetus to the growth of this market.