Market Research Future published a research report on “Near Field Communication (NFC) Market Research Report – Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Pune, India - June 4, 2019 /MarketersMedia/ —
Market Overview
Market Research Future (MRFR) has announced a new release on the global near field communication market. The global near field communication market is examined from all angles in the report, which presents a comprehensive view of the market’s historical movement, present growth dynamics, and likely future growth trajectory. According to the report, the Near Field Communication Market is expected to reach a valuation of USD 30 billion by 2022, at a CAGR of 17% over the forecast period.
Near field communication, or NFC, is an electronic communication technology developed in collaboration by Phillips and Sony. NFC allows two devices to share varied kinds of information when brought into close proximity with each other. This information can be files or documents to be transferred between two users, or ticketing or payment information that can pass through a user’s mobile phone to a receiving device that tracks the payment and approves it. The use of NFC tags and chips to enable payment through near field communication technology has become a widely popular application of near field communication technology and is likely to remain a major driver for the global near field communication market over the forecast period.
The increasing use of smartphones for cashless transactions is likely to remain a major driver for the global near field communication market over the forecast period. Smartphones have become a ubiquitous tool, particularly in urban areas, rendering them convenient for person-to-person or person-to-business transactions. The strong security framework behind near field communication technology has made it a popular choice when it comes to cashless transactions. Rising awareness about the benefits of near field communication technology in cashless transactions is likely to drive the global near field communication market over the forecast period. At present, awareness about the full potential of near field communication technology is lacking, especially in developing regions, leading to a relatively slow market growth.
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Segmentation
• By type, the market is segmented into non-auxiliary and auxiliary. Non-auxiliary segment is further sub-segmented into NFC ICs & antennas, NFC tags and NFC readers. Auxiliary segment is further sub-segmented into NFC micro SD cards, NFC SIM /UICC cards, and NFC covers.
• By device, the market is segmented into smartphones, tablets, laptops & computers and others.
• By application, the market is segmented into NFC-based payments, ticketing, booking, data sharing, authentication and access control, healthcare, games and toys.
Key Players
Prominent players in the global near field communication market include NXP Semiconductors (Netherlands), Broadcom Corporation (US), SAMSUNG (South Korea), Intel Corporation (US), Qualcomm Inc. (US), ams AG (Austria), STMicroelectronics (Switzerland), Texas Instruments Incorporated (US), MStar Semiconductor, Inc. (Taiwan), Flomio, Inc. (US), among others.
Other players in the market includes Blue Bite LLC, HID Global Corporation, Cellotape Smart Products, Advanced Card Systems Holdings Limited, Thinfilm, Smartwhere, LLC., SMARTRAC N.V., among others.
Regional Analysis
The global near field communication market is estimated to grow at a significant rate during the forecast period from 2018 to 2022. The geographical analysis of near field communication market is studied for North America, Europe, Asia-Pacific, and the rest of the world. North America is expected to dominate the market followed by Europe owing to the presence of advanced technology and presence of global players. Asia-Pacific is expected to emerge as the fastest growing market for near-field communication due to heavy demand for NFC-enabled smartphones, growing consumer electronics industry, and increasing security concerns in industries such as BFSI. Also, rising income, high adoption of smart appliances, and rising per capita income in countries such as India and China are expected to create enormous growth for near field communication market in the Asia-Pacific region.
Industry/ Innovation/ Related News:
April 25, 2018 – Gate Gourmet Peru (UK), one of the leading global providers of catering and supply services for airlines launched NFC based cabinet solution, designed to manage the kitchen tools used during food preparation, tracks each knife used to prepare in-flight meals. This will, in turn, prevent terrorism on flights. The RFID Solution {a hybrid UHF (The ultrahigh-frequency) and NFC system) will ensure that all food-preparation knives are affixed with RFID tag, detectable in a locked cabinet, and any removal and return of those knives is automatically identified and tracked by time, date and personnel ID, as well as by video.
April 25, 2018 – Paytm (India)a mobile-first financial services company launched- Paytm Tap Card, an Offline Payments Solution that uses Near-Field Communication On Paytm-issued PoS Terminals.
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Intended Audience
• BFSI
• Security Provider Firms
• Contactless Chip Manufacturers
• Consumer Electronic Manufactures
• Research Organizations
• Investment Firms
• Resellers and Distributors
• Government Agencies
• VARs
• Investors and consultants
About Us:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Contact Info:
Name: Abhishek Sawant
Email: Send Email
Organization: Market Research Future
Website: https://www.marketresearchfuture.com
Source: MarketersMedia
Release ID: 519894
