The world near field communication market was valued at $3.2 billion in 2014 and is expected to grow at a CAGR of 40.4% during the forecast period (2015-2020), to reach $24.0 billion by 2020.
The world near field communication market has exhibited moderate growth during the past few years; however, it is expected to exhibit robust growth during the forecast period.
Increasing penetration of smartphones for convenient & secure online transactions and growing popularity of contactless payments are some key factors driving the global NFC technology market. Smartphone is the most common NFC enabled device available in the market. These smartphones allow users to interact with other devices such as in-car infotainment system, PCs and laptops to access information & others.
The world near field communication (NFC) market is segmented on the basis of product type, devices, application and geography. Based on the products available, the market is segmented into auxiliary and non-auxiliary products. NFC tags, NFC chips, and NFC readers are key types of non-auxiliary products, whereas NFC enabled sim and others (NFC covers and cards) are the key auxiliary products discussed in the report.
Based on the device type, the market is segmented into smartphone & tablets, PC & laptops and others (infotainment and stereo headphone). Further, NFC technology finds its major applications in mobile/contactless payment, information sharing, user authentication & access control, monitoring healthcare systems and others (service initiation, ticketing, advertising/marketing and inventory management).
Key Findings:
– Mobile/contactless payment application dominated the world NFC market, owing to its outstanding benefits of secure payment
– NFC readers contributed the largest market share in 2014. However, NFC chip and other NFC product segments are expected to exhibit a faster growth
– North America would be the dominant geography in the NFC market throughout the forecast period (2015-2020) owing to the widespread adoption of NFC technology in different applications
– NFC technology is mainly used in different devices such as smartphone, pc/laptop and others, including NFC card and infotainment systems. Among all the devices, smartphone is the prime revenue contributor in global market
The report also outlines the competitive scenario of the world near field communication market, providing a comprehensive study of the key strategies adopted by companies operating in the NFC market. Key companies profiled in the report include, Infineon Technologies, Apple Inc., NXP Semiconductors, Samsung Electronics Co. Ltd., Broadcom Corporation, Toshiba Corporation and Inside Secure (now acquired by Intel), amongst others
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