According to Research Report by Hexa Research, Near Field Communication Market is likely to
experience rapid growth across various applications in next few years. With
increase in technology and increase in smart phone demand globally, this market
has grown. The global Market of NFC was calculated at USD 1.06 billion in 2015 and
expected to rise at CAGR of 43.1% throughout forecast period from 2015
to 2020.The NFC industry provides major opportunities to direct mail marketing
industry. It helps marketers in providing content through an embedded around
field communication chip, which allows wireless communication when a user aces
a mobile device with close proximity of NFC tag.
Payment options for mobile or m - commerce technology is estimated to
take near field communication market into mainstream level. Contactless
transactions with NFC enabled devices were the biggest application for this
market in 2015, contributed a share for around 21% of global market. The main
challenge for NFC contactless payments in upcoming years would be low stage of
synchronization with other participants such as credit cards companies or
banks, network operators and payment service providers.
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Details of Report @ http://www.hexaresearch.com/research-report/near-field-communication-industry
In 2015, North America was counted as the largest market with 32% of
share contribution for near field communication due to significant demand of early
implementation and contactless payments in the market. The NFC market can be
categorized into auxiliary and non auxiliary products. Auxiliary products
include NFC authorized SIM’s, Covers and Micro SD’s and Non Auxiliary segment
consists of IC/Chips, readers and tags. Some of the mobile phones having
in-built chips, which enable data, range over a short range. The security
feature which NFC technology consists of is making the financial transactions
more secure. Transfer capacity and data speed is another feature of technology
which provides faster data transmission, which is expected to boost the NFC
market globally. Increasing usage of NFC technology in social media sector is
expected to provide positive impact on market growth.
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