Near Field Communication (NFC) Market Size, Global Industry Analysis, Emerging Opportunities, Development Strategy, Growth Factors, Future Prospects and Trends by Forecast 2022

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Market Research Future published a research report on “Global Near Field Communication Market Research Report- Global Forecast 2022” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2022.

Global Near Field Communication Market   – Overview

Near Field Communication (NFC) is a short-range wireless connectivity standard that uses magnetic field induction to enable communication between devices when they’re touched together, or brought within a few centimetres of each other. Both businesses and individuals benefit from near field communication technology. By integrating credit cards, subway tickets, and paper coupons all into one device, a customer can board a train, pay for groceries, redeem coupons or store loyalty points, and even exchange contact information all with the wave of a smartphone. Faster transaction times mean less waiting in line and happier customers.

Due to growing adoption of near field communication technology in smartphones and similar devices the market for near field communication is growing rapidly. Due to its ease of use and accuracy, the demand for near field communication has increased in the recent past.

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NFC offers better collaboration in corporate environments by ensuring speedy and secure sharing of documents, files, and confidential data. In case of payments, the card details of the consumer are stored on the mobile phone in a secure element. This takes the form of a Subscriber Identity Module, secured chips or a secure digital card and the fact that hardware encryption can be only used in close proximity to the point of sale makes it one of the most secure payments. This feature acts a major pull factor to attract new customers and users of NFC technology and technology-enabled devices. Owing to these factors, NFC market growth is likely to witness a positive impact over the forecast period.

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.

Key Players

The prominent players in the Near Field Communication Market are- NXP Semiconductors (Netherlands), Broadcom Corporation (U.S.), Samsung Semiconductors (South Korea), Intel Corporation (U.S.), Qualcomm Inc. (U.S.), Austria Micro Systems (Austria), ST Micro (Switzerland), Texas Instruments (U.S.), MStar Semi (Taiwan), Flomio (U.S.) among others.

Some other players in this segment are- Blue Bite LLC, HID Global, Cellotape Smart Products, Advanced Card Systems Holdings Limited, Thinfilm, Smartwhere, Smartrac among others.

Global Near Field Communications Market – Segments

The Global Near Field Communications Market is segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;

  • By Devices: Comprises Computers, Smartphone, Laptops & Tablets, among others.
  • By Applications : Transpiration, BFSI, Data Exchange, and Healthcare among others.
  • By Types: Comprises Non-Auxiliary & Auxiliary.
  • By Regions:  North America, Europe, APAC and Rest of the World.

Near Field Communications Market – Regional Analysis

North America region dominates the Global NFC Market with the largest market share. Technical expertise rendered by existing key market players coupled with the growing demand for NFC due to the growing application areas such as contact less payment etc; drives the regional market growth. Besides contribution from the growing markets in the US & Canada due to the growing IT industry, supports the regional market growth.

While the second largest market for the Near Field Communications, Europe is showing steady growth owing to the high growth of financial sector and healthcare.

Asia-Pacific NFC market on the other hand is growing rapidly due to the growing manufacturing and BFSI sector mainly in India and China.  Growing investments in the development of efficient NFC systems to meet the augmenting demand for the smart phones are paying off well driving the regional market growth. Also the presence of prominent market players in the region is supporting the regional market growth.

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Target Audience

  • BFSI
  • Security Provider Firms
  • Contactless Chip Manufacturers
  • Consumer Electronic Manufactures

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