Near Field Communication Market by Product (IC/Chips, Tags, Readers, and Auxiliary) Worth $16.25 Billion by 2022 – New Report by MarketsandMarkets
(PRWEB) August 21, 2014 -- According to a new market research report "Near Field Communication (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", published by MarketsandMarkets, the total NFC Market is expected to reach $16.25 Billion by 2022 at an estimated CAGR of 8.83% from 2014 to 2022.
Browse 70 market data Tables and 105 Figures spread through 298 Pages and in-depth TOC on "Near Field Communication (NFC) Market".
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The Near Field Communication Market is expected to flourish in the near future. The report also includes an in-depth analysis of the products, applications, and geography. The NFC is a very dynamic market and entails a great potential across many industry verticals. The advancements in technology due to the never ending R&D in this sector, makes it one of the prominent segments in the current industrial scenario. The NFC products have been experiencing continuous developments right since their inception. The technology has a major role to play in this sector due to the cost effective matrix, and this results into a longer life cycle of products and systems, along with greater reliability. The highlighting features of the NFC technology include high rate of communication with other NFC-enabled devices, better properties to withstand rough environmental conditions, and a longer life that is best suited for the payment, ticketing, booking, and data sharing applications.
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. The report profiles 10 promising players in the NFC market ecosystem.
Near Field Communication (NFC) technology has been integrated in circuits and incorporated in mobile devices and products to store information and control transactions. The NFC market in electronics and semiconductor industry has created a new revenue stream in the electronics industry, having Americas as the crown holder of the overall ecosystem. This technology is basically operated in three modes, namely, card emulation, reader emulation, and peer-to-peer mode. This report highlights the importance of NFC technology in the modern world, giving details of the vital points related to this industry.
The NFC market is very dynamic and the involvement of a proper supply chain has helped the industry to reach new heights. Due to the improvements in effective supply chain and distribution, this industry has grabbed the attention of NFC product manufacturers, and numerous venture capitalists to generate more and more revenue with the help of high quality products and systems.
Continuous research &development in this technology has allowed new entrants to penetrate in the unexplored markets. America holds a major share in the overall NFC market. The American region has launched the largest commercial mobile payment system and high quality products; hence, it has become the major hub of NFC product manufacturing. APAC is expected to grow at a high CAGR throughout the forecast period.
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The competitive landscape of the market presents a very interesting picture, where a large number of small players have become forces to reckon with. The market is witnessing large scale collaborations and partnerships across the value and supply chain, among the number of tier-one players around the globe.
The major players in this field include Broadcom (U.S.),Gemalto (Netherlands), Inside Secure (France), Infineon Technologies (Germany), MediaTek (Taiwan), NXP Semiconductors (Netherlands), Renesas Electronics Corporation (Japan), Samsung Electronics Corporation (South Korea), STMicroelectronics NV (Switzerland), and Texas Instruments (U.S.).
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