Near Field Communication (NFC) Market by Product, Application (Payment, Transportation, Booking) Estimated to Reach $16.25 Billion by 2022 - New Report by MarketsandMarkets

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Near Field Communication (NFC) Market report provides in-depth details with qualitative analysis at each and every aspect of the classifications done by technology, products, auxiliary products application verticals & geography.



Leading players in Near field communication market are Broadcom (U.S.),Gemalto (Netherlands), Inside Secure (France), Infineon Technologies (Germany), MediaTek (Taiwan), NXP Semiconductors, Renesas Electronics Corporation, Samsung Electronics

According to a new market research report of “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,” 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 74 market data tables and 102 figures spread through 298 pages and in-depth TOC on "Near Field Communication (NFC) Market”.

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The NFC 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.

With the continuously evolving mobile landscape, the marketers are trying to incorporate NFC technology in their marketing campaigns and customer relationship management. The NFC technology has revolutionized the retail industry by enabling the customers to make payment, and verify identities through their NFC enabled phones. With the rapid adoption of the NFC technology the market is expected to witness growth in verticals such as transport and logistics, smart advertisements/smart posters, and others. With the increase in the number of players/industries in APAC, the growth of NFC technology in this region is also expected to increase.

There may be downside in technology due to the lack of awareness among the customers. There is user indifference regarding this technology due to some key issues like data security. The future of NFC is expected to be bright, as in next few years the application area for the technology will get wider, and people will get to know about the technology and will be accustomed to it.

NXP Semiconductor (Netherlands) is the market leader in manufacturing NFC chipsets for mobiles phones. NXP semiconductors along with eID specialist Ageto (Germany) have developed National ID app that can be used as an ID proof by the German populace.With the help of NXP’s SmartMX technology embedded in the ID card and Ageto eID client (Germany), the public can use the cards with NFC enabled mobile phones to show their identity. This new NFC-based solution provided by NXP semiconductors and Ageto offers various benefits both for citizens and the authorities. This solution is quick, less complex, and secure, and will happen in real-time.

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.

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.

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