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NFC Technology Market: Outlook, Opportunity & Future Trends Till Forecast Period 2018

Press Release   •   Jan 04, 2018 08:57 EST

Near field communication (NFC) has been around since past few years but was not yet implemented as it was undergoing pilot testing phase. Considerable research and developments have been made in this field and several prototypes are developed for number of products and applications. Major application areas of NFC include mobile payments, data sharing, and advertisement among others. Although there are limited products commercially available today using NFC technology, this market is expected to witness immense growth in product and applications in upcoming few years.

NFC technology market is expected to grow at compounded annual growth rate of 68.8% owing to increase in market share of SIM based model and handset embedded model in near future. NFC technology is rapidly adopted in number of mobile applications, thus adding to the growth of NFC technology industry. This technology is largely implemented in developed economies like North America and Europe which are the major contributors in NFC chips industry sharing over more than 60% of the total market share. NFC technology is expected to grow rapidly in Asia Pacific market owing to increasing use of mobile phones and wireless applications.

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Market Segmentation

Based on Product

  • NFC Chip
  • Micro SD Card
  • Integrated SIM
  • Reader and Middleware

Based on Application

  • Mobile Payment
  • Ticketing
  • Booking
  • Data Sharing
  • Access Control
  • Infotainment
  • Advertisement

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Some key players dominating this market are as follows:

Sony Corporation, NXP Semiconductors, Oberthur Technologies, Mastercard, Nokia Corporation, Identive Group Inc., Gemalto NV, Broadcom (U.S.), Renesas (Japan), American Express Company, AT & T Inc., Barclays, DeviceFidelity Inc., Google Inc., Infineon Technologies AG, Ingenico SA, Inside Secure, NTT Docomo Inc., Paypal Ltd., Research in Motion Ltd., Samsung Electronics Co. Ltd., Sandisk Corp., ST Microelectronics NV, Texas Instruments, Toshiba Corporation, Tyfone Inc., Verifone Systems Inc., Visa Inc., and others.

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