Near field communication market

Near Field Communication Market

Opportunity Analysis and Industry Forecast, 2016-2023

Global Opportunity Analysis and Industry Forecast, 2014-2020

Introduction • NFC Market (Near Field Communication Market) is expected to garner $24.0 billion by 2020, registering a CAGR of 40.4% during the forecast period 2015-2020.

• Near field communication (NFC) is an array of protocols based on a wireless interface that enables communication devices and electronic gadgets to establish radio communication with each other under proximity.

• Near field communication, technology is mainly used in smartphones, laptops, and tablets for short range of data exchange (up to 10cm or less).

• Major factors that impact the NFC market size are convenient transfer and security of data, increasing penetration of smartphones, contactless payments, high costs of installations, and security concerns.

• Asia-Pacific region is expected to exhibit a faster growth over the forecast period 2015-2020.

Key Factors • Increased penetration of smartphones and tablets in developed and developing regions, is the key driving factor for the growing adoption of NFC technology.

• Mobile or contactless payment dominated the global near field communication market by application, accounting for 33% market share in terms of revenue in 2014.

• Mobile payment offers faster transactions as compared to conventional cash, credit or debit card transaction.

• NFC readers garnered the maximum share in 2014 (accounting for 45%) of the total market revenue.

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Key Benefits of the Market • Mobile/contactless payment application dominated the NFC market, owing to its outstanding benefits of secure payment

• NFC readers contributed the largest market share in 2014. However, NFC chip and other • NFC product segments are expected to exhibit a faster growth

• North America would be the dominant geography in the NFC market throughout the forecast period (2015-2020) owing to the widespread adoption of NFC technology in different applications • NFC technology is mainly used in different devices such as smartphone, pc/laptop and others, including NFC card and infotainment systems. Among all the devices, smartphone is the prime revenue contributor in global market

Market Segmentation

Key Players of the Market Key companies profiled in the report include,

• Infineon Technologies •

Apple Inc.

•

NXP Semiconductors

•

Samsung Electronics Co. Ltd.

•

Broadcom Corporation

•

Toshiba Corporation and

•

Inside Secure (now acquired by Intel)

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