Quantcast
Last updated on April 18, 2014 at 0:03 EDT

MarketsandMarkets: Near Field Communication (NFC) Market Worth $10015.96 Million by 2016

February 1, 2012

DALLAS, February 1, 2012 /PRNewswire/ –

According to the market research report “Near Field Communication (NFC) Market -
Global Forecast & Analysis (2011 – 2016) forecast by Products (NFC Chip, Micro SD Card,
Integrated SIM, Reader & Middleware), Applications (Mobile Payment, Ticketing, Booking,
Data Sharing, Access Control, Non-Payment, Infotainment, Advertisement)” published by
MarketsandMarkets (http://www.marketsandmarkets.com), the total Near Field
Communication applications market is expected to reach $10015.96 million by 2016 at a CAGR
of 38% from 2011 to 2016.

Browse 53 tables and in-depth TOC on Near Field Communication (NFC) Market (2011 -
2016).

http://www.marketsandmarkets.com/Market-Reports/near-field-communication-nfc-market-520.html

Early buyers will receive 10% customization on reports.

Near field communication (NFC) is a set of standards for smartphones and similar
devices to establish radio communication with each other by touching them together or
bringing them into close proximity, usually not more than a few centimeters. Present and
anticipated applications include contactless transactions, data exchange, and simplified
setup of more complex communications such as Wi-Fi Communication is also possible between
an NFC device and an unpowered NFC chip, called a “tag”.

NFC and Bluetooth are both short-range communication technologies which are integrated
into mobile phones. As described in technical detail below, NFC operates at slower speeds
than Bluetooth, but consumes far less power and doesn’t require pairing.

NFC traces its roots back to Radio-frequency identification, or RFID. RFID allows a
reader to send radio waves to a passive electronic tag for identification and tracking.

NFC technology equips user with an ability to make a cashless payment using his/her
mobile phone. In 2011, mobile payment is the major factor driving the NFC market and it
will continue to do so for next five years. The NFC mobile payment market is expected to
cannibalize the smart card payment market. Currently, security and lack of standardization
are the two major issues related to this market. NFC technology is not completely secure
and hence customers have many reservations to make payment via NFC device.

The NFC market includes products such as NFC chips, tags, readers, NFC based micro SD
cards, and NFC enabled SIM/UICC cards. The NFC products market is a highly fragmented
market and each segment reflects different trends. For example, NFC chip market currently
is an almost monopolistic market with NXP Semiconductors holding more than 80% of the
market share, whereas NFC tags market is a highly scattered market with number of players
and flat competition. Both NFC based SIM/UICC cards and micro SD cards are not expected to
reach their full potential as they will slide in to obsolescence due integrated NFC mobile
devices.

Mobile payment application is undoubtedly the most attractive application of NFC
technology. It includes both in-store payment and on-line payment. Near Field
Communication Market [

http://www.marketsandmarkets.com/Market-Reports/near-field-communication-nfc-market-520.html

] is expected to cannibalize the smart cards market for cashless payments. Other
major applications of NFC technology are access control, ticketing, data sharing, and
advertising.

About MarketsandMarkets

MarketsandMarkets is a global market research and consulting company based in the U.S.
We publish strategically analyzed market research reports and serve as a business
intelligence partner to Fortune 500 companies across the world.

MarketsandMarkets also provides multi-client reports, company profiles, databases, and
custom research services. MarketsandMarkets covers thirteen industry verticals; including
advanced materials, automotives and transportation, banking and financial services,
biotechnology, chemicals, consumer goods, energy and power, food and beverages, industrial
automation, medical, pharmaceuticals, semiconductor and electronics [

http://www.marketsandmarkets.com/semiconductorand-electonics-market-research-87.html

], and telecommunications and IT.

We at MarketsandMarkets are inspired to help our clients grow by providing apt
business insight with our huge market intelligence repository. To know more about us and
our reports, please visit our website http://www.marketsandmarkets.com.

        Contact:
        Mr. Rohan
        7557 Rambler Road,
        Suite 727, Dallas, TX 75231
        Tel: +1-888-6006-441
        Email: sales@marketsandmarkets.com
        MarketsandMarkets Blog @ http://www.marketsandmarketsblog.com

http://twitter.com/marketsmarkets

SOURCE MarketsandMarkets


Source: PR Newswire