Near Field Communication Market Introduction
In the recent past, need for enhanced contactless communication methods has increased at a substantial rate across worldwide. The emergence of mobile communication technologies has empowered end users to access data on their mobile devices from anywhere. NFC is a type of wireless communication standard that enables connected devices—such as smartphones, laptops, and tablets in close proximity—to establish a communication channel through radio frequency waves. It maintains interoperability between various wireless communication methods such as FeliCa—NFC standards popular in Japan—and Bluetooth. Enhanced security and compatibility are some of the key factors that have increased the popularity and adoption of NFC technology-based devices for data communication and contactless payment.
Increase in adoption of Bluetooth Beacons—Bluetooth Low Energy (BLE) devices—in retail stores to enhance overall customer experience is projected to drive the growth of NFC market. In addition, the proliferation of mobile devices across the globe is increasing the uptake of NFC technology enabled devices among end-users. However, availability of alternative connectivity technologies along with short-range coverage of NFC technology is expected to impact the adoption of the near field communication technology.
The near field communication market has been bifurcated into various segments to track market performance from various perspectives. Major segments analyzed are application and product. Based on application the near field communication market is segmented into booking, payment, data sharing, medical, service, ticketing, games & toys, authentication & access control, and others. By product, the near field communication market includes NFC readers, NFC controllers ICs, NFC secure elements, and NFC tags.
We have studied major regions such as North America, Latin America, Asia Pacific (APAC), Latin America, and Middle East & Africa (MEA). Of aforementioned regions, North America and Western Europe constituted over 50% of the overall market share in 2015. Also, both the regional markets are expected to remain dominant over the forecast period. Further, the NFC market in Asia Pacific is anticipated to expand at a significant CAGR from 2017 to 2023 owing to growing adoption of NFC tags and technology in manufacturing and retail sectors in the region.
Near Field Communication Market Competitive Landscape
Key players analyzed in the near field communication (NFC) market include Gemalto N.V., Toshiba Corporation, Broadcom Corporation, ST Microelectronics N.V., Visa, Inc., DeviceFidelity, Inc., On Track Innovations (OTI) Ltd., Samsung Electronics Co. Ltd, Identive Group, Inc and NXP Semiconductors N.V.
Major Regions/Countries include:
- North America
- Western Europe
- United Kingdom
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific (APAC)
- Rest of Asia-Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa (MEA)
- North Africa
- South Africa
- Rest of MEA
This research report on near field communication market would be produced using first-hand market information gathered from industry experts and major participants across the value chain, during primary research. It would provide broad view of current market trends, growth factors and competitive analysis.