Near Field Communication (NFC) is wireless communication technology. NFC is a short-range communication technology that allows devices to share information. NFC has emerged as an effective alternative to other short-range communication technologies, such as Bluetooth and WiFi. In NFC technology, radio communication is established between devices by touching them simultaneously or bringing them into proximity. The market share of NFC technology is proliferating because of the increasing adoption of this technology into smartphones and smart cameras. According to a study published by Insure Insights, the global near field communication market is anticipated to grow at a CAGR of 19.2% during the forecast period.

Top Driver: Added Advantages and Expanded Application

NFC technology is anticipated to witness significant adoption owing to its various advantages, such as safety, versatility, and convenience. NFC is relatively more secure for transactions than other conventional techniques as it requires PIN and limits the physical access of credit card information to retailers. NFC also provides convenience as it is easy to use, and NFC enabled devices can be carried anywhere without much hassle. NFC technology has a broad range of applications, such as information sharing, contactless payments, information reading from smart posters, and authentication of information when required. Hence, these factors are expected to boost the global NFC market in the coming years.

Sim Cards to Make Crucial Contribution to Growth of the Market

The global near field communication market can be segmented on the basis of product type the market is segmented on the basis of SD Cards, SIM Cards, NFC Cover, NFC ICs, NFC Readers. On the basis of application, the market is segmented into Access Control, Ticketing, Data Sharing, Medical Devices, Product Identification, Others. the data sharing segment is expected to witness high growth in the forecast period.

Rising Adoption Of Smart Appliances to Benefit North America Market

The North American region is anticipated to gain the highest revenue shares in terms of the market size in the forecast period. Asia Pacific is expected to grow at the highest CAGR in the coming years. The increased growth of APAC is attributed to higher growth of the mobile phones shipments and the surge in the adoption of smart appliances in this region in the next few years. The NFC market in APAC is in the emerging stage, and the ongoing development in the region makes it a significant growth and high-potential market.

Players to Focus on Near Field Communication Market

The global market is expected to stay fragmented with the increase in the number of new entrants in the coming years. Broadcom Limited (A subsidiary of Avago Technologies ), Gemalto NV, Group, Inc, Inside Secure, Meditek, Inc, Infineon Technologies AG, NXP Semiconductors, Huawei Technologies Co., Ltd, On Track Innovations (OTI) Ltd among others could be at the forefront of the competition in the global market.

Broadcom Corporation: In 2012, Broadcom Corporation, a global innovation leader in semiconductor solutions for wired and wireless communications, today introduced two new Near Field Communication (NFC) solutions to be showcased at the 2013 Consumer Electronics Show (CES) in Las Vegas. The company announced the industry’s first quad-combo to integrate certified NFC, Bluetooth, Wi-Fi, and FM onto a single chip. Broadcom also announced a single card solution combining its 5G WiFi combo chip with its industry-leading standalone NFC.

Gemalto: In 2015, Gemalto, global provider of digital security solutions, is launching the next generation of its UpTeq Multi-Tenant NFC SIM, supporting multiple transport applications from different city networks by embedding the MIFARE4Mobile v2 application.

Scope of the Report

By Product Type

• SD Cards
• SIM Cards
• NFC Cover
• NFC ICs
• NFC Readers

By Application

• Access Control
• Ticketing
• Data Sharing
• Medical Devices
• Product Identification
• Others

By Region

• North America
• Europe
• Asia Pacific
• SAMEA

Key Reasons to Purchase this Report

1. It provides a technological development map over time to understand the growth rate of the industry.
2. The report offers a dynamic method to various factors that drive or restrain the growth of the market.
3. It renders definite analysis for changing competitive dynamics.
4. It builds a seven-year estimate based on how the market is predicted to grow.