Latest Report Available at Analytical Research Cognizance,
“Near Field Communication Market” provides pin-point analysis for
changing competitive dynamics and a forward looking perspective on
different factors driving or restraining industry growth.
Global Near Field Communication Market
Near
Field Communication is a technological innovation that uses magnetic
field induction to allow communication between devices to exchange
information when they are tapped together, or brought within a few
centimetres of each other. According to Netscribes, the global near
field communication market is expected to have a significant compounded
annual growth rate of 21.30% and reach a market size of USD 23.82 Bn by
2023.
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The
near field communication (NFC) market is gaining traction due to its
broad adoption in smartphones and tablets. NFC is widely used to pair
devices like headphones and speakers and to exchange data between
smartphones/tablets or other NFC enabled devices. NFC technology is
making payments and transactions much more convenient since it enables
contactless payments by swiping credit cards and electronic ticket
smartcards, instead of inserting and entering pins for card payments.
The
market is expected to grow at a strong rate as it has made its way into
various fields of applications like retail, transportation, healthcare,
etc. Wide adoption in systems like Samsung Pay and Android Pay are
expected to make NFC technology a commonplace by creating mass
awareness. Also, its recent integration with mobile giant Apple (iOS 11)
is expected to help the growth of the market. Not only is NFC being
incorporated in consumer electronics like smartphones and televisions,
but also in the healthcare sector. Implantable medical devices require
high energy efficiency and conservation. NFC technology is suitable for
such uses as the NFC reader can activate the tag only when it is
necessary and transfer power wirelessly.
Based on the end user
industry, the market is segmented into retail, transportation,
healthcare and banking and financial services. Among these segments, the
retail segment accounted for the most significant share of the market
in 2017, as retailers like Burberry, Harvey Nichols, etc., are
continuously adopting NFC technology to enhance shopping experiences in
brick and mortar stores. Beyond reforming payments, NFC is creating
opportunities for retailers to inform and persuade shoppers.
By
product type, the global near field communication market is categorized
into NFC controller chips, NFC tags, NFC readers, and NFC secure
elements. The NFC controller chips are expected to have the highest
growth rate owing to its wide adoption in contactless payment systems
within various industries.
By mode of operation, the market is
segmented into peer to peer, card emulation, and reader/writer segments.
The peer to peer segment has the largest market share while the card
emulation segment is expected to show the highest growth rate during the
forecast period as card emulation mode provides the scope for an NFC
enabled mobile device to function as a contactless smart card, and will
go on to cater to the raised demand for making cashless transactions
smoother in the near future.
By regions, the market is segmented into
North America, Europe, Asia-Pacific, Latin America and the Middle East
and Africa. Asia-Pacific is projected to grow with the highest CAGR
through the forecast period of 2018-2023.
Brief about Near Field Communication Market Report with TOC@ http://www.arcognizance.com/report/global-near-field-communication-market-2018-2023
Key growth factors
The
growing proliferation of smartphones across the globe and the demand
for smooth and prompt cashless transactions are driving the near field
communication market forward. Mobile transactions as a percentage of all
retail store transactions have risen manifolds in developed countries
over the last few years. The use of smart passes/cards while travelling
within the transportation industry is also driving the market forward.
Also, the integration of the NFC technology by Apple and Android is
expected to create more scope for the development of the market.
NFC
technology is less prone to hacking compared to other forms of wireless
connectivity solutions like Bluetooth, Wi-Fi, etc., since NFC
connections can be enabled only when two devices are brought close to
one another, thus, driving the adoption of NFC in companies involved in
money transactions.
Threats and key players
Although
the global near field communication market is expected to have
significant growth, the biggest challenge to the growth of the market is
low awareness among people of many regions about its uses. Also, the
high cost of NFC chips often deters its adoption especially by those in
developing regions of the world. The rising concern over data security
and privacy while using NFC is another significant challenge for the
adoption of the technology. The probable data security attacks like
eavesdropping, data corruption or modification, interception attacks,
and physical thefts are possible while using near field communication
technology.
Some of the major players in the global near field
communication market are NXP Semiconductors, Broadcom, Gemalto and
Inside Secure.
What’s covered in the report?
1. Overview of the global near field communication market
2.
Historical, current and forecasted market size data for NFC controller
chips, NFC tags, NFC readers, NFC secure elements markets
3.
Historical, current and forecasted market size data for retail,
transportation, medical, banking and financial services markets
4. Historical, current and forecasted market size data for peer to peer, card emulation, reader/writer markets
5.
Historical, current and forecasted regional (North America, Europe,
Asia Pacific, Latin America, Middle East & Africa) market size data
for the near field communication market segmentations (by product – NFC
controller chips, NFC tags, NFC readers, NFC secure elements, by
end-user industry – retail, transportation, medical, banking and
financial services , by mode of operation – peer to peer, card
emulation, reader/writer)
6. Market trends in the global near field communication market
7.
Qualitative analysis of the key drivers and challenges affecting the
global near field communication market and its segmentations (by product
– NFC controller chips, NFC tags, NFC readers, NFC secure elements, by
end user industry – retail, transportation, medical, banking and
financial services , by mode of operation – peer to peer, card
emulation, reader/writer)
8. Analysis of the competitive landscape and profiles of major players operating in the market
Why buy?
1. Get a broad understanding of the global near field communication market
2.
Get region-specific market size and observations for the global near
field communications market and its segmentations (by product – NFC
controller chips, NFC tags, NFC readers, NFC secure elements, by end
user industry – retail, transportation, medical, banking and financial
services , by mode of operation – peer to peer, card emulation,
reader/writer)
3. Get specific drivers and challenges for the global
near field communications market and its segmentations (by product – NFC
controller chips, NFC tags, NFC readers, NFC secure elements, by end
user industry – retail, transportation, medical, banking and financial
services , by mode of operation – peer to peer, card emulation,
reader/writer)
4. Recognize major competitors’ business and market dynamics, and respond accordingly
Customizations Available
With
the given market data, Netscribes offers customizations according to
specific needs. Write to us at support@researchonglobalmarkets.com.
COMPANIES COVERED:
NXP Semiconductors
STMicroelectronics
Gemalto
Inside Secure
Broadcom
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Some Points From TOC:
Chapter 1: Executive summary
1.1. Market scope and segmentation
1.2. Key questions answered
1.3. Executive summary
Chapter 2: Introduction
2.1. Market definitions
– By product (NFC controller chips, NFC tags, NFC readers, NFC secure elements)
– By end user industry (retail, transportation, medical, banking and financial services)
– By mode of operation (peer to peer, card emulation, reader/writer)
Chapter 3: Global near field communication market overview
3.1. Global market overview
– Global historical (2015-2017) market size (USD Bn)
– Global forecasted (2018-2023) market size (USD Bn)
– Geography wise market size (USD Bn) in 2017 and 2023
– Key observations
3.2. Global trends
Chapter 4: Global near field communication market segmentation – by regions
4.1. North America
– Historical (2015-2017) market size (USD Bn)
– Forecasted (2018-2023) market size (USD Bn)
– Drivers
– Challenges
– Trends
4.2. Europe
– Historical (2015-2017) market size (USD Bn)
– Forecasted (2018-2023) market size (USD Bn)
– Drivers
– Challenges
– Trends
4.3. Asia Pacific
– Historical (2015-2017) market size (USD Bn)
– Forecasted (2018-2023) market size (USD Bn)
– Drivers
– Challenges
– Trends
4.4. Latin America
– Historical (2015-2017) market size (USD Bn)
– Forecasted (2018-2023) market size (USD Bn)
– Drivers
– Challenges
– Trends
4.5. Middle East and Africa
– Historical (2015-2017) market size (USD Bn)
– Forecasted (2018-2023) market size (USD Bn)
– Drivers
– Challenges
– Trends
