Near Field Communication (NFC) Market Analysis and Growth Opportunities, 2015 to 2020

The Near Field Communication (NFC) market is estimated to observe rapid increase across several application verticals over the forecasted period.

ID: 1537987
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(businesspress24) - According to Research Report by Hexa Research, near field communication market is likely to experience rapid growth across various applications in next few years. With increase in technology and increase in smart phone demand globally, this market has grown. The global Market of NFC was calculated at USD 1.06 billion in 2015 and expected to rise at CAGR of 43.1% throughout forecast period from 2015 to 2020.The NFC industry provides major opportunities to direct mail marketing industry. It helps marketers in providing content through an embedded around field communication chip, which allows wireless communication when a user aces a mobile device with close proximity of NFC tag.

Payment options for mobile or m - commerce technology is estimated to take near field communication market into mainstream level. Contactless transactions with NFC enabled devices were the biggest application for this market in 2015, contributed a share for around 21% of global market. The main challenge for NFC contactless payments in upcoming years would be low stage of synchronization with other participants such as credit cards companies or banks, network operators and payment service providers.

In 2015, North America was counted as the largest market with 32% of share contribution for near field communication due to significant demand of early implementation and contactless payments in the market. The NFC market can be categorized into auxiliary and non auxiliary products. Auxiliary products include NFC authorized SIM capacity and data speed is another feature of technology which provides faster data transmission, which is expected to boost the NFC market globally. Increasing usage of NFC technology in social media sector is expected to provide positive impact on market growth.



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Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.

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published by: HexaResearch
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Date: 07/02/2018 - 02:47
Language: English
News-ID 1537987
Character count: 2258
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Firma: Hexa Research
Ansprechpartner: Ryan Shaw Feedback to businesspress24.com about Pressrelease-id:
Stadt: Felton
Telefon: +1-800-489-3075

Meldungsart: Finanzinformation
Versandart: Veröffentlichung
Freigabedatum: 02.07.2018
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