Near Field Communication (NFC) Market 2018 -Develop Market-Entry and Market Expansion Strategies

Author: Akash Sangshetti

Global Near Field Communication Market - Overview

Near Field Communication (NFC) is a short-range wireless connectivity standard that uses magnetic field induction to enable communication between devices when they're touched together, or brought within a few centimetres of each other. Both businesses and individuals benefit from near field communication technology. By integrating credit cards, subway tickets, and paper coupons all into one device, a customer can board a train, pay for groceries, redeem coupons or store loyalty points, and even exchange contact information all with the wave of a smartphone. Faster transaction times mean less waiting in line and happier customers.

Due to growing adoption of near field communication technology in smartphones and similar devices the market for near field communication is growing rapidly. Due to its ease of use and accuracy, the demand for near field communication has increased in the recent past.

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NFC offers better collaboration in corporate environments by ensuring speedy and secure sharing of documents, files, and confidential data. In case of payments, the card details of the consumer are stored on the mobile phone in a secure element. This takes the form of a Subscriber Identity Module, secured chips or a secure digital card and the fact that hardware encryption can be only used in close proximity to the point of sale makes it one of the most secure payments. This feature acts a major pull factor to attract new customers and users of NFC technology and technology-enabled devices. Owing to these factors, NFC market growth is likely to witness a positive impact over the forecast period.

Key Players

The prominent players in the Near Field Communication Market are- NXP Semiconductors (Netherlands), Broadcom Corporation (U.S.), Samsung Semiconductors (South Korea), Intel Corporation (U.S.), Qualcomm Inc. (U.S.), Austria Micro Systems (Austria), ST Micro (Switzerland), Texas Instruments (U.S.), MStar Semi (Taiwan), Flomio (U.S.) among others.

Some other players in this segment are- Blue Bite LLC, HID Global, Cellotape Smart Products, Advanced Card Systems Holdings Limited, Thinfilm, Smartwhere, Smartrac among others.

Study Objective of Near Field Communication Market

  • To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the Global Near Field Communication Market
  • To provide insights about factors affecting the market growth
  • To analyze the Near Field Communication market based on various factors- value chain analysis, porter’s five force analysis etc.
  • To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World (ROW)
  • To provide country level analysis of the market with respect to the current market size and future prospective
  • To provide country level analysis of the market for segment by device, by type, by application and sub-segments
  • To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
  • To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the Global Near Field Communication Market

Global Near Field Communication Market - Segmentation

The Near Field Communication Market can be segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;

  • Segmentation by Device: Comprises Smartphones, Tablets, Laptops & Computers among others.
  • Segmentation by Type: Comprises Non-Auxiliary & Auxiliary.
  • Segmentation by Application: Comprises BFSI, Transpiration, Data Exchange, Healthcare among others
  • Segmentation by Region: Comprises Geographical regions - North America, Europe, Asia Pacific and Rest of the World.

Global Near Field Communication Market - Regional Analysis

North-America is dominating the global near field communication market with the largest market share and therefore accounting for astronomical amounts and is expected to grow over its previous growth records by 2022. Currently, Asia Pacific is the fastest growing region, contributing a large part of the total revenue in the near field communication market. Adoption of NFC technology in smartphones has increased in regions such as Australia, Japan, South Korea, and China. Heavy demand for smartphones and growing consumer electronics industry is giving fuel to the market. Increasing security proliferation in the BFSI industry is also driving the market of NFC.

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Target Audience

  • BFSI
  • Security Provider Firms
  • Contactless Chip Manufacturers
  • Consumer Electronic Manufactures

The report for Global Near Field Communication Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

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