A newly available report at the ReportsnReports.com, the 'Near Field Communication (NFC) Market by Product, Application and Geography - Global Forecasts to 2022' says that the growth in mobile commerce is providing the market push for the growth in the NFC segment. Standardization efforts by the NFC Forum and GSMA is also another factor for the increased number of deployments in this area. According to ReportsnReports, the NFC market is expected to hit USD16.25 billion by 2022, growing at a CAGR of 8.83%.
At present, America is leading the adoption of NFC while other regions such as Europe, APAC and ROW are trailing behind, following the American terms of the NFC market, said ReportsnReports. In their statement, ReportsnReports highlighted the features of NFC including the high rate of communication with other NFC-enabled devices, better properties to withstand rough environmental conditions, and a longer life that is best suited for the payment, ticketing, booking, and data sharing applications and how these features have enabled the technology to deliver solutions which are reliable, cost effective and sustainable in the long run. ReportsnReports added that one of the greatest advantages of NFC is that it utilizes less power than other wireless technologies.
According to ReportsnReports, the product verticals for NFC comprise the C/chips, tags, readers, micro SD cards and SIM cards while its applications are made up into payment, transportation, booking, service, data sharing, access control healthcare, and tag applications, with payment applications taking the lead in terms of value for 2013. The report listed the major players in the NFC segment, including Broadcom (U.S.), Inside Secure (France), Infineon Technologies (Germany), MediaTek (Taiwan), NXP Semiconductors (Netherlands), Renesas (Japan), Samsung Electronics (South Korea), Sony Corporation (Japan), STMicroelectronics (U.S.), Texas Instruments (U.S.), and Gemalto (Netherlands). The report is available for purchase here.
