Near Field Communication (NFC) is a wireless technology that offers exchange of data between the NFC technologies enabled devices. NFC is a short range communication technique I and an s an efficient alternative to communication technologies such as Wi-Fi and Bluetooth.
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NFC transfers data by bringing the devices closer or by touching them together. NFC enable the users to seamlessly share data between devices, use their mobile phone as e-ticket or pay bills wirelessly.
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NFC technology has various advantages such as versatility, safety and convenience. It requires PIN and does not allow physical access of credit card information to merchants.
Hence, NFC is much more secure than other techniques of transaction. NFC is very convenient to use.
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The growing trend of cashless transactions worldwide is the key driver for the growth of global NFC market. There is rise in demand for multi-tasking devices globally, hence, consumer electronics enterprises are involved in integrating NFC technology in their tablets and mobile phones to provide a single solution to the consumers.
Also, global NFC Industry is bolstering due to increase in adoption of NFC technology in tablet, smartphones and other similar devices.
NFC allows easy payments and enable users to transfer data, play games, share information and access social networking sites. It can be combined with retailers’ point of sale (POS), healthcare systems and public transit payment systems.
The global NFC Industry is highly driven by increasing penetration of smartphone users for making secure online transactions and contactless payments facility. The rise in mobile internet users also contributes to the global NFC Industry growth.
Whereas, short range of communication is one of the factors that hinders the growth
North America is the leading global NFC Industry in terms of Industry share. Asia Pacific is anticipated to experience a faster growth in the coming years due to rise in adoption of NFC technology and increasing awareness.
Further, Europe region is also projected to be a high potential market.
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Segmentations Covered in the Near Field Communication (NFC) Market
- Product & Software : Auxiliary Products, NFC Software, Non-Auxiliary Products
- Industry : Retail, Transportation, Residential & Commercial, Consumer Electronics, Automotive, Medical & Healthcare, Banking & Finance
- Geographical Analysis: North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), South America (SAM)
Some of the leading players in Near Field Communication (NFC) Market Report
- Broadcom Inc.
- Toshiba Corporation
- Infineon Technologies
- DeviceFidelity Inc.
- Samsung Electronics Co. Ltd.
- Visa Inc.
- Identive Group
- American Express
- MediaTek Inc.
- Renasas Electronics Corporation
- NXP Semiconductors
- Texas Instruments
- Huawei Technologies Co.Ltd.
- Gemalto NV
- Apple Inc.
- Inside Secure
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