Near field communication system is an addition to short range wireless communication technology following the advent of Bluetooth and WIFI.
NFC differentiates itself from Bluetooth and Wi-Fi by operating on the principle of electromagnetic radio field as compared to the feature of RFID. It facilitates the direct data exchange between two NFC enabled devices such as smartphones eliminating the stepwise procedure required to set up the connection.
It also facilitates data transmission between an active (powered) device such as smartphone and passive (unpowered) devices such smart credit card with an NFC tag. NFC works in a very close proximity of about 10 cm, thereby providing a high degree of secured connection required in crowded locations.
NFC systems finds a large number of applications in data sharing, payment making, tag applications, banking operations, healthcare and others.
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The market for NFC is expected to indicate rapid growth in future with the increasing adoption of mobile commerce and NFC standards at a global level. Potential scope for a large number of applications such as data sharing, payment making, tag applications, banking operations and others will drive the NFC systems market.
In its nascent stage, the market may find the lack of presence for auxiliary equipment required for Near Field Communication which may slow down the growth of NFC systems market. The report includes critical examination of key factors influencing the market with an analysis of market drivers and restraints.
North America and Europe are the leading regions for the NFC systems market owing to the rapid technological evolution in countries such as U.S., Canada, Mexico, U.K, Germany and others. The report showcases the scope and opportunities for the NFC systems market at a global level covering various market segments based on products, applications and geography.
The major players in this market are Gemalto, Broadcom, Infineon Technologies, Inside Secure, NXP Semiconductors, MediaTek, Samsung Electronics Corporation, Renesas Electronics Corporation, Texas Instruments and STMicroelectronics NV. The report highlights the analysis of key players along with their product portfolios, financials, strategies and recent developments.
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