Near Field Communication (NFC) Global Market is Expected to Grow at a CAGR of 40.4% During the Forecast Period 2015-2020
Research Beam added report on “World Near Field Communication Market Technology, Opportunities – Near Field Communication Industry Share, Size, Growth and Forecast 2020”
Near field communication (NFC) is a set of wireless technologies that use magnetic field to facilitate communication between devices when they are kept within a radius of 10 cm from each other. The world near field communication market was valued at $3.2 billion in 2014 and is expected to grow at a CAGR of 40.4% during the forecast period (2015-2020), to reach $24.0 billion by 2020. The world near field communication market has exhibited moderate growth during the past few years; however, it is expected to exhibit robust growth during the forecast period.
Increasing penetration of smartphones for convenient & secure online transactions and growing popularity of contactless payments are some key factors driving the global NFC technology market. Smartphone is the most common NFC enabled device available in the market. These smartphones allow users to interact with other devices such as in-car infotainment system, PCs and laptops to access information & others.
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The world near field communication (NFC) market is segmented on the basis of product type, devices, application and geography. Based on the products available, the market is segmented into auxiliary and non-auxiliary products. NFC tags, NFC chips, and NFC readers are key types of non-auxiliary products, whereas NFC enabled sim and others (NFC covers and cards) are the key auxiliary products discussed in the report. Based on the device type, the market is segmented into smartphone & tablets, PC & laptops and others (infotainment and stereo headphone). Further, NFC technology finds its major applications in mobile/contactless payment, information sharing, user authentication & access control, monitoring healthcare systems and others (service initiation, ticketing, advertising/marketing and inventory management).
Based on geography, the world near field communication (NFC) market is analyzed into North America, Europe, Asia-Pacific and LAMEA (Latin America Middle East and Africa). North America and Europe, are the major adopters of NFC enabled smartphones and tablets. However, Asia-Pacific would witness the highest CAGR of 43.1%, during the forecast period.
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POTENTIAL BENEFITS FOR STAKEHOLDERS:
Comprehensive analysis of the current and future trends in the world NFC technology market have been provided in this report
The report provides a competitive scenario of the world near field communication market with current and future growth trends, structure, driving factors, scope, opportunities and challenges
The report includes a comprehensive analysis of market segments to provide insights about the market dynamics
Porters five forces analysis provides inputs on the potential of buyers and suppliers and highlights the competitive structure of the market that would enable market players to devise effective growth strategies and facilitate better decision-making
Value chain analysis provides key inputs on the role of different stakeholders involved at various stages of the value chain
SWOT analysis of the key market players highlight the essential strengths and potential opportunities in the market
World Near Field Communication Market – Opportunities and Forecasts, 2014 – 2020, market research report, industry size, analysis, trends , share, competitive analysis, company profiles, SWOT analysis
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