The growth of the NFC applications market is expected to be exponential with the revenue growth from $7,686 million in 2011 to $34,515 million by 2016, at an estimated CAGR of 35% from 2011 to 2016. The most attractive of all the segments is the mobile payments segment; followed by the ticketing and access control. The major players that provide chips and controllers for the NFC products are NXP Semiconductors (U.S.), Broadcom (U.S.), and Renesas (Japan).
The NFC market is almost evenly distributed amongst North America, Europe, and APAC. North America and Europe are the major contributors in the NFC chips market with combined share of more than 60%. APAC is fast catching up and had almost one fourth of the share of the total chips market in 2011. APAC is the fastest growing region. This high growth of NFC market in APAC is attributed to the countries such as Japan, China, and South Korea. These countries were amongst the early adopters of technology. Currently, the NFC application market constitutes a smaller group of players. As the market for NFC applications will grow, it is expected that more number of industry players will increase their involvement.
NFC technology has been around since the last few years but hit the market just in 2010. Till 2009, NFC technology was undergoing pilot testing phase. There is a lot of research and development being carried out in this field and several prototypes were made for various products and applications. The applications of NFC technology include mobile payment, access control, ticketing, data sharing, and advertisement. A number of products commercially available as of today are limited, but the market will witness an immense growth in the products and applications for NFC technology in the years to come.
The research report deals with the current trends in the NFC products and applications market as well as the expected future trends in the same. The life cycle of the NFC market is discussed with their future trends. The target applications of NFC technology are discussed with an analysis of the highest attractive market. The report is segmented on the basis of products, applications, technology, and geography.
In 2011, only 5% of the total mobile phones were NFC-enabled; it is estimated that in the coming five years, this number will rise to approximately 46% by 2016. This indicates the rapid adoption of the NFC technology and the increasing mobile application of NFC technology. As more number of NFC products is made available, the market will see the growth in verticals such as retail, ticketing, and smart advertisement application.
This Near Field Communication (NFC) market research report categorizes the global market on the basis of them being used in different products, applications, and the technology being used to view the augmented image, geographical analysis, forecasting revenue, and analyzing trends in the market.