Near Field Communication Enabled Handsets
Global sales of Near Field Communication (NFC) Enabled Phones are projected to reach 2.7 billion units by 2024, driven by growing consumer preference for the convenience offered by automated ticketing, contactless payments, access control and transfer of media files such as photos, videos and contacts. Few of the factors which provide the foundation for growth in the market include healthy sales of smartphones and expanding base of smartphone users; ubiquitous use of smartphones for myriad non-voice activities including e-commerce transactions; standard Android SDK support for developing NFC reader and tags applications; and rise in mobile banking and the ensuing need for safe and easy modes of payments.
Few of the benefits of NFC technology driving its widespread deployment on smartphones include:
- ability to function on low frequencies;
- effective short range communication;
- easy access to resources without dependence on internet connectivity;
- ease of use and convenience of secure contactless payments;
- superior user experience;
- versatility in application possibilities;
- and simple to install, upgrade and enhance.
Download Free Sample Pages of this report
In the enterprise environment, NFC holds the potential to enhance the effectiveness and success of BYOD projects and programs by enabling employees share real-time information with each other; enable better employee communications; and reduce communication expenses for the company. In the consumer market, NFC is valued for its social sharing and networking benefits. A key trend in the market is the migration of physical and logical security access control from traditional card based systems to smartphones where NFC is poised to play a pivotal role in authenticating digital ID credentials. Asia-Pacific represents the largest market worldwide supported by increased government push for a cashless society and the ensuing popularity of digital payments; digitalizing lifestyles of the growing base of affluent middle class population and a parallel increase in appetite for smartphones and tablets; growing prominence of South Korea and Taiwan as semiconductor manufacturing hubs and excellence centers for innovation; and declining prices of NFC controller chips; among others. Latin America is poised to emerge as the fastest growing market with a CAGR of 24.2% over the analysis period.
Company and Industry News & Stories
- STMicroelectronics Unveils ST54J SoC Integrated NFC Controller with Secure Element, and eSIM
- NXP and Kaios Collaborate in a Move to Integrate NXP’s NFC Solution on Kaios Lite Devices
- NXP Introduces NTAG DNA Tag Chip Designed for Delivering Privacy Enabled, Multi-Layered Security for NFC and IoT Authentication Applications
- Karbonn to Roll Out Handsets with Integrated NFC and LTE Technologies in a Move to Offer Low-Cost NFC Enabled Handsets in the Indian Market
- STMicroelectronics Powers TicWatch Pro Smart Watch with NFC Technology Designed to Enhance Contactless User Experience
Product Definition & Scope
- A standards-based wireless communication system that evolved from RFID technology, Near Field Communications (NFC) uses a reader/writer and tag for establishing simple and safe short range communications between enabled electronic devices. NFC is based on technology specified by international standards, which enable easy transfer of information between two objects over short distances. Unlike RFID from which it evolved, NFC helps establish two-way communications between devices and therefore when integrated into devices, can be used for range of applications. Also, NFC is typically confined to working range of 4 inches.
Timeline for Analysis
- Market Estimates and Forecasts for 2016-2024
- Historic Review 2011-2015
Geographic Markets Analyzed
- US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, South Korea and Rest of Asia-Pacific), Middle East & Africa, and Latin America
- Huawei Technologies Co., Ltd.
- LG Electronics
- Nokia Corporation
- Samsung Electronics Co., Ltd.
- ZTE Corporation
- Broadcom Corp.
- NXP Semiconductors NV
How Can You Benefit?
This research project broadly covers analysis of all market trends, drivers, challenges and other macro market scenarios you need to know to improve your strategic planning and remain informed and competitive. The study also provides reliable ready facts and exclusive statistical data insights in addition to expert and highly accurate market size forecasts and projections to help you identify new markets and opportunities for revenue growth and sustainability. The extensive reportage of industry, company and product news and stories together with coverage of all major and niche players provided in the report helps you build a 360 degree perspective on your markets and gain unsurpassed insights needed to devise plans and strategies to maximize business growth.