DUBLIN, Dec. 16, 2015 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/qxtvml/near_field) has announced the addition of the "Near Field Communication Market - Global Forecast to 2020" report to their offering.
The total market is expected to reach USD 21.84 Billion by 2020, at a CAGR of 17.1% between 2015 and 2020
The demand for NFC-enabled devices is growing at a tremendous rate and the transition from conventional ways of data transfer to intelligent technology would further boost the development of the market in the next five years. The decreasing prices of NFC chips, adoption of mobile commerce, growing volume of cashless transactions, and growing adoption of smart appliances are some of the major factors driving the market around the world.
Currently, the retail industry holds the largest share of the overall market. Factors such as growing non-cash transactions, NFC-enabled PoS terminals, and adoption of electronic shelf labels contribute to the largest market size of the retail industry. The automotive industry is expected to grow at the highest CAGR during the forecast period. Factors such as demand for in-car infotainment and touchless controls are driving the NFC market in the automotive industry. Major automotive manufacturers focus on incorporating additional features in their cars to provide additional safety and control features to their customers.
The peer-to peer operating mode dominated the market. This operating mode enables two-way communication between two NFC-enabled devices. Given the growth of NFC mobile phones, this mode is expected to grow at the highest CAGR during the forecast period.
The market for non-auxiliary/in built products is largest as compared to the other products. Auxiliary products are built into the device to facilitate NFC communication. These products include chip and ICs that enable a product to interact using this technology. The major consumer electronics companies focus on incorporating in-built NFC features into their products, and this is the major reason for the largest market size of non-auxiliary products.
The Americas currently dominate the market in terms of market size and APAC is expected to grow at the highest CAGR during the forecast period. The high growth of APAC is attributed to the growing shipments of mobile phones and the higher adoption of smart appliances in this region. The NFC market in APAC is in the emerging stage and the ongoing development in the region makes it a lucrative and high-potential market.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 NFC Market, By Device Operating Mode
8 NFC Market, By Product and Software
9 Market, By Industry
10 Geographic Analysis
11 Competitive Landscape
12 Company Profiles
- Broadcom Corporation
- Gemalto Nv
- Huawei Technologies Co., Ltd.
- Inside Secure
- Mediatek Inc.
- Nxp Semiconductors
- Renesas Electronics Corporation
- Samsung Electronics Co., Ltd.
- Texas Instruments
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SOURCE Research and Markets