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Near Field Communication (NFC) Market to Reach $47 Billion by 2024 - Unprecedented Growth Over the Forecast Period - Research and MarketsResearch and Markets has announced the addition of the "Near Field Communication (NFC) Market Analysis By Product, By Application And Segment Forecasts Till 2024" report to their offering. The global near field communication (NFC) market is expected to reach USD 47.43 billion by 2024. The industry is poised for an unprecedented growth over the forecast period owing to the increasing penetration of smartphones in the developing economy. Increasing adoption of mobile payment services has led to the intensive utilization of POS with the launch of e-wallet and Apple (News - Alert) Watch. Banking entities, payment gateways, and payment processors are expected to expand the capabilities for accommodating the new enhanced technology. The emergence of the mobile wallet services has allowed users to pay for services through mobile devices or through cashless payment modes, which have further enhanced near field communication market growth. The increasing demand for the NFC-based payment solutions has led the manfacturers to develop an enhanced version of the digital payment platform, further developing the market growth. Growing penetration of wearable technology devices as a significant component of Internet of Things with lowered costs have immensely contributed to the industry growth. The emergence of mobile wallets, such as Android Pay, Apple Pay, and Samsung (News - Alert) Pay, are also expected to further drive the substantial mobile payments growth, owing to their capability of paying through mobile phones instead of cards or any other cashless payment modes. The increasing number of vendors is expected to increase the concentration and propel the development of near field communication infrastructure, thus accelerating the market growth. The increasing need for lowering the cost of ownership and the increased convenience need will continue to dictate the market development. Companies Mentioned:
Key Topics Covered: 1. Methodology and Scope 2. Executive Summary 3. Market Snapshot 4. NFC Industry Outlook 5. NFC Product Estimates and Trend Analysis 6. NFC Application Estimates and Trend Analysis 7. NFC Regional Estimates and Trend Analysis 8. Competitive Landscape For more information about this report visit http://www.researchandmarkets.com/research/stk5gd/near_field View source version on businesswire.com: http://www.businesswire.com/news/home/20161125005269/en/ |
