Near Field Communication (NFC) technology has been integrated in circuits and incorporated in mobile devices and products to store information and to control transactions. The market has created a new revenue stream in the electronics and semiconductor industry; Americas holds the largest share of this market. NFC technology operates in three modes, namely, card emulation, reader emulation, and peer-to-peer mode. This report highlights the importance of technology in the modern world, giving detailed insights into this industry.
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The market is very dynamic and the involvement of an efficient proper supply chain has helped the industry reach new heights. Given the improvements in the supply chain and distribution, the NFC industry has grabbed the attention of NFC product manufacturers and numerous venture capitalists, which has helped it to generate more revenue with the help of high-quality products and systems.
Continuous research & developments in this technology have enabled new entrants to penetrate the unexploited markets. The Americas hold a major share of the overall NFC market in 2014. The American region has launched the largest commercial mobile NFC payment system and high-quality products, and is becoming the major hub for NFC product manufacturing. The APAC market is expected to grow at a higher CAGR during the forecast period. The increasing mobile phone shipments and growing volume of cashless transactions are the key revenue pockets for NFC manufacturers. Moreover, the developing Asian economies such as India and China are unfolding new growth avenues for companies because these are untapped and emerging markets for new technologies.
NFC is emerging as a major technology in the recent years owing to the innovations in products, devices, and application systems. These components contribute toward the manufacturing of a product, and eventually, a system. NFC is a diverse sector and it has many applications such as payment, transport, booking, data sharing, service, access control, and others including healthcare and NFC tag applications.
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The market is still in its growth stage; and to increase its growth, it needs to analyze and implement new approaches for its applications. Additionally, the capability of NFC-enabled devices and systems cannot be matched or replaced by other technologies.
The profiles of major companies such as Broadcom (U.S.), Gemalto (Netherlands) Inside Secure (France), Infineon Technologies (Germany), Media Tek (Taiwan) NXP Semiconductors (Netherlands), Renesas Electronics Corporation (Japan), Samsung Electronics Corporation (South Korea), STMicroelectronics NV (Switzerland), and Texas Instruments (U.S.) have been included in this report.
