London, 05 December 2014 –According to a new report from research firm TechNavio, the Global NFC Transaction Market is expected to post a staggering CAGR of 47.47 percent from 2015-2019, thanks to growth of the NFC ecosystem across market segments like device manufacturing, telecom, finance and IT.
The NFC mobile payment market is largely driven by its rapid adoption and soaring popularity in the APAC region and African countries. In many APAC countries like China, Japan, and South Korea, manufacturers, network operators, and governments are aggressively advertising the benefits of NFC technology.
About the Report
The ease of use, security and versatility of NFC have attracted many users to this technology. It enables easy payments, and also allows users to access and share information, play games, transfer data, and access social networking sites. It can be easily integrated with public transit payment systems, retailers’ POS, and healthcare systems.
“Growing consumer preference towards NFC-enabled smartphones is providing significant traction to the NFC transaction market for the forecast period,” says Faisal Ghaus, Vice President of TechNavio.
“The increased number of mobile internet users is another major driver contributing to such rapid market growth.”
The latest report from TechNavio also highlights key growth driver, market challenges and trends expected to impact the market over the projected period.
Key Information Covered in the Report:
Market segmentation, size and forecast through 2019
Market Growth Drivers:
- Decline in Prices of NFC Technology
- For a full detailed list, view our report.
Market Challenges:
- Slow Adoption of Payment on NFC Handsets
- For a full detailed list, view our report.
Market Trends:
- Increased Penetration of NFC-enabled Handsets
- For a full detailed list, view our report.
Key Vendors:
- Broadcom Corp.
- Infineon Technologies AG
- MasterCard Inc.
- NXP Semiconductors NV
Other Prominent Vendors:
- PayPal Inc.
- Softcard
- Visa Inc.
https://www.technavio.com/%3Cp%3E%3Ca%20href%3D%22http%3A//www.technavio….
