The global NFC systems market to grow at a CAGR of 13.43% during the period 2017-2021.
Global NFC Systems Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion operating in this market. Many mobile phone operators are looking for ways to further develop this technology. To calculate the market size, the report considers the revenue generated from the sales of NFC systems to various industries.
According to the report, one of the major drivers for this market is increasing awareness about NFC technology among merchants. The increasing awareness about NFC technology among merchants has resulted in the growing adoption of NFC systems, which is driving the growth of the global NFC systems market. NFC systems help merchants obtain operating cost benefits, such as reduced cash processing, and more effective consumer engagement.
The latest trend gaining momentum in the market is emergence of HCE. The emergence of host card emulation (HCE) is one of the latest trends in the market. HCE wearable devices and smartphones perform card emulation on NFC-enabled devices without depending on a secure element. If NFC system vendors reshape the value chain and the business model and introduce the use of HCE, the market will likely grow. Built-in security features, such as an iris scanner and fingerprint reader, are additional safety features for HCE.
Further, the report states that one of the major factors hindering the growth of this market is growing demand for upgraded NFC POS terminals. In the last five to eight years, retailers have focused on cutting costs and enhancing operational efficiency. Retailers that are established in unprofitable locations tend to discontinue operations and sell their assets, which include NFC POS terminals. To cut costs and reduce the overall cost of ownership, other retailers operating in the same market or location, buy these NFC POS terminals.
- INSIDE SECURE
- NXP Semiconductors
- Renesas Electronics
Other prominent vendors:
Key Topics Covered:
Part 01: Executive summary
Part 02: Scope of the report
Part 03: Research Methodology
Part 04: Introduction
Part 05: Market landscape
Part 06: Market segmentation by product
Part 07: Market segmentation by industry
Part 08: Geographical segmentation
Part 09: Key leading countries
Part 10: Decision framework
Part 11: Drivers and challenges
Part 12: Market trends
Part 13: Vendor landscape
For more information about this report visit https://www.researchandmarkets.com/research/7ccpql/global_nfc.