NFC-Enabled Phones and Contactless Smartcards Market – Perspective with Study of Key Players & Revenue to Steady Growth Forecast To 2024

Global NFC-Enabled Phones and Contactless Smartcards Market: Overview

Near field communication or NFC is considered one of the present times’ most intuitive interfaces enabling seamless interoperability between proprietary wireless networking platforms. The capability of performing safe contactless transactions quickly, connecting electronic devices in the simplest manner, and accessing digital content with merely a wave or touch near places having contactless card readers are all working towards heightening the popularity of this technology among consumers.

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It should not come as a surprise that NFC is rapidly being found as a standard functionality in a number of mobile computing devices, as compulsively as the earlier models of smartphones came with technologies such as Bluetooth and infrared connectivity.

Global NFC-Enabled Phones and Contactless Smartcards Market: Trends and Opportunities

The increasing realization regarding the vast potential applications NFC-enabled phones and contactless smartcards is the key factor expected to drive the market for these technologies in the next few years. However, factors such as high expenses involved in setting up electronic point of sale (EPOS) terminals and data security issues are expected to restrict the growth of the market to a certain extent.

Some of the key areas utilizing the potential of these technologies presently are cashless payments, information exchange, consumer electronics, transport, access control, loyalty and coupons, and healthcare. Service industries are increasingly using NFC-enabled phones for reducing queuing time, improving service delivery, gaining better insights about consumers and their buying habits and trends, and making payments more convenient, collectively increasing the revenue opportunity of the business.

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Global NFC-Enabled Phones and Contactless Smartcards Market: Geographical and Competitive Dynamics

From a geographic perspective, regions such as North America and Europe are presently the leading markets for NFC-enabled phones and contactless smartcards. High pace of adoption of technologically advanced electronic devices across the retail and hospitality industries and the presence of affluent and digitally-aware consumers make these regions the leading markets for NFC-enabled phones and contactless smartcards.

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In the near future, Asia Pacific is also expected to emerge as a leading market for NFC- enabled phones and contactless smartcards owing to the rising consumer base of smartphones and the increasing adoption of cashless payments.

Some of the leading companies operating in the global NFC-enabled phones market are Pantech, Mobiwire, Sharp, Sony, Orange, Panasonic, Hedy, Shanghai Simcom, Fujitsu, Acer, HTC, OiiA Technology, Samsung, ZTE, Kuoziro, BlackBerry, Huawei, Lenovo, Nokia, Motorola, LG, Xolo, C-mii, and Casio.

Leading companies operating in the global contactless smartcards market profiled in the report include General Information Systems, Gemalto N.V., Fujitsu Microelectronics Limited, FNMT-RCM, CardLogix Corporation, CPI Card Group, ActivIdentity Corporation, Advanced Card Systems Ltd.,American Microdevice Manufacturing, Inc., and Austria Card GmbH.

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