Global Market Research Company US Global Near Field Communication (NFC) Market Forec | Page 15

Industry Brief
Near Field Communication (NFC) Market to Grow at 20% during 2017 – 2022
According to TechSci Research report, “Global Near Field Communication (NFC) Market By Product
Type, By Device Operating Mode, By Device Type, By Application, By End Use Industry, By
Region, Competition Forecast and Opportunities, 2022”, the global NFC market is projected to grow
at a CAGR of over 20% during 2017 – 2022. Continuous motivation by healthcare device
manufacturing companies to adopt NFC for secure and reliable communication between NFC
enabled healthcare devices and mobile devices, upsurge in demand for establishing infrastructure for
Industry 4.0. and Internet of Things (IoT), and growing integration in electronic devices such printers,
memory cards, etc., are some of the major factors expected to aid global near field communication
market during forecast period.
Increasing partnership between financial institutes and smartphone manufacturers is resulting in an
increase in adoption of NFC technology. Retail sector is the largest end user of near field
communication (NFC) across the world. In retail sector, NFC is used for offering product information,
tracking customer preferences, distributing loyalty points, contactless payment, etc. In addition, NFC
is implemented by adding it with other products like billboards, digital signage, etc. to enhance
operations of a retail store and reduce traffic at sales desk.
“Surge in demand for automobiles with advanced technologies such as NFC to continuous
connectivity, keyless access, GPS vehicle tracking, connecting mobile devices with car stereo, etc.,
coupled with increasing trend of smart wearables with NFC capabilities are forecast to positively
influence global near field communication market in the coming years.”, said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management consulting firm.
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