Industry Background:
Near-field communication (NFC) is a set of short-range communication protocols that enable two electronic devices to establish communication. NFC technologies have advantages aspects of data sharing and payment. NFC system market has high growth prospects owing to the increasing need for connectivity between different devices and technological advancement in the NFC systems. Additionally, increasing demand for smart appliances from the developing economies expected to fuel the market growth during the forecasted period.
This growth is primarily driven by Increasing Adoption of Smart Appliances and Increasing adoption of smart appliances such as tablets, smartphones, and others boosts the demand for NFC systems because of their ease of use and flexibility. With the increasing penetration of mobile payments, the internet of things, data sharing, and entertainment, and others. NFC system market has high growth prospects. Moreover, increasing awareness about mobile wallets further supplementing the market growth..
Globally, a noticeable market trend is evident Technological Advancement in the NFC Systems
. Major Players, such as NXP Semiconductors (Netherland), Broadcom Corporation (United States), STMicroelectronics NV (Switzerland), MediaTek, Inc. (Taiwan), Renesas Electronics Corporation (Japan), Gemalto NV (Netherlands), Texas Instruments (United States) and Infineon Technologies (Germany) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
21st June 2019, Apple announced to release its iOS 13 operating system for iPads and iPhones with NFC functionality at the World Wide Developers Conference (WWDC).
Market Drivers
- Increasing Adoption of Smart Appliances
- Increasing adoption of smart appliances such as tablets, smartphones, and others boosts the demand for NFC systems because of their ease of use and flexibility. With the increasing penetration of mobile payments, the internet of things, data sharing, and entertainment, and others. NFC system market has high growth prospects. Moreover, increasing awareness about mobile wallets further supplementing the market growth.
Market Trend
- Technological Advancement in the NFC Systems
- Increasing Need for Connectivity between Different Devices
Restraints
- Short-Range Of Communication
Opportunities
Growing Adoption of Mobile Commerce and Rising Demand from the Developing Economies
Challenges
Lack of Awareness among End Users
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, NFC Systems Study Sheds Light on
The NFC Systems Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the NFC Systems industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where NFC Systems industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.