Industry Background:
The NFC (near-field communication) transaction is an innovative, standards-based, short-range wireless connectivity technology that uses magnetic field induction to allow communication between electronic devices like smartphones in close proximity. Based on RFID technology, NFC offers a medium for the identification protocols that validate secure data transfer. It enables users to perform intuitive, safe, contactless transactions, simply by touching or bringing devices into close proximity. This involves at least one transmitting device, and another to receive the signal. A range of devices can use the NFC (Near Field Communication) standard and will be considered either passive or active.This growth is primarily driven by The Growing Proliferation of Smartphones across the Globe, The Demand for Smooth and Prompt Cashless Transactions, The Integration of the NFC Technology by Apple and Android and Enhanced User Experience and Trust in Contactless Technologies.
Globally, a noticeable market trend is evident The Rapid Surge in Contactless Transactions. Major Players, such as Apple (United States), Google (United States), MasterCard (Unite States), PayPal (United States), Samsung (South Korea), Visa (United States), American Express (United States), Broadcom Inc. (United States), Gemalto (Netherlands) 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.
On 10 Oct 2018, MagTek, has announced the launch of DynaWave, MagTek's latest OEM channel payment peripheral. With the increasing contactless as well as NFC payment environment in mind, the company accepts a wide array of payment solutions including, Apple Pay, EMV Contactless, D-PAS, PayPass, payWave, ExpressPay, Google Pay, and Samsung Pay.
Market Drivers
- The Growing Proliferation of Smartphones across the Globe
- The Demand for Smooth and Prompt Cashless Transactions
- The Integration of the NFC Technology by Apple and Android
- Enhanced User Experience and Trust in Contactless Technologies
Market Trend
- The Rapid Surge in Contactless Transactions
Restraints
- Short-Range Communication
Opportunities
Growing Need for Connectivity between Different Devices
Challenges
Lack of Consumer Awareness and Security Issues with SE Personalization, Management, Ownership, and Architecture
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 Transaction Study Sheds Light on
The NFC Transaction Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the NFC Transaction industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where NFC Transaction 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.