The near field communication (NFC) market is expected to reach $16.25 billion by the end of 2022 at a CAGR of 8.83%.
The major players in this field include Broadcom (U.S.), Inside Secure (France), Infineon Technologies (Germany), Gemalto (Netherlands), NXP Semiconductors (Netherlands), Renesas (Japan), Samsung Electronics (South Korea), Sony Corporation (Japan), STMicroelectronics (U.S.), and Texas Instruments (U.S.).
This supply chain is of critical importance to the industry. Indeed, it is well-known that SMEs, alongside academia, generate a large proportion of novel innovative technologies. The major players in this field include Broadcom (U.S.), Inside Secure (France), Infineon Technologies (Germany), Gemalto (Netherlands), NXP Semiconductors (Netherlands), Renesas (Japan), Samsung Electronics (South Korea), Sony Corporation (Japan), STMicroelectronics (U.S.), Texas Instruments (U.S.).
Near Field Communication (NFC) technology has been integrated in circuits and incorporated in mobile devices and products to store information and control transactions. The NFC market in electronics and semiconductor industry has created a new revenue stream in the electronics industry, having Americas as the crown holder of the overall ecosystem.This technology is basically operated in three modes, namely, card emulation, reader emulation, and peer-to-peer mode. This report highlights the importance of NFC technology in the modern world, giving details of the vital points related to this industry.
The NFC market is very dynamic and the involvement of a proper supply chain has helped the industry to reach new heights. Due to the improvements in effective supply chain and distribution, this industry has grabbed the attention of NFC product manufacturers, and numerous venture capitalists to generate more and more revenue with the help of high quality products and systems.
Continuous research &development inthistechnology has allowed new entrants to penetrate in the unexploredmarkets. America holds a major share inthe overall NFC market. The American region has launched the largest commercial mobile payment system and high quality products; hence,it has become the major hub of NFC product manufacturing. APAC is expected to grow at a high CAGR throughout the forecast period.
NFC is emerging as a major technology in the recent years due to the innovations in products, devices, and application systems. These components contribute towards themanufacturing of a product and eventually a system. NFC is a diverse sector and it can be found in many applications like payment, transport,ticket booking, data sharing, service, access control,and other such applications including healthcareand tag applications. In future, mobile payment and the tag applications will be utilized in more business verticals.
There may be downside in technology due to the lack of awareness among the customers. There is user indifference regarding this technology due to some key issues like data security. The future of NFC is expected to be bright, as in next few years the application area for the technology will get wider, and people will get to know about the technology and will be accustomed to it.
NXP Semiconductor (Netherlands) is the market leader in manufacturing NFC chipsets for mobiles phones. NXP semiconductors along with eID specialist Ageto (Germany) have developed National ID app that can be used as an ID proof by the German populace.With the help of NXP's SmartMX technology embedded in the ID card and Ageto eID client (Germany), the public can use the cards with NFC enabled mobile phones to show their identity. This new NFC-based solution provided by NXP semiconductors and Ageto offers various benefits both for citizens and the authorities. This solution is quick, less complex, and secure, and will happen in real-time.
Broadcom Corporation (USA) is a leader in providing solutions for wired and wireless communication. The company designs a BCM2079xfamily NFC controller, especially for low power mobile application. The BCM20792 NFC controller designed by Broadcom along with Wi-Fi technology is used by Brother Industries Ltd. (Japan) in their printers, to bring to the consumers the first NFC enabled printers. The new multi-function printers by BrotherIndustries (Japan) will allow the users to tap their NFC and Wi-Fienabled smartphone to the printer, which willstart the printing or scanning mode operation and then use WLAN transmission to print the document.