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Global NFC-enabled Phones and Contactless Smartcards Market to Witness High Growth Due to its Diversified Applications

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Published on : Jan 19, 2016

Near field communication technology is a wireless communication, which enables the exchange of data between devices, which are only a few centimeters away. Presently, businesses around the world are increasingly looking out for innovative methods of saving money, speeding productivity, and a tremendous increasing in sales. In this modern world, near field communication (NFC)-enabled phones and contactless smartcards are considered as a crucial part of the contactless payment industry that marks the development and enhancement of a cashless society. The growing adoption of contactless payment options including NFC-enabled phones and contactless smartcards by customers as well as merchants is boosted due to the growth of digital technology globally.

NFC-enabled phones and contactless smartcards find its applications in several industries such as consumer electronics, payments, information collection and exchange, healthcare, access control, loyalty and coupons, and transport. The diversity of applications is the major factor that is expected to drive the global NFC-enabled phones and contactless smartcards market in the next few years. However, the main concern is the high costs associated in setting up terminals of EPOS, which is expected to curb the growth of the global NFC-enabled phones and contactless smartcards market in the next few years.

Analyzing the growth potential of the global NFC-enabled phones and contactless smartcards market, many companies around the world are expanding their product portfolio to be a part of the industry and create a niche for themselves. The presence of a huge number of players in this market has made it very lucrative and players are spending high amount on research and development to offer innovative products and maintain a top position in the market. 

Some of the key players operating in the global NFC-enabled phones market are Sony, C-mii, Shanghai Simcom, TazTag, Panasonic, LG, Hedy, HTC, Xolo, Sonim, BlackBerry, Orange, Huawei, Casio, Kuoziro, Fujitsu, Sharp, Samsung, Acer, Motorola, Pantech, OiiA Technology, ZTE, Nokia, Lenovo, and Mobiwire. While, some of the key players in the global contactless smartcards market are Fujitsu Microelectronics Limited, Gemalto N.V., CardLogix Corporation, Advanced Card Systems Ltd., Austria Card GmbH, General Information Systems, CPI Card Group, American Microdevice Manufacturing, Inc., FNMT-RCM, ActivIdentity Corporation, and ASK.

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