There is a consensus NFC-ready POS terminals globally will grow at a compound annual growth rate (CAGR) of 28.4% from 23 million units in 2015 to 75 million units in 2019.
According to new report from KBV Research, NFC technology’s potential is anticipated to make NFC a leading technology for mobile payments, due to the convenience offered through mobile wallet’ for transaction purposes.
In 2014, NXP semiconductors introduced its Newark element14, which supports all three NFC modes reader mode, peer-to-peer modes, and card emulation standards.
Apple has signed an agreement with 5 major banks of Canada including the top bank, Royal bank of Canada for participating directly to the Apple Pay.
This is one of the biggest achievements for Apple Inc. for tokenizing cards using NFC in Canada.
Based on the product type, the North America NFC market is segmented into auxiliary and non-auxiliary NFC type. Auxiliary NFC products are subdivided into NFC based sim card and others (NFC card, NFC Cover). Non-auxiliary type is sub-segmented into NFC Chips, NFC Tags and NFC Reader.
NFC reader garnered maximum revenue in 2014.
The North America NFC market, based on device type, is segmented across smartphone & tablets, pc & laptops and other devices (Infotainment, headsets).
Further, the market covers different NFC applications that include mobile/contactless payment, information sharing, user authentication & access control, healthcare, and others (service initiation, ticketing, advertising/marketing, and inventory management).
Among all these applications, mobile/contactless payment is the most popular application segment that has contributed maximum revenue in 2014 of the total market; whereas, healthcare is showing prominent growth during the forecast period.
Based on country, NFC market is segmented into US, Canada, Mexico and Rest of North America. US remained the dominant region in the North America NFC market in 2014.
The KBV report covers the analysis of key stake holders of the NFC market. Key companies profiled in the report include Infineon Technologies AG, Apple Inc., SONY Corporation, Toshiba Corporation, NXP Semiconductors N.V., Samsung Electronics Co. Ltd., Broadcom Corporation, Texas Instruments Incorporated, STMicroelectronics N.V. and INSIDE Secure.
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