|By Business Wire||
|September 12, 2012 01:21 PM EDT||
Research and Markets (http://www.researchandmarkets.com/research/65lvnf/global_near_field) has announced the addition of the "Global Near Field Communication Chip Market 2011-2015" report to their offering.
TechNavio's analysts forecast the Global Near Field Communication (NFC) chip market to grow at a CAGR of 135.63 percent over the period 2011-2015. One of the key factors contributing to this market growth is the emergence of contactless technology. The Global NFC Chip market has also been witnessing immense growth in the application market. However, the lack of application level standardization could pose a challenge to the growth of this market.
Key vendors dominating this market space include NXP Semiconductors N.V., and Inside Secure S.A.
Other vendors mentioned in the report: Samsung Electronics Co. Ltd., STMicroelectronics N.V., MStar Semiconductor Inc.
Commenting on the report, an analyst from TechNavio's Hardware team said; ''The growing popularity of Near Field Communication (NFC) among retailers, merchants, and end-users will lead to an increase in NFC-based transactions. Moreover, the NFC Forum is making continuous efforts to improve the NFC infrastructure across the globe. Due to such initiatives, the value of NFC-based transactions is expected to witness impressive growth during the period 2011-2015.''
According to the report, the functionality of various cards such as credit, debit, ID, access, and loyalty can be integrated into a digital wallet, such as an NFC-enabled mobile phone. The usage of NFC-enabled phones will increase with an increase in the number of NFC-based applications that are equipped onto the phone.
For more information visit http://www.researchandmarkets.com/research/65lvnf/global_near_field