Albany, NY, Oct. 21, 2014 (GLOBE NEWSWIRE) -- Transparency Market Research, a U.S. based market intelligence firm, has recently published a research report based on the global near field communications market.

The report, titled "Near Field Communication (NFC) Market (By Products - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019", states that the global near field communication market, which valued US$ 1.068 billion in 2012, is expected to acquire net worth of US$20.01 billion by 2018, growing at a very health CAGR of 43.7% during the forecast period.

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The rising adoption of NFC in smartphones is the primary growth factor of the global NFC market. The increasingly popular trend of contactless payment tradition is also allowing good growth of the global NFC market.

The report primarily focuses on three major segments of the global NFC market - popular NFC product types, important application areas, and prominent regional markets.

Product-wise, the report segments the global NFC market into NFC readers, NFC tags, NFC secure elements, and NFC controller ICs (chips). Amongst these, the segment NFC readers accounted for the majority revenue shares, nearly 46%, of the total revenues generated by the global NFC market owing to high selling prices of these devices. Demand for NFC readers is expected to continue its dominance during due to forecast period as well. NFC tags are observing increased demand from application areas such as games and toys, healthcare, and NFC marketing, allowing this market segment to achieve significant market shares in the coming times.

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Amongst the various application areas of the global NFC market, the segment contactless transactions using NFC-enabled devices held the majority percent of market shares, nearly 22%, in 2012. The market segments access control and authentication are fast gaining market proliferation owing to improved security functionalities provided by the NFC technology.

Lack of awareness about the many benefits of NFC technology and concerns regarding privacy and security with NFC devices largely remains a challenge for growth of the global NFC market. However, the end user is becoming increasingly more confident about the use of contactless payments with NFC-enabled devices. This would further lead to significant growth of the NFC market.

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Geographically, the regional market in North America held the highest percent shares of revenue generated by the overall NFC market in 2012. NFC market of North America has observed significant adoption of contactless payments due to a larger consumer-base of smartphone users and pre-existence of NFC compatible infrastructure in the region. The regional markets in Asia Pacific are expected to grow at the fastest pace during the forecast period, owing to high adoption of NFC enabled devices from countries such as Australia, South Korea, China and Japan.

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The global NFC market is highly fragmented with many leading companies operating amid fierce competition. The major companies operating in this highly diversified and fragmented market, profiled by the report, include Toshiba Corporation, Visa, Inc., STMicroelectronics N.V., Broadcom, Inc., Infineon Technologies, Gemalto N.V., Samsung Electronics Co. Ltd., DeviceFidelity, Inc., Identive Group, Inc., NXP Semiconductors, and On Track Innovations (OTI) Ltd., among others.

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