The demand within the global near field communication (NFC) market is rising on the back of increased need for connectivity and data-sharing across electronic devices. The use of near field communication established a one-way protocol for transfer of files and data. It is, therefore, evident that the application of near field communication spans into a wide array of industries. The growing popularity of smart phones has played an integral role in driving demand. In most cases, smartphones are either at the receiving or transmitting end of NFC.
The application of near field communication (NFC) for commercial applications has played an integral role in market growth. The need for ensuring safety of transactions across several payment channels has generated humongous demand within the global market. Furthermore, NFC has been accredited as a safe channel to transfer files, share data, and make payments. Owing to the utility of NFC, the technology is inviting discussions across the world. Moreover, the unavailability of a substitute technology for NFC has also aided market growth,
The support gained by NFC technologies from smart phones vendors has given a thrust to market growth. In September 2014, Apple extended its support in integrating NFC for its Apply Pay feature. This move gave an impetus to the growth of the global near field communication (NFC) market.
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It is safe to expected that the growth of commerce and trade would give a thrust to the growth of the global near field communication (NFC) market. NFC also comes in handy for bootstrapping connections, and this is a key consideration across several industries. Companies such as Samsung, Sony, and Blackberry are some of the devices that use NFC for establishing Bluetooth connectivity.
Social Networking as a Prominent Demand Driver
The use of the technology across social media platforms has played a vital role in driving demand within the global near field communication (NFC) market. Sharing of images, videos, and files can be facilitated with the help of NFC technologies. Furthermore, mobile games for multiple players are also developed with the help of NFC.