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Near Field Communication Applications Market to Reach $10015.96 Million by 2016 at a CAGR of 38% From 2011 to 2016 – New Report by MarketsandMarkets
Date:8/18/2013

(PRWEB) August 18, 2013

According to the market research report “Near Field Communication (NFC) Market – Global Forecast & Analysis (2011 – 2016) forecast by Products (NFC Chip, Micro SD Card, Integrated SIM, Reader & Middleware), Applications (Mobile Payment, Ticketing, Booking, Data Sharing, Access Control, Non-Payment, Infotainment, Advertisement)” the total Near Field Communication applications market is expected to reach $10015.96 million by 2016 at a CAGR of 38% from 2011 to 2016.

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Near field communication (NFC) is a set of standards for smart phones and similar devices to establish radio communication with each other by touching them together or bringing them into close proximity, usually not more than a few centimeters. Present and anticipated applications include contactless transactions, data exchange, and simplified setup of more complex communications such as Wi-Fi Communication is also possible between an NFC device and an unpowered NFC chip, called as "tag".

NFC and Bluetooth are both short-range communication technologies which are integrated into mobile phones. As described in technical detail below, NFC operates at slower speeds than Bluetooth, but consumes far less power and doesn’t require pairing.

NFC traces its roots back to Radio-frequency identification, or RFID. RFID allows a reader to send radio waves to a passive electronic tag for identification and tracking. NFC technolog
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