Research and Markets: The Global NFC Payments Market Will Grow At A CAGR Of 68 Percent over the Period of 2010-2014
DUBLIN, (PaymentsMarket): Research and Markets has announced the addition of the "http://www.researchandmarkets.com/research/a3ff07/global_nfc_payment)">Global NFC Payments Market 2010-2014" report to their offering.
Mobile Commerce Key Driver for NFC Payments
Research conducted by Technavio reveals, that the Near Field Communication (NFC) Payments market is expected to grow at a CAGR of 68 percent. The report, which focuses on Americas, Europe and China indicates, that the market is currently driven by the exponential growth in mobile commerce.
With an increasing number of users opting for NFC enabled mobile phones for buying goods and services, there are immense revenue opportunities in the area of mobile commerce. Revenue opportunities can be seen in the form of loyalty points, gifts and other value added services, reports Technavio analyst.
In spite of the need, security concerns hinder the growth of this market. However, the strong support from the GSMA is expected to promote market growth.
The global NFC Payments market is marked by smartphones being embedded with NFC chipsets. This makes the study an important one for companies to fully understand the potential in the market and formulate its own strategy.
The report, Global NFC Payments Market 2010-2014 is based on an extensive research from inputs by industry experts, vendors and end-users. It examines the factors- including the key trends, drivers and challenges, impacting the evolution of this market. Further, it contains an in-depth understanding of the key vendors including their SWOT analysis.
TechNavio's analysts forecast that the global NFC Payments market will grow at a CAGR of 68 percent over the period of 2010-2014. One of the key factors contributing to this market growth is the growing number of commercially available NFC enabled handsets. The worldwide NFC Payments market has also been witnessing increasing number of pilot trials in the area of NFC enabled Payments. However, the need for additional infrastructure by various stakeholders in the NFC Payments ecosystem could pose a challenge to the growth of this market.
TechNavio's Global NFC Payments Market 2010-2014 has been prepared based on an in-depth analysis of the market with inputs from industry experts. The report focuses on the Americas, Europe, and China; it covers the payment processing firms in the area of NFC Payments.
Key questions answered in this report: What will the market size be in 2014 and at what rate will it grow? What key trends is this market subject to? What is driving this market? What are the challenges to market growth? Who are the key vendors in this market space? What are the opportunities and threats faced by each of these key vendors? What are the strengths and weaknesses of each of these key vendors?
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