According to a new research report by Berg Insight, global sales of handsets featuring Near Field Communication (NFC) grew 300 percent in 2012 to reach 140 million units. Growing at a compound annual growth rate (CAGR) of 48.2 percent, annual shipments are forecasted to reach 1 billion units by 2017.
Wider adoption of NFC in mobile phones began in 2011 and accelerated in 2012 when the top-ten handset vendors released nearly 100 NFC-enabled models. NFC technology enables numerous applications such as information exchange, device pairing for establishing Bluetooth or WLAN connections, access control, electronic ticketing and secure contactless payments.
However, André Malm, Senior Analyst, Berg Insight anticipates that it will take some time before the stakeholders agree on business models for payment networks and access to secure elements that store the sensitive user information in NFC-enabled handsets. “It is the sum of many possible use cases for NFC rather than…
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