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What Is the Potential Market for NFC Tags?

Posted By RFID Journal, 10.10.2017

What is the forecasted global market for Near Field Communication technology?




Last year, Grand View Research, a San Francisco-based market-research firm, put out a report forecasting that the global NFC market would reach $47.43 billion by 2024. The company said, "The industry is poised for an unprecedented growth over the forecast period owing to the increasing penetration of smartphones in the developing economy."

While the market potential is huge, I am skeptical about it reaching nearly $50 billion within the next seven years. The total market size for all RFID products—UHF, HF, LF, active, etc.—in 2017 is expected to be just over $11 billion. If NCD is, say, $5 billion today, it would have to grow tenfold in only seven years.

It's possible, given that virtually all cell phones have NFC readers, and Apple is now opening the NFC reader in its iPhone to other applications besides Apple Pay. But that's a big jump. The other thing to consider is that cell phone readers can emulate tags, so for many applications (movie tickets, for example), you might be able to use your phone as a ticket. That would limit the number of NFC transponders required.

—Mark Roberti, Founder and Editor, RFID Journal


Clinton Gallagher 2017-10-17 04:01:07 PM
Cell phone tag emulation requires an app for each emulated end-point. NFC tags require no app. Consumers already suffer from "appitis" as everybody under the sun tried to get consumers to install their app on the consumer's phone. The push back has become phenomenal. Remember what happened with "wallets?" Apple has allowed read-only with iOS 11 enabled iPhones but they kept iOS crippled for a reason; so as to not risk cannibalizing Apple Pay even further. The future is very bright for NFC tags. NFC is the de facto standard front-end for IP connectivity with apps and services running on remote servers. The only dependency is cellular connectivity which is widely ubiquitous. I've got 30+ years of skin in the game. Whenever I observe crippleware there is something to fear. The fear for the most part is what can be accomplished using NFC tags.

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