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A Brief Look at Near Field Communication

NFC and RFID are bringing about a technological revolution. Are we ready for it?
By Swamini Kulkarni
Tags: NFC
Jan 19, 2020

Near Field Communication (NFC) is a revolutionary concept that has brought several promising opportunities. NFC is an array of protocols based on a wireless interface that enables devices to communicate in order to establish radio communication within proximity of each other. The technology has gained popularity since it offers the easiest way to connect smartphones, laptops and tablets for short-range data exchange. Moreover, major companies such as Google, PayPal and MasterCard have invested a huge pile of money into the realm of the NFC market.

According to research firm Allied Market Research, the global NFC market is projected to garner $24 billion by 2020, registering a CAGR of 40.4 percent from 2015 to 2020. Increasing inclination toward the convenient transfer and security of data, a rise in smartphone penetration and the prevalence of contactless payments have boosted the market growth. These days, NFC has become mainstream—it's the reason why a number of smart devices are seamlessly connected and able to work in the background.

What Is NFC?
NFC allows smart devices such as phones, tablets and laptops to share data with other NFC-equipped devices. It is the next advancement in radio frequency identification (RFID) technology. The security scan cards that employees use have RFID technology. NFC finds similarity with RFID, but it is limited to within about 4 inches.

Many believe the small radius of NFC is one of its drawbacks, but on the contrary, it is one of the major reasons why NFC has offered the most secure alternative to credit cards. Apart from the transaction of money, NFC can be used to transfer videos, contact information and more between two NFC-enabled devices. Moreover, NFC is one step ahead of Bluetooth; it does not require manual pairing every time data is transferred. Once two NFC-enabled devices are within each other's radius, they can automatically communicate with each other and send prompts to users.

Major Trends in NFC
NFC incorporates inductive-coupling technology, by which data and power are shared through coupled inductive circuits within a limited proximity. It is often employed through credit cards or mobile phones so that the information can be read when shared from closely located NFC devices or tags. The most appreciated application of NFC is a contactless payment system. People can make payments by just swiping at an NFC reader. The NFC device transfers the information regarding the user's credit card and, since the transactions occur within a short range, it is considered secure. With the increasing popularity of NFC in mind, here are some of the major trends in the Near Field Communication market.

USER COMMENTS

Colin Carter 2020-01-24 05:32:21 AM
Thanks Swamini. Here in the UK we're bringing the Internet of Real Things to the general public using NFC, with the additional aim of helping Social Enterprise organisations bring employment. See this earlier post please https://www.linkedin.com/posts/colin-carter-7ba0793a_anotherdayinparadise-why-tenderloin-activity-6621038246585610241-VPvV www.nfcgateway.co.uk

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