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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?
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.
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
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