Global Near Field Communication Market Size & Share, Industry Report

Near Field Communication Market

Market Overview:

In the predictive era 2018 to 2023, the global close field communications industry is expected to record a CAGR of 17.5 percent. North America currently dominates the market because of the growing quantity of mobile / contactless payments and the growing demand for home-based surveillance. NFC is a short-range, low-power communication protocol between two devices. One device, the initiator, uses magnetic induction to create a radio wave field that can be detected and accessed by the target, allowing small amounts of data to be wirelessly transferred over a relatively short distance. NFC is gaining momentum in the medical industry now and has attracted the attention of multiple producers of medical devices for use in their products.

Globally exponential penetration of smartphones:

The NFC refinement leads to the use of smartphones in healthcare environments. NFC is a short-range, wireless link standard that enables devices to interact just within a few centimeters. NFC is an extremely easy and comfortable technology as it is possible to exchange information by simply putting together two NFC-enabled phones. Mobile health surveillance which relates to current mobile communications and cloud supported by NFC was a revolutionary approach to improving the quality of healthcare while reducing healthcare costs to provide feedback. Innovative technology for safe operations and the exchange of digital material by mobile means the development of close-to-field communication-enabled communication technologies. Furthermore, during the forecast era, growth in home care and remote patient surveillance facilities and lower costs of this technology are anticipated to drive this industry.

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Lack of Proper Long-Range Communication:

Near field communication is one of the most increasing health facilities; its use is restricted to device pairing, in particular in mobile image equipment, and is not sufficiently effective for large-scale information transfers. Since the data transfer speed is low, this technology cannot be used for media streaming apps in healthcare, for example, tomographic imaging, digital pathology etc. This technological disadvantage is one of the main constraints for its market growth. Although the technology improves the amount of safety, the short distance is restricted to 10 cm, which is also a significant drawback. Furthermore, the absence of knowledge amongst health workers and the skepticism of industry professionals and politicians could limit the market during the forecast period.

North America’s Near Field Market to Dominate:

In the healthcare industry, near-field communications are segmented according to working mode, application and end user. The market is divided into reader / writer mode, emulation mode for cards and peer-to-peer mode in working mode. It is divided into medical devices, payment, identity and access tools and social networking by implementation. It is divided into medical devices, payment, identity and access tools and social networking by implementation. The market is divided by geography into North America, Europe, Asia-Pacific, the Near East and Africa and South America. Due to demand for NFC-enabled products and increased Mobile / Contactless payments, North America dominated the near-field communication in the healthcare industry.

Key Developments in the Near Field Communications Market:

June 2017: Agreement between Qualcomm and Lifescan Inc. a Johnson & Johnson Diabetes Care Company, to capture the data from the diabetic patient from the Lifescan’s One Touch Verio Flex blood glucose meter and transfer it to the physicians.

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Near Field Communications Market Key Players:

• Qualcomm

• Sony

• Texas Instruments

• Impak Health Nedap

• Gentag Inc.

• Omron Healthcare

• Qolpac

• A&D Company

• NXP Semiconductors

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