Report shows the rampant growth of the NFC mobile applications market

A new report from Markets and Markets, a market research firm, paints a promising picture for the future of NFC technology. NFC has been around for several years but has only recently become a technology of consequence. It has provided advertisers with a new way to engage consumers who are growing increasingly reliant on mobile technology. NFC has also helped birth the new industry of mobile commerce. As such, the market for NFC applications, such as mobile wallets, has become more valuable. In 2011, the market saw revenue growth of $7 billion. Markets and Markets new report predicts that the market will grow by $34 billion through 2016.

The report, titled Near Field Communication (NFC) Market – Global Forecast & Analysis, details a number of factors that are contributing to the growth of the NFC applications market. It makes special mention of mobile commerce, an industry that relies almost entirely on the technology. Mobile commerce is gaining traction around the world and has become quite popular with consumers. NFC technology is also making an impact in field such as data sharing, event ticketing and access control.

Businesses may find the report useful as it details the techniques that are most successful when using NFC technology. It also offers in-depth analysis of the various industries that are using the technology and which have the most presence in their respective markets.