Consumers may be dragging down emerging technologies with lofty expectations, according to a new Gartner study. Gartner’s 2011 Hype Cycle Special Report is an annual study that investigates the maturity, business benefit and future direction of near-future technologies. The report also gauges the level of consumer response to these technologies and offers a forecast of their future and longevity based upon its findings. Of note, Gartner’s says that several of the most promising technologies coming into the market may not fare well due to the level of hype surrounding them.
NFC-powered mobile payments are one of the technologies at risk of failing, says Gartner. Mobile commerce has received a nearly endless stream of hype since Google first announced their mobile payment platform earlier in the year. Several other financial and tech companies joined in the effort to expand mobile commerce, but have yet to introduce a viable product to the market.
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As with all new products, NFC payment platforms are susceptible to hype. Spurred by marketing campaigns from several companies, consumers have been forming an opinion on NFC technology that is not entirely accurate. Despite these inaccuracies, companies have not ventured to correct consumers, allowing expectations to reach astronomical levels. When new payment platforms are launched in the coming months, they will not be able to live up to these expectations and the consumer backlash could cripple the mobile commerce industry as a whole.