According to the report, Technological advancements as the major mobile payment trends have enabled significant growth of the NFC Payments
is one of the primary growth factors for the market. Increased customer satisfaction and improved loyalty programs
is also expected to contribute significantly to the NFC Payments market. Overall, applications of NFC Payments, and the growing awareness of them, is what makes this segment of the industry important to its overall growth. The Component , such as Service, is boosting the NFC Payments market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.The Industry Verticals, such as Retail, is boosting the NFC Payments market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.The Technology , such as Radiofrequency identifications, is boosting the NFC Payments market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.The Payment mode, such as Smartphone, is boosting the NFC Payments market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.
AMAs Analyst on the Global NFC Payments market identified that the demand is rising in many different parts of the world as "Rising demand for wearable payment devices, and growing internet penetration, an expanding mobile subscriber base, and the rising number of IoT devices, an increasing number of developed and emerging economies across the world are witnessing a significant surge in digitization,". Furthermore, some recent industry insights like "In August 2020 Paytm introduced its new PoS device for contactless payments, it is India’s first pocket Android point-of-sale (PoS) device for contactless ordering and payments." is constantly making the industry dynamic.
The report provides an in-depth analysis and forecast about the industry covering the following key features: o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies o Analyses the Global NFC Payments market according to Type, Application, and regions o Analyzes the top 10 players in terms of market reach, business strategy, and business focus o Provides stakeholders insights and key drivers & trends of the market
Market Size Estimation In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the NFC Payments market and other related sub-markets covered in the study.
o Key & emerging players in the market have been observed through secondary research. o The industrys supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes. o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation The overall market size is calculated using market estimation process, the market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the market size has been validated using both top-down and bottom-up approaches.