- Other Apps
Steadily, one can observe that, many mobile phone operators are looking for ways to further develop this technology.
There is and increasing awareness about NFC technology among merchants. In effect, NFC systems help merchants obtain operating cost benefits, such as reduced cash processing, and more effective consumer engagement.
The emergence of host card emulation (HCE) is one of the latest trends in the market. HCE wearable devices and smartphones perform card emulation on NFC-enabled devices without depending on a secure element.
Built-in security features, such as an iris scanner and fingerprint reader, are additional safety features for HCE.
According to Research and Markets, if NFC system vendors reshape the value chain and the business model and introduce the use of HCE, the market will likely grow.
The firm also revealed that, the global NFC systems market will grow at a CAGR of 13.43% during the period 2017-2021.
Its recent report states that one of the major factors hindering the growth of this market is growing demand for upgraded NFC POS terminals.
Among Key vendors, we have: Broadcom, INSIDE SECURE, MediaTek, NXP Semiconductors, Renesas Electronics, and Sony.