SIM Server

Research and Markets has revealed in its newest addition to its report, “Global NFC SIM Market 2011-2015,” that there will be tremendous growth at a compound annual growth rate (CAGR) or year-over-year growth rate of 94.7 percent from 2011-2015.

One major influencing factor of this is the increasing adoption of near field communication (NFC) technology in Japan. NFC serves as a set of standards for smartphones and similar hand-held devices to share information with each other simply by touching them together or bringing them into close proximity – very similar to all of those commercials you see for phones such as the Galaxy S 3. Needless to say, NFC touch-to-touch technology has been booming lately, and people are noticing.

Mobile operators around the globe are more than ready to hop aboard the NFC SIM train, with more than 45 mobile operators already backing NFC technology for this GSM Association’s standard, the site adds.

Another trend that is witnessing high growth in the global NFC SIM market is contactless payments; however, as this recent related article also points out, “the lack of NFC infrastructure could pose a challenge to the growth of this market.”

''One of the key advantages of near field communication (NFC) technology is that it can be used to perform various day-to-day transactions. Mobile devices can serve as a form of ID as well as an electronic wallet,” explains one analyst from TechNavio’s Telecom team.

“NFC applications such as mobile payment and mobile wallet have rapidly attracted consumers and large companies across the world. Companies such as American Express (News - Alert) Co., VISA, and Google Inc. have adopted mobile payments. This gives companies a chance to know their customer preferences and a medium to interact with them. They can track consumer interest and provide incentives based on purchasing behavior.''

Key questions answered in the report include the following:

What will the market size be in 2015 and at what will be the growth rate?
What are key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by key vendors?
What are the strengths and weaknesses of each of these key vendors?

Want to learn more about the latest in communications and technology? Then be sure to attend ITEXPO Miami 2013, Jan 29- Feb. 1 in Miami, Florida.  Stay in touch with everything happening at ITEXPO (News - Alert). Follow us on Twitter.