In just two and a half years, near-field communication technology should drive $50 billion in transactions worldwide, according to a new report from Juniper Research.
The firm projects the second half of this year and 2012 to be “banner years for NFC service rollouts,” noting that the previous six months have markedly improved prospects for NFC.
“Based on our analysis and interviews with key industry players our view is that the next 18 months will see launches in up to 20 countries. As a result Juniper is forecasting that North America and Western Europe together will exceed the Far East region in under three years based on transaction value,” senior analyst David Snow wrote.
The firm expects North America and Western Europe will account for half of all NFC payments by 2014. It also warned that a poor user experience could present a risk in terms of implementation and, by extension, willingness among consumers and businesses to adopt the technology.
Report pegs NFC as a $50B market by 2014
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