NFC Payments Forecast Scaled Down
HAMPSHIRE, U.K. -- Juniper Research has today published its revised forecasts for the global NFC market, significantly scaling back its growth estimates for the North American and Western European markets.
While the report finds that by 2017 the proportion of NFC-enabled smartphones will be only marginally below previous estimates, global NFC retail transaction values are now expected to reach $110bn in 2017, significantly below the $180bn previously forecast.
According to the report, Apple’s decision to omit an NFC chipset from the iPhone 5 has reduced retailer and brand confidence in the technology, leading to reduced POS (Point of Sale) rollouts and less NFC campaigns. This in turn will lead to lower NFC visibility amongst consumers and fewer opportunities to make payments, threatening a cycle of “NFC indifference” in the short term.
Juniper Research Ltd.