Set to treble over next four years
The market for NFC-enabled mobile transactions is set to treble over the next four years as consumers increasingly use their mobile devices to pay for goods in store, according to a new study by Juniper Research. The report forecasts that NFC will power USD74bn worth of transactions globally by 2015, making it one of the fastest growing segments of the mobile commerce market. However, Juniper claims that NFC is just one mobile commerce-related apps that will experience rapid adoption over the next few years, with segments such as coupons and online banking also seeing “significant” growth. But the research firm warns that security will still be an ongoing barrier to uptake among wary consumers.
“Our report demonstrates the spectacular growth we see across all segments of the mobile commerce market,” says Juniper analyst David Snow. “Four of these segments: money transfer, physical goods, NFC and coupons; will more than treble in transaction value over the next three years.”
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