Analysts at Juniper Research have speculated that Near Field Communication (NFC) enabled mobile sets are expected to reach to 700 million users by 2013.
As per a recent report from Juniper Networks titled, “Mobile Payment Markets: Contactless NFC 2008-2013”, the mobile payment services market exude tremendous growth potential, especially during the period of 2011 to 2013.
Earlier, O2 had completed a successful trail of pay-by-mobile services that employs RFID technology and had concluded that the technology can be utilised for simplifying the life of users; however, the company asserted that the technology is in its nascent stage and there is still a long way to go for its complete implementation.
The author of the research report, Howard Wilcox said, “NFC is an exciting and versatile technology that has great potential to make many everyday tasks such as buying small value items as well as tickets much easier.”
Apart from making payments, the technology would also find application various other fields, like advertising, he added.
The report predicts Western Europe and US as the leading user of NFC technology with each claiming 25 percent market share by 2013.