Juniper Research’s last report on mobile NFC has predicted lower numbers for NFC growth than expected previously. 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. Who is to blame? Apple.
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According to Juniper the absence of NFC from the company’s iPhone 5 will hamper the adoption of the technology. “While many vendors have introduced NFC-enabled smartphones, Apple’s decision is a significant blow for the technology, particularly given its previous successes in educating the wider public about new mobile services” said report author Dr Windsor Holden. “Without their support, it will be even more difficult to persuade consumers – and retailers – to embrace what amounts to a wholly new means of payment.”
They believe the absence of NFC in Apple products will lead to a cycle of “NFC indifference” in the short term, due to the brand’s popularity and role in setting trends. The report found that Apple’s move would impact most dramatically on markets in North America and Western Europe, where transaction values would exhibit a “two year lag” on previous forecasts as retailers delay POS investments.
Download the report here.
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