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Report pegs NFC as a $50B market by 2014

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.

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Matt Kapko
Matt Kapko
Former Feature writer for RCR Wireless NewsCurrently writing for CIOhttp://www.CIO.com/ Matt Kapko specializes in the convergence of social media, mobility, digital marketing and technology. As a senior writer at CIO.com, Matt covers social media and enterprise collaboration. Matt is a former editor and reporter for ClickZ, RCR Wireless News, paidContent and mocoNews, iMedia Connection, Bay City News Service, the Half Moon Bay Review, and several other Web and print publications. Matt lives in a nearly century-old craftsman in Long Beach, Calif. He enjoys traveling and hitting the road with his wife, going to shows, rooting for the 49ers, gardening and reading.