Analysts Juniper Research blames Apple for the slow adoption of NTC technology, and has drastically revised its forecasts. By Jason Ankeny.
Juniper Research is scaling back its expectations for the global Near Field Communications retail transactions market by $70bn, contending that Apple’s decision to omit an NFC chipset from its new iPhone 5 has undermined retailer and brand confidence in the mobile payment technology.
According to a Juniper forecast issued in July, NFC-enabled mobile retail payments appeared on track to exceed $180bn by 2017 – a seven-fold increase over 2012.
Juniper has now slashed projected growth to $110bn by 2017, indicating Apple’s reluctance to embrace the technology is leading to reductions in both point-of-sale rollouts and consumer awareness that threaten a cycle of “NFC indifference” during the next several years.
FierceMobileContent: Updated: Juniper slashes NFC retail forecast by $70B, blames Apple for slow adoption; TelecomTV content partner.
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