The mobile device hardware security market will be worth US$1.9bn by 2017, up from US$430m in 2012, according to a new report by ABI Research.
The Mobile Device Security study looks at the market for hardware-based security solutions used in mobile devices, such as biometric scanners, secure elements and embedded security including processor-based trusted execution environments.
"Presently, revenues generated from NFC secure elements are a small segment of the mobile device security market", says ABI, which calculates that 7% of smartphones shipped in 2011 had NFC capabilities. "Nevertheless, an increase in point of sale transactions, such as purchasing coffee, transportation vouchers, or even cinema tickets, will increase the number of NFC smartphones... Within the next two years, NFC security will account for half of mobile device hardware security revenues."
• Find details of all current and upcoming NFC phones in our comprehensive NFC devices list.