Juniper: NFC-Fueled Sales To Hit $30 Billion In Five Years

The use of NFC technology for mobile payments will hit $8 billion globally this year and will exceed $30 billion by 2012, according to Juniper Research. The researchers said the world's first NFC devices will be sold commercially later this year by Nokia "and the market will ramp up (starting) 2011."

Juniper said payments using NFC or Sony's FeliCa RFID technology, already commonplace in Japan, will be in the midst of a substantial growth spurt in North America and Western Europe by 2014. Juniper analyst Howard Wilcox is quoted in RFID Update saying "the clear readout from industry analysis is that NFC is going to be a default feature of phones in the future, much like Bluetooth is now."