Global shipments of mobile phones equipped with near field communication (NFC) technology will surge fourfold between 2013 and 2018 to 1.2 billion units, according to IHS Technology. Worldwide shipments of NFC-enabled mobile phones reached 275 million units in 2013, up 128 per cent from 120 million in 2012. The market will expand by at least 50 per cent this year to reach 416 million. From 2013 through end 2018, worldwide shipments of NFC-enabled mobile phones will rise by 325 per cent. NFC was integrated into 18.2 per cent of the 1.5 billion mobile phones shipped worldwide in 2013. In 2018, NFC penetration will rise to 64 per cent. However, a major challenge for the NFC market in 2014 will be to develop services and applications that consumers want. This will help to promote mass appeal and adoption of the technology. The slow pace at which the mobile payment ecosystem is being rolled out is another key challenge that will need to be addressed this year. Release