NFC will facilitate transactions valued at $74bn by 2015 as NFC is being increasingly used for the payment of goods in-store and as transport tickets.
This is over threefold of the estimated value of this market in 2011, according to a study by Juniper Research.
The research firm says the increasing use of mobile devices is driving the mobile commerce market.
The study shows that the rapid adoption of mobile devices for commerce-related applications is not just limited to NFC, but will witness significant growth rates in segments such as money transfers, banking, payments and coupons.
Juniper research report author David Snow says their report demonstrates the spectacular growth Juniper sees across all segments of the mobile commerce market.
"Four of these segments (money transfer, physical goods, NFC and coupons) will more than treble in transaction value over the next three years, whilst digital goods, banking and tickets will still on average, double over the same period," adds Snow.
The Juniper report cautions that mobile commerce providers need to keep security issues in mind.
The study further reveals that SMS is the key to widespread mobile banking service adoption; without interoperability mobile money transfer services will struggle to gain a critical mass of users; and whilst mobile coupons still represent the smallest mobile commerce segment, it is demonstrating the highest growth rate.
