Juniper Research is predicting near field communication (NFC) payment transactions will reach nearly $50 billion globally by 2014. In a new report, the U.K.-based analysts said the prospects for the technology have improved greatly over the past six months, and that the near future will see significant activity worldwide. 

"Based on our analysis and interviews with key industry players our view is that the next 18 months will see [NFC program] launches in up to 20 countries," said Juniper Senior Analyst David Snow. "As a result Juniper is forecasting that North America and Western Europe together will exceed the Far East region in under three years based on transaction value."

Among the report's findings, Juniper predicts North America and Western Europe will make up half of the NFC market by monetary value by 2014.

Juniper Research also released a video whitepaper and interview with the report's lead author, Senior Analyst Howard Wilcox, discussing NFC technologies.