What Does the Future Hold for the NFC Secure Elements?

Overall the NFC secure elements market is going through a transitional period, reflected in 2016, when overall secure element shipments declined YoY.

Individually, the Single Wire Protocol (SWP) market can be considered one of limited future opportunity, since the closure of the Softcard venture in the U.S., pockets of SWP growth will remain, but will be limited to certain geographic markets, including Japan and South Korea.

Equally the 2016 embedded secure element market proved disappointing with no real movement of note. Today, the embedded Secure Element (eSE) market is very closely tied to developments and/or the success of both Apple and Samsung handsets respectively.

So, what does this mean for the secure elements market?  Where will future growth stem from?  When will the NFC secure elements market move out of this transitional period?