NFC Chip Market is Set to Grow at the Fastest Rate to Reach $8,714.4 Mn by 2028| Top Players:AMS AG, Broadcom Inc., Identiv, Inc and Toshiba Corporation

Premium Market Insights announces the release of the report "NFC Chip Market" Size, Share & Trends Analysis Report By 2028. This report highlights key market dynamics of NFC Chip industry and covers historic data, present market trends, environment, technological innovation, upcoming technologies and the technical progress in the related industry. This NFC Chip report provides current as well as upcoming technical and financial details of the industry to 2028. Depending on client's demand, huge amount of business, product and market related information has been brought together via this industry report that eventually helps businesses create better strategies. All of these features are strictly applied while building this NFC Chip Market report for a client. It gives explanation about various definitions and segmentation or classifications of the industry, applications of the industry and value chain structure.             

The NFC chip market is expected to reach US$ 17,827.0 million by 2028 from US$ 8,714.4 million in 2021; it is estimated to grow at a CAGR of 6.7% from 2021 to 2028.

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The overall market has been segmented into North America, Europe, Asia Pacific (APAC), the Middle East and Africa, and South and Central America. NFC chips enable phones and laptops to share data with other NFC-equipped devices. Contactless payment systems, like credit cards and e-ticket smartcards, use NFC devices to enable mobile payments to replace or complement these systems, also known as NFC/CTLS (contactless) or CTLS NFC devices.

NFC Chip Market Survey Provides crucial information about the NFC Chip industry which has helpful and important facts and figures, expert opinions, and the latest developments across the globe. This business report covering the global market is an important document for every market enthusiast, policymaker, investor, and market player. The report provides CAGR value fluctuations for the market during the forecast period of 2021-2028. This market report provides data on patterns and improvements, target business sectors and materials, limits and advancements. A large-scale NFC Chip market report help client companies in predicting investment in an emerging market, expansion of market share or success of a new product.

Automotive, air transport, public transportation, retail, and medical are crucial end users of NFC technology. To get a competitive edge in the present market scenario, stakeholders in the current NFC chip market are actively pursuing collaboration opportunities with other competitors in the market. The emergence of special interest groups (SIGs) has fueled the development of future-proof new creative solutions based on NFC technology. Further, the growing need for NFC chips for NFC payments is boosting the worldwide NFC chip market in the future The global near-field communication (NFC) tags market is growing due to the rising popularity of smartphones, increasing popularity of wearable technology, and the focus shifts to providing better consumer experiences. However, its limited operational range and security concerns hampered the market's expansion. On the other hand, rising technological improvements in NFC will create further opportunities for the market.

The global NFC chip market is segmented into type, storage capacity, end-user, and geography. On the basis of type, the NFC chip market is segmented into active and passive. Based on storage capacity, the market is segmented into 64 bytes, 168 bytes, 180 bytes, and 540 bytes. Based on end-user, the market is segmented into consumer electronics, automotive, retail, healthcare, and others.

 
NFC Chip Market: Competitive Landscape and Key Developments

Broadcom Inc.
INFINEON TECHNOLOGIES AG
Identiv, Inc
Intel Corporation
NXP Semiconductors
Qualcomm Technologies, Inc.
Samsung Electronics Co., Ltd.
STMicroelectronics
Texas Instruments Incorporated
Toshiba Corporation
…..

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The NFC Chip market has been segmented as follows:

By Type (Active And Passive)

By Storage Capacity (64 Bytes, 180 Bytes, 540 Bytes, And Others)

By End User (Consumer Electronics, Automotive, Healthcare, Retail, Medical, And Others)

In September 2011, the NFC Technology was introduced for the first time into smartphones and is now integrated widely into many mobile phones, such as Android or iOS based. Any NFC-enabled smartphone makes use of an NFC controller chip that is connected to an NFC antenna. The US is one of the biggest markets for smartphones. The penetration of smartphones in the US in 2020 was around 81.6% which increased to 82.2% in 2021. Along with smartphones, consumer electronic products, such as televisions, speakers, refrigerators, cameras, and washing machines, use NFC chips to support contactless data transfer. In 2021, consumer electronics retail sales in the US were around US$ 440 billion. The penetration of smartphones in Mexico in 2020 was around 54.4% which increased to 57.4% in 2021. Canada is one of the best-connected countries with respect to mobile communication. The country had about 33 million mobile subscribers in 2019. NFC chips also find significant use across security checkpoints at various airports. In the US, John F Kennedy International Airport; Orlando International Airport; LaGuardia Airport; and Newark Liberty International Airport are amongst the 10 US airports that are ready for billion-dollar expansions. Thus, increasing penetration of smartphones, growing demand for smart consumer electronics, and rising investment in the aviation sector drive the requirement for respective NFC chips across the North American region.

Report Highlights:                

Detailed overview of parent market
Changing market dynamics in the industry
In-depth market segmentation
Historical, current and projected market size in terms of volume and value
Recent industry trends and developments
Competitive landscape
Strategies of key players and products offered
Potential and niche segments, geographical regions exhibiting promising growth
A neutral perspective on market performance
Must-have information for market players to sustain and enhance their market footprint.

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