Global NFC Chips Market – Industry Analysis and Forecast (2019-2026)

The Global NFC Chips market was valued at US$ 2.802 Bn in 2019 and is expected to reach US$ 20.12 Bn by 2026, at a CAGR of 24.49% during a forecast period.

The report includes the analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.

NFC Chips are anticipated to witness tremendous growth during the forecasting period and accounted for versatility and convenience. These chips also provide enhancement towards safety. The growing need for secure dealing can be felt worldwide and thus boosting the growth of the NFC chips market.

Based on application, the smartphone sector is expected to grow during the forecast period due to its ability to provide safe transfer of data wirelessly, fast connectivity to mobile peripherals such as wireless speakers, smart TVs, safe mobile payments, and others. Further, research and development and technological advancements in near-field communication chips have been newly added factors. Smartphones have also provided an impetus to the growth of NFC chips in smartphones.

Growing popularity in end-user industries such as medical, retail, automotive, and aviation among others coupled with healthy economic growth of emerging economies are offering potential growth opportunities to the global NFC chip market. NFC chips have been extensively used in the healthcare sector such as NFC for heart monitoring devices, NFC-based diabetes monitoring systems, medical implants, and medical data storage devices among others. The gained popularity across several end-user applications is set to boost the market growth in the forecasting years.

There is a need for a reliable and efficient mode of information sharing and this is driving the adoption of NFC chips. The essential faster access to data across industries is also a key factor behind the growing popularity of near-field communication technology. The growing investments and advancements by players within the market are expected to help the market to grow within the forecast period. The increasing adoption of online payments is another key factor boosting the growth of this market.

With the increasing adoption of NFC Chips, challenges have been introduced in the market. Rising data privacy and security concerns, complexity related to the product designing, easy availability of substitutes, lack of interoperability, such as Bluetooth, Wi-Fi, ZigBee, lack of public awareness regarding the use of NFC, and higher cost of NFC chips are some major issues which further profoundly pull back the NFC Chips market.

Geographically, The North American market is expected to be a leading contributor to the global NFC Chips market and accounted for 34% of the market in 2015. The key factor behind the growth of the market in North America is the partnership between enterprises and banks, which also helps in tokenizing the cards that use NFC chips. However, it is the Asia-Pacific that will emerge as the leading market for NFC chips in the near future. The Asia Pacific NFC chips market is expected to expand at 27.90% CAGR approx between the forecasting periods and accounted for the growing penetration or use of smartphones in the region.

The key market players operating in the Global NFC Chips Market are MS AG, STMicroelectronics, Qualcomm Inc., Texas Instrument, Broadcom Corp., Identium, Stl, ACR, Attendance, Mantra, NXP Semiconductor, AMS AG, Sony Corporation, Oberthur Technologies, Mastercard, Nokia Corporation, Identive Group Inc., Gemalto NV, Renesas, American Express Company, and AT & T Inc.

The Scope of the Global NFC Chips Market:

Global NFC Chips Market, by Storage Capacity:

• 64 Bytes

• 168 Bytes

• 180 Bytes

• 540 Bytes

• Others

Global NFC Chips Market, by Application

• Smartphone

• Medical equipment

• Television

• Car

• Others

Global NFC Chips Market, by End User:

• Consumer Electronics

• Automotive

• Medical

• Retail

• Aviation

• Others

Global NFC Chips Market, by Region:

• North America

• Europe

• Middle East & Africa

• Asia-Pacific

• Latin America

Key Players Operating In Global NFC Chips Market:

• MS AG

• STMicroelectronics

• Qualcomm Inc.

• Texas Instrument

• NXP Semiconductor

• Broadcom Corp.

• Identium

• Stl

• ACR

• Attendance

• Mantra

• AMS AG

• Sony Corporation

• Oberthur Technologies

• Mastercard

• Nokia Corporation

• Identive Group Inc.

• Gemalto NV

• Renesas

• American Express Company

• AT & T Inc.

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This Report Is Submitted By : Maximize Market Research Company

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