The boom of the global NFC chip market 2020 is noticeable by Market Research Future which has come into the reading, mainly amid COVID 19 crisis. This foretells that the global NFC chip market and its overall valuation would get bigger post the pandemic that is calculated to be USD 11.76 billion by the year 2023. The growth would occur at a pace of 18.86% CAGR owing to the development of the new dynamism, which is making active development in the market’s growth, mainly from the years 2018-2023.
Notable Developments
The core advantage of NFC chips directs towards the fact that they do not require manual pairing with other NFC-enabled devices. In fact, the NFC chip automatically connects to the other chip when the other device comes nearby of less than 10 cm in a fraction of time. The rising penetration of smartphones in the market with NFC-enabled technology, consumer electronics adopting NFC technology, rise in the number of NFC-based digital transactions taking place and governments across the world pushing the public to make cashless transactions are some of the essential factors driving the NFC chips market, globally.
MRFR also identifies that significant start-ups are mushrooming in the field of NFC as NFC chips being integrated with medical equipment and the vast expenditure made on the R&D for NFCs create opportunities for the growth of this market. With this, the swelling demand for the NFC-based payment solutions has encouraged the manufacturers to widen an improved version of the digital payment platform, and thus developing the market’s worth. The growing incursion of wearable technology devices as a noteworthy component of the Internet of Things with lowered costs have enormously contributed to the industry growth.
Top Industry Players
The top players in the NFC chip market are identified as MStar Semiconductor, Inc. (Taiwan), Verifone Systems, Inc. (US), STMicroelectronics (Switzerland), SAMSUNG (South Korea), Broadcom Corporation (US), Ingenico Group (France), NXP Semiconductors (Netherlands), and Marvell Technology Group Ltd (Bermuda).
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Leading Segments
In terms of storage capacity, the market has included 64 Bytes, 168 Bytes, 180 Bytes, and 540 Bytes. Among these, the 64 bytes segment might contribute a significant share to the NFC chip market while 180 bytes is likely to expand at a high growth rate.
In terms of vertical segment, the NFC chip market has included media & entertainment, BFSI, hospitality, retail, healthcare, and others. The BFSI sector could lead in future in the NFC chip market during the forecast period in support of substantial contactless payment in the retail sector. The healthcare sector is also in the line of progression at a high CAGR during the forecast period.
Regional Front
The global market for NFC chip is estimated to grow at a significant rate during the forecast period from 2018 to 2023 among the regions of Europe, North America, Asia-Pacific, and the rest of the world, which includes the Middle East, Africa, and South America.
Among the regions mentioned, North America might grasp a significant share of the NFC chip market during the assessment period, followed by Europe. High adoption of digital payments coupled with escalating ownership of Smartphones and internet reach is the key factor driving the NFC chip market in North America.
Major Highlights of TOC Covers:
- Executive Summary
- Key Business Trends
- Regional Trends and Growth
- Product Trends
- End-use Trends
- Definition and Forecast Parameters
- NFC chip Market Segmentation
- NFC chip Market Landscape
- Vendor Matrix
- Company Profiles
- Business Overview
- Financial Data
- Product Landscape
- Strategic Outlook
- SWOT Analysis
- Regional NFC chip Market Share
- Country NFC chip Market Share
- Revenue and Sales Forecast
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Furthermore, its advantages including cost and time reduction is further adding to the growth of the NFC chip market.
Moreover, government initiatives towards a transparent cashless economy have helped the NFC chip market to grow at a higher pace globally.Key Players:The key players in the NFC chip market are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise.
Some of them are Intel Corporation (US), Verifone Systems, Inc. (US), MStar Semiconductor, Inc. (Taiwan), Broadcom Corporation (US), STMicroelectronics (Switzerland), Qualcomm, Inc. (US), NXP Semiconductors (Netherlands), Ingenico Group (France), SAMSUNG (South Korea), and Marvell Technology Group Ltd (Bermuda).
These include Murata Manufacturing Co. (Japan), Media Tek, Inc. (Taiwan), Giesecke & Devrient GmbH (Germany), Renesas Electronics Corporation (Japan) and Texas Instruments (US), and others.Request a Free Sample @ https://www.marketresearchfuture.com/sample_request/7723Regional Analysis:The NFC chip market is estimated to grow at a significant rate during the forecast period from 2020 to 2027.
The geographical analysis of NFC chip market has been done for North America, Europe, Asia-Pacific, and the rest of the world (including the Middle East, Africa, and South America).
Adoption of advanced technologies, digitization and high adoption rate of digital payments coupled with high ownership of smartphones and internet penetration are some of the major factors driving the NFC chip market in North America.A large number of government initiatives implemented in many countries such as India and Japan for promoting cashless transactions is leading to the demand for NFC chips in the Asia-Pacific region.
NFC Chip Industry 2021-2027New Study Reports " NFC Chip Industry 2021, Global Key Players Analysis, Share, Trends, Future Opportunities Forecasts 2027" has been Added on MarketResearchFuture.Report OverviewThis published report for the NFC Chip Industry analyzes and forecasts the marketing statistics of the product/service market on a global as well as the regional level.
In addition to this, the report also studies the opportunities that are available in the report at the global level.
Besides, the high deployment cost of product/service, and other restraints are also pointed out in the report.
Some of them are Intel Corporation (US), Verifone Systems, Inc. (US), MStar Semiconductor, Inc. (Taiwan), Broadcom Corporation (US), STMicroelectronics (Switzerland), Qualcomm, Inc. (US), NXP Semiconductors (Netherlands), Ingenico Group (France), SAMSUNG (South Korea), and Marvell Technology Group Ltd (Bermuda).
These include Murata Manufacturing Co. (Japan), Media Tek, Inc. (Taiwan), Giesecke & Devrient GmbH (Germany), Renesas Electronics Corporation (Japan) and Texas Instruments (US), and others.and more.This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the NFC Chip.Complete Report Details@ https://www.marketresearchfuture.com/reports/nfc-chip-market-7723Regional Analysis:The NFC Chip Industry is estimated to grow at a significant rate during the forecast period from 2018 to 2023.
Adoption of advanced technologies, digitization and high adoption rate of digital payments coupled with high ownership of smartphones and internet penetration are some of the major factors driving the NFC Chip Industry in North America.A large number of government initiatives implemented in many countries such as India and Japan for promoting cashless transactions is leading to the demand for NFC chips in the Asia-Pacific region.
The boom of the global NFC chip market 2020 is noticeable by Market Research Future which has come into the reading, mainly amid COVID 19 crisis.
The growth would occur at a pace of 18.86% CAGR owing to the development of the new dynamism, which is making active development in the market’s growth, mainly from the years 2018-2023.Notable DevelopmentsThe core advantage of NFC chips directs towards the fact that they do not require manual pairing with other NFC-enabled devices.
In fact, the NFC chip automatically connects to the other chip when the other device comes nearby of less than 10 cm in a fraction of time.
The rising penetration of smartphones in the market with NFC-enabled technology, consumer electronics adopting NFC technology, rise in the number of NFC-based digital transactions taking place and governments across the world pushing the public to make cashless transactions are some of the essential factors driving the NFC chips market, globally.MRFR also identifies that significant start-ups are mushrooming in the field of NFC as NFC chips being integrated with medical equipment and the vast expenditure made on the R for NFCs create opportunities for the growth of this market.
With this, the swelling demand for the NFC-based payment solutions has encouraged the manufacturers to widen an improved version of the digital payment platform, and thus developing the market’s worth.
The rising add-on of vendors is anticipated to surge the concentration and propel the development of near field communication infrastructure, thus accelerating the market growth during the assessment period.Top Industry PlayersThe top players in the NFC chip market are identified as MStar Semiconductor, Inc. (Taiwan), Verifone Systems, Inc. (US), STMicroelectronics (Switzerland), SAMSUNG (South Korea), Broadcom Corporation (US), Ingenico Group (France), NXP Semiconductors (Netherlands), and Marvell Technology Group Ltd (Bermuda).
