Press release
North America NFC Chip MarketTo Generate Revenue Of US$ 6197.94 Million in 2028 With CAGR of 10.1% | Broadcom Inc., INFINEON TECHNOLOGIES AG, Identiv, Inc
The North America NFC chip market is expected to reach US$ 6197.94 million by 2028 from an estimated value of US$ 3156.81 million in 2021. It is estimated to rise at a CAGR of 10.1% from 2021 to 2028.The market's growth is due to the proliferation of NFC-based smartphones and the rising demand for contactless payment. However, short operational range and security concerns are expected to restrict the market growth during the forecast period.
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Smartphones have become an integral component of the lives of today's consumers. Consumers are using their cell phones to make quicker and faster payments in addition to traditional ways of communication. NFC is a handy means of payment since it combines a consumer's mobile device with their wallet. It allows users to conduct mobile transactions, trade digital material quickly, and link their devices to other devices by touch. As a result, the number of devices equipped with NFC technology is growing. This helps the expansion and popularity of NFC technology in emerging markets.
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Major Key players covered in this report:
• Broadcom Inc.
• INFINEON TECHNOLOGIES AG
• Identiv, Inc
• Toshiba Corporation
• Intel Corporation
• NXP Semiconductors
• Samsung Electronics Co., Ltd.
• Qualcomm Technologies, Inc.
• STMicroelectronics
• Texas Instruments Incorporated
NORTH AMERICA NFC CHIP MARKET SEGMENTATION
North America NFC Chip Market, by Type
• Active
• Passive
North America NFC Chip Market, by Storage Capacity
• 64 Bytes
• 180 Bytes
• 540 Bytes
• Others
North America NFC Chip Market, by End-User
• Consumer Electronics
• Automotive and Transportation
• Retail
• Healthcare
• Others
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NFC also operates in a peer-to-peer mode, apart from mobile payments and the smart distribution of information. It enables two smartphones to exchange contacts, calendar activities, website links, images, and even video clips, similar to Bluetooth and Wi-Fi. Retail owners and business partners can maximize the functionality in the following ways:
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