NFC Chip Market (COVID-19 Analysis) with Industry Share, Growth, Trends Analysis by 2028

According to our latest market study on "NFC Chip Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Type, Storage Capacity, End-User," the market was valued at US$ 8,714.4 million in 2021 and is projected to reach US$ 17,827.0 million by 2028; it is expected to grow at a CAGR of 10.8% from 2021 to 2028.

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NFC (near-field communication) is a technology that is commonly employed in various communication apps. Patient identification, blood transfusion, drug administration, medical personnel tracking, and medical record access have all been demonstrated in the realm of health care. The wave of NFC technology has been merged with the internet of things technologies in health care. NFC technology aids in improving workflow by combining mobile EMR systems by employing bedside technology. Public and private spaces exist in many healthcare facilities, including hospitals, treatment centers, clinics, and pharmacies. It is critical to keep these spaces separate, with only authorized staff having access to medical cabinets or operating rooms. NFC tags help in tracking and logging every entrance and exit, and employee badges, smartphones, and other devices can be equipped with NFC for access privileges. NFC allows hospitals to track every movement carried out in hospitals. The mentioned aspects are driving the growth of the NFC chip market.
Data is gathered and stored in access-controlled databases that may be viewed in various forms to help improve logistics, simplify record-keeping, and avoid errors. Patients' traditional bracelets can be replaced with NFC tags and NFC-enabled wristbands, updated with real-time information such as when a drug was last administered or which treatment needs to be performed. When NFC tags are placed to a medication's package or labeling, users can verify the medication's legitimacy, check dosage details, and learn about side effects and drug interactions by simply pressing the tag with their smartphone or tablet. The tag also provides access to web links, extra information, a refill request, or a medical professional's contact information. As the industry implements the technology, NFC significantly enhances care by decreasing costs, boosting efficiency, and improving outcomes in healthcare institutions and at home.

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Further, NFC technology was originally incorporated into smartphones in 2011 and is now widely integrated into most phones, regardless of whether they run on iOS or Android. An NFC controller chip is attached to an NFC antenna in an NFC-enabled smartphone. The controller chip is a customized Central Processor Unit that accepts and executes instructions from the application processor software to finish NFC tag detection and/or reading NFC tag content. Unlike Bluetooth, NFC transfers data without the need for manual pairing or device discovery. When another NFC device enters the previously selected 4-inch range, an NFC connection is automatically established. When the two devices are in range, they quickly communicate and provide prompts to the user. NFC can perform a wide range of tap-and-go functions, and digital wallets like Apple Pay, Google Pay, and Samsung Pay only scratch the surface. Music fans may use NFC to easily connect their mobile to speakers, as well as check in to their work computer, unlock their car door, and track their health and fitness information. With trend digital wallets and cashless transactions, the penetration of NFC technology is rising, which is boosting the growth of NFC chip market.

The List of Companies - NFC Chips Market
• 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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