NFC Chips Market Is Predicted To Reach US$ 7.6 Billion By 2033

The global market for NFC chips reached a value of US$ 1.9 billion in 2023 and is anticipated to expand at a compound annual growth rate (CAGR) of 15%, reaching US$ 7.6 billion by the conclusion of 2033.

Near Field Communication (NFC) denotes a short-range wireless technology facilitating communication between devices when brought into proximity, typically within a few centimeters. NFC technology, operating at a frequency of 13.56 MHz, is rooted in Radio Frequency Identification (RFID) technology.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:
https://www.factmr.com/connectus/sample?flag=S&rep_id=8536

An NFC chip, a compact integrated circuit, enables wireless communication among devices supporting NFC technology. These chips find integration in various devices such as smartphones, tablets, smartwatches, and credit cards.

𝐆𝐫𝐨𝐰𝐭𝐡 𝐓𝐫𝐞𝐧𝐝𝐬:

Increasing Adoption of Contactless Payment Solutions: With the rising demand for convenient and secure payment methods, there has been a significant uptake of contactless payment systems enabled by NFC technology. Consumers prefer the simplicity and speed of tapping their smartphones or cards to make payments, spurring the demand for NFC-enabled devices and driving growth in the NFC chip market.

Proliferation of NFC-enabled Devices: The integration of NFC chips into a wide range of devices, including smartphones, tablets, wearables, and IoT devices, is expanding the market's reach. As manufacturers incorporate NFC technology into their products to enable features like mobile payments, smart access control, and device pairing, the demand for NFC chips continues to grow.

Expansion of IoT Ecosystem: The Internet of Things (IoT) ecosystem is witnessing rapid growth, with increasing connectivity between devices for various applications such as smart homes, healthcare monitoring, and industrial automation. NFC technology plays a crucial role in enabling seamless communication and interaction between IoT devices, driving demand for NFC chips in this expanding market segment.

Growth in Smart Packaging and Retail Applications: NFC technology is being increasingly utilized in smart packaging and retail applications for product authentication, inventory management, and customer engagement. NFC-enabled labels and tags allow consumers to access product information, promotions, and interactive experiences by simply tapping their smartphones, driving the adoption of NFC chips in the retail sector.

Emerging Applications in Healthcare and Transportation: NFC technology is finding new applications in sectors such as healthcare and transportation, where secure and contactless communication is essential. NFC-enabled devices are being used for patient monitoring, medication tracking, and contactless ticketing, driving the demand for NFC chips in these industries.

𝐊𝐞𝐲 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐏𝐫𝐨𝐟𝐢𝐥𝐞𝐝

• Broadcom Inc.
• HID Global
• Intel Corporation
• Infineon Technologies AG
• Marvell Technology, Inc.
• MediaTek Inc.
• Nordic Semiconductor
• NXP Semiconductors N.V.
• Qualcomm Technologies, Inc.
• Renesas Electronics Corporation
• Samsung Electronics Co., Ltd.
• Sony Corporation
• STMicroelectronics N.V.
• Texas Instruments Incorporated

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

According to Fact.MR, a market research and competitive intelligence provider, several key players in the NFC chip market are constantly developing and launching new products to meet the growing demand for NFC technology. These new products often feature advanced security, better performance, and lower power consumption.

• NTAG 22x DNA, a new generation of NFC tags with tamper-detection and condition-monitoring functions on a single chip, was introduced by NXP Semiconductors in May 2022.

𝐊𝐞𝐲 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐬 𝐂𝐨𝐯𝐞𝐫𝐞𝐝 𝐢𝐧 𝐍𝐅𝐂 𝐂𝐡𝐢𝐩 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡

• By Product Type :
o Auxiliary
o Non-auxiliary

• By Storage Capacity :
o Up to 64 Bytes
o 65 to 168 Bytes
o 169 to 180 Bytes
o 181 to 540 Bytes
o Above 540 Bytes

• By Application :
o Smartphones
o Laptops & Notebooks
o Smart Cards
o Televisions
o Point-of-Sale Systems
o Medical Devices
o Vehicles
o Smart Wearables

• By End-use Industry :
o Automotive & Transportation
o Consumer Electronics
o Retail
o BFSI
o Healthcare
o Building & Infrastructure
o Media & Entertainment

• By Region :
o North America
o Latin America
o Europe
o East Asia
o South Asia & Oceania
o MEA

𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞: https://www.factmr.com/report/nfc-chip-market

𝐌𝐨𝐫𝐞 𝐑𝐞𝐥𝐚𝐭𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭:

Wearable AI Market: https://www.factmr.com/report/wearable-ai-market

Multi-mode Chipset Market: https://www.factmr.com/report/multi-mode-chipset-market

Powered Smart Card Market: https://www.factmr.com/report/powered-smart-card-market

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