Top Players in Near Field Communication Chips Taking Mergers & Acquisitions Route to Expand

The global market for near field communication (NFC) chips is highly consolidated. The leading player NXP Semiconductor accounted for about 55% of the market share in 2015 and going forward too is predicted to retain its leading share. A few other prominent names operating in the market are STMicroelectronics, Broadcom Corp., Texas Instrument, Qualcomm Inc., and AMS AG. These companies have been resorting to mergers, acquisitions, and partnerships to up the ante and expand their footprints.

A report by Transparency Market Research predicts the global market for near field communication (NFC) to clock a phenomenal 26.0% CAGR between 2016 and 2024 to reach a value of US$10.62 bn by 2024-end from US$1.35 bn.

Obtain Report Details @
http://www.transparencymarketresearch.com/nfc-chips-market.html

At the forefront of driving growth in the near field communication (NFC) is the surging demand for consumer electronics that use NFC chips. As NFC chips simplify user interfaces to augment their applicability. This has led to their being used in various electronic goods including smartphones. The latter is contributing the most to the market at present.

Although the future of this market looks bright, the complexity in product designs and the dearth of awareness among consumers are expected to limit the uptake of NFC chips, which may create hindrances for this market in the next few years, states the research report.

Brochure for Latest Trends with Future Forecast
http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=15908

Near field communication (NFC) chips find application in smartphones, medical equipment, televisions, and cars. Among them, the smartphone segment leads with a dominant share on account of their rapidly proliferating market. The medical equipment and television segments are also expected gain market share steadily in the years to come. While the growth in the television segment is expected to be generated primarily by the rising disposable income of consumers, the medical equipment segment is expected to be bolstered by the infrastructural developments in the medical and healthcare industry.

Geographically, North America holds a dominating position in the market. In 2015, it accounted for a share of 34%. The market in the region has been primarily bolstered by collaborations between big banks and enterprises that help in tokenizing cards using NFC chips and the introduction of NFC modes, such as reader modes, card emulation standards, and peer-to-peer modes, by various semiconductor vendors.

In the years ahead, however, Asia Pacific is predicted to gain greater market share than North America by expanding at a 27.90% CAGR between 2016 and 2024. The burgeoning smartphone market in the region will likely stoke stellar growth in the region. Europe is another key market slated to expand at a healthy clip owing to a robust smartphones market in Western Europe. Additionally, the increasing usage of other consumer electronics products, such as refrigerators, television, and cameras, coupled with the surging popularity of wireless technology will also bolster the market.

About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR Syndicated Research report covers a different sector – such as pharmaceuticals, chemical, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, our syndicated reports thrive to provide clients to serve their overall research requirement.

Contact

Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com

This release was published on openPR.