NFC Chips Market - NFC Can Turn Your Phone into a Digital Wallet

Near Field communication (NFC) chips are the communicating system that are best for electronic applications. The NFC chips are also potential of detecting the radio frequency identification technology. The technological advancements have further aided the evolution of shorter range radio identification technologies between two devices. This development also assist the simplifying the safer data transfer. A key trend that has been observed in the recent past years and the rising demand of NFC chips among consumer electronics manufacturer is a key driver that propels this market during the upcoming years.

A surge in demand for smart phones across the globe is driving the demand for NFC chips in global market. Owing to the raising demand of NFC chips among end-users and the increasing initiatives by the government followed by the numerous supporting subsidiaries. Moreover, the increasing adoption of NFC chips in medical field and healthcare sector is also propagating the growth of this market on a large scale. With the deployment of this technology in electronics to increase and boost contactless safe data transfer. Additionally, the swift technological advancements in radio frequency identification and increasing applications of NFC chips in consumer electronics are another factors fueling the growth of the global market.

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Thus, the conjoint effect of all these drivers is set to strengthen the growth of the global NFC chip market in the coming years. However, the complexity in product design of NFC chips coupled with the lack of unawareness about such chips among consumers are the factors that are capable of hindering the growth of this market during the forecast years. Furthermore, the adoption of these technical chips in real estate sector along with the mergers and acquisitions in NFC based industries are the factors that contribute as the opportunities to NFC chips market.

The global NFC chips market can be segmented on the basis of type and region. On the basis of application, the global NFC chips market can be segmented into smart phone, television, medical equipment, car and others. On the basis of storage capacity, the global NFC chips market can be segmented into 64 Bytes, 168 Bytes, 180 Bytes, 540 Bytes and others. On the basis of end-users, the global NFC chips market can be segmented into consumer electronics, automotive, retail, medical, aviation and others. On the basis of region, the global NFC chips market can be segmented into North America, Europe, Middle East & Africa, Asia-Pacific, and Latin America.

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Some of the key players in the global NFC chips market include AMS AG, Broadcom Corporation, Marvell Technology Group Ltd., MediaTek Inc., Mstar Semiconductor Inc., NXP Semiconductors, Qualcomm Inc., Sony Corporation, STMicroelectronics and Texas Instruments Inc.

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