Technology
Technavio's Near Field Communication (NFC) Chips Market Research Report Highlights the Key Findings in the Area of Vendor Landscape, Key Market Segments, Regions, and Latest Trends and Drivers

Technavio's Near Field Communication (NFC) Chips Market Research Report Highlights the Key Findings in the Area of Vendor Landscape, Key Market Segments, Regions, and Latest Trends and Drivers

NEW YORK, Feb. 10, 2022 /PRNewswire/ — The Near Field Communication (NFC) Chips market share is estimated to increase by USD 2.20 billion from 2020 to 2025, and the market’s growth is anticipated to accelerate at a CAGR of 12.53%. Factors such as increasing demand for smartphones is significantly driving the near field communication (NFC) chips market in this region.

Our research report on “Near Field Communication (NFC) Chips Market by Product and Geography – Forecast and Analysis 2021-2025” has extensively covered factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market share during the forecast period.

Near Field Communication (NFC) Chips market report key highlights

  • Estimated year-on-year growth rate: 11.76%
  • Key market segments: Product (smartphones, smart wearables, POS terminals, and others) and geography (APAC, North America, Europe, South America, and MEA).
  • Key Consumer Region & contribution: APAC at 62%

Near Field Communication Chips Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 12.53%

Market growth 2021-2025

$ 2.20 billion

Market structure

Concentrated

YoY growth (%)

11.76

Regional analysis

APAC, North America, Europe, South America, and MEA

Performing market contribution

APAC at 62%

Key consumer countries

China, US, South Korea (Republic of Korea), Japan, and Taiwan

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Broadcom Inc., Infineon Technologies AG, Intel Corp., Marvell Technology Group Ltd., MediaTek Inc., NXP Semiconductors NV, Qualcomm Inc., Renesas Electronics Corp., Samsung Electronics Co. Ltd., Sony Group Corp., STMicroelectronics NV., and Texas Instruments Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Do reach out to our analysts for more customized reports as per needs. Speak to our Analyst now!

Near Field Communication (NFC) Chips Market Share Trend

  • The demand for smart parking solutions

As the number of vehicles on the road grows, so does the demand for smart parking solutions. This high car density on the road causes traffic congestion and makes it difficult to obtain parking spaces, resulting in a loss of productive man-hours. As a result, smart parking solutions are being implemented by both private and public traffic control operators and parking service providers. During the projection period, NFC-enabled identification and payment solutions are likely to play a key role in smart parking. The demand for NFC readers and access control readers will grow as smart parking initiatives become more popular. The adoption of NFC chips will be accelerated as a result of this.

Near Field Communication (NFC) Chips Market Challenge

  • The growth of online banking

Customers have been driven to use choices such as net banking and mobile wallets as online banking has grown in popularity. Net banking is a quick and secure way for customers to send money online. These services are provided by banks with high levels of security. There will be a shift from card swipes to mobile payments as the demand for net banking and mobile wallets develops. With the increased usage of debit and credit cards, financial fraud is on the rise. As a result, during the anticipated period, the use of net banking will skyrocket. The growth of net banking and mobile wallets will have a negative impact on the sales of contactless POS terminals and mPOS terminals. This will adversely affect the demand for NFC chips during the forecast period.

Get free sample for extensive insights on key market Drivers, Trends, and Challenges influencing the near field communication (NFC) chips market.

Key market vendors insights

The near field communication (NFC) chips market share is fragmented, and the vendors are deploying various organic and inorganic strategies to compete in the market.

Some of the key market vendors are:

  • Infineon Technologies AG
  • Intel Corp.
  • Marvell Technology Group Ltd.
  • MediaTek Inc.
  • NXP Semiconductors NV
  • Qualcomm Inc.
  • Renesas Electronics Corp.
  • Samsung Electronics Co. Ltd.
  • STMicroelectronics NV.
  • Texas Instruments Inc.

For more detailed highlights on products offerings and the growth strategies adopted by other vendors, Download free sample report

  • Key Segment Analysis by Product
    • Smartphones
      • During the projection period, the smartphone segment’s share of the near field communication chips market will expand significantly. Smartphone manufacturers are boosting their need for NFC chips. This is due to the fact that cellphones with integrated chips can handle contactless payments and access control. Smartphone manufacturers are including NFC technology as one of the communication protocols in their handsets to give users access to all of the aforementioned apps.
    • Smart Wearables
    • POS terminals
    • Others

Regional Market Analysis

APAC will contribute to 62% of the near field communication (NFC) chips market share growth during the forecast period. China, US, South Korea (Republic of Korea), Japan, and Taiwan are the major markets for near field communication (NFC) chips market share.

The smartphones when integrated with the chips can perform contactless payments and the access control function. This is expected to boost the near field communication (NFC) chips market share in the region.

Request our free sample for additional highlights and key segments that are expected to impact the market during the forecast period.

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