Global Near Field Communication (NFC) Chip Market, By Product Type (Auxiliary, Non-Auxiliary), Storage (64 Bytes, 168 Bytes, 180 Bytes, 540 Bytes), Usage (Authentication, Access Control, Payment, Others), Application (Smartphone, Television, Medical Equipment, Car, Others), End Use (Consumer Electronics, Automotive, Retail, Medical, Aviation, Others) – Industry Trends and Forecast to 2029.
Near Field Communication (NFC) Chip Market Analysis and Size
The near field communication (NFC) chips are widely used in the retail and consumer electronics sectors for contactless payments and to avoid long data management. The growing adoption of smart payment options and smartphones further propels the market growth.
Global near field communication (NFC) chip market was valued at USD 8,390.20 million in 2021 and is expected to reach USD 18248.41 million by 2029, registering a CAGR of 10.20% during the forecast period of 2022-2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Near Field Communication (NFC) Chip Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Product Type (Auxiliary, Non-Auxiliary), Storage (64 Bytes, 168 Bytes, 180 Bytes, 540 Bytes), Usage (Authentication, Access Control, Payment, Others), Application (Smartphone, Television, Medical Equipment, Car, Others), End Use (Consumer Electronics, Automotive, Retail, Medical, Aviation, Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Intel Corporation (U.S.), VeriFone, Inc. (U.S.), Broadcom. (U.S.), Qualcomm Technologies, Inc. (U.S.), STMicroelectronics (Switzerland), NXP Semiconductors. (Netherlands), Ingenico. (France), SAMSUNG (South Korea), Marvell (U.S.), Murata Manufacturing Co., Ltd. (Japan), MediaTek (Taiwan), Giesecke+Devrient GmbH (Germany), Renesas Electronics Corporation. (Japan), Texas Instruments Incorporated. (U.S.), ams-OSRAM AG. (Austria), Blue Bite LLC. (U.S.), HID Global Corporation (U.S.), Advanced Card Systems Ltd. (Hong Kong), Ensurge Micropower (Norway)
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Market Opportunities
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Market Definition
A near field communication (NFC) chip is a silicon component or an integrated circuit that can be used differently depending on the targeted application. It enables wide range short-range and wireless communication between two devices.
Global Near Field Communication (NFC) Chip Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Numerous Applications of Near-Field communication
Numerous applications of near-field communication chips is the main factor driving the market's growth over a wide range of sectors during the forecasted period. The near field communication technology is rapidly used in the public transports, where users can pay using their smartphones. It has a wide range of applications such as contactless payment, car center consoles, ticket machines and others, making it a widely used solution for various end-users such as consumer electronics, automotive, retail and others. All these factors are driving the market's growth over the forecasted period.
- Rising adoptions of smart gadgets
The adoptions of various smart devices fuels the market growth. The development of artificial intelligence in various organizations and the increasing demand for high-speed networks in manufacturing facilities to analyze real-time data, enhance production processes, and provide secure and smooth data transmission. All these factors are driving the market's growth over the forecasted period.
Opportunities
- Growing Penetration in medical applications
The growing Penetration of near field communication across various end users and in medical devices are estimated to generate lucrative opportunities for the market, which will further expand the near field communication (NFC) chip market's growth rate in the future. The data generated by the medical devices is usually within the capability of near field communication to avoid delays in the generated output and highly efficient and accurate outputs processed through the chips. All these factors are creating significant lucrative growth opportunities for the market over the forecasted period.
Restraints/Challenges
- Short ranges of data reading
The short ranges of data reading is the major factor creating hindrance for the market over the forecasted period is expected to obstruct market growth.
- High costs of implementation
The main drawback is that attenuation of near field communication (NFC) chip is higher than average. This factor is projected to be challenge for the near field communication (NFC) chip market over the forecast period.
This near field communication (NFC) chip market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the near field communication (NFC) chip market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Global Near Field Communication (NFC) Chip Market Scope
The near field communication (NFC) chip market is segmented on the basis of product type, storage, usage, application and end use. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- Auxiliary
- Non-Auxiliary
Storage
- 64 Bytes
- 168 Bytes
- 180 Bytes
- 540 Bytes
Usage
- Authentication
- Access Control
- Payment
- Others
Application
- Smartphone
- Television
- Medical Equipment
- Car
- Others
End Use
- Consumer Electronics
- Automotive
- Retail
- Medical
- Aviation
- Others
Near Field Communication (NFC) Chip Market Regional Analysis/Insights
The near field communication (NFC) chip market is analyzed and market size insights and trends are provided by product type, storage, usage, application and end use as referenced above.
The countries covered in the near field communication (NFC) chip market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the near field communication (NFC) chip market during the forecast period of 2022 to 2029 because of the development of data center along with the introduction of 5G network within the region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the rising demand of high-speed connectivity devices within the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Near Field Communication (NFC) Chip Market Share Analysis
The near field communication (NFC) chip market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to near field communication (NFC) chip market.
Some of the major players operating in the near field communication (NFC) chip market are:
- Intel Corporation (U.S.)
- VeriFone, Inc. (U.S.)
- Broadcom (U.S.)
- Qualcomm Technologies, Inc. (U.S.)
- STMicroelectronics (Switzerland)
- NXP Semiconductors. (Netherlands)
- Ingenico. (France)
- SAMSUNG (South Korea)
- Marvell (U.S.)
- Murata Manufacturing Co., Ltd. (Japan)
- MediaTek (Taiwan)
- Giesecke+Devrient GmbH (Germany)
- Renesas Electronics Corporation. (Japan)
- Texas Instruments Incorporated. (U.S.)
- ams-OSRAM AG (Austria)
- Blue Bite LLC (U.S.)
- HID Global Corporation (U.S.)
- Advanced Card Systems Ltd. (Hong Kong)
- Ensurge Micropower (Norway)
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