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The global near field communication (NFC) chips market is estimated to propel with a CAGR of 11.78% during the forecast period, 2022-2030

·3-min read
ReportLinker
ReportLinker

Rising demand for NFC chips in consumer electronics, government initiatives to promote cashless transactions, the growing number of NFC-enabled smartphones, and the adoption of contactless payments across industries are driving the market growth.

New York, April 20, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "GLOBAL NEAR FIELD COMMUNICATION (NFC) CHIPS MARKET FORECAST 2022-2030" - https://www.reportlinker.com/p05371588/?utm_source=GNW


MARKET INSIGHTS
According to research, contactless payments are two times faster than the conventional debit card, credit card, or cash transactions.Therefore, the demand for contactless payments is surging across retail, transport, and other industry verticals, due to ease of transaction and increased efficiency.

Globally, several firms have installed contactless payment systems to streamline payments process, reduce cash handling, increase operational efficiency, and lower operating costs.
Additionally, smartphones are equipped with NFC chips which can be used for making contactless payments.There is an increase in NFC-enabled transactions due to the benefits offered by this technique.

The debit/credit card information can be digitally stored on the mobile through applications such as Mastercard Pay Pass, Google Wallet, Visa payWave, PayPal, etc. The increasing number of NFC-based digital transactions is boosting market growth.
In addition, NFC chips allow users to connect their smart devices with remote control to mirror the device’s display on the television’s screen.NFC chips are also deployed in other consumer electronics such as televisions, washing machines, Wi-Fi routers, refrigerators, cameras, printers, headsets, etc.

Thus, the adoption of NFC technology in various consumer electronics products boosts the global near field communication (NFC) chips market growth.

REGIONAL INSIGHTS
The global near field communication (NFC) chips market growth entails the evaluation of North America, Asia-Pacific, Europe, and Rest of World. Asia-Pacific is anticipated to rise with the highest growth rate by 2030, owing to the advertisements employed by the governments, network operators, and manufacturers to spread information about the benefits of the NFC technology.

COMPETITIVE INSIGHTS
The intense competitive rivalry in the global near field communication (NFC) chips market is expected to move from moderate to high levels over the forecast period.The market is concentrated in nature and competitive with the presence of big players.

Further, companies are trying to compete by providing similar features at competitive prices for the products.
Sony Corporation, Marvell Technology Inc, Texas Instruments Incorporated, NXP Semiconductors NV, Murata Manufacturing Co Ltd, etc., are some of the leading market players operating globally.

Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation caters to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments

Companies mentioned
1. BROADCOM INC
2. EM MICROELECTRONIC-MARIN SA
3. MARVELL TECHNOLOGY INC
4. MEDIATEK INC
5. MSTAR SEMICONDUCTOR
6. MURATA MANUFACTURING CO LTD
7. NXP SEMICONDUCTORS NV
8. QUALCOMM INCORPORATED
9. RENESAS ELECTRONICS CORPORATION
10. SAMSUNG ELECTRONICS CO LTD
11. SONY CORPORATION
12. STMICROELECTRONICS NV
13. TEXAS INSTRUMENTS INCORPORATED
14. TOSHIBA CORPORATION
15. VERIMATRIX (FORMERLY INSIDE SECURE)
Read the full report: https://www.reportlinker.com/p05371588/?utm_source=GNW

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