NFC chips market was valued at US$2.802 billion in 2017 and is projected to expand at a CAGR of 24.15% over the forecast period to reach US$10.259 billion by 2023. Increasing application of NFC chips across various consumer electronics products is significantly driving the market growth. Increasing penetration of smartphones in developing economies coupled with supportive government initiatives and policies for cashless payments is further boosting the demand for these chips during the forecast period. Geographically, APAC holds a significant opportunity for NFC chip manufacturers on account of rising smartphone sales in countries like India and China and booming consumer electronics manufacturing in the region.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the NFC chips value chain. Last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the NFC Chips market.
Major industry players profiled as part of the report are Qualcomm Technologies Inc., NXP Semiconductors, and STMicroelectronics among others.
Segmentation
NFC chips market has been analyzed through following segments:
By Application
Authentication
Access Control
Payment
Others
By Industry
Retail
Healthcare
Consumer Electronics
Others
By Geography
North America
U.S.
Canada
Mexico
Others
South America
Brazil
Others
Europe
UK
Germany
France
Others
Middle East and Africa
Saudi Arabia
UAE
Israel
Others
Asia-Pacific
Japan
China
India
Australia
Others
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