Global Near Field Communication (NFC) Chips Market 2023-2027

Global Near Field Communication (NFC) Chips Market 2023-2027

Technavio has been monitoring the near field communication (NFC) chips market and is forecast to grow by $3083.48 mn during 2022-2027, accelerating at a CAGR of 12.78% during the forecast period. Our report on the near field communication (NFC) chips market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increased penetration of smartphones, increased adoption of contactless payments, and rising government initiatives for digital payments.

Technavio's near field communication (NFC) chips market is segmented as below:

By Type

• Non-auxiliary
• Auxiliary

By Product

• Smartphones
• Smart wearables
• POS terminals
• Others

By Geographical Landscape

• APAC
• North America
• Europe
• South America
• Middle East and Africa

This study identifies the increasing demand for smart parking as one of the prime reasons driving the near field communication (NFC) chips market growth during the next few years. Also, mobile phone OEMs coming up with MST technology and strategic alliances and partnerships will lead to sizable demand in the market.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the near field communication (NFC) chips market covers the following areas:

• Near field communication (NFC) chips market sizing
• Near field communication (NFC) chips market forecast
• Near field communication (NFC) chips market industry analysis

Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading near field communication (NFC) chips market vendors that include Broadcom Inc., EM Microelectronic Marin SA, HID Global Corp., Identiv Inc., Infineon Technologies AG, Intel Corp., MagTek Inc., Marvell Technology Inc., MediaTek Inc., Murata Manufacturing Co. Ltd., Nordic Semiconductor ASA, NXP Semiconductors NV, Qualcomm Inc., Renesas Electronics Corp., Samsung Electronics Co. Ltd., STMicroelectronics NV, Texas Instruments Inc., Thales, Verimatrix Inc., and Sony Group Corp. Also, the near field communication (NFC) chips market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.