Asia-pacific Near Field Communication (Nfc) Chips Market Forecast 2022-2030

Asia-pacific Near Field Communication (Nfc) Chips Market Forecast 2022-2030KEY FINDINGS

The Asia-Pacific near field communication (NFC) chips market is set to register a CAGR of 12.09% during the forecast period, 2022-2030. The market growth is mainly attributed to the advertising techniques of manufacturers, network operators, and governments to highlight the benefits of NFC technology.

MARKET INSIGHTS

South Korea, Vietnam, Indonesia, Japan, Australia & New Zealand, China, Thailand, India, and Rest of Asia-Pacific are evaluated to assess the growth of the Asia-Pacific near field communication (NFC) chips market. The Thailand market benefits from the increasing uses and initiatives favoring digital and contactless payments across the country. In addition, public transport users make contactless payments for journeys on the bus, rail, and boat services across the capital with their EMV credit or debit card. The increased use of such payment methods is favorable for market growth.

Further, Vietnam has recorded the highest growth in mobile payments in the past few years. As a result, the need for NFC chips is continuously rising, directly influencing the market’s growth. The government of Vietnam is also considering the use of contactless cards for various public transport services, which is expected to create prospects for NFC chips nationally.

Additionally, Australia has observed a significant increase in NFC mobile payments adoption. In 2020, 10.8% of Australians used Apple Pay, Samsung Pay, etc., up from 7.1% in 2019. Growing contactless payments in Australia also drives the country’s near-field communication chip market. As per the Reserve Bank of Australia, the use of cards for lower-value payments has been assisted by the rapid adoption of contactless payments.

COMPETITIVE INSIGHTS

Some key market players include Murata Manufacturing Co Ltd, Toshiba Corporation, Marvell Technology Inc, Sony Corporation, NXP Semiconductors NV, etc.

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