India Near Field Communication (Nfc) Chips Market Forecast 2022-2028

India Near Field Communication (Nfc) Chips Market Forecast 2022-2028KEY FINDINGS

The India near field communication (NFC) chips market is expected to propel with a CAGR of 14.12% during the forecast period, 2022-2028. The market growth is boosted by government ventures and campaigns to curb black money and encourage digital transactions.

MARKET INSIGHTS

The government of India constantly urges the citizens to switch to contactless payments as the primary mode of transaction. Technology is a key catalyst to this venture, with more user-focused advancements that align with shifting consumer behavior. New methods like QR codes and contactless cards have emerged to make payments seamless and secure. Additionally, simplicity and enhanced security have led to a wide-scale adoption of contactless payments.

The Institute for Development and Research in Banking Technology (India) introduced a program on Mobile wallets and NFC-based payments in 2016 to learn about NFC technology, security issues, and NFC-based payment. Banks and financial institutions can participate in this program to get complete knowledge and information regarding NFC technology. As a result of increased awareness of the technology, the adoption of NFC chips is expected to rise in India, positively influencing the market growth nationally.

COMPETITIVE INSIGHTS

Qualcomm Incorporated, Siva IoT (Siva Group), Texas Instruments Incorporated, etc., are some of the leading market players in India.

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