Global NFC IC Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global NFC IC Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

A Near-Field Communication chip (NFC chip or NFC chipset) is a silicon component or Integrated Circuit (IC) that can be used in different ways, depending on the targeted application.
When connected to an appropriate antenna, an NFC chip enables short-range, wireless communication between two devices. This provides an additional layer of security, as only devices within close proximity of each other can communicate via NFC.

Market Overview:

The latest research study on the global NFC IC market finds that the global NFC IC market reached a value of USD 1858.57 million in 2022. It’s expected that the market will achieve USD 3706.98 million by 2028, exhibiting a CAGR of 12.2% during the forecast period.

Affect the normal operation of the industry

The raging COVID-19 has plunged the global economic environment into depression. The influence of COVID-19 on NFC IC industry will involve all major links and entities in the industrial chain. The management efficiency of the company declined, commuting was hindered, production plans were hindered, and the company's development strategy and marketing methods were forced to adjust. In addition, during the COVID-19 period, the logistics speed slowed down or even stopped, and the supply of raw materials for NFC IC production was tight. The company's production is limited to some extent, and the production of related enterprises in the hardest hit areas is greatly affected. After the epidemic is over, it will also face the financial pressure of rising costs caused by the shortage of raw material.

The popularity of NFC IC in mobile devices is increasing

In all mobile devices based on Android(v.4.0 or above) and iOS(v.11), the use of NFC includes banking transactions between bank cards and POS terminals, transportation and e-ticketing, digital access, passports, contactless digital identity and many other contactless applications. The NFC software protocol stack is fully integrated into Android and iOS mobile operating systems, which can provide a variety of services locally and help to use NFC in multiple applications without installing any specific software or applications.

With the increasing installation of NFC IC in smart devices, the increasing demand for mobile devices drives the growth of NFC IC market.

Intense market competition

For most industries the intensity of competitive rivalry is the major determinant of the competitiveness of the industry. Having an understanding of industry rivals is vital to successfully marketing a product. Positioning pertains to how the public perceives a product and distinguishes it from competitors. A business must be aware of its competitors' marketing strategy and pricing and also be reactive to any changes made.

At present, there are many participating enterprises in the NFC IC industry. In the future market competition, if manufacturers fail to surpass their competitors in terms of product quality, sales channels and R&D strength, they will be unable to maintain their existing competitive position in the NFC IC market and lose their original market share, and there will be a risk that the operating performance of manufacturers will decline.

Region Overview:

In global comparison, a significant portion of the revenue was generated in China (25% in 2021).

Company Overview:

NXP Semiconductors is one of the major players operating in the NFC IC market, holding a share of 51.35% in 2021.

NXP Semiconductors

NXP Semiconductors N.V. is a global semiconductor company creating solutions that enable secure connections and infrastructure for a smarter world. NXP focuses on research, development and innovation in its target markets. NXP Semiconductors headquarters in Eindhoven, Netherlands that focuses in the automotive industry.

STMicroelectronics

STMicroelectronics N.V. is a Switzerland-based semiconductor company. It designs, develops, manufactures and markets a range of products, including discrete and standard commodity components, and application-specific integrated circuits (ASICs) for analog, digital and mixed-signal applications.

Segmentation Overview:

Among different product types, NFC Tag ICs segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Automotive segment occupied the biggest share from 2017 to 2022.

Key Companies in the global NFC IC market covered in Chapter 3:

Broadcom Corporation
Samsung
Marvell technology Group
Qualcomm
STMicroelectronics
NXP Semiconductors
Texas Instruments
MediaTek
Sony Corporation
Infineon Technologies

In Chapter 4 and Chapter 14.2, on the basis of types, the NFC IC market from 2018 to 2029 is primarily split into:

NFC Reader IC
NFC Controller IC
NFC Tag ICs

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the NFC IC market from 2018 to 2029 covers:

Wearable
Mobile
Banking
Automotive
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)