Europe Near Field Communication (Nfc) Chips Market 2022-2028
MARKET OUTLOOK
Triton Market Research’s report infers that the near field communication (NFC) chips market in Europe is expected to progress at a compound annual growth rate of 12.49% in revenue during 2022-2028. France, Germany, Spain, the United Kingdom, Italy, and the Rest of Europe form the market in the reflected region.
The French near field communication chips market is supported by innovation by telecom service providers. Moreover, the rising applications for cashless transactions have increased the adoption of NFC chips across the nation. For instance, Orange Organization, a telecom service provider, launched an application to support contactless mobile payments. Furthermore, the contactless spending limit has increased over the past few years. Therefore, these factors are creating affluent opportunities for the near field communication chips market across France.
In Italy, Samsung launched its Samsung Pay based on near field communication, compatible with wearables and mobile devices. Moreover, the government promotes cashless payment through Italia Cashless, offering rewards. In this regard, consumers receive a 10% refund for cashless payments using cards or payment applications. Additionally, Prada has commenced using NFC tags to track products through manufacturing. All these factors augment the NFC chips market’s development within Italy.
COMPETITIVE OUTLOOK
Leading firms in the near field communication chips market comprise Murata Manufacturing Co Ltd, Broadcom Corporation, NXP Semiconductors NV, Samsung Semiconductor Inc, Qualcomm Inc, Sony Corporation, and Inside Secure SA.
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