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The near field communication (nfc) chips market size is forecast to increase by USD 3.71 billion, at a CAGR of 13.64% between 2023 and 2028.
Explore in-depth regional segment analysis with market size data - historical 2018-2022 and forecasts 2024-2028 - in the full report.
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The market continues to evolve, driven by the expanding use cases and technological advancements in this contactless technology. NFC's seamless integration into various sectors, such as contactless payments, supply chain management, healthcare applications, and industrial automation, is revolutionizing business processes. NFC middleware and reader-writer mode enable inventory tracking and data logging, while NFC antennas extend read range and enhance performance. NFC software and readers facilitate secure data transfer and peer-to-peer communication, ensuring regulatory compliance and encryption algorithms. The market dynamics are further shaped by advancements in NFC antenna design, power consumption optimization, and chipset integration. NFC controllers and wireless communication enhance industrial automation and smart home integration.
NFC libraries, NFC writers, and NFC APIs streamline development and customization. The ongoing unfolding of market activities includes the emergence of new applications, such as digital signage and access control systems, and the evolution of existing ones, like transit ticketing and card emulation. The market's continuous growth is fueled by the convergence of NFC technology with RFID and the development of new operating frequencies. NFC's role in enabling contactless payments is a significant factor in its market growth. However, its applications extend beyond monetary transactions, with potential in areas like healthcare, transportation, and industrial automation. The technology's ongoing evolution is marked by advancements in water resistance, temperature range, and security protocols, ensuring its relevance and versatility in various industries.
The near field communication (nfc) chips industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The non-auxiliary segment is estimated to witness significant growth during the forecast period.
The Near Field Communication (NFC) chip market encompasses a range of applications and technologies, including testing and validation, mobile payments, inductive coupling, impedance matching, temperature range, the NFC Forum, active mode, access control systems, passive mode, transit ticketing, NFC libraries, NFC writers, contactless payments, supply chain management, NFC middleware, reader-writer mode, inventory tracking, NFC antennas, healthcare applications, NFC software, NFC readers, read range, water resistance, encryption algorithms, RFID technology, card emulation, operating frequency, digital signage, NFC controllers, wireless communication, industrial automation, smart home integration, regulatory compliance, NFC enabled devices, peer-to-peer communication, data transfer rates, data logging, chipset integration, NFC APIs, antenna design, power consumption, security protocols, antenna tuning, cost optimization, ISO/IEC standards, authentication methods, firmware updates, and wearable technology.
NFC chips are integrated into various products, such as smartphones, controllers, antennas, NFC tags, and NFC readers, enabling contactless payments, access control, and secure data sharing. Passive NFC tags, which can store and transfer a wide range of information, are read by NFC readers and are often used in public transportation systems and contactless POS terminals. NFC readers, on the other hand, are integrated into various devices, including access control systems, transit ticketing systems, and contactless POS terminals, to facilitate contactless transactions and data sharing. NFC technology offers numerous benefits, such as increased convenience, improved security, and enhanced functionality, making it a popular choice for various industries, including healthcare, retail, transportation, and logistics.
The Non-auxiliary segment was valued at USD 1.72 billion in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 65% to the growth of the global market during the forecast period.Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The NFC chips market in APAC is primarily driven by the region's high concentration of OEMs, particularly in the end-user industries of mobile payments, access control systems, and transit ticketing. Major OEMs, such as Huawei Technologies, Lenovo, LG Electronics, Newland Payment Technology, OPPO, OnePlus, Pax, Sony, and Samsung Electronics, have incorporated NFC chips into their product offerings. These manufacturers, including those based in China, Taiwan, South Korea, and Japan, have established production sites in APAC due to cost advantages. NFC technology enables various applications, including contactless payments, supply chain management, inventory tracking, and healthcare applications.
NFC chips operate using inductive coupling, impedance matching, and temperature range within the NFC forum's specifications. Impedance matching and temperature range are crucial factors in ensuring reliable communication between NFC devices. NFC chips operate in both active and passive modes, with active mode requiring a power source and passive mode utilizing energy from the reader. NFC chips are also used in transit ticketing, access control systems, and digital signage. NFC libraries, writers, and middleware facilitate the development and implementation of NFC applications. NFC readers and antennas are essential components of NFC systems, with read ranges varying depending on the application.
NFC chips are also used in wearable technology, industrial automation, and smart home integration. Security is a significant concern in NFC applications, with encryption algorithms and authentication methods essential to protect data. Regulatory compliance is also crucial, with NFC chips adhering to ISO/IEC standards. Firmware updates and antenna tuning are essential for maintaining optimal performance and cost optimization. NFC technology is not limited to mobile devices but is also used in RFID technology, card emulation, and peer-to-peer communication. NFC chips operate at a frequency of 13.56 MHz and support data transfer rates of up to 848 kbps.
Power consumption is a critical factor, with NFC chips designed for minimal power usage. NFC chips are also water-resistant and support wireless communication. In conclusion, the NFC chips market in APAC is thriving due to the region's high concentration of OEMs and the versatility of NFC technology. NFC chips are used in various applications, including mobile payments, access control systems, transit ticketing, and healthcare applications. NFC technology offers benefits such as contactless payments, supply chain management, inventory tracking, and security. NFC chips are essential components of NFC systems, including readers, antennas, libraries, writers, and middleware.
NFC technology is subject to regulatory compliance and security protocols, ensuring data protection and optimal performance.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The near field communication (nfc) chips market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the near field communication (nfc) chips market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, near field communication (nfc) chips market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
Broadcom Inc. - This company specializes in producing advanced microcontroller system chips, engineered for enhanced security in payment applications and user authentication within computing platforms. These chips ensure robust protection for sensitive data transactions.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Dive into Technavio’s robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Near Field Communication (NFC) Chips Market insights. See full methodology.
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Market Scope |
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Report Coverage |
Details |
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Page number |
181 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 13.64% |
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Market growth 2024-2028 |
USD 3706 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
11.73 |
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Key countries |
China, US, South Korea, Japan, and Canada |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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