Global Near Field Communication Chip market to reach USD 134.6 billion by 2025.
Global Near Field Communication Chip market valued approximately USD 12.15 billion in 2017 is anticipated to grow with a healthy growth rate of more than 41% over the forecast period 2018-2025. The Near field communication chip market is on the surging trend on the global scenario. The Near field communication is mainly an array of protocols which is based on a specific wireless interface which enables the communication devices and electronic gadgets to set up communication with each other under proximity. Also, the Near field communication chips specifically can be described as small electronic device which operates on a wireless link that utilizes the magnetic field induction for transmitting data & to establish wireless connection. The near field communication chip has the ability of identifying various near field communication chip in proximity of upto 4cms. One of the pivotal benefits of utilizing NFC is that the devices when in close proximity directly connects automatically in real time.
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The Near field communication chip market is mainly driven owing to escalating utility in the consumer electronics sector which includes smart phones, tablets, wireless charging devices, boom boxes, headphones and in the Internet of things devices. The Near field communication technology is significantly being adopted by many sectors which includes retail, automotive, healthcare & medical. In the automotive sector the multinational automobile manufacturers which includes Honda, Ford, Toyota and Hyundai are keenly deploying NFC chips into both the passenger vehicles mainly in the cars and commercial vehicles aiming to support the feature of keyless entry in which the vehicle doors automatically locks & unlocks when the user reaches the proximity distance of the vehicle.
Also, the multinational organizations such as Google corporation and Apple Inc have also launched applications such as Apple pay and android pay which precisely operates on near field communication technology which is further augmenting the adoption and growth of Near field communication chip market on the global scenario. However, the concerns related to rising data privacy & data security, lack of interoperability, easy availability of substitutes such as Bluetooth and high cost of NFC chips are acting as restraining factors considering the growth of Near field communication market during the forecasted period.
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The regional analysis of Global Near Field Communication Chip Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share. Whereas, owing to the countries such as China, Japan, and India, Asia Pacific region is anticipated to exhibit higher growth rate / CAGR over the forecast period 2018-2025. The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type:
• Auxiliary Products
• Non-Auxiliary Products
• PC & Laptop
• Smartphone & Tablet
• Mobile/ Contactless Payment
• User Authentication & Access Control
• Monitoring Healthcare system
• Information Sharing
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• North America
• Asia Pacific
• Latin America
• Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
The industry is seeming to be fairly competitive. Some of the leading market players include Samsung Electronics Co.Ltd, NXP Semiconductors N.V., Sony Corporation, Broadcom Corporation, Texas Instruments Incorporated, INSIDE Secure, Toshiba Corporation, Infineon Technologies AG, Apple Inc, STMicroelectronics N.V. and so on. Acquisitions and effective mergers are some of the strategies adopted by the key manufacturers. New product launches and continuous technological innovations are the key strategies adopted by the major players.
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Target Audience of the Global Near Field Communication Chip Market in Market Study:
§ Key Consulting Companies & Advisors
§ Large, medium-sized, and small enterprises
§ Venture capitalists
§ Value-Added Resellers (VARs)
§ Third-party knowledge providers
§ Investment bankers