+44 (0)24 7671 8970
More publications     •     Advertise with us     •     Contact us
 
Loading...
News Article

NFC chip market size to surpass US$ 7.6 billion

News

The global NFC chip market is valued at US$ 1.9 billion in 2023 and is predicted to progress at a CAGR of 15% from 2023 to 2033.

One of the key drivers of the near field communication (NFC) chip market is the increasing adoption of mobile payments across the world. Many people are now using their smartphones to make payments, and NFC technology is a key enabler of this trend. NFC-enabled smartphones can be used to make payments at point-of-sale terminals that support contactless payments, which is more convenient and secure than using cash or traditional payment methods.

Another factor boosting the sales of NFC chips is the development of the Internet of Things (IoT). NFC technology is being used in a wide range of IoT applications, from smart homes to connected cars. NFC-enabled devices can be used to exchange data and enable secure communication between devices, which is essential for many IoT applications.

Sales of NFC chips are experiencing tremendous growth, with increasing demand from various industries, including healthcare, retail, transportation, and finance. The healthcare industry is significantly using NFC technology for patient monitoring and remote healthcare services, while retailers are using it to improve the customer experience by offering several mobile payment options and personalized promotions.

Key Takeaways from Market Study

• The global NFC chip market is expected to reach US$ 7.6 billion by 2033.

• The United States market for NFC chips is expanding rapidly due to the presence of key market players.

• NFC technology is widely used in the healthcare sector in Germany.

• China is the leading market in Asia Pacific due to its increasing use in the banking sector.

“Popularity of wireless charging and NFC-enabled vehicle diagnostic systems are fuelling NFC chip sales,” says a Fact.MR analyst.

Recent Market Developments

• STMicroelectronics introduced an affordable NFC Type 2 Tag IC with privacy features and enhanced NFC data exchange format (NDEF) in November 2021. For high-volume utilisation cases such as customer engagement, product information, and brand protection, the solution offers a balance of cost and functionality.

• In May 2019, NXP Semiconductors and Identive, a leader in digital security and identity for the Internet of Things, developed an ultra-cheap RFID inlay.

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global NFC chip market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).

The study divulges essential insights on the market based on product type (auxiliary, non-auxiliary), storage capacity (up to 64 bytes, 65 to 168 bytes, 169 to 180 bytes, 181 to 540 bytes, above 540 bytes), application (smartphones, laptops & notebooks, smart cards, televisions, point-of-sale systems, medical devices, vehicles, smart wearables), and end-use industry (automotive & transportation, consumer electronics, retail, BFSI, healthcare, building & infrastructure, media & entertainment), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).

SPEA donates test equipment to university in Thailand
SONOTEC and S3 Alliance join at SEMICON Europa
Luminaries like high-NA EUV and curvilinear photomasks
SensiML and Silicon Technology join forces
TRI launches high-performance 3D AXI
SONOTEC and S3 Alliance join at SEMICON Europa
Marquee Semiconductor expands Indian presence
Micron begins Memory Manufacturing Fab
SiLC Technologies advances Machine Vision
Renesas partners with EdgeCortix
Gradiant acquires H+E Group
Webinar: Hydrogen Generation Industry Innovations to Meet Expanding North American Fab Hydrogen Requirements
EdgeCortix set to disrupt the edge market?
Evonetix places first DNA Synthesis Development Platform at Imperial College London
ASE launches Integrated Design Ecosystem
Cohu acquires Equiptest Engineering
Advantest wins 2022 Best Supplier Award from ASE Holdings
SEMI welcomes new board members
Advanced Energy breaks ground on flagship factory
GlobalFoundries opens new Malaysia office
TSMC reveals 'breakthrough' set to redefine the future of 3D IC
Delphon announce new VP, strategic marketing & business development
Particle Measuring Systems Announces Acquisition of EMS
Ireland begins high-volume production of Intel 4 Technology
Advantest to showcase latest test solutions
200 gigabits per second
KemLab Inc. applauds CHIPS Act's commitment
200mm fabs to reach record capacity by 2026
Governor DeSantis dedicates $50 million for workforce development
DOD names eight 'Microelectronics Commons' Hubs
TSMC accelerates renewable energy adoption
Mouser signs global agreement with MediaTek
×
Search the news archive

To close this popup you can press escape or click the close icon.
Logo
×
Logo
×
Register - Step 1

You may choose to subscribe to the Silicon Semiconductor Magazine, the Silicon Semiconductor Newsletter, or both. You may also request additional information if required, before submitting your application.


Please subscribe me to:

 

You chose the industry type of "Other"

Please enter the industry that you work in:
Please enter the industry that you work in: