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The increased penetration of smartphones is one of the key factors expected to foster the near field communication (NFC) chips market growth in the forthcoming years. NFC-enabled smartphones are often being used for peer-to-peer communication and card emulator applications. Furthermore, the increasing application of NFC chips is encouraging OEMs for integrating NFC chips in their products. This will further drive the near field communication (NFC) chips market growth in the forthcoming years. The analysts have predicted that the near field communication (NFC) chips market will register a CAGR of over 7% by 2023.
Market Overview
Increasing adoption of contactless payments
One of the growth drivers of the global near field communication (NFC) chips market is the increasing adoption of contactless payments. The rising prevalence of contactless payment and the increasing use of contactless cards and mobile payments are expected to drive the demand for NFC card readers across POS terminals.
Low awareness of NFC technology
One of the challenges in the growth of the global near field communication (NFC) chips market is the low awareness of NFC technology. With the reducing adoption of NFC chips in key market segments, the barrier to the growth of the market will increase. This will affect the unit shipment of NFC chips.
For the detailed list of factors that will drive and challenge the growth of the near field communication (NFC) chips market during 2019-2023, view this report.
Competitive Landscape
The market appears to be moderately concentrated and with the presence of a few market players. Many smartphones OEMs are venturing into MST technology. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
Market Overview
Increasing adoption of contactless payments
One of the growth drivers of the global near field communication (NFC) chips market is the increasing adoption of contactless payments. The rising prevalence of contactless payment and the increasing use of contactless cards and mobile payments are expected to drive the demand for NFC card readers across POS terminals.
Low awareness of NFC technology
One of the challenges in the growth of the global near field communication (NFC) chips market is the low awareness of NFC technology. With the reducing adoption of NFC chips in key market segments, the barrier to the growth of the market will increase. This will affect the unit shipment of NFC chips.
For the detailed list of factors that will drive and challenge the growth of the near field communication (NFC) chips market during 2019-2023, view this report.
Competitive Landscape
The market appears to be moderately concentrated and with the presence of a few market players. Many smartphones OEMs are venturing into MST technology. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
PART 01: EXECUTIVE SUMMARYPART 07: CUSTOMER LANDSCAPE
PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPE
PART 04: MARKET SIZING
PART 05: FIVE FORCES ANALYSIS
PART 06: MARKET SEGMENTATION BY PRODUCT
PART 08: GEOGRAPHIC LANDSCAPE
PART 09: DRIVERS AND CHALLENGES
PART 10: MARKET TRENDS
PART 11: VENDOR LANDSCAPE
PART 12: VENDOR ANALYSIS
PART 13: APPENDIX
List of Exhibits
Global Near Field Communication (NFC) Chips Market 2019-2023
The analyst recognizes the following companies as the key players in the global near field communication (NFC) chips market: Broadcom, NXP Semiconductors, Qualcomm Technologies, Inc., STMicroelectronics, and Texas Instruments Incorporated.
Commenting on the report, an analyst from the research team said: “The latest trend gaining momentum in the market is the mobile phone OEMs coming up with MST technology.”
According to the report, one of the major drivers for this market is the increased penetration of smartphones.
Further, the report states that one of the major factors hindering the growth of this market is the low awareness of NFC technology.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
The analyst recognizes the following companies as the key players in the global near field communication (NFC) chips market: Broadcom, NXP Semiconductors, Qualcomm Technologies, Inc., STMicroelectronics, and Texas Instruments Incorporated.
Commenting on the report, an analyst from the research team said: “The latest trend gaining momentum in the market is the mobile phone OEMs coming up with MST technology.”
According to the report, one of the major drivers for this market is the increased penetration of smartphones.
Further, the report states that one of the major factors hindering the growth of this market is the low awareness of NFC technology.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
A selection of companies mentioned in this report includes:
- Broadcom
- NXP Semiconductors
- Qualcomm Technologies, Inc.
- STMicroelectronics
- Texas Instruments Incorporated
