Near Field Communication (NFC) Chips: Worldwide Market Analysis to 2027 - Governments Across the Globe Encouraging Cashless Transactions

World News: . []

Dublin, Aug. 08, 2019 (GLOBE NEWSWIRE) -- The report has been added to offering.The global market for near field communication chips is set to witness a CAGR of 23.94% over the forecast period 2019-2027.The main advantage of NFC chips is that they do not require manual pairing with other NFC-enabled devices; the NFC chip automatically connects to the other chip when the other device comes in close proximity of less than 10 cm in a fraction of time. The growing penetration of smartphones in the market with NFC-enabled technology, increase in the number of NFC-based digital transactions taking place, consumer electronics adopting NFC technology and governments across the world pushing the public to make cashless transactions are some of the factors that drive the NFC chips market, globally.Moreover, a large number of start-ups mushrooming in the field of NFC, NFC chips being integrated with medical equipment and the extensive expenditure made on the R&D for NFCs create opportunities for the growth of this market.On the flip side, concerns regarding the security of the data, difficulties faced in product designing and certain interoperability issues restrain the growth of the near field communication chips market. Also, challenges like lack of awareness of NFCs, ease of availability of substitutes and high costs of NFCs need to be overcome in order to supplement the market growth further.The global near field communication chips market covers five major geographies, namely, North America, Latin America, Asia-Pacific, Europe and the Middle East and Africa.The Asia-Pacific market region for NFC chips is the fastest-growing market with the highest CAGR; whereas, North America leads global near field communication chip market by capturing the largest market share. The North America NFC chips market is mainly driven by the conjoined efforts of private companies to promote cashless transactions as the smartphone usage further proliferates in the region.Further, the presence of a large array of NFC-enabled mobile payment apps such as Google Wallet, Amazon, MasterCard paypass, Visa payWave, PayPal, square wallet and others have also provided a huge impetus to the growth of NFC chip market in North America. The NFC chip market is also influenced by high disposable incomes in the North American region (according to the OECD). The companies that have been mentioned in the market report are MediaTek, Inc., Samsung Semiconductor, Inc., Inside Secure S.A., EM Microelectronic-Marin S.A., Broadcom Corporation, MStar Semiconductor, Inc., STMicroelectronics N.V., Sony Corporation, Toshiba Corporation, Murata Manufacturing Co., Ltd., NXP Semiconductors N.V., Renesas Electronics Corporation, Qualcomm, Inc., Marvell Technology Group Ltd. and Texas Instruments, Inc. MediaTek is a global manufacturer and developer of semiconductors and it also develops tightly-integrated and power-efficient system-on-chips that are deployed in mobiles, network & connectivity, automated driving, home entertainment and the IoT. Since its foundation, it has pioneered in chipset manufacturing and also provides customer reference designs. The company majorly deals in product segments such as smartphone processors, wireless connectivity that includes system-on-chip, GNSS modules, digital television, IoT system-on-chip, wearable devices system-on-chip, etc.In 2017, MediaTek and STMicroelectronics joined hands to develop NFC technology into mobile platform design. The collaboration was aimed to develop independent solutions that provide secured sources for OEMs and also constitute NFC controllers with an optional embedded secure element. 2.1. Market Definition2.2. Key Insights2.3. Evolution & Transition of Near Field Communication (NFC) Chips 2.4. Porter's Five Force Analysis2.5. Market Attractiveness Matrix 2.6. Industry Components2.7. Regulatory Framework2.8. Vendor Scorecard2.9. Key Impact Analysis 2.10. Market Opportunity Insights2.11. Industry Player Positioning2.12. Key Market Strategies 2.13. Market Drivers2.13.1. Increasing Number of NFC-Based Digital Transactions2.13.2. High Penetration of NFC-Enabled Smartphones 2.13.3. Significant Adoption of NFC Technology in Consumer Electronics2.13.4. Governments Across the Globe Encouraging Cashless Transactions 2.14. Market Restraints2.14.1. Higher Costs of NFC Chips 2.14.2. Security Concerns Related to Data 2.14.3. Difficulties in Product Designing 2.15. Market Opportunities2.15.1. Growing Number of Start-ups in the Field of NFC2.15.2. Integration of NFC With Medical Equipment2.15.3. High Research & Development Expenditure in the Field of NFC 2.16. Market Challenges2.16.1. Lack of Awareness2.16.2. Easy Availability of Substitutes2.16.3. Interoperability Issues 3.1. Auxiliary3.2. Non-Auxiliary4.1. Television4.2. Medical Equipment 4.3. Smartphone4.4. Other Applications5.1. Consumer Electronics5.2. Automotive 5.3. Retail 5.4. Banking & Finance5.5. Medical 5.6. Other Verticals6.1. North America6.2. Europe6.3. Asia-Pacific6.4. Latin America6.5. Middle East & Africa7.1. Broadcom Corporation 7.2. EM Microelectronic-Marin S.A. 7.3. Inside Secure S.A.7.4. Marvell Technology Group Ltd.7.5. Mediatek Inc. 7.6. MStar Semiconductor Inc. 7.7. Murata Manufacturing Co. Ltd. 7.8. NXP Semiconductors N.V.7.9. Qualcomm Inc.7.10. Renesas Electronics Corporation7.11. Samsung Semiconductor, Inc.7.12. Sony Corporation7.13. STMicroelectronics N.V. 7.14. Texas Instruments Inc. 7.15. Toshiba Corporation For more information about this report visit

Research and Markets also offers services providing focused, comprehensive and tailored research.

Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

More news and information about Research and Markets

Published By:

Globe Newswire: 17:54 GMT Thursday 8th August 2019

Published: .

Search for other references to "near" on SPi News


Previous StoryNext Story

SPi News is published by Sector Publishing Intelligence Ltd.
© Sector Publishing Intelligence Ltd 2019. [Admin Only]
Sector Publishing Intelligence Ltd.
Agriculture House, Acland Road, DORCHESTER, Dorset DT1 1EF United Kingdom
Registered in England and Wales number 07519380.
Privacy Policy | Terms and Conditions | Contact Us