NFC Chip Market Poised to Expand with a CAGR of 18.86% during the forecast period 2018-2023

1. Latest pandemic update of global NFC chip Market Expected to Grow USD 11.76 billion | Market Poised to Expand with a CAGR of 18.86% during the forecast period 2018-2023 Market Research Future has Published a Research Report on NFC chip Market. This Report Covers The Top Countries and Regions of the World, Including Market Share, Size, Trends, Growth, Revenue and much more Across the globe. The boom of the global NFC chip market 2020 is noticeable by Market Research Future which has come into the reading, mainly amid COVID 19 crisis. This foretells that the global NFC chip market and its overall valuation would get bigger post the pandemic that is calculated to be USD 11.76 billion by the year 2023. The growth would occur at a pace of 18.86% CAGR owing to the development of the new dynamism, which is making active development in the market’s growth, mainly from the years 2018-2023. Notable Developments The core advantage of NFC chips directs towards the fact that they do not require manual pairing with other NFC-enabled devices. In fact, the NFC chip automatically connects to the other chip when the other device comes nearby of less than 10 cm in a fraction of time. The rising penetration of smartphones in the market with NFC-enabled technology, consumer electronics adopting NFC technology, rise in the number of NFC-based digital transactions taking place and governments across the world pushing the public to make cashless transactions are some of the essential factors driving the NFC chips market, globally. MRFR also identifies that significant start-ups are mushrooming in the field of NFC as NFC chips being integrated with medical equipment and the vast expenditure made on the R&D for NFCs create opportunities for the growth of this market. With this, the swelling demand for the NFC- based payment solutions has encouraged the manufacturers to widen an improved version of the digital payment platform, and thus developing the market’s worth. The growing incursion of wearable technology devices as a noteworthy component of the Internet of Things with lowered costs have enormously contributed to the industry growth. Furthermore, the emergence of mobile wallets, such as Apple Pay, Android Pay, and Samsung Pay, are also anticipated to further motivate the substantial mobile payments growth. This is

2. owing to the capability of paying through mobile phones instead of cards or any other cashless payment modes. The rising add-on of vendors is anticipated to surge the concentration and propel the development of near field communication infrastructure, thus accelerating the market growth during the assessment period. Global NFC Chip Market USD Billion Top Industry Players The top players in the NFC chip market are identified as MStar Semiconductor, Inc. (Taiwan), Verifone Systems, Inc. (US), STMicroelectronics (Switzerland), SAMSUNG (South Korea), Broadcom Corporation (US), Ingenico Group (France), NXP Semiconductors (Netherlands), and Marvell Technology Group Ltd (Bermuda). Get Free Sample Report @ https://www.marketresearchfuture.com/sample_request/7723 Leading Segments In terms of storage capacity, the market has included 64 Bytes, 168 Bytes, 180 Bytes, and 540 Bytes. Among these, the 64 bytes segment might contribute a significant share to the NFC chip market while 180 bytes is likely to expand at a high growth rate. In terms of vertical segment, the NFC chip market has included media & entertainment, BFSI, hospitality, retail, healthcare, and others. The BFSI sector could lead in future in the NFC chip market during the forecast period in support of substantial contactless payment in the retail sector. The healthcare sector is also in the line of progression at a high CAGR during the forecast period. Regional Front The global market for NFC chip is estimated to grow at a significant rate during the forecast period from 2018 to 2023 among the regions of Europe, North America, Asia-Pacific, and the rest of the world, which includes the Middle East, Africa, and South America.

3. Among the regions mentioned, North America might grasp a significant share of the NFC chip market during the assessment period, followed by Europe. High adoption of digital payments coupled with escalating ownership of Smartphones and internet reach is the key factor driving the NFC chip market in North America. Asia-Pacific regional also might expand at the highest CAGR during the forecast period. This is due to government initiatives implemented in many countries promoting cashless transactions. Also, technological advancements such as a rapid increase in Smartphone adoption and contactless payments are further probable to influence the growth of the NFC chips market. Major Highlights of TOC Covers: 1. Executive Summary 2. Key Business Trends 3. Regional Trends and Growth 4. Product Trends 5. End-use Trends 6. Definition and Forecast Parameters 7. NFC chip Market Segmentation 8. NFC chip Market Landscape 9. Vendor Matrix 10. Company Profiles 11. Business Overview 12. Financial Data 13. Product Landscape 14. Strategic Outlook 15. SWOT Analysis 16. Regional NFC chip Market Share 17. Country NFC chip Market Share 18. Revenue and Sales Forecast If you have any requirements, let know and we will customize the report according to your need. Get More Information: https://www.marketresearchfuture.com/reports/nfc-chip-market- 7723 About Us: At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports

4. (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services. Contact Us Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar, Pune - 411028 Maharashtra, India +1 646 845 9312 Email: sales@marketresearchfuture.com Keywords: - NFC chip, NFC chip Market, NFC chip Market Size, NFC chip Market Share, NFC chip Market Trends, NFC chip Market Report, NFC chip Market Analysis, NFC chip Market Demand