Near Field Communication (NFC) Chips

Near Field Communication (NFC) Chips

Global Near Field Communication (NFC) Chips Market to Reach $7.4 Billion by 2027

In the changed post COVID-19 business landscape, the global market for Near Field Communication (NFC) Chips estimated at US$3.4 Billion in the year 2020, is projected to reach a revised size of US$7.4 Billion by 2027, growing at a CAGR of 11.8% over the analysis period 2020-2027. Smartphones, one of the segments analyzed in the report, is projected to record a 11.9% CAGR and reach US$3.6 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Smart Wearables segment is readjusted to a revised 13.1% CAGR for the next 7-year period.

The U.S. Market is Estimated at $1 Billion, While China is Forecast to Grow at 11.3% CAGR

The Near Field Communication (NFC) Chips market in the U.S. is estimated at US$1 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.3 Billion by the year 2027 trailing a CAGR of 11.3% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 10.3% and 10% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 8.6% CAGR.

POS Terminals Segment to Record 10.6% CAGR

In the global POS Terminals segment, USA, Canada, Japan, China and Europe will drive the 10.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$387.4 Million in the year 2020 will reach a projected size of US$778.6 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets.

Select Competitors (Total 38 Featured) -

• Infineon Technologies AG
• NXP Semiconductors NV
• Qualcomm Technologies, Inc.
• Renasas Electronics Corporation
• STMicroelectronics NV
• Toshiba Corp.

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