NFC chips refer to the ICs in mobile devices, POS terminals, and retail products that store information and control transactions. NFC chips enable communication between NFC-enabled devices within a radius of 4 inches. These chips provide ease of transaction and data exchange between devices without the need to pair them. This has resulted in increased adoption of NFC chips across various segments.
Technavio's analysts forecast the global NFC chips market to grow at a CAGR of 50.6% by volume over the period 2014-2019.
Covered in this Report
The report includes the present scenario and growth prospects of the global NFC chips market for the period 2015-2019. The report segments the market based on end-users. Technavio's report, Global NFC Chips Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers its growth prospects in the coming years. The report includes a discussion on the key vendors operating in this market.
Key Vendors Broadcom Inside Secure NXP Semiconductors Sony
Other Prominent Vendors Media Tek Qualcomm Renesas
Key Market Driver Increased Adoption of NFC Technology For a full, detailed list, view our report
Key Market Challenge High Cost of NFC Chips For a full, detailed list, view our report
Key Market Trend Rise in NFC-based Transactions For a full, detailed list, view our report
Key Questions Answered in this Report What will the market size be in 2019 and what will the growth rate be What are the key market trends What is driving this market What are the challenges to market growth Who are the key vendors in this market space What are the market opportunities and threats faced by the key vendors What are the strengths and weaknesses of the key vendors
Technavio Announces the Publication of its Research Report Global NFC Chips Market 2015-2019
Technavio recognizes the following companies as the key players in the Global NFC Chips Market: Broadcom, Inside Secure, NXP Semiconductors and Sony
Other Prominent Vendors in the market are: Media Tek, Qualcomm and Renesas
Commenting on the report, an analyst from Technavios team said: Mobile wallets allow users to save the information of their debit and credit cards in their mobile devices and use their cell phones to make payments directly at NFC-ready POS terminals. The future of the global NFC chips market looks promising as NFC chip vendors are increasingly introducing innovative products such as NFC-enabled USBs and NFC-ready stickers.
According to the report, the growth of the global NFC chips market is driven by several factors, the most prominent being the increasing adoption of NFC-enabled hand-held devices. Devices such as smartphones, computer tablets, and PCs have become platforms for applications that facilitate easy transactions at POS terminals and offer fast data exchange between NFC-enabled devices. Cell phone manufacturers are increasingly using NFC technology for the value addition of products in the market.
Further, the report states that the global NFC chips market faces serious challenges. High cost of NFC chips, ambiguity in the standards for payment process set by government institutions worldwide, and the lack of interoperability among the entities in the NFC ecosystem are preventing organizations from adopting the technology.
Broadcom, Inside Secure, NXP Semiconductors, Sony, Media Tek, Qualcomm, Renesas