Asia Pacific NFC Chip Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Active and Passive), Storage Capacity (64 Bytes, 180 Bytes, 540 Bytes, and Others), and End User (Consumer Electronics, Automotive, Healthcare, Retail, Medical, and Others)
The Asia Pacific NFC chip market is expected to reach US$ 4712.53 million by 2028 from an estimated value of US$ 2071.50 million in 2021. It is estimated to grow at a CAGR of 12.5% from 2021 to 2028.
The growth of the market is due to are proliferation of NFC-based smartphones and rising demand for contactless payment. However, short operational range and security concerns is expected to restrict the market growth during the forecast period.
NFC (near-field communication) is commonly employed in various communication apps. Patient identification, blood transfusion, drug administration, medical personnel tracking, and medical record access have all been demonstrated in health care. The wave of NFC technology has been merged with the Internet of Things (Io T) technologies in healthcare. NFC technology can improve workflow by combining mobile EMR systems with technology.
Public and private spaces exist in many healthcare facilities, including hospitals, treatment centers, clinics, and pharmacies. It is critical to keep these spaces separate, with only authorized staff having access to medical cabinets or operating rooms. NFC tags can track and log every entrance and exit. Employee badges, smartphones, and other devices can be equipped with NFC for access privileges.
NFC allows hospitals to track who is there and who has done what. Medical personnel may see where a patient is when the nurse last came in and what therapy a doctor just gave in real-time.
Data is gathered and stored in access-controlled databases that may be viewed in various forms to help improve logistics, simplify record-keeping, and avoid errors. Patients' traditional bracelets can be replaced with NFC tags and NFC-enabled wristbands, updated with real-time information, such as drug administration details or which treatment needs to be performed.
When NFC tags are placed on a medication's package or labeling, users can verify the medication's legitimacy, check dosage details, and learn about side effects and drug interactions just by pressing the tag with their smartphone or tablet. The tag can also provide access to web links, extra information, a refill request, or a medical professional's contact information. These are a few examples of how NFC might benefit healthcare. As the industry implements the technology, NFC is expected to significantly enhance care by decreasing costs, boosting efficiency, and improving outcomes in healthcare institutions and at home.
Asia Pacific NFC Chip Market Revenue and Forecast to 2028 (US$ Mn)
ASIA PACIFIC NFC CHIP MARKET SEGMENTATION
Active Passive By Storage Capacity
64 Bytes 180 Bytes 540 Bytes Others By End User
Consumer Electronics Automotive and Transportation Retail Healthcare Others By Country
Australia China India Japan South Korea Rest of APACCompany Profiles
Broadcom Inc. INFINEON TECHNOLOGIES AG Identiv, Inc Toshiba Corporation Intel Corporation NXP Semiconductors Samsung Electronics Co., Ltd. Qualcomm Technologies, Inc. STMicroelectronics Texas Instruments Incorporated
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