Global Near Field Communication (Nfc) Chips Market 2022-2028
Triton Market Research’s report indicates that the global near field communication (NFC) chips market is expected to progress at a CAGR of 12.99% during the forecast period 2022-2028.
The surge in NFC-based digital transactions, high penetration of NFC-enabled smartphones, and significant adoption of NFC technology are key factors augmenting the NFC chips market’s growth.
Additionally, government support for cashless transactions and the rising application of NFC in medical equipment are opening new avenues for the studied market. However, the easy availability of substitutes, the high cost of NFC chips, and security concerns may impede the near field communication chips market’s growth in the next few years.
The global near field communication (NFC) chips market covers North America, Asia-Pacific, Latin America, Europe, and the Middle East and Africa regions.
The Asia-Pacific is expected to witness the fastest growth over the forecast period. The region’s robust growth is mainly supported by Japan, South Korea, and Australia. The rising advertising technique by manufacturers, network operators, and governments supporting NFC technology drive the studied market’s growth. Presently, there is a rise in card and mobile payments, which has increased NFC chips applications. Therefore, the growing applications of NFC chips supplement the growth of the near field communication chips market.
The notable companies in the near field communication chips market are Samsung Semiconductor Inc, Broadcom Corporation, Marvell Technology Group Ltd, EM Microelectronic Marin SA, Inside Secure SA, MediaTek Inc, Murata Manufacturing Co Ltd, NXP Semiconductors NV, MStar Semiconductor Inc, Stmicroelectronics NV, Qualcomm Inc, Renesas Electronics Corporation, Sony Corporation, Texas Instruments Inc, and Toshiba Corporation.
Broadcom Corporation is a developer and supplier of various complex digital and mixed-signal devices. The company’s product line includes semiconductors for cable termination systems, mobile handsets, servers and storage systems, power conversion, renewable energy systems, factory automation, wireless connectivity solutions, motion encoders, and fiber-optic solutions, among others. It markets products to OEMs, contract manufacturers, distributors, and end consumers. Broadcom Inc operates across the Asia-Pacific, the Americas, and other regions. It is headquartered in California, the US.
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