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Near Field Communication (NFC) chip is a small electronic device operating on a wireless link that uses magnetic field induction for transferring data and to establish wireless connection. NFC chip are also capable of identifying other NFC enabled chip in proximity of up to 4cms. NFC enabled devices use a set of communication protocol to establish connection and transfer data. One of the key benefit of using NFC is that the devices when in close proximity connects automatically in fraction of time. The global near field communication chip market is expected to grow at a CAGR of approximately 30% in the forecast period 2016-2023. The increasing usage of NFC chips in connected consumer electronics such as smartphones, wireless charging devices, headphones, boom boxes, cars etc. and the inception of Internet of things (Iot) devices are expected to give a huge boost in the global near field communication chip market in the forecast period.
The NFC technology is increasingly being adopted in various verticals such as in automotive, retail, medical etc. in the automotive sector car manufacturers such as Hyundai, Suzuki etc. have deployed NFC chips in the cars to support the feature of keyless entry in which the doors automatically unlocks when the driver reaches in the proximity of car, in the retail sector NFC featured mobile retail shopping is increasingly been adopted to improve the customer experience. The surge in the number of smartphones is also one of the key drivers for the growth of NFC chip market as the chip allows safe, easy and fast data transfer. According to the world-bank, in 2015, there were 98.39 mobile subscription per 100 people globally. NFC chips are also used for digital transactions, chip enables contactless payments via NFC enabled point of sale machines, government of different countries such as India, US have laid emphasis on cashless economy via digital transactions, thus acting as a driver for the growth of global NFC chip market. Also, private companies such as Google, Apple have also launched android pay, apple pay which runs on NFC technology that further increases the demand of NFC chip. The factors that restraints the growth of NFC chip market is security concerns of the sensitive data and complex product design of the NFC chip whereas conjoint efforts of government and private investment in R&D of NFC chip technology would supplement the growth in the forecast period.
Source: OBRC Analysis.
The report on global near field communication chip market includes segmentation on basis of application, storage capacity and end user.
On the basis of application, NFC chip market are sub-segmented into:
On the basis of storage capacity, NFC chip market are sub-segmented into:
On the basis of end users, NFC chip market are sub-segmented into:
The report scope is widely categorized on the basis the basis of application which include television, Smartphone, Car, medical equipment and others. Moreover, the market revenue estimates and forecast includes revenues from hardware only and does not include revenues from software required for near field communication.
The global NFC Chip market report has been geographically segmented in:
North America accounts highest revenue share in 2016. NFC chip are increasingly being deployed in smartphone to support cashless transaction, wireless charging and its ability to easily connect with other devices, the key driver for the growth of NFC chip market is the increasing penetration of smartphones, according to Pew Internet Research Organization, 59% adults owned a smartphone in 2014 and in 2016, 77% adults in US owned a smartphone which marks an 18% growth in two years. Furthermore, according to Pew, out of total American population around 78% men and 75% women used smartphones in 2016. Thus, increasing smartphone user in North America derives the demand for near field communication chip in North America, other factors that contribute to the growth of NFC chip market in North America is the high disposable income of individuals in countries such as the US, Canada and deployment of NFC enabled POS machines by banks such as Citigroup, Barclays and others. In forecast period, it is expected that Asia pacific would surpass North America due to higher penetration of smartphones in Asia pacific and government initiatives in countries such as India to promote cashless economy thus increasing digital transactions, influencing NFC chip market.
Global near field communication chip market report covers segmentation analysis on the basis of application, storage capacity and end user. The application segment is further sub-segmented into television, Smartphone, Medical Equipment, Car and other. The smartphone segment holds the largest share in the application segment as NFC chip are increasingly being deployed in the smartphones and due to high demand of smartphones. As per mobility report published by Ericsson,
there were around 2.6 billion smartphone user presents across the globe in 2014 and the number is expected to rise to 6.1 billion by the end of 2020. The medical equipment segment would be an opportunity segment for the global NFC chip market in the forecast period owing to deployment of NFC chips in heart monitoring, diabetes monitoring systems, medical data storage devices etc.
The major market players of the global near field communication chip market are:
These companies using various strategies such as merger & acquisition, collaboration, partnership and product launch. Whereas, merger & acquisition and partnership are the key strategy adopted by the companies in the near field communication chip market.
For Example; On 27 October 2016, Qualcomm announced its acquisition of NXP semiconductor aimed at creating semiconductor engine for connected globe, expand services in automotive, Internet of things (IoT), security and networking.
The report covers detailed analysis of companies which comprises overview, SCOT analysis, product portfolio, strategic initiative, strategic analysis, competitive landscape and market share analysis in near field communication chip market.
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At Occams we provide an extensive portfolio which is comprehensive market analysis along with the market size, market share, and market segmentations. Our report on global near field communication chip market offers detailed analysis of strategic models such as investment vs. adoption model, see saw analysis and others strategic models. Also, the report contains the detailed analysis of application, adoption scenario and decision support for each segment. The report discusses competitive landscape of the near field communication chip market, with giving extensive SCOT analysis of key companies.
Key findings of the global near field communication chip market.