NFC Chip Market Size, Share & Global Industry Growth by 2028

NFC Chip Market Forecast to 2028 - COVID-19 Impact and Global 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)  

  • Report Code : TIPRE00008283
  • Category : Electronics and Semiconductor
  • Status : Published
  • No. of Pages : 172

NFC Chip Market Size, Share & Global Industry Growth by 2028

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The NFC chip market is expected to grow from US$ 8,714.4 million in 2021 to US$ 17,827.0 million by 2028; it is estimated to grow at a CAGR of 10.8% during 2021–2028.

Smartphones have become an integral component of the lives of today's consumers. Consumers are using their cell phones to make quicker and faster payments in addition to traditional ways of communication. NFC is a convenient means of payment as it combines a consumer's mobile device with their wallet. It allows users to conduct mobile transactions, trade digital material quickly, and link their devices to other devices by touch. As a result, the number of devices equipped with NFC technology is growing, which helps in gaining the expansion and popularity of NFC technology in emerging markets. NFC chips make user interfaces easier to use, making them more useful in consumer products. Smartphone manufacturers, such as Apple and Samsung, include NFC chips in their handsets, resulting in increased demand for NFC chips among mobile phone manufacturers. With increasing use of smartphones, penetration of NFC will also rise that will boost the growth of NFC chip market

Further, the rising adoption of digitalization and enhanced communication technologies is driving NFC chip demand. Android Beam, for example, is a function present in every NFC-enabled Android smartphone. Users may exchange media and contacts with another Android smartphone by merely keeping their phones close together. As NFC takes less power to operate and can occasionally work without electricity, it is a convenient way to share digital files. The aforesaid factors are creating positive impact in fueling the growth of NFC chip market.

NFC also operates in a peer-to-peer mode, apart from mobile payments and the smart distribution of information. It enables two smartphones to exchange contacts, calendar activities, website links, images, and even video clips, similar to Bluetooth and Wi-Fi direct. NFC is a promising exchange and trade solution, and small retail businesses improve their profits by offering a smooth and easier transaction to their customers. The benefits exhibited above related to NFC technology is resulting into generating lucrative business opportunities for the the growth of NFC chip market.


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NFC Chip Market: Strategic Insights

NFC Chip Market
  • CAGR
    CAGR (2021 - 2028)
    10.8%
  • Market Size 2021
    US$ 8.71 Billion
  • Market Size 2028
    US$ 17.83 Billion

Market Dynamics

GROWTH DRIVERS
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FUTURE TRENDS
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OPPORTUNITIES
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Key Players

  • Broadcom Inc
  • INFINEON TECHNOLOGIES AG
  • Identiv Inc
  • Intel Corporation
  • NXP Semiconductors
  • Qualcomm Technologies Inc
  • Samsung Electronics Co Ltd
  • STMicroelectronics
  • Texas Instruments Incorporated

Regional Overview

Regional Overview
  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

Market SegmentType
  • Active and Passive
Market SegmentStorage Capacity
  • 64 Bytes
  • 180 Bytes
  • 540 Bytes
Market SegmentEnd User
  • Consumer Electronics
  • Automotive
  • Healthcare
  • Retail
  • Medical
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Impact of COVID-19 Pandemic on NFC Chip Market

North America has the highest adoption and growth rate of new technologies owing to favorable government policies to boost innovation and strengthen the infrastructural capabilities. Hence, any impact on industries is expected to affect the region's economic growth negatively. The US was the world’s worst affected country due to the COVID-19 outbreak, thereby influencing the high adoption of online shopping during the pandemic. For instance, according to studies, Amazon recorded an increase in sales by 37% owing to the COVID-19 pandemic.

The shut down of all retail outlets by the government authorities coupled with the social distancing norms affected the investments by retail outlets on any technological advancements. For instance, the sales of the online grocery segment across the US, recorded an increase of 210.1% due to the pandemic. This rise in online sales of consumables decreased the dependency of the region’s population on brick and mortar stores. The COVID-19 pandemic has resulted into positively impacting the growth of NFC technology owing to contactless and caahless payment, which in turn has drive the NFC chip market.

NFC Chip Market Insights

Surge in Adoption of NFC-Enabled Wearable Technology

Wearable technology is a new trend that integrates electronics into daily activities and responds to changing lifestyles by allowing devices to be worn on any part of the body. Wearable technology is driven by connecting to the internet and giving data exchange choices between a network and a device. Due to the surge in the fitness trend among consumers, wearable has received a lot of popularity. According to Cisco Systems, linked wearable devices are predicted to rise from 593 million in 2018 to 1,105 million in 2022 due to additional features, such as the brand that suits the everyday lifestyle. Strong brands like Apple and Fossil keep their pricing constant with typical watch price bands to preserve their sales. Many additional premium watchmakers, like TAG and Armani, have entered the segment due to Google's WearOS. Despite significant space and power constraints, intelligent wearables and IoT devices are becoming increasingly popular by adding additional functions. When a wearable gadget has NFC capabilities, it can be used to pay at a store, use public transportation, or gain entrance to an office building. SECORA Connect, for example, is a solution family from Infineon that addresses the growing popularity of smart wearables and IoT devices. It is a system solution that can be implemented into smart wearables to enable contactless secured payment, transportation ticketing, and other applications using Near Field Communication (NFC). Thus, the factors mentioned above are driving the growth of the NFC chip market. More investments and growth plans in these technologies are projected to continue in the forecast period, which is expected to create opportunities for NFC chips in the industry.

End-User-Based Market Insights

Based on end user, the NFC chip market is segmented into consumer electronics, automotive, retail, medical, and others. In retail industry, most of the NFC POS terminals were installed worldwide due to the rising demand for contactless payments. Carrefour, a France-based retailer, launched Carrefour Pay—a mobile payment system—which allows users to pay for their groceries with their NFC-enabled smartphones at the POS terminal. The system has been connected to cards of all banks and has been accepted in 3000 stores in France. The launch of this system is part of the Carrefour‘s plan to design digital operations, supported by an investment of US$ 3.39 billion. As older systems approach retirement, POS vendors increasingly include NFC support in new systems as a standard. Moreover, smartphone-wielding customers are adopting contactless payments in ever-growing numbers as it is quick and convenient.

Storage Capacity-Based Market Insights

Based on storage capacity, the NFC Chip Market is segmented as 64 bytes, 168 bytes, 180 bytes, and 540 bytes. The NFC chips with low storage capacity are used for inventory management, supply chain management, asset tracking, and automation in ticketing and anti-counterfeiting. The NFC chips with high storage capacity, such as 180 bytes and 540 bytes, have high read/write endurance and can retain up to 50 years’ worth of data. They also support SUN (secure unique NFC message), which enables and simplifies many applications involving security and encryption such as advanced anti-counterfeiting, secured sensitive data applications, secure login, and authentication.

NFC Chip Market Report Scope

Report Attribute Details
Market size in 2021 US$ 8.71 Billion
Market Size by 2028 US$ 17.83 Billion
Global CAGR (2021 - 2028) 10.8%
Historical Data 2019-2020
Forecast period 2022-2028
Segments Covered By Type
  • Active and Passive
By Storage Capacity
  • 64 Bytes
  • 180 Bytes
  • 540 Bytes
By End User
  • Consumer Electronics
  • Automotive
  • Healthcare
  • Retail
  • Medical
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • Broadcom Inc
  • INFINEON TECHNOLOGIES AG
  • Identiv Inc
  • Intel Corporation
  • NXP Semiconductors
  • Qualcomm Technologies Inc
  • Samsung Electronics Co Ltd
  • STMicroelectronics
  • Texas Instruments Incorporated
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Players operating in the NFC chip market adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:

  • In 2021, Broadcom launched World's lowest power L1/L5 GNSS receiver chip, the BCM4778, for mobile & wearable applications.

The global NFC chip market is segmented into type, storage capacity, end-user, and geography. On the basis of type, the NFC chip market is segmented into active and passive. Based on storage capacity, the market is segmented into 64 bytes, 168 bytes, 180 bytes, and 540 bytes. Based on end-user, the market is segmented into consumer electronics, automotive, retail, healthcare, and others.  

AMS AG; Broadcom Inc.; Identiv, Inc; Toshiba Corporation; Intel Corporation; NXP Semiconductors; Samsung Electronics Co., Ltd.; Qualcomm Technologies, Inc.; STMicroelectronics; and Texas Instruments Incorporated are the key NFC chip market players considered for the research study. In addition, several other significant NFC chip market players have been studied and analyzed in this research report to get a holistic view of the global NFC chip market and its ecosystem.

Report Coverage

Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered

Segment Covered

Type, Storage Capacity and End User

Regional Scope

Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope

Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


Which are the major end users for NFC chip?

The major industries in NFC chip includes consumer electronics, automotive, healthcare, retail, medical, and others. Consumer electronics held the largest segment in 2020 in NFC chip market.

Which region has dominated the NFC chip market in 2020?

In 2020, North America led the market with a substantial revenue share, followed by Europe and APAC. Asia Pacific is a prospective market for NFC chip market players. With the increasing demand from customers for high-quality products and services, companies are continuously focusing on innovation to serve their customers in the best possible way. North America is renowned for high-quality industrial and consumer product manufacturing. Manufacturers in the region are highly focused on meeting the end-user requirements by using advanced technologies, such as automation, to improve the production quality and optimize the overall manufacturing process.

Which are the major companies operating in the NFC chip market?

The major companies in NFC chip includes NXP Semiconductors N.V.; Samsung; Qualcomm; Infineon AG; and STMicroelectronics. The listing of these five key players is derived by considering following key parameters: overall revenue, segmental revenue, brand image & industry expertise, current NFC chip portfolio and related products, customer base, geographical reach, research and development investments, patents, technology integration, new product launches, partnerships, mergers & acquisitions and other market related activities

Which storage capacity dominated the market in 202?

The global NFC chip market was dominated by the 180 Bytes segment in 2020. It is a net generation chip with better scanning strength available in a reasonable rate. The chip with this storage is used for train/bus passes and other transport application.

What are key market opportunities for NFC chip market?

NFC (near-field communication) is a technology commonly employed in various communication apps. Patient identification, blood transfusion, drug administration, medical personnel tracking, and medical record access have all been demonstrated in the realm of health care. The wave of NFC technology has been merged with the internet of things technologies in health care. NFC technology can improve workflow by combining mobile EMR systems by employing bedside technology. Public and private spaces exist in many healthcare facilities, including hospitals, treatment centers, clinics, and pharmacies. It's 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, and 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. This, in turn, will provide growth opportunities to the market players during the forecast period.

What are key driving factors behind NFC chip market growth?

Proliferation of NFC-based smartphones, rising demand for contactless payment, integration of NFCs with medical equipment, and surge in adoption of NFC-enabled wearable technology are the factors boosting the NFC chip market.

The List of Companies - NFC Chips Market  

  1. Broadcom Inc.
  2. INFINEON TECHNOLOGIES AG
  3. Identiv, Inc
  4. Intel Corporation
  5. NXP Semiconductors
  6. Qualcomm Technologies, Inc.
  7. Samsung Electronics Co., Ltd.
  8. STMicroelectronics
  9. Texas Instruments Incorporated
  10. Toshiba Corporation

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