The market will decelerate at a CAGR of 7.41% between 2019-2023
LONDON–(BUSINESS WIRE)–#ElectronicComponents–The report, NFC chips market 2019-2023, has been added to Technavio’s catalog. It provides a comprehensive analysis of the market, including its global and regional market share as well as market segmentation based on product (smartphones, smart wearables, POS terminals, and others) and geography (APAC, Americas, and EMEA) for the forecast period 2019-2023.
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The report on the NFC chips market includes:
NFC chips market analysis and forecast 2019-2023: Features
- Competitive landscape
- Market drivers
- Market trends
- Market challenges
- Five forces analysis
- Market landscape
- Market sizing & forecast
NFC Chips Market 2019-2023: Competitive landscape
- Vendors covered
- NXP Semiconductors
- Qualcomm Technologies, Inc.
- Texas Instruments Incorporated
NFC Chips Market Landscape 2019-2023: Geographic Landscape
- APAC – Market size and forecast 2018-2023
- The Americas – Market size and forecast 2018-2023
- EMEA – Market size and forecast 2018-2023
Key leading countries
NFC Chips Market Landscape 2019-2023: Product
- Smartphones – Market size and forecast 2018-2023
- Smart Wearables – Market size and forecast 2018-2023
- POS Terminals – Market size and forecast 2018-2023
- Others – Market size and forecast 2018-2023
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Increased adoption of contactless payments will drive the NFC chips market
Contactless payment minimizes the waiting time for customers to make the payment. To enable contactless transactions, manufacturers have integrated NFC chips into POS terminals. With the growing adoption of NFC chips by smartphone vendors, the purchase volume of NFC-enabled smartphones is increasing. These factors will boost the global market growth.
Increasing demand for smart parking – An emerging trend in the NFC chips market
Both private and public traffic management operators and parking service providers are implementing smart parking solutions. Issues such as, traffic congestion, loss of productive working hours, and difficulty in finding parking slots necessitate smart parking solutions. The increasing adoption of smart parking solutions will drive the need for NFC readers and access control readers, subsequently fueling the demand for NFC chips.
Other Key Topics Covered in the Report are:
- Market ecosystem
- Market characteristics
Market segmentation analysis
- Market definition
- Market sizing 2018
Market size and forecast 2018-2023
DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
- Increasing demand for smart parking
- Strategic alliances and partnerships
- Mobile phone OEMs coming up with MST technology
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