Global NFC Chips Market Projected To Grow At A CAGR of 42.9% Over The Period 2016-2020

Date: 2016-10-17

Since the smart phone giants Apple and Samsung released their handsets embedded NFC chips years ago, the NFC chips have grown tremendously after other smart phone OEMs released their NFC chip based handsets as well, under this main factor to the NFC chip market, according to research, the global NFC Chips market is projected to grow at a CAGR of 42.9% over the period 2016-2020.

The increasing penetration of NFC technology across the board is the most significant factor in NFC chips market. There has been a tremendous elevation in awareness of NFC that has resulted in the high adoption of the NFC chips. Additionally, an increasing number of patents obtained by vendors, a growing number of global NFC projects and a huge increase in adoption of NFC mobile handsets have significantly contributed to the penetration of NFC technology.

In terms of application, beside the smart phone, market of NFC chips refers to the ICs in mobile devices, POS terminals, and retail products that store information and control transactions. NFC chips enable communication between NFC-enabled devices within a radius of 4 inches. These chips provide ease of transaction and data exchange between devices without the need to pair them. This has resulted in increased adoption for NFC chips market across various segments.

On the basis of geography, Asia Pacific is expecting to hold the position of world largest market, as there is world largest smart phone market, China, other emerging market such as Singapore, Malaysia and Philippine and so on, region followed by America, thanks to its most innovative startups contribute the new technologies that make the growth for the NFC chip market.

NFC Chips market share by region as following:


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Joanna | Executive – International Business and partner Relations
E-mail: | Tel: 510-400-8520

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