Report says NFC Chips Market Growing at 50% Every Year Until 2019
Segmented based on end-users, a new research report covering the global NFC chips market in the next 4 years suggests strong growth due to an increase in NFC based transactions, mobile wallets, increased adoption of NFC technology and more as a part of the global NFC chips market analysis .
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.
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. The report includes the present scenario and growth prospects of the global NFC chips market for the period 2015-2019. The report segments the market based on end-users.
Broadcom, Inside Secure, NXP Semiconductors, Sony, Media Tek, Qualcomm and Renesas are some of the vendors mentioned in this NFC chips market research to 2019.
The report, Global NFC Chips Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers its growth prospects in the coming years. The report includes a discussion on the key vendors operating in the NFC chips market. NFC-enabled devices can support various applications such as loyalty cards, credit cards, and transit tickets, enabling customers to connect their NFC phone at a compatible point of sale (POS) terminal to conduct their transaction. NFC technology allows for quicker, more streamlined transactions than the conventional cash or even card payment methods.
A third research forecasts the global NFC enabled handset market to grow at a CAGR of 55.8% to 2019 with NFC technology prices being one of the major market drivers. Advent of combo chip technology is a major trend that players are looking forward to along with a challenge of slow adoption of NFC payments. Acer, BlackBerry, Google, HTC, Lenovo, LG, Microsoft, Motorola, Samsung, Sony, ZTE, Apple, Alcatel, Brunswick, Citrix, Fujitsu, Gionee, Huawei, Lumigon, OnePlus, Oppo Electronics and Xiaomi are companies mentioned in the Global NFC-enabled Handset Market 2015-2019 research report .
Complete report on NFC chips market spread across 58 pages and available starting Aug 26, 2015, analyzing 4 major companies and supported with 21 data exhibits is now available here.