Albany, NY -- (SBWIRE) -- 10/25/2017 -- Near Field communication (NFC) chips systems are communicating device that are ideal for electronic applications and are capable of identifying the radio frequency identifying technology. Dispensing technology have been widely accepted since 2004 and the further technological advancements have led to evolution of shorter range radio identification technologies between two devices. This advancements helps in facilitating safer data transfer. A key trend that has been observed in the recent past years is growing demand of NFC chips among consumer electronics manufacturer, which is a key driver during the forecast period of 2016-2024.
A surge in demand for smart phones across the globe is driving the demand for NFC chips in global market. This technology is being deployed in electronics to increase and boost contactless safe data transfer. Consumer electronics manufacturers' are increasing their demand for NFC chips overtime, this factor acts as a major driving factor for future demand of NFC chips. Additionally, rapid technological advancements in radio frequency identification are fueling the growth of the global market.
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The government initiatives as well as private investments in research & devolvement of NFC chip technology are supplementing the growth of the market. Thus, the conjoint effect of all these drivers is set to strengthen the growth of the global NFC chip market in the coming years. NFC chips are sometimes of very complex design is expected to hindering the growth for NFC chips during the forecast period. Simpler version of NFC chips designs as an alternative to traditional complex product design is required for wider application usability. Furthermore, cost effectiveness and simplicity to install in devices is boosting the growth of this product market.
Global NFC Chips Market: Segmentation
The global market has been segmented in the basis of application, storage, end users and geography. By application, the global NFC chip market has been broadly classified into smartphone, television, medical equipment, car and others. On the basis of storage NFC chip has been further sub-divided into 64 Bytes, 168 Bytes, 180 Bytes, 540 Bytes and others. Furthermore, end users of NFC chip has been fragmented into consumer electronics, automotive, retail, medical, and aviation among others. By geography, this market has been segregated into North America, Europe, Asia Pacific, Middle East and Africa and Latin America.
Growing popularity in end-user industries such as medical, automotive, retail, and aviation among others coupled with healthy economic growth of emerging economies are offering potential growth opportunities to the global NFC chip market. NFC chips have been extensively used in healthcare sector such as NFC based diabetes monitoring system, NFC for heart monitoring devices, medical implants, and medical data storage devices among others are expected to gain popularity across several end user application is set to boost the market growth in the coming years.
Global NFC Chips Market: Competitive Analysis
The key players in the global NFC chip market have been competitively profiled across the five broad geographic regions. This competitive landscape is inclusive of the various business strategies adopted by these major players and their recent developments in the field of NFC chip. Further, this report includes the market attractiveness analysis of the electronics applications for offering and insight into the major application area of the NFC chip.
An exhaustive analysis of the market dynamics of the global market that is inclusive of the market drivers, restraints and opportunities is covered under the purview of the study. Therefore, the global high resolution dispensing systems and equipment market report offers and extensive study of the market along with providing the forecast of the market in terms of revenue (USD Million) and volume (Units) from 2016–2024. Some of the major players operating in the NFC chip market are NXP Semiconductor (Netherlands), Texas instrument (U.S), Qualcomm Inc. (U.S.), among others.
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