Albany, NY -- (SBWIRE) -- 10/15/2018 -- In a report added by MarketResearchReports.biz, the global NFC chips market is comprehensively analyzed on the basis of various factors such as competition and geography. It is titled "NFC Chips Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024." Rise in demand for smartphones around the world is expected push the growth of the global NFC chips market. The use of NFC chips in the electronics industry to improve contactless safe data transfer could enhance the rise of the global market.

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Increasing manufacturing activities in the consumer electronics industry is forecast to set the tone for valuable growth in the global NFC chips market because of the rise in demand. On the other hand, aggressive technological development in RFID technology could create a whole lot of opportunities in the global NFC chips market. There could be more growth opportunities birthing with increase in private investments in the research and development of NFC chips. Rising government initiatives are foretold to encourage more growth in the global NFC chips market. Wider application usability of NFC chips could be another factor boosting the growth of the global market.

On the basis of end user, the global NFC chips market is segregated into aviation, medical, retail, automotive, consumer electronics, and other segments. By storage capacity, the global NFC chips market is classified into segments such as 540, 180, 168, and 64 bytes. By product application, the global NFC chips market is divided into cars, medical equipment, televisions, and smartphones. Among these, smartphones are expected to take the lead in the global NFC chips market. Rising adoption of new technologies and swelling demand for smartphones could set the tone for strong growth in the global NFC chips market.

However, televisions and medical equipment segments may not be too far behind if market share is concerned. The television market for NFC chips could gain momentum in its growth due to rising disposable income of consumers. Regionally, North America is envisaged to dominate the global NFC chips market with increased tokenizing of cards using NFC chips. Rising partnership between enterprises and banks could also support the growth of the North America NFC chips market. On the other hand, the advent of NFC card emulation standards, peer-to-peer mode, and reader mode is projected to create lucrative opportunities in the global NFC chips market.

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Asia Pacific is prognosticated to show quicker growth in the global NFC chips market because of increased penetration of smartphones. Europe could also show promise as a profit-making region, taking into account the high use of consumer electronics.

Some of the leading players of the global NFC chips market are Qualcomm Inc., Texas Instrument, and NXP Semiconductor.

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