Albany, NY -- (SBWIRE) -- 01/13/2017 -- Transparency Market Research opens a discussion about the global NFC (near-field communication) chips market in its research report. The document, titled "NFC Chips Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024," provides a thorough understanding of the drivers and restraints present in the overall market. The researchers have also included a SWOT analysis to scrutinize the future of the market segments and a Porter's five forces analysis that explains the intensity of the overall competition.

The global NFC chips market is expected to witness a remarkable growth rate between 2016 and 2024 due to increasing consumption and usage of smartphones across the globe. The rapid rise in the demand for smartphones and virtual payments is expected to catapult the sales of NFC chips during the forecast period. NFC chips are also used in several smart appliances to help them connect to other appliances wirelessly. The market is also being fueled by the plummeting prices of NFC chips. The demand for NFC chips are soared as several manufacturers are offering these chips at a substantially low cost. Analysts predict that development of smartphones that will equipped with NFC feature will also result in a high uptake of NFC chips. The emerging trend of online payments, sharing of data, and usage of smart devices for digitization is expected to be the key drivers of the global market.

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Currently, the retail industry is leading segment of the global NFC chips market. Analysts anticipate that this segment will continue its dominance as the implementation of NFC-enabled PoS terminals and electronic shelf labels in across retail outlets is poised to witness a spike. The other end users of NFC chips are industries such as the automotive, residential and commercial, transportation, electronics, banking, and healthcare.

Some of the leading players operating in the global NFC chips market are Mediatek Inc., Renesas Electronics Corporation, Inside Secure, Gemalto NV, Huawei Technologies Co., Ltd., Stmicroelectronics, Samsung Electronics Co. Ltd., and Texas Instruments among others. The research report profiles these players and offers a thorough analysis of the competitive landscape present in the market. The document includes an assessment of the business and marketing strategies of these key players, their expansion plans for the coming few years, investment strategies, and strategic mergers and acquisitions for the next few years. The research report also includes an explanation of the research and development activities being carried out by these players in the global NFC chips market. The report is complete with recommendations and comments from expert market leaders that are aimed at offering unbiased advice to readers.