The NFC chip market is expected to grow from US$ 8,714.4 million in 2021 to US$ 17,827.0 million by 2028; it is estimated to grow at a CAGR of 10.8% during 2021–2028.

NFC technology was originally incorporated into smartphones in 2011 and is now widely integrated into most phones, regardless of whether they run on iOS or Android. An NFC controller chip is attached to an NFC antenna in an NFC-enabled smartphone.

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The controller chip is a customized Central Processor Unit that accepts and executes instructions from the application processor software to finish NFC tag detection and/or reading NFC tag content. Unlike Bluetooth, NFC transfers data without the need for manual pairing or device discovery. When another NFC device enters the previously selected 4-inch range, an NFC connection is automatically established. When the two devices are in range, they quickly communicate and provide prompts to the user. NFC can perform a wide range of tap-and-go functions, and digital wallets like Apple Pay, Google Pay, and Samsung Pay only scratch the surface. Music fans may use NFC to easily connect their mobile to speakers, as well as check in to their work computer, unlock their car door, and track their health and fitness information.

Automotive, air transport, public transportation, retail, and medical are critical sectors expected to be the most crucial end users of NFC technology. To get a competitive edge in the present market scenario, stakeholders in the current NFC chip market are actively pursuing collaboration opportunities with other competitors in the market. The emergence of special interest groups (SIGs) has fueled the development of future-proof new creative solutions based on NFC technology.  Growth in above-mentioned areas will have a positive impact in the growth of NFC chip market.

NXP Semiconductors N.V.; Samsung; Qualcomm; Infineon AG; and STMicroelectronics are some of the key market players operating in the global NFC chip market. The listing of key players is derived by considering multiple factors such as overall revenue, current environmental consulting services product portfolio, geographical reach, new product launches, market initiatives, investment in technology upgradation, partnerships, and other market related activities. In addition to these players, there are several other important players operating in the environmental consulting services ecosystems which were studies analyzed during the course of this market research study.

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