NFC Chips Market Growth, Trends, Product, Forecast Research, 2024

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NFC Chips Market Growth Drivers, Key Players
Analysis and Forecast Report to 2024 Global
Market Insights, Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Regional Analysis of NFC Chips Market

• Asia Pacific is expected to witness a high growth
  in industry share in the NFC chips market. The
  strong presence of smartphone players and retail
  sectors is the major factor driving the revenue
  of the industry. With the technological
  advancements in the smartphone industry, the need
  for contactless payments using mobile phones is
  increasing rapidly.
• Growing adoption of this technology in the retail
  sector is expected to provide several advantages
  to the companies such as customer satisfaction,
  spreading awareness about contactless payments,
  and speedy transactions.
• The higher adoption of this technology in retail
  stores and the increasing demand for traffic
  management in these outlets are driving the NFC
  chips market growth.

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• Application Analysis of NFC Chips Market
• Applications of the technology in smartphones are
  expanding the demand for these components in the
  NFC chips market. The rise in technological
  advancements is encouraging the players to
  integrate the technology into mobile phones,
  which will provide smart solutions to the
  customers in their hands. Several mobile
  applications are developed to support this
  payment feature in smartphones. Several
  smartphones players are providing these
  components in their devices for instance, the
  first phone integrated with these chips was Nokia
  6131, which was launched in 2006. Similarly,
  Apple Pay uses this technology to provide
  contactless payment benefits to their customers
  these phones detect the field and allow the
  authentication of the payment by touch ID, face
  ID, or passcode.
• The healthcare sector is expected to witness a
  substantial growth with the adoption of this
  technology in several medical activities and
  patient monitoring. The growing importance and
  the need for tracking and marking the patients
  medicines, timings, doctors visit, and days of
  recovery are driving the NFC chips market growth.
  This technology provides details about the
  medication of the patients by scanning the tags
  and the information about the timing of the scan
  is noted. This technology will help the doctors
  and patients in performing their tasks and
  activities effectively and efficiently without
  any errors.

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Competitive Market Share of NFC Chips Market

• Key players operating in NFC chips market are
  Barclays, Ingenico Group, Giesecke Devrient
  GmbH, Apple, Inc., Marvell Technology Group Ltd.,
  Sony Corporation, Samsung Electronics Ltd.,
  Heartland Payment Systems, Inc, Inside Secure, On
  Track Innovations Ltd., Gemalto N.V., Verifone
  Systems, Inc., Wirecard AG, NXP Semiconductors,
  Broadcom Corporation, Texas Instruments, Inc.,
  Qualcomm, Inc., STMicroelectronics, Media Tek,
  Inc., MStar Semiconductor, Inc, Murata
  Manufacturing Co., Ltd., EM Microelectronic-Marin
  Sa, Renesas Electronics Corporation, and Toshiba
  Corporation, among others.
• These players are competing based on the customer
  requirements for contactless payments and the
  ease to carry out this feature. For instance, in
  July 2018, Pernod Ricard and BlackSheep developed
  connected glass, which is integrated with these
  chips, allowing customers to order their food or
  drink on the table. They are targeting their
  products in the smartphone industry to grow their
  industry share in the NFC chips market.

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