Report : Asia Pacific NFC Chip Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Active and Passive), Storage Capacity (64 Bytes, 180 Bytes, 540 Bytes, and Others), and End User (Consumer Electronics, Automotive, Healthcare, Retail, Medical, and Others)
The consumer electronics segment by end user is estimated to lead the market growth during the forecast period.
According to a new market research study of “Asia Pacific NFC Chips Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Instrument Type, Storage Capacity, End User and Country.” The Asia Pacific NFC chip market is expected to reach US$ 4712.53 million by 2028 from an estimated value of US$ 2071.50 million in 2021. It is estimated to grow at a CAGR of 12.5% from 2021 to 2028. The report highlights trends prevailing in the Asia Pacific NFC chip market and the factors driving market along with those that act as hindrances.
NFC (near-field communication) is commonly employed in various communication apps. Patient identification, blood transfusion, drug administration, medical personnel tracking, and medical record access have all been demonstrated in health care. The wave of NFC technology has been merged with the Internet of Things (IoT) technologies in healthcare. NFC technology can improve workflow by combining mobile EMR systems with technology.
Public and private spaces exist in many healthcare facilities, including hospitals, treatment centers, clinics, and pharmacies. It is critical to keep these spaces separate, with only authorized staff having access to medical cabinets or operating rooms. NFC tags can track and log every entrance and exit. Employee badges, smartphones, and other devices can be equipped with NFC for access privileges.
NFC allows hospitals to track who is there and who has done what. Medical personnel may see where a patient is when the nurse last came in and what therapy a doctor just gave in real-time.
Data is gathered and stored in access-controlled databases that may be viewed in various forms to help improve logistics, simplify record-keeping, and avoid errors. Patients' traditional bracelets can be replaced with NFC tags and NFC-enabled wristbands, updated with real-time information, such as drug administration details or which treatment needs to be performed.
When NFC tags are placed on a medication's package or labeling, users can verify the medication's legitimacy, check dosage details, and learn about side effects and drug interactions just by pressing the tag with their smartphone or tablet. The tag can also provide access to web links, extra information, a refill request, or a medical professional's contact information. These are a few examples of how NFC might benefit healthcare. As the industry implements the technology, NFC is expected to significantly enhance care by decreasing costs, boosting efficiency, and improving outcomes in healthcare institutions and at home.
Based on storage capacity, the Asia Pacific NFC chip market is segmented as 64 Bytes, 168 Bytes, 180 Bytes, and 540 Bytes. Based on type, the Asia Pacific NFC chip market is segmented as active and passive. Based on end user, the Asia Pacific NFC chip market is segmented consumer electronics, automotive, retail, healthcare, and others. Geographically, the Asia Pacific NFC chip market is sub-segmented into Australia, China, India, Japan and South Korea and Rest of Asia Pacific.
Broadcom Inc., INFINEON TECHNOLOGIES AG, Identiv, Inc., Toshiba Corporation, Intel Corporation, NXP Semiconductors, Samsung Electronics Co., Ltd., Qualcomm Technologies, Inc., STMicroelectronics and Texas Instruments Incorporated are among the leading companies operating in the Asia Pacific NFC chip market.
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