Europe NFC Chip Market

The Europe NFC chip market is expected to reach US$ 6197.94 million by 2028 from an estimated value of US$ 2503.16 million in 2021. It is estimated to grow at a CAGR of 11.4% from 2021 to 2028.

The market's growth is due to the proliferation of NFC-based smartphones and the rising demand for contactless payment. However, short operational range and security concerns are expected to restrict the market growth during the forecast period.

Contactless payment means that individuals can make payments using the point of sale (PoS) system without swiping or inserting their wallets by simply waving their phones at a PoS terminal. Often referred to as NFC technology, it makes it possible for devices to interact within a 4 cm radius. These transactions can be completed using certificates, tags, or even stickers. This is boosting the uptake of contactless payment across both developed and developing countries, such as the UK, Germany, and France.

The UK (64%) has been witnessing higher adoption of contactless payment among other European countries, which is fueling the uptake of NFC POS systems across retail outlets to offer a variety of payment options to the customers. Thus, these factors are influencing the market's growth substantially. For example, Paytm, a digital payments startup, announced its "Paytm Smart POS" for Android phones in March 2021, which allows businesses to take near field communication (NFC)-based credit and debit card payments using smartphones.

Europe NFC Chip Market Revenue and Forecast to 2028 (US$ Mn)

EUROPE NFC CHIP MARKET SEGMENTATION

By Type

• Active
• Passive

By Storage Capacity

• 64 Bytes
• 180 Bytes
• 540 Bytes
• Others

By End User

• Consumer Electronics
• Automotive and Transportation
• Retail
• Healthcare
• Others

By Country

• Germany
• France
• Italy
• UK
• Russia
• Rest of Europe

Company Profiles

• Broadcom Inc.
• INFINEON TECHNOLOGIES AG
• Identiv, Inc
• Toshiba Corporation
• Intel Corporation
• NXP Semiconductors
• Samsung Electronics Co., Ltd.
• Qualcomm Technologies, Inc.
• STMicroelectronics
• Texas Instruments Incorporated

Europe NFC Chip Strategic Insights

Strategic insights for the Europe NFC Chip provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Europe NFC Chip Report Scope

Europe NFC Chip Regional Insights

The geographic scope of the Europe NFC Chip refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.