NFC chip market is expected to reach US$ 17,827. 0 million by 2028

 

The NFC chip market is expected to reach US$ 17,827. 0 million by 2028 from US$ 8,714. 4 million in 2021; it is estimated to grow at a CAGR of 6. 7% from 2021 to 2028.

The overall market has been segmented into North America, Europe, Asia Pacific (APAC), the Middle East and Africa, and South and Central America.

The emergence of special interest groups (SIGs) has fueled the development of future-proof new creative solutions based on NFC technology.Further, the growing need for NFC chips for NFC payments is boosting the worldwide NFC chip market in the future The global near-field communication (NFC) tags market is growing due to the rising popularity of smartphones, increasing popularity of wearable technology, and the focus shifts to providing better consumer experiences.

However, its limited operational range and security concerns hampered the market’s expansion. On the other hand, rising technological improvements in NFC will create further opportunities for the market.