Near Field Communication (NFC) Chips Market, 63% of Growth to Originate from APAC

The global near field communication (nfc) chips market size is estimated to grow by USD 3.08 billion from 2023 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 12.78% during the forecast period.

APAC - APAC is estimated to contribute 63%. to the growth of the global market. The Near Field Communication (NFC) Chips Market report forecasts market growth by revenue at global, regional & country levels from 2017 to 2027. In the Asia-Pacific (APAC) region, NFC ICs are in high demand, primarily due to the significant presence of Original Equipment Manufacturers (OEMs). These OEMs, operating across various industries, are driving the growth of the NFC chips market.

Leading smartphone manufacturers such as Huawei Technologies, Lenovo, LG Electronics, Newland Payment Technology, OPPO, OnePlus, Pax, Sony, and Samsung Electronics are among the major players incorporating NFC ICs into their products. The APAC region, known for its abundant OEMs and cost-effective production resources, particularly raw materials and labor, dominates the global NFC chips market.

Notably, countries like China, Taiwan, South Korea, and Japan serve as hubs for smartphone manufacturing, boasting a strong global market presence. The strategic establishment of production facilities by these manufacturers further solidifies APAC's position as a key player in the NFC chips market.