The global NFC tag ICs market size is expected to reach USD 11,638.8 million in 2023 and exhibit steady growth at a CAGR of 15.7% from 2023 to 2033. The increasing need to exchange connections, transactions, and digital content among consumers through various electronic devices is set to drive the market.
As per FMI, sales in the NFC tag ICs market are anticipated to be valued at USD 50,175.2 million in 2033. Rapid digital economic development is expected to encourage manufacturers to invest huge sums in digital innovation to shift toward automated business models.
Near field communication (NFC) tag ICs are extensively used in tablets, laptops, and smartphones to exchange data in a short range of up to 10 cm or less. Additionally, the technology is mainly used in marketing and payment applications across the globe.
In today’s technology-driven world, demand for NFC tag ICs is expected to grow at a significant pace in a wide range of industries. Further, the ability of these tag ICs to streamline security protocols and access control might push their usage in the HR departments of various companies.
NFC tag ICs are set to be utilized in organizations to keep track of team attendance and work hours without being intrusive. Besides, these might help in providing access to office floors, cubicles, or conference rooms to remote employees.
| Attributes | Details |
|---|---|
| NFC Tag ICs Market Estimated Base Year Value (2022) | USD 18.4 Billion |
| NFC Tag ICs Market Expected Market Value (2023) | USD 11,638.8 million |
| NFC Tag ICs Market Anticipated Forecast Value (2033) | USD 50,175.2 million |
| NFC Tag ICs Market Projected Growth Rate (2023 to 2033) | 15.7% CAGR |
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The increasing focus of key players on the improvement of customer experience is one of the vital factors that is projected to augment the global NFC tag ICs market growth in the upcoming decade. Besides, the rising adoption of wearable technology and surging proliferation of smartphones in both developed and developing countries are expected to augur well for the global market.
The emergence of smartphones equipped with NFC-based SOS features is also set to aid growth. These features enable users to scan their smartphones to raise an SOS alarm for an individual involved in an accident or during an emergency, as well as provide the user’s medical history. Furthermore, manufacturers are anticipated to include NFC tag ICs on sealed medical packages to allow caregivers and doctors to check prescriptions and dosage details by using their smartphones.
The power consumption is relatively high in NFC-enabled devices and it may hamper their demand in the evaluation period. These devices provide low data transfer rates and can only operate in short distances of about 10 to 20 cm.
Contactless payment apps are not risk-free as hackers can extract confidential information owing to the availability of advanced techniques and tools. Driven by the aforementioned disadvantages, demand for NFC tag ICs may decline in the future.
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In terms of region, North America is anticipated to generate a large NFC tag ICs market share in the forthcoming years. The notable expansion of the retail sector in the United States of America and Canada is set to contribute to growth in the regional market.
Increasing the usage of NFC tag ICs by retailers for initiating in-store marketing campaigns, providing discounts, and sharing product information with customers is likely to augur well for the market. Moreover, the presence of various leading companies across North America and their investments in the development of innovative products in various segments are set to push growth. For instance
North America dominated the global market and generated more than 27.4% of worldwide revenue.
Asia Pacific is likely to remain in the second position, followed by North America in the assessment period. Further, the increasing adoption of NFC tag IC-enabled entertainment and event apps across emerging economies, such as India and China are set to drive the regional market. Also, NFC apps enable artists, organizers, and venue owners to promote contactless payments, sell tickets, and comply with local norms.
NFC tags are capable of simplifying the process of venue access and ticket delivery for several locations, including concert halls, stadiums, and theaters. Increasing usage of NFC-enabled smartphones and devices among visitors to validate their entry at conferences, theme parks, sporting events, live shows, or concerts is also expected to spur sales of NFC tag ICs in Asia Pacific. India is predicted to expand at a CAGR of 16.1% over the upcoming years.
The quantity of memory that can be retained on an NFC tag is defined as Medium Memory (1000 to 10000 bytes) in NFC Tag IC. The size of memory is sufficient to hold a modest quantity of data, including the distinctive identifier for the tag or company information. This quantity of memory is also sufficient for storing some small files.
The most frequent form of memory size for NFC tags is medium memory (1000 to 10000 bytes) in NFC Tag IC. In 2022, the medium memory (1000 to 10000 bytes) sector held 45.5% of the overall market.
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Some of the prominent companies operating in the global NFC tag ICs market include Mstar Semiconductor Inc., Panasonic Corporation, Qualcomm Inc., STMicroelectronics, Nokia Corporation, NXP Semiconductors, MediaTek Inc., Broadcom Inc., Sony Corp., and Identive among others.
The majority of the leading players in the market are striving to provide NFC-enabled contactless payments and a similar other range of applications to help customers enhance their workflow. Further, the increasing popularity of novel uses of NFC, including NFC-enabled smart sensors, smart cars, and smart posters among the technically inclined and young customers is also expected to create new growth opportunities for key players in the market. For instance,
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 15.7% from 2023 to 2033 |
| Base Year for Estimation | 2023 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| NFC Tag ICs Market Expected Market Value (2023) | USD 11,638.8 million |
| NFC Tag ICs Market Anticipated Forecast Value (2033) | USD 50,175.2 million |
| Quantitative Units | Revenue in USD million, Volume in Kilotons, and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Memory, Connection, Application, Industry, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; The Middle East and Africa |
| Key Countries Profiled |
The United States, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Spain, Italy, Poland, Russia, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC Countries, South Africa, Israel |
| Key Companies Profiled | Mstar Semiconductor Inc.; Panasonic Corporation; Qualcomm Inc.; STMicroelectronics; Nokia Corporation; NXP Semiconductors; MediaTek Inc.; Broadcom Inc.; Sony Corp.; Identive |
| Customization | Available Upon Request |
The global NFC tag ICs market value is estimated to be near USD 11,638.8 million in 2023.
Medium memory segment captured 45.5% of the total market in 2022.
The North America NFC tag ICs market held around 27.4% share of the global market in 2022.
The NFC tag ICs market of India is expected to drive the regional market exhibiting 16.1% CAGR through 2033.
Rising incidents of hacking might restrict the market growth in short term.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Memory 5.1. High (More than 10000 Bytes) 5.2. Medium (1000 to 10000 Bytes) 5.3. Low (Less than 1000 Bytes) 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Connection 6.1. People-To-People (Peer-to-Peer) 6.2. People-To-Devices (Device Pairing) 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 7.1. Smart Posters 7.2. Payment 7.3. Marketing 7.4. Information 7.5. Content 7.6. Social Networking 7.7. Gaming 7.8. Validation 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Industry 8.1. BFSI 8.2. Media & Entertainment 8.3. Retail 8.4. Hospitality 8.5. Healthcare 8.6. Others 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 9.1. North America 9.2. Latin America 9.3. Western Europe 9.4. Eastern Europe 9.5. South Asia and Pacific 9.6. East Asia 9.7. Middle East and Africa 10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 17. Key Countries Market Analysis 18. Market Structure Analysis 19. Competition Analysis 19.1. Mstar Semiconductor Inc 19.2. Panasonic Corporation 19.3. Qualcomm Inc. 19.4. STMicroelectronics 19.5. Nokia Corporation 19.6. NXP Semiconductors 19.7. MediaTek Inc. 19.8. Broadcom Inc. 19.9. Sony Corp. 19.10. Identive 20. Assumptions & Acronyms Used 21. Research Methodology
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NFC Tag ICs Market
