The Europe near field communication (NFC) chips market is anticipated to rise with a CAGR of 11.29% during the forecast period, 2022-2030, and is expected to reach a revenue of $1984.94 million by 2030.

The complexity of the ecosystem and the number of stakeholders involved leads to discrete initial progress in the rollout of NFC technology in Europe. Also, NFC chips are swiftly gaining popularity due to the increasing use of contactless payments through electronic gadgets. Most electronic devices, including smartphones and laptops, have inbuilt NFC chips. These chips enable encrypted communication among these devices and ensure the security of the stored data.

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The Europe near field communication (NFC) chips market growth analysis includes the assessment of Russia, United Kingdom, Netherlands, Italy, Germany, France, and Rest of Europe. Germany and the United Kingdom are anticipated to be the most lucrative NFC markets. The market growth in the United Kingdom is mainly driven by the high penetration of contactless payment devices and by the efforts made by the government to promote cashless transactions in the country.

The market is also driven by the high adoption of NFC-enabled smartphones, smart NFC-based wearables, and escalating contactless card adoption in the United Kingdom. In addition to the enhanced operational efficiency offered by contactless payment, fast and easy payments are further augmenting the growth of the near field communication (NFC) chip market in the country.

As per government reports, approximately 6 million mobile phones and 27 million payments cards are equipped with NFC chips in Germany. In addition, there is an increasing demand for NFCs among retailers nationally. The development of contactless payment applications for operations in banking institutions is also favorable to market growth.

Segmentation analysis of the Europe near field communication (NFC) chips market includes application, product, and end-user market. The market by application can be sub-segmented into television, smartphone, medical equipment, and other applications.

Near-field communication chips find application in television by switching on and off automation and providing energy efficiency and required data security. In addition, high-end televisions (smart TV) are enabled by NFC technologies, allowing users to connect their smart devices with remote control of the television to mirror the smartphone display on the television screen. The growing preference of television manufacturers and market players towards advanced wireless communication technologies such as near field communication majorly contributes to the television segment growth during the forecast period.

Furthermore, NFC chips are widely deployed in smartphones as they provide short-distance, secure, and implicit paired communication capability. Technological advancements, as well as research and development in NFC chip-enabled smartphones, contribute to the smartphone segment growth during the forecast period.

Additionally, NFC chips are widely deployed in medical devices and medical equipment due to their ability to transfer data between devices, both outside the body (in vitro) and inside the body (in vivo). Also, NFC chips provide secure communication between medical devices and transfer power wirelessly, making NFC chips an integral medical equipment component. Also, technological advancements in the segment drive market growth of NFC chipsets.

Some key market players in the Europe near field communication (NFC) chips market include Renesas Electronics Corporation, Texas Instruments Incorporated, NXP Semiconductors NV, EM Microelectronic-Marin SA, etc.

NXP Semiconductors NV is a global semiconductor company that provides mixed-signal and standard product solutions for automotive, identification, wireless infrastructure, lighting, industrial, mobile, consumer, and computing applications. The company is headquartered in Eindhoven, the Netherlands.

NXP’s NFC Reader IC, PN7462AU, can interact with NFC phones, write as well as read tags and cards, and enable device-to-device communication. Another key product of the company, PN7362AU, is a highly integrated device that combines a programmable 32-bit Cortex-M0 microcontroller with an NFC frontend.

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