The global NFC chip market is valued at US$ 1.9 billion in 2023 and is predicted to progress at a CAGR of 15% from 2023 to 2033.
One of the key drivers of the near field communication (NFC) chip market is the increasing adoption of mobile payments across the world. Many people are now using their smartphones to make payments, and NFC technology is a key enabler of this trend. NFC-enabled smartphones can be used to make payments at point-of-sale terminals that support contactless payments, which is more convenient and secure than using cash or traditional payment methods.
