The global automotive NFC market is anticipated to create an absolute dollar opportunity over the forecast period by displaying a CAGR of 30.2% from 2022 to 2032. The global market was valued at US$ 3.26 Billion in 2022 and is estimated to reach US$ 35 Billion by 2032. According to the historic analysis, the global automotive NFC market registered a valuation of US$ 2.5 Billion in 2021.
The Automotive NFC (Near Field Communication) Market is experiencing significant growth driven by the increasing integration of NFC technology in vehicles for various applications, including keyless entry systems, mobile device connectivity, and secure access and authentication. NFC enables seamless communication between electronic devices over short distances, allowing drivers to interact with their vehicles using smartphones or NFC-enabled key fobs.
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Furthermore, NFC technology is being adopted by automakers to enhance the convenience, security, and connectivity features of vehicles, offering benefits such as hands-free entry, personalized user profiles, and secure digital key management. Additionally, the rise of connected cars and the Internet of Things (IoT) is driving demand for NFC-enabled solutions that enable vehicle-to-device communication and integration with smart home and smart city ecosystems.
Moreover, advancements in NFC technology, such as improved data transfer speeds, enhanced security protocols, and compatibility with a wide range of devices, are fueling innovation in the Automotive NFC Market. As automakers and consumers prioritize convenience, connectivity, and security features in vehicles, the demand for NFC-enabled solutions is expected to continue growing, presenting opportunities for NFC technology providers and automotive manufacturers to collaborate and develop innovative solutions that enhance the driving experience and meet the evolving needs of consumers.
Key Takeaways
- The market for automotive NFC is expected to grow exceptionally in the upcoming years as a result of the increasing adoption of the Internet of Things (IoT), facial recognition, machine learning, big data, and other technologies for updating the specifics of the automotive industry.
- The market size is expected to increase as a result of the incorporation of contemporary technologies into cars. By providing the business with opportunities for growth, this is made possible. The quantity of Electronic Control Units (ECUs) per vehicle has increased as a result of such market leaders’ initiatives.
- Calculations indicate that there are currently about 70 ECUs incorporated into advanced vehicles, and that number is projected to rise to 500 in the near future, surpassing that of a rocket or space shuttle.
- The widespread brand development in developing nations has long been recognized as a significant window of opportunity for market expansion. The French automaker revealed in June 2022 that the C3, its first mass-market vehicle, would go on sale in India on July 20, 2022. The car has a 10-inch touchscreen infotainment system with Android Auto and Apple CarPlay as standard equipment, as well as a digital driver’s monitor. During the forecast period, it is anticipated that such efforts will have a favourable effect on NFC demand. strengthening the market for vehicle NFC as a result.
Competitive Landscape
Prominent players in the global automotive NFC market are focusing on introducing new platforms in order to accelerate their introduction of digital car keys. This offers consumers keyless access through their mobile devices. Such supportive factors are expected to benefit the industry’s growth in the coming years.
Key Companies Profiled
Sony Corporation, NXP Semiconductors N.V., Broadcom Inc., Samsung Electronics Co. Ltd., STMicroelectronics N.V., Panasonic Corporation, Alpine Electronics Inc., Avery Dennison, PREMO S.A.
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Key Segments Profiled in the Global Automotive NFC Market Report
Automotive NFC Market by Type:
- 106 Kbit/S Automotive NFC
- 212 Kbit/S Automotive NFC
- 424 Kbit/S Automotive NFC
Automotive NFC Market by Vehicle Type:
- Automotive NFC for Passenger Cars
- Compact
- Mid-Size
- Premium
- Luxury
- SUV
- Automotive NFC for Light Commercial Vehicles (LCV)
- Automotive NFC for Heavy Commercial Vehicles (HCV)
Automotive NFC Market by Application:
- On Board Automotive NFC Units
- Automotive NFC for Car Keys
- Automotive NFC for Other Applications
Automotive NFC Market by Sales Channel:
- Automotive NFC Sales via Aftermarket
- Automotive NFC Sales via OEMs
Automotive NFC Market by Region:
- North America Automotive NFC Market
- Latin America Automotive NFC Market
- Europe Automotive NFC Market
- Asia Pacific Automotive NFC Market
- Middle East & Africa Automotive NFC Market
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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