The global automotive NFC market share 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.
Automotive radar, NFC (Near Field Communication), cellular connectivity, and wireless power are now integrated into the mid- and high-end automobile due to the constantly changing world and technological advancement in the field of communication becoming more connected. The modern automobile is more than just a mode of transportation because it is now equipped with different communication devices and interfaces.
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Near Field Communication (NFC) in automobiles is essentially a short-range, bidirectional communication technology that provides for a few centimetres of interaction distance at a specific data transfer rate. Automotive NFC is a set of communication protocols that enables two electronic devices to establish communication by coming close to one that is fixed to the part and the other, typically one of which is a portable device like a smartphone.
RFID, a subset of NFC, seems to have uses beyond mobile phones and into the automotive industry. This could be viewed as a differentiator for many brand-new in-car features for consumers and could also make the current in-car features simpler. The NFC protocol stack is implemented by the runtime software known as near-field communication stack for a car.
Along with the release of the Nio ES7 in June 2022, another electric vehicle was also unveiled. The vehicle supports smart keys, smart cards, and alternative vehicle entry methods like NFC. These initiatives are anticipated to benefit the market during the forecasted timeframe.
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.
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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
More Insights into the Automotive NFC Market
The European region is anticipated to dominate the global NFC market over the projection period. The growth of this market is attributed to the presence of key OEMs in the region along with the massive production of vehicles in the region. Furthermore, the presence of high-tech infotainment systems in Europe like Robert Bosch GmbH is anticipated to drive the regional market in the forecast period.
According to the analysis, the Asia Pacific (APAC) region is expected to showcase promising growth opportunities over the assessment period. The growth in the APAC region is attributed to the presence of developing nations that have various untapped markets. Besides, the surging disposable income owing to the rapid economic development along with the ongoing development in the automobile sector is expected to widen the market size in the coming time.
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