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 steady growth driven by several factors, including the increasing integration of NFC technology in vehicles, rising demand for connected car features, and advancements in automotive infotainment systems. NFC technology enables short-range wireless communication between electronic devices, allowing for seamless interaction and data exchange, which is particularly useful in automotive applications for vehicle connectivity, access control, and secure transactions.
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One of the primary drivers of this market is the growing integration of NFC technology in modern vehicles. Automakers are increasingly incorporating NFC-enabled components and systems into their vehicles to enable a wide range of functionalities, including keyless entry, smartphone pairing, mobile payments, and personalized vehicle settings. NFC technology offers convenience and security for vehicle owners, allowing them to access their vehicles, customize settings, and interact with onboard systems using their smartphones or NFC-enabled devices.
Moreover, the rising demand for connected car features and digital experiences is fueling the adoption of NFC technology in automotive applications. Consumers are seeking vehicles equipped with advanced infotainment systems, smartphone integration, and connectivity features that enhance their driving experience and enable seamless integration with their digital lifestyles. NFC technology enables features such as mobile device integration, contactless payments, and personalized user profiles, providing drivers and passengers with enhanced convenience, entertainment, and productivity while on the road.
Furthermore, advancements in automotive infotainment systems and software platforms are driving innovation in the automotive NFC market. Automakers and technology suppliers are developing NFC-enabled infotainment systems that support advanced features such as navigation, multimedia streaming, voice recognition, and smart home integration. NFC technology facilitates secure and seamless connectivity between smartphones, wearables, and in-car infotainment systems, enabling a seamless and intuitive user experience for vehicle occupants.
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
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.
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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