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Automotive NFC market outlook through 2026 | 3 factors influencing global industry growth

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Nov 26, 2020 (Market Insight Reports) —
Delaware, U.S. – According to the latest research study by GMI, the global Automotive NFC market is expected to record 30% CAGR during the forecast period 2020-2025.

Innovative products introduced have driven global automotive NFC market trends over the past few years. Owing to low energy requirements, the novel NFC technology can be easily embedded in vehicles, that is transforming the automobiles from interiors to exteriors. Automakers globally are installing electronic smart key technologies in their cars to modernize their automobiles which will complement the industry share.

A major factor supporting developments in the market include the increasing demand for personalization in luxury cars. With the growing use of internet services in both developed as well as developing economies, the demand from the customers are also witnessing a change. The customers need advanced yet customized features in their vehicles that best fit their tastes. They are looking for vital information like notification regarding traffic delays, weather forecast, route signaling as well as customizing their radio channels.

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Some of the leading automotive NFC solution providers include Texas Instrument, Indie Semiconductors, Samsung, NXP Semiconductors, Sony, and Qualcomm among numerous others. As per reports, global automotive NFC market size could amass USD 6 billion in total annual remuneration by 2025.

Mentioned below are some of the integral factors expected to impact the industry share in the near future.

Connecting automotive NFC with smartphones

The world has witnessed an evident increase in the penetration of smartphones. Leading vehicle producers are allowing smartphones to communicate with in-car infotainment systems through NFC technology. This permits them to offer an enhanced driving experience along with access to various in-car applications that range from door to engine access t vehicle navigation mechanisms.

Additionally, the wide use of Advanced Driving Assistance Systems and IoT in automobiles has complemented the need for improved wireless technology for in-car communication. In April 2019, Audi designed a mobile application that eliminates the need for a transporter key. Through the Audi Connect Key application which is available on Huawei P30 and other leading Android smartphones with NFC technology, one may unlock certain Audi variants such as its electronic vehicle offering, A6, A7, and A8 simply by holding the phone near the door lock.

Deployment in auto interior applications

With respect to the application spectrum, the use of automotive NFC in interior applications has gained enormous growth over the years due to the need for an economical, reliable, and precise wireless communication solution. During the year 2018, the interior application segment was responsible for nearly 70% of the total market share.

NFC when used in the interiors of the vehicles helps in reducing the response time, eases the pairing mechanism, and also offers precise communication between the end devices. The ability to easily connect with smartphones and low power consuming abilities makes NFC a perfect for in-vehicle communication technologies.

Europe as a key component market

Europe was responsible for more than 35% of the total automotive NFC market share in the past years. The market has witnessed considerable growth due to the high sales volume of cars. In the year 2018, Europe held over a 37% share in global passenger sales.

There is a dominance of various leading automotive brands in the region like Mercedes- Benz, BMW, Volkswagen, Audi, and Fiat, among numerous component manufacturers and technology firms. These vehicle producers are closely working with semiconductor solution providers to combine their NFC parts into the cars.

High-end vehicles were responsible for more than 50% of the total automotive NFC market share during the year 2018. Surging use of in-vehicle infotainment systems coupled with the combination of in-car applications and navigation systems is magnifying the growth prospects in the market. Additionally, the rising need for personalized driving experience among the customers is complementing the market.

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Partial Chapter of the Table of Content

Chapter 5Automotive NFC Market, By Type

5.1 Key trends, by type

5.2 106 Kbit/S

5.2.1 Market estimates and forecast, 2015-2025

5.3 212 Kbit/S

5.2.1 Market estimates and forecast, 2015-2025

5.4 424 Kbit/S

5.4.1 Market estimates and forecast, 2015-2025

Chapter 6Automotive NFC Market, By Vehicle Type

6.1 Key trends, by vehicle type

6.2 Low-end

6.2.1 Market estimates and forecast, 2015-2025

6.3 Mid-range

6.3.1 Market estimates and forecast, 2015-2025

6.4 High-end

6.4.1 Market estimates and forecast, 2015-2025

Chapter 7Automotive NFC Market, By Application

7.1 Key trends, by application

7.2 Interior

7.2.1 Market estimates and forecast, 2015-2025

7.3 Exterior

7.3.1 Market estimates and forecast, 2015-2025

Browse full table of contents (TOC) of this report @ https://www.gminsights.com/toc/detail/automotive-nfc-market

This Press Release has been written with the intention of providing accurate market information which will enable our readers to make informed strategic investment decisions. If you notice any problem with this content, please feel free to reach us on [email protected]

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The MarketWatch News Department was not involved in the creation of this content.

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