/ ACCESSWIRE / February 23, 2023 / NEWARK, DE / ACCESSWIRE / February 23, 2023 / 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 continuously changing world and the technological enhancement in the field of communication becoming more connected thereby creating the need to boost the technology in an automobile at a faster pace- automotive radar, NFC (Near Field Communication), cellular connectivity, and wireless power are now integrated into the mid and high-end automobile. The automobile is no longer just a means of transportation but has been embedded with various communication interfaces and devices.
Request a Sample of this Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-8465
Automotive NFC (Near Field Communication) is basically a short range bidirectional communication technology which allows interaction distance of few centimetres at a specified data transfer rate. Automotive NFC is a set of communication practice that allows two electronic equipment, among which is usually one is a portable device such as a smartphone, to establish communication by bringing them within the short distance of other which is fixed to the part.
A subset of NFC, RFID appears to expand beyond mobile phones to automobile applications. This can be seen as a differentiating factor for many new in-car functions for the customers and also can simplify the existing in-car functions. Near-field communication stack for an automobile is a runtime software which implements the NFC protocol stack.
Nio ES7 introduced another electric Vehicle in June 2022 along with the introduction of ES7. Smart keys and cards as well as other alternative vehicle access ways, such as NFC, are supported by the vehicle. During the forecast period, these efforts are anticipated to help the market.
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 favorable effect on NFC demand. strengthening the market for vehicle NFC as a result.
Request for Customization: https://www.futuremarketinsights.com/customization-available/rep-gb-8465
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.
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.
Ask the Analyst:
https://www.futuremarketinsights.com/ask-question/rep-gb-8465
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
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
For more information:
https://www.futuremarketinsights.com/reports/automotive-nfc-market
Explore FMI's Comprehensive Coverage of the Automotive Landscape
Automotive Turbochargers Market Size : is expected to surpass US$ 35.4 Billion in the next decade. Between 2023 and 2033, the market has been forecast to register a 9.5% CAGR.
Automotive ECU Market Share : expand from US$ 14.4 Billion in 2023 to US$ 22.8 Billion by 2033.
Two Wheeler Aftermarket Components & Consumables Market Demand : is expected to register a CAGR of 8.0% during the forecast period.
Ultra-High Performance (UHP) Tire Market Growth : forecasts the market value to top US$ 29.32 Bn in 2031.
Two Wheeler Accessories Aftermarket Outlook : is expected to reach US$ 41.07 Billion by 2032.
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
LinkedIn| Twitter| Blogs | YouTube
For Sales Enquiries: [email protected]
SOURCE: Future Market Insights Inc.