Automotive NFC Market

Automotive NFC Market Outlook – 2027

Near-field communication is a wireless short-range technology that is installed in smartphone, tablet, wearables, payment cards and other devices for exchange of data. With the use of NFC technology, the users are able to move information between devices with a single touch in a quick and effective manner. The technology is used in exchanging business cards, paying bills, collecting coupons, or uploading a research paper. 

The automotive NFC market in automobiles simplifies device pairing with the car only on a single tap and in a few seconds. Passengers or the car's driver may then use it to configure the in-vehicle environment such as radio controls, air conditioning, and music system, among others as per the user need. NFC is expected to be of great use in emerging concepts such as car hire, carpooling, and the management of corporate fleets.

The global automotive NFC market is segmented on the basis of type, vehicle type, application, and region. Based on type, the market is divided into 106 kbit/s, 212 kbit/s, and 424 kbit/s. In terms of vehicle type, the market is categorized into low-end, mid-range, and high-end. On the basis of application, the market is divided interior and exterior. In terms of industry vertical, the automotive NFC market is segregated into building & construction, it & telecom, healthcare, aerospace & defense, industrial, and others. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, And Latin America, Middle East & Africa (LAMEA).

COVID-19 Scenario Analysis:

• Global automotive NFC market has been significantly impacted by the COVID-19 outbreak. New projects throughout the world have stalled, which, in turn, have led to decline in demand for analog semiconductors. 
• Global factories have struggled to integrate new automotive NFCs as workers have stayed in their homes, which disrupted the global supply chains. 
• The impact of COVID-19 on automotive NFC market is temporary as just the production and supply chain is stalled. Once the situation improves, production, supply chains, and demand for automotive NFCs are gradually going to increase.  
• This COVID-19 lockdown would help companies think about more advanced automotive NFCs to enhance efficiency.

Top Impacting Factors:

Demand for automotive NFC is expected to increase over the coming years due to increased vehicle penetration and growth in preference by end-users to have a smart communication system installed in the automotive vehicle. Automotive NFC consumption is highly reliant on automotive production and new sales around the globe. 

However, factors such as low adoption rates in developed economies have been seen as a constraint on the NFC automotive market's growth over the forecast period. The prevalent trends is to implement new technology appliances for advanced output will contribute towards the growth of the demand for automotive NFC market share.

Advancements in Automobile Drives the Market

Over the recent years, the low-end automotive NFC market growth is expected to grow substantially. In addition, demand for high-end vehicles is increasing at a rapid pace, particularly in countries such as China and India due to rise in per capita income in emerging countries. Furthermore, low-end car manufacturers operates in these developed and developing regions with increased efforts to provide connected experience of driving to drivers. 

Various cost-effective third-party automobile devices, such as in-car infotainment systems, support the integration of NFC technology into low-end vehicles. Furthermore, the issuance of strict government guidelines which requires the use of ADAS technology is expected to catalyze the use of NFC technology in automobiles across the Asia Pacific region.

Increased application of automotive NFCs

The internal market includes air conditioning systems, infotainment system, access to the engine and communication interfaces with ADAS. The NFC technology has its application in various components of the automotive industry, from luxury vehicles to low-end vehicles. The NFC technology simplifies the method of establishing communication it also reduces total response time and a number of processing cycles. 

The technology's inexpensive nature has helped its implementation across various segments of the automotive sector. In addition, the technology offers low-power consumption and has increased compatibility with a wide range of automotive interior accessories, promoting its use across various third-party manufacturers, OEMs, and automakers. Increase in integration of smart driving applications in passenger cars as well as commercial vehicles has rapidly evolved the automobile landscape which has enhanced driver experience and improved safety.

Using NFC technology has been a vital part which has improved driver experience, it has brought custom entertainment and connected connectivity into the car world in a safe and easy-to-use way. Global automotive NFC market players have built partnerships with other automotive manufacturers to introduce new & advanced automotive NFC solutions. The automakers are keen to launch NFC-based smart car solutions to gain an edge over their competitors for their product offerings.

Key Benefits of the Report:

• This study presents the analytical depiction of the global automotive NFC market trends along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global automotive NFC market.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the global automotive NFC market scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed global automotive NFC market analysis based on competitive intensity and how the competition will take shape in coming years. 

Questions Answered in the Automotive NFC Market Research Report:

• Which are the leading market players active in the automotive NFC market size?
• What would be the detailed impact of COVID-19 on the market?
• What current trends would influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the automotive NFC market?
• What are the projections for the future that would help in taking further strategic steps?

 Automotive NFC Market Report Highlights