Global Automotive Near Field Communication (NFC) Market – Industry Trends and Forecast to 2029

Global Automotive Near Field Communication (NFC) Market Analysis and Size

In recent year, the market for automotive near field communication (NFC) is expected to grow rapidly during the forecast period. The automotive NFC market facilitates device pairing with the car by allowing it to be done with a single tap and in a matter of seconds. Passengers or the car's driver can then use it to customize the in-vehicle environment, including radio controls, air conditioning, and music system, among other things, according to their preferences. NFC is projected to be very useful in new concepts like car rental, carpooling, and corporate fleet management.

• Data Bridge Market Research analyses that the automotive near field communication (NFC) market was valued at USD 984.5 million in 2021 and is expected to reach USD 8240.80 million by 2029, registering a CAGR of 30.42% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Global Automotive Near Field Communication (NFC) Market Definition

NFC (Near Field Communication) in automobiles is a two-way communication technology that permits communication or interaction between two devices within a few centimetres of one other. It's a straightforward method of transmitting data across devices. The vehicle user can utilize NFC to customize their vehicle environment, such as changing the lighting and air conditioning.

Report Scope and Market Segmentation

Automotive Near Field Communication (NFC) Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• Rise in the advancement of automobiles

The advancement in automobiles will propel the market’s growth rate. The low-end automotive NFC industry is predicted to increase significantly in recent years. Furthermore, due to rising per capita wealth in emerging countries, demand for high-end vehicles is rapidly expanding, particularly in China and India. Furthermore, low-cost automobile manufacturers are expanding their operations in these developed and growing regions in order to provide drivers with a more connected driving experience.     

• Strict government regulations

Strict government regulation and policies will enhance the growth rate of automotive near field communication (NFC) market. The adoption of stringent regulatory requirements mandating the use of ADAS technology is likely to accelerate the adoption of NFC technology in automobiles especially in Asia Pacific region.

• Rise in the number of applications of automotive near field communication (NFC)

Air conditioning systems, infotainment systems, engine access, and ADAS communication interfaces are all part of the internal market. NFC technology is used in a variety of automobile applications, ranging from luxury vehicles to low-cost vehicles. NFC technology not only simplifies the process of establishing communication, but it also cuts down on total response time and processing cycles.

Furthermore, rising urbanization, and increasing level of disposable income will drive market value growth. Another significant factor influencing the market’s growth rate is the increase in proliferation of internet of things (IoT) in cars.

Opportunities

• Rise in vehicle penetration

Due to rising vehicle penetration and end-user preference for having a smart communication system installed in the automotive vehicle, demand for automotive NFC is likely to rise in the future years. Automotive NFC use is strongly dependent on global automotive manufacturing and new vehicle sales. Along with this, the surging technological advancement will boost new market opportunities for the market’s growth rate.

Moreover, rise in strategic collaborations and emerging new markets will act as market drivers and further boost beneficial opportunities for the market’s growth rate.

Restraints/ Challenges Global Automotive Near Field Communication (NFC) Market

• High cost of automotive near field communication (NFC)

The high cost associated with installation as well as manufacturing of automotive near field communication (NFC) will obstruct the market’s growth rate.

On the other hand, technical limitations and the dearth of awareness will hinder the automotive near field communication (NFC) market growth rate. The negative impact of COVID-19 outbreak on supply chain will act as market restraint and further challenge the market growth rate.    

This automotive near field communication (NFC) market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the automotive near field communication (NFC) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Automotive Near Field Communication (NFC) Market

Since its emergence in December 2019, the COVID-19 virus has spread to nearly every country on the planet, prompting the World Health Organization (WHO) to declare it a public health emergency. The COVID-19 outbreak has had a severe influence on the global automotive NFC market. New projects around the world have come to a halt, resulting in a drop in demand for analogue semiconductors. As a result of workers staying at home, worldwide manufacturing have struggled to integrate new automobile NFCs, disrupting global supply chains.

This COVID-19 lockdown encouraged the enterprises to consider more modern automotive NFCs in order to improve efficiency. COVID-19's impact on the automotive NFC market was only transitory, as the manufacture and supply chain were halted. Production, supply chains, and demand for automotive NFCs will steadily improve as the situation improves.

Global Automotive Near Field Communication (NFC) Market Scope

The automotive near field communication (NFC) market is segmented on the basis of type, vehicle type, application and industry vertical. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• 106 Kbit/S
• 212 Kbit/S
• 424 Kbit/S

On the basis of type, automotive near field communication (NFC) market is segmented into 106 Kbit/S, 212 Kbit/S and 424 Kbit/S.

Vehicle Type

• Low-End
• Mid-Range
• High-End

Based on vehicle type, the automotive near field communication (NFC) market is segmented into low-end, mid-range and high-end.

Application

• Interior
• Exterior

The automotive near field communication (NFC) market is also segmented on the basis of application into interior and exterior.

Industry Vertical

• Building and Construction
• IT and telecom
• Healthcare
• Aerospace and Defense
• Industrial
• Others

Based on industry vertical, the automotive near field communication (NFC) market is segmented into building and construction, IT and telecom, healthcare, aerospace and defense, industrial, and others.

Automotive Near Field Communication (NFC) Market Regional Analysis/Insights

The automotive near field communication (NFC) market is analysed and market size insights and trends are provided by country, type, vehicle type, application and industry vertical as referenced above.

The countries covered in the automotive near field communication (NFC) market report are U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Switzerland, Netherlands, Russia, Turkey, Belgium, Rest of Europe, Japan, China, South Korea, India, Australia & New Zealand, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific, South Africa, Israel, U.A.E., Saudi Arabia, Egypt, Rest of Middle East and Africa, Brazil, Argentina and Rest of South America.

Europe dominates the automotive near field communication (NFC) market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the rising number of government regulations mandating the use of ADAS in this region.  Additionally, the increase in proliferation of internet of things (IoT) in cars will propel the market’s growth rate in this region.

Asia-Pacific on the other hand is projected to exhibit the highest growth rate during the forecast period of 2022 to 2029 due to the growing government regulations mandating the use of ADAS in this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Automotive Near Field Communication (NFC) Market Share Analysis

The automotive near field communication (NFC) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to automotive near field communication (NFC) market.

Some of the major players operating in the automotive near field communication (NFC) market are:

• Broadcom (US)
• 3M (US)
• Texas Instruments Incorporated (US)
• Telit (UK)
• STMicroelectronics (Switzerland)
• Sony Corporation (Japan)
• AVERY DENNISON CORPORATION (US)
• SAMSUNG (South Korea)
• Panasonic Corporation (Japan)
• Alpine Electronics Inc. (Japan)
• NXP Semiconductors (Netherlands)
• Polaris Industries, Inc (US)
• FeliCa Networks, Inc (Japan)
• CCL Industries (Canada)
• LINTEC Corporation (Japan)
• Robert Bosch GmbH (Germany)
• Telefonaktiebolaget LM Ericsson (Sweden)     

Research Methodology : Global Automotive Near Field Communication (NFC) Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The stage includes the obtainment of market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis.

To know more about the research methodology, drop in an inquiry to speak to our industry experts 

https://www.databridgemarketresearch.com/speak-to-analyst/?dbmr=global-automotive-nfc-market

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