The global automotive NFC market is anticipated to grow at a significant CAGR of 12.9% during the forecast period (2022-2028). NFC is a contactless smartcard technology that establishes communication using radio waves. The global automotive NFC market is growing due to the increasing usage of technology among individuals globally. The increasing number of automotive vehicles on road and the growth in preference for having a smart communication system installed in the automotive vehicle are boosting the growth of the global automotive NFC market. Additionally, the rising demand for highly sophisticated safety and security features in vehicles with central locking and anti-theft sensors along with engine locking systems is driving the growth of the market. The supportive government initiatives for the development of infrastructure as a service-based solution are anticipated to propel the growth of the global automotive NFC market during the forecast period. Among all applications, the car keys segment is anticipated to hold the major share in the global automotive NFC market.
The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new launches, to stay competitive in the market. For instance-
- In January 2022, Huawei Technologies Co., Ltd. announced the launch of the Bluetooth and NFC-supported digital car keys in China for its AITO M5 smart car.
- In November 2021, OPPO announced that they are likely to enter the electric vehicle segment and launch their products in India by 2024.
- In June 2020, Apple Inc. announced the launch of digital car keys for wireless unlocking of the car with an iPhone or iWatch.
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Market Coverage
- The market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape– SONY ELECTRONICS INC., NXP Semiconductors, SAMSUNG ELECTRONICS CO., LTD., and Polaris Inc., among others.
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Global Automotive NFC Market Report by Segment
By Type
- 106 Kbit/s
- 212 Kbit/s
- 424 Kbit/s
By Application
- On Board Units
- Car Keys
- Other
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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