Bridge Market Research data analyzes that the Near Field Automotive Communications (NFC) Market is valued at US$984.5 million in 2021 and is projected to reach US$8,240.80 million by 2029, with a CAGR of 30.42% over the forecast period 2022 to 2029, reports Market research curated by Data Bridge's market research team, including in-depth expert analysis, import/export analysis, price analysis, production consumption analysis, and pest analysis.
NFC is expected to be very useful in new concepts such as car rental, shared travel and enterprise fleet management.
Over the past year, the Automotive Near Field Communication Market is expected to grow rapidly during the forecast period. The automotive market NFC makes it easy to pair a device with a car, which can be done with one touch and in seconds.
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.
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Automotive NFC Market Report Scope and Market Segmentation
|
Report Metric |
Details |
|
Forecast Period |
2022 to 2029 |
|
Base Year |
2021 |
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Historic Years |
2020 (Customizable to 2019 - 2014) |
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Quantitative Units |
Revenue in USD Billion, Volumes in Units, Pricing in USD |
NFC Market Market Dynamics
Drivers
· Rise in the advancement of automobiles
· Strict government regulations
· Rise in the number of applications of automotive near field communication (NFC)
Opportunities
· Rise in vehicle penetration
Restraints/ Challenges Near Field Communication Market
The high costs associated with the installation and production of automotive short-range communications (NFC) will hold back the market's growth rate.
On the other hand, technical limitations and lack of awareness will hinder the growth of the short distance road communication (NFC) market. The negative impact of the COVID-19 outbreak on the supply chain will act as a market constraint and further propel the growth of the market.
COVID-19 Impact on Near Field Communication Automotive Market
Since its appearance in December 2019, the COVID-19 virus has spread to almost every country in the world, prompting the World Health Organization (WHO) to declare it a public health emergency. The outbreak of COVID-19 has had a major impact on the global NFC car market.
NFC Automotive Market Scope
· Type
· Vehicle Type
· Application
· Industry Vertical
NFC Automotive Regional Analysis/Insights
The Near Field Automotive Communications (NFC) market is analyzed providing insights and trends for market size by country, type, vehicle type, application and industry vertical as detailed above.
The countries covered by the Near Field Communication (NFC) market report are United States, Canada, Mexico, Germany, France, United Kingdom, Italy, Spain, Switzerland, Netherlands, Russia, Turkey, Belgium and the rest of Europe, Japan, China, Korea South, India, Australia and New Zealand, Singapore, Thailand, Malaysia, Indonesia, Philippines, other Asia Pacific, South Africa, Israel, UAE, Saudi Arabia, Egypt, Egypt, rest of the Middle East and Africa, Brazil, Argentina and South America other.
Competitive Landscape and Near Field Communication Market Share Analysis
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)
Research Methodology : Automotive NFC Market
The main research methodology used by the DBMR research team is data triangulation, which includes data extraction, analysis of the impact of data variables on the market, and primary (expert) validation.
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Major TOC of The Automotive NFC Market
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