Automotive NFC Market Size

Automotive NFC Market Size

Automotive NFC Market size crossed USD 700 million in 2018 and is anticipated to grow at a CAGR of more than 30% from 2019 to 2025.

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The increasing number of government regulations mandating the use of Advanced Driving Assistance Systems (ADAS) has been influencing the usage of NFC technology in automobiles. The ADAS systems include features such as autonomous emergency braking system, electronic stability control, lane departure warning, anti-lock brakes, and adaptive cruise control. These smart driving features generate high amounts of high definition data through LiDAR devices & cameras fitted to scan the external environment. This high-definition data needs to be transmitted & processed in real-time to drive the need for high-speed communication technologies. The NFC devices provide a cost-effective, safe, and efficient alternative for all the data transmission needs of smart driving applications in vehicles, spurring the growth of the automotive NFC market.

In the past decade, smartphones have been used for conducting various activities remotely ranging from conducting financial transactions across retail outlets to managing & controlling various household smart devices. The presence of various in-built connectivity technologies such as NFC, Bluetooth, and Wi-Fi have allowed smartphones to provide a connected experience for users. The automotive industry has also been leveraging on smartphones’ communication capabilities to provide drivers with a personalized & seamless driving experience. The automotive manufacturers are using NFC tags and readers pre-installed in smartphones to configure & customize the in-car accessories, such as infotainment systems and air condition systems, to provide access to their cars and its ignition systems