January 24, 2021

NFC

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Nov 26, 2020 (Market Insight Reports) —
Delaware, U.S. – According to the latest research study by GMI, the global Automotive NFC market is expected to record 30% CAGR during the forecast period 2020-2025.

Innovative products introduced have driven global automotive NFC market trends over the past few years. Owing to low energy requirements, the novel NFC technology can be easily embedded in vehicles, that is transforming the automobiles from interiors to exteriors. Automakers globally are installing electronic smart key technologies in their cars to modernize their automobiles which will complement the industry share.

A major factor supporting developments in the market include the increasing demand for personalization in luxury cars. With the growing use of internet services in both developed as well as developing economies, the demand from the customers are also witnessing a change. The customers need advanced yet customized features in their vehicles that best fit their tastes. They are looking for vital information like notification regarding traffic delays, weather forecast, route signaling as well as customizing their radio channels.

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Some of the leading automotive NFC solution providers include Texas Instrument, Indie Semiconductors, Samsung, NXP Semiconductors, Sony, and Qualcomm among numerous others. As per reports, global automotive NFC market size could amass USD 6 billion in total annual remuneration by 2025.

Mentioned below are some of the integral factors expected to impact the industry share in the near future.

Connecting automotive NFC with smartphones

The world has witnessed an evident increase in the penetration of smartphones. Leading vehicle producers are allowing smartphones to communicate with in-car infotainment systems through NFC technology. This permits them to offer an enhanced driving experience along with access to various in-car applications that range from door to engine access t vehicle navigation mechanisms.

Additionally, the wide use of Advanced Driving Assistance Systems and IoT in automobiles has complemented the need for improved wireless technology for in-car communication. In April 2019, Audi designed a mobile application that eliminates the need for a transporter key. Through the Audi Connect Key application which is available on Huawei P30 and other leading Android smartphones with NFC technology, one may unlock certain Audi variants such as its electronic vehicle offering, A6, A7, and A8 simply by holding the phone near the door lock.

Deployment in auto interior applications

With respect to the application spectrum, the use of automotive NFC in interior applications has gained enormous growth over the years due to the need for an economical, reliable, and precise wireless communication solution. During the year 2018, the interior application segment was responsible for nearly 70% of the total market share.

NFC when used in the interiors of the vehicles helps in reducing the response time, eases the pairing mechanism, and also offers precise communication between the end devices. The ability to easily connect with smartphones and low power consuming abilities makes NFC a perfect

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ALBANY, N.Y., Nov. 25, 2020 /PRNewswire/ — NFC refers to near field communication, which is considered as one of the latest developments in the short-range wireless connectivity technology. In past few years, there is remarkable development in the NFC technology. As a result, there is extensive increase in the use of NFC chips in various end-use industries such as automotive, consumer electronics, medical, aviation, and retail. This scenario is likely to boost the growth of the global NFC chips market during the assessment period 2020–2030.

Analysts at TMR note that the global NFC chips market will show growth at promising of CAGR of 7.5% during the assessment period 2020–2030. This growth is on the back of plethora of factors. The market is experiencing remarkable growth in demand for NFC chips from finance and payment sector as well as automotive sector. Growing focus of many vendors working in the NFC chips market toward technological advancements is foreseen to help in the expansion of this market during forecast period of 2020 to 2030.

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Key Findings of NFC Chips Market Report

  • The global NFC chips market is estimated to grow at 7.5% CAGR during the forecast period of 2020 to 2030.
  • The market is predicted to surpass the valuation of approximately US$ 5.6 Bn by 2030 end.
  • Europe and North America markets for NFC chips are likely to experience prominent expansion opportunities in the forthcoming period.

Explore 164 pages of top-notch research, incisive insights, and detailed country-level projections on NFC Chips Market (Product Application: Smartphone, Television, Medical Equipment, Cars, and Others; Storage Capacity: 64 Bytes, 168 Bytes, 180 Bytes, 540 Bytes, and Others; and End User: Consumer Electronics, Automotive, Retail, Medical, Aviation, and Others) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030 at https://www.transparencymarketresearch.com/nfc-chips-market.html

NFC Chips Market: Key Driving Factors and Promising Avenues

  • NFC chips are gaining traction across numerous end-use industries owing to their ability to simplify the user interfaces. Owing to this factor, there is remarkable increase in the use of NFC chips in a wide range of consumer products.
  • NFC chips are in high demand from smartphone manufacturing companies, including Samsung and Apple. This factor is predicted to generate promising expansion opportunities in the NFC chips market in the assessment period of 2020 to 2030.
  • In recent period, there is remarkable increase in the use of NFC chips across numerous security systems for communication purpose. Key reason behind this trend is the ability of NFC chips to offer safer services than that of other alike technologies such as Wi-Fi and Bluetooth. This factor is forecasted to fuel the expansion of the global NFC chips market in the forthcoming years.
  • Aside From smartphones, NFC chips find application in a wide range of consumer electronic goods including televisions, speakers, refrigerators, washing machines, and cameras. Main function of NFC chips in these devices is offer contactless data transfer. Thus, increased demand for all these products is estimated to generate prodigious sales opportunities in the
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