Press Release

Automotive NFC Market is expected to reach US$ 35 Billion by the End-2032

Automotive NFC Market

Automotive radar, NFC (Near Field Communication), cellular connectivity, and wireless power are now integrated into the mid- and high-end automobile due to the constantly changing world and technical advancement in the field of communication becoming increasingly connected. The modern automobile is more than just a mode of transportation because it is now equipped with multiple communication devices and interfaces. Near Field Communication (NFC) in automobiles is essentially a short-range, bidirectional communication technology that provides for a few centimetres of interaction distance at a specific data transfer rate.

From 2022 to 2032, the global automotive NFC market is projected to expand at a CAGR of 30.2 percent and reach US$ 35 billion. The market is anticipated to increase in value from US$ 2.5 billion in 2021 to US$ 3.26 billion in 2022. We believe that the market will benefit from the government’s expanding regulations regulating the adoption of Advanced Driving Assistance Systems (ADAS).

Automotive NFC is a set of communication protocols that enables two electronic devices to establish communication by being close to one that is fixed to the part and the other, usually one of which is a portable device like a smartphone. RFID, a subtype of NFC, seems to have applications beyond mobile phones and into the automotive industry. This might be viewed as a differentiator for many brand-new in-car features for consumers and could also make the current in-car features simpler. The NFC protocol stack is implemented by the runtime software known as near-field communication stack for an automobile.

Market Participants – 

  • Sony Corporation
  • NXP Semiconductors N.V.
  • Broadcom Inc.
  • Samsung Electronics Co. Ltd.
  • STMicroelectronics N.V.
  • Panasonic Corporation
  • Alpine Electronics Inc.
  • Smartrac N.V.
  • PREMO S.A.

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