Selbyville, Delaware, May 23, 2019 (GLOBE NEWSWIRE) --
The automotive NFC market is anticipated to hike from USD 700 million in 2018 to around USD 6000 million by 2025, according to a 2019 Global Market Insights, Inc. report. Technological advancements in the connected car landscape coupled with the ever-rising need for saving time and maximizing productivity are driving the penetration of IoT technology in the automotive market. The cars are being incorporated with IoT applications such as in-vehicle infotainment systems, predictive maintenance systems, and dashboard reporting. The introduction of these next-gen IoT systems in automobiles has been promoting the use of high-speed communication technologies that can offer faster data rates, response times, and secure vehicular communication.
The NFC technology establishes a safe & secure communication channel when transferring data among the automotive components while preventing any unauthorized access from external sources. Another factor that has acted as a catalyst for the adoption of the technology over its contemporary peers, such as Bluetooth and Wi-Fi, is its faster connection establishment and response times. The automakers are leveraging on this attribute to provide simple “tap and go” functionality for features, such as car access and engine ignition, further supplementing the growth of the automotive NFC market.
Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/398
The 424 Kbit/S type NFC components accounted for 60% share in the automotive NFC market, which is attributed to the growing use of various multi-media-based devices such as video players and rear-view cameras in automobiles. The automotive landscape has been gradually shifting toward the 424 Kbit/S due to the influx of highly interconnected automotive components. These products are fully compliant with the requirement for fast & highly secure data transmission and flexible infrastructure. The 424 Kbit/S products adhere to all the open global standards for air interface & cryptographic methods, making it a safe & highly reliable alternative for OEMs and automotive players to enhance their product performance without compromising on safety and security of the data being transmitted.
The high-end vehicles in the automotive NFC market will register a growth rate of more than 31% over the forecast timeline. The rising incorporation of smart driving applications into various high-end passenger cars is rapidly transforming the automobile landscape by improving security and enhancing driver experience. The use of NFC technology has been a key part in augmenting the driver experience, bringing personalized entertainment and connected infrastructure in the car environment in a safe & easy-to-use manner. The automotive suppliers and car manufacturers are forming tie-ups with prominent automakers to develop customized NFC solutions for their automobiles.
Browse key industry insights spread across 200 pages with 204 market data tables & 31 figures & charts from the report, “Automotive NFC Market Size By Type (106 Kbit/S, 212 Kbit/S, 424 Kbit/S) By Vehicle Type (Low-End, Mid-Range, High-End), By Application (Interior, Exterior), Industry Outlook, Regional Analysis (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, Australia, China, India, Japan, South Korea, Brazil, Mexico, GCC, South Africa), Application Development, Competitive Landscape & Forecast, 2019 - 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/automotive-nfc-market
The interior application held over 71% revenue share in the automotive NFC market in 2018. The interior market includes infotainment system, air-conditioning, engine access, and ADAS communication interfaces. The interior application of NFC technology is used from low-end to high-end vehicles. The NFC technology is used for various interior applications such as communication support, the interaction between a driver and car, and information retrieval. The ability of the NFC technology to simplify the pairing process is the primary factor driving its usage in the automotive landscape. Without the use of NFC technology, it requires over eight different interactions to establish the first connection between a car and a smart device. The use of NFC technology substitutes these transactions with a single transaction that only requires the NFC device to be held over an automobile’s NFC dashboard.
The North America automotive NFC market will attain a CAGR of over 32% over the projected time period due to the introduction of various road safety guidelines mandating the use of ADAS systems. The automakers in the region are incorporating advanced smart driving features into automobiles, which has generated a myriad of opportunities in the integration of NFC solutions in vehicles. The increasing number of initiatives aimed at advanced innovations in the autonomous landscape in the region coupled with a favorable regulatory landscape has further added to the growth of the market.
The players in the automotive NFC market are building partnerships with other automotive manufacturers to develop new & advanced NFC solutions for automobiles. The automakers are keen on launching NFC-based smart car solutions for their product offerings to gain an edge over their competitors.
Make an Inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/398
Browse Related Reports:
Automotive Camera Market Size By Type (Mono, Stereo, Trifocal), By Application (ADAS [Lane Departure Systems, Emergency Braking Systems, Forward Collision Warning, Others], Parking Assist), By Vehicle Type (Passenger Cars, Utility Vehicles, Commercial Vehicles), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Russia, China, India, Japan, South Korea, Brazil, Mexico, South Africa), Application Potential, Price Trend, Competitive Market Share & Forecast, 2019 – 2025
https://www.gminsights.com/industry-analysis/automotive-camera-market
Automotive Software Market Size By Software (Autonomous Driving Software, Safety & Security Software, Vehicle Management Software, Infotainment Software), By Application (Engine Management System (EMS), Anti-Lock Braking System(ABS), Air bag control, Car Navigation System, Infotainment System, Mobility Service), By Vehicle Type (Passenger Vehicle, Commercial Vehicle), By End-use (Manufacturer Retail Store, Automotive Dealer, Automotive Repair Store, Auto Part Wholesaler & Agent), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Spain, Sweden, China, Japan, India, Australia, South Korea, Brazil, Mexico, Argentina, South Africa, UAE, Saudi Arabia, Qatar, Oman), Growth Potential, Competitive Market Share & Forecast, 2019 - 2025
https://www.gminsights.com/industry-analysis/automotive-software-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.