Global Automotive NFC Market Recent Study Including Growth Factors CAGR of 30 %

Posted by swamiv on October 31st, 2019

Global automotive NFC market By Type (106 Kbit/S, 212 Kbit/S, 424 Kbit/S), Vehicle Type (Low-End, Mid-Range, High-End), Application (Interior, Exterior)

Market Analysis: Global Automotive NFC Market

Global automotive NFC market is growing at a healthy CAGR of 30% during the forecast period of 2019 to 2026 due to increasing number of government regulations mandating the use of Advanced Driving Assistance Systems (ADAS).

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Competitive Analysis:

Global automotive NFC market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of global automotive NFC market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

Market Definition: Global Automotive NFC Market

Automotive NFC is a collection of communication procedures that allows two electronic devices, generally one of which is a mobile device such as a smartphone, to create communication by carrying them to the portion within the brief range of the other. Automotive NFC (Near Field Communication) is basically a bidirectional short-range communication technology that allows interaction at a specified speed of a few centimeters of information transfer.

Market Drivers

  •          The growing amount of public legislation requiring the use of Advanced Driving Assistance Systems (ADAS) has influenced the automotive use of NFC technology which is driving the market
  •          The NFC systems provide a cost-effective, secure and effective solution to all the data transmission requirements of vehicle intelligent driving apps which is fueling market growth
  •          NFC technology apps lead to elevated adoption rates, thus driving market growth
  •          Increasing demand for developed and improved safety systems for vehicles drives the market growth

Market Restraints

  •          High cost for the installation which restraints the market
  •          Low adoption rate in developing economic countries is hampering the market growth
  •          High cost of manufacturing is one of the restraining factor

Segmentation: Global Automotive NFC Market

By Type

  •          106 Kbit/S
  •          212 Kbit/S
  •          424 Kbit/S

By Vehicle Type

  •          Low-End
  •          Mid-Range
  •          High-End

By Application

  •          Interior
  •          Exterior

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