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Technavio’s market research report predicts that the global automotive near field communication system market will grow at a stupendous CAGR of above 70% during the forecast period. One of the primary drivers of the market’s growth is the rising acceptance of NFC-enabled mobile phones for different applications across the industry verticals. NFC technology allows transactions to be made by connecting the NFC-enabled smartphones at NFC-ready POS terminals, thus eliminating the need to carry cards for different purposes. The transactions will be quicker compared to the conventional cash or card payment methods. Furthermore, with the development of smart posters individuals will be able to obtain information about products and services by scanning it using NFC-enabled devices. Also, the automotive NFC systems are also gaining huge popularity in the automotive industry where the pairing of phones with in-vehicle systems can be done and further enhancing the user experience and driving the market’s growth in the forecast period.
One of the latest trends that will gain traction in the global automotive near field communication system market is the emergence and rapid growth in mobility business, services, and solutions. Like the smartphone’s wide popularity, the automotive industry has been evolving with mobility businesses, vehicle sharing businesses and has been witnessing the entry of numerous market participants. These market participants are mobility business providers, mobility service providers, and mobility solution providers, whose businesses are mainly enabled through smartphones. Moreover, the growth drivers for these mobility services will add to the growth of the automotive NFC systems.
With the technological advancements modernizing applications in the automobile industry, the value chain contributors are bound to widen and branch out with respect to the player’s categories. Chip manufacturers to software providers, cyber security players, hardware providers, technology solutions providers, newer business players with distinct business models are some of the contributors for the market. Moreover, in order to develop strong, secure, adaptable solutions, partnerships remain as the prime factor for developing business models and make NFC technology a commercial successful one adding to the growth of the market.
Key vendors in the market are:
Other prominent vendors include ALPS ELECTRIC, Atmel, C2G logic, Convadis, DENSO, HELLA, Huf Hülsbeck & Fürst, INVERS, Marquardt, Miveo Car-Sharing Technologies, OMRON, OTA keys, Safran Identity & Security, Tapkey, Tapkey, and Zemtu.
During 2016, North America led the global automotive near field communication system market and is expected to continue the lead in the next four years. The US holds the maximum number of R&D projects in the advanced sensing technologies field and was also the first country to introduce the legislation to authorize the testing of automated vehicles complementing the market growth in the region.
An infotainment system on a car is much more expensive than an application available on a smartphone. Therefore, automotive manufacturers, are joining hands with automotive infotainment and OS developers and are majorly investing on designing and developing voice recognition software, navigation systems, and platforms. Most of these features are either preinstalled on smartphones or can be downloaded easily. Thus, this poses as a challenge for the smartphone-based applications like NFC-based applications in automobiles to keep up with the smartphone market by proving all the features.
This report provides a number of factors contributing to the adoption, limitations, and opportunities of the global automotive near field communication system market. It also offers an analysis of each factor and an estimation of the extent to which the factors are likely to impact the overall market growth.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Geographical segmentation
PART 07: Market drivers
PART 08: Market challenges
PART 09: Market trends
PART 10: Vendor landscape
PART 11: Key vendor analysis
PART 12: Appendix
Tags: car electronics, nfc technology, car electronics, auto accessories, automotive market research report,
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