Automotive NFC Market in Asia Pacific is Expected to Grow At A CAGR of 35% by 2025 | Key Players BMW, Broadcom Inc., Continental, Daimler AG, Gemalto, MediaTek, Panasonic, Qualcomm, STMicroelectronics, Texas Instruments

The Asia Pacific Automotive NFC market will grow at a CAGR of more than 35% during the forecast timeline due to increasing sales of passenger vehicles in the emerging economies including India and China. Moreover, the large-scale adoption of smartphones in the region also acts as a major driver for the market. Additionally, the increasing semiconductor market in the region also presents myriad opportunities for the growth of the automotive NFC market.

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Driven by the growing sale of smart connected vehicles, the automotive NFC market is anticipated to register substantial revenues over 2019-2025. This demand is mainly attributed to the product features like mobile connectivity, wireless charging, voice control, smart infotainment system and more, technologies that have advanced significantly owing to the integration of Near-field Communication (NFC) system. In relation to standard Bluetooth technology, NFC consumes less amount of energy. Its low range connectivity feature allows pairing close proximity devices with greater ease. This feature is becoming increasingly important across crowded areas where there is a high possibility of interference caused by other connected devices.

The key players covered in this study: -

1. BMW
2. Broadcom Inc.
3. Continental
4. Daimler AG
5. Ford Motor Company
6. Gemalto
7. General Motors
8. Infineon Technologies
9. MediaTek
10. NXP Semiconductors
11. Panasonic
12. Premo Group
13. Qualcomm
14. Renesas Electronics
15. Samsung Semiconductor
16. Smartrac Technology
17. Sony
18. Texas Instruments

With advanced features like wireless locking/unlocking of doors, easily pairing with infotainment system and mobile engine starting, NFC based solutions have offered enhanced flexibility and access to drivers. It has also opened new possibilities in the car sharing market, allowing companies to enable boarders’ smartphone to unlock and start their rental car using NFC.

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Additionally, the rising sales of high-end luxury vehicles have proved to be specifically beneficial for the automotive NFC market, over the past couple of years. For instance, in 2018, German auto giant BMW launched its new 4th generation BMW X5 SUV and 8 Series Coupe which was the first to be equipped with BMW Digital Key option that allows locking/unlocking of vehicle as well as enables keyless engine start using NFC enabled smartphone.

The high-end vehicles held over 50% share in the automotive NFC market in 2018. The increasing adoption of in-vehicle infotainment systems along with the integration of navigation and in-car applications is accelerating the growth of the market. Moreover, the growing demand for personalized driving experience among customers is supporting the automotive NFC market.

On the other hand, mid-range vehicles are projected to attain a CAGR of over 37% during the forecast time period. Advancements in the semiconductor technology and growing supportive initiatives by the government to promote the integration of ADAS components into vehicles are guiding the automotive NFC market growth.

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NFC technology has enabled a multitude of advanced in-vehicle functions in today’s automotive industry. It has been commonly used for pairing user devices for enabling communication between the users and their vehicles for information retrieval and car key access based on NFC interface. With growing product adoption, the global automotive NFC market is likely to exceed USD 6 billion by 2025.

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