Growing adoption of technologically advanced products by carmakers to drive automotive NFC market share through 2025
Innovative products being introduced by major companies is favoring the growth prospects of automotive NFC market. Due to low energy requirements, NFC technology can be embedded in cars, which is transforming the automobiles from interiors to exteriors. Automakers are also installing electronic smart key systems in their cars to modernize their vehicles that will augment automotive NFC market share.
Brazil Automotive NFC Market Revenue, By Type, 2018 & 2025
NFC technology in automotive sector offers intuitive interactions between humans and vehicles to fulfil the specific needs of drivers and enhancing driving experience. The major players in electronics and semiconductor sector are striving to come up with innovative ideas which can perform desirable tasks to satisfy certain demands of customers and increase remuneration of automotive NFC market.
Recently, one of the leading industry players, STMicroelectronics, made it to headlines as it presented automotive solutions for smart driving at the 11th edition of the Automotive World show in Tokyo, Japan. The company exhibited the leading-edge NFC technology in automobiles which can accelerate electrification and digitalization in autonomous driving, advanced driver assistance systems (ADAS), and power control for electric and hybrid electric vehicles. The solutions include Power Architecture®’s 32-bit microcontroller, SiC power MOSFET, acceleration sensors enabling road-noise cancellation, EEPROM and several others.
The companies like NXP and STMicroelectronics have developed pioneering technologies, which are gaining high traction among automakers manufacturing high-end vehicles. The luxury car manufacturers are focusing on deploying NFC technologies to enrich the driving experience of their customers. According to a report by Global Market Insights Inc., the high-end vehicles in the automotive NFC market will record a growth rate of over 31 percent over the timeframe of 2019-2025.
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With increasing modernization, the interiors of cars are also being installed with cutting-edge technologies. The interior application held more than 71 percent revenue share in the automotive NFC market in the year 2018. The strategies of some companies to progress in the technological domain is likely to contribute in augmenting the automotive NFC industry share in upcoming years.
For instance, NXP recently announced the acquisition of wireless connectivity portfolio of Marvell valued at $1.76 billion. The acquisition includes Marvell’s Wi-Fi Connectivity Business Unit, Bluetooth technology portfolio and related assets to upgrade technologies in vehicle interior. The acquisition will allow the company to deliver complete, scalable processing and connectivity solutions to the customers across its focus end markets. Such acquisitions are expected to create new revenue opportunities for the market players and increase automotive NFC industry size.
The involvement of luxury car manufacturers like BMW in the development of high-end automotive technologies will contribute to optimistic automotive NFC industry outlook. The BMW AG has employed NFC technology in its latest BMW 8-series to upgrade the standards for automobile manufacturers. Its intelligent features like climate seats, convenient wireless phone charging tray, display key, fuel level indicator, service-related information, digital key etc. have set high benchmarks for its competitors.
The smart key function is widely being adopted among the automobile companies to enrich experience of customers. Another instance that can be cited here is that of Hyundai Motor Company which has introduced digital keys in its all-new 2020 Sonata to mark the North American debut of its most successful and longest standing model at the New York International Auto Show. The car has been introduced with a digital key application to promote advances in technology. It allows customers to control selected vehicle systems remotely.
The driver can also leave traditional keys at home as the app also allows secure sharing of keys with family and friends. The propagation of advanced technologies is on the rise and is boosting the growth of automotive NFC market size. Moreover, the latest debut of Hyundai in North America will propel the regional growth of automotive NFC market as well. It has been anticipated that the North America automotive NFC market will attain a CAGR of over 32 percent mainly due to the presence of strict regulatory policies regarding the ADAS system.
As can be observed from the aforementioned instances, automobile manufacturers are widely embracing trailblazing technologies to expand their market share. The strategies, like collaborations and acquisitions, are being planned and executed by the companies involved in automotive NFC industry to support the adoption of new technologies, essentially providing a favorable growth environment for automotive NFC industry.
Author Name : Anchal Solanki
An outline of automotive composites market in terms of the competitive landscape: regulatory initiatives to majorly influence the industry growth
Powered by the rising concerns with regard to environmental degradability, global automotive composites market has gained a remarkable momentum over the recent years. The problem of exponentially increasing carbon dioxide emissions has been recognized as a matter of concern at a global level, in response to which, both the government as well as private entities are striving hard to combat this issue. Citing an instance with the regulatory frame of reference, The European Union (EU) has introduced norms that aim to limit the CO2 emission per vehicle to 95g/km by 2020. Reportedly, as of now, each vehicle in Europe emits approximately 133.3g/km of carbon dioxide. Yet another initiative being widely undertaken to curtail these emissions revolves around reducing the overall weight of the vehicles, subject to the fact that the lightweight automobiles depot a high fuel efficiency and a considerably lower rate of emission. The aforementioned fact can be validated by the recent trend of lightweight material adoption in the automotive sector spanning across the interior as well as exterior designs of the vehicles, that has led to a major revolution of sorts in automotive composites industry.
U.S. Automotive Composites Market, By Fiber, 2016 & 2024, (Kilo Tons)
How McLaren Automotive took a step forward toward consolidating their position in automotive composites market
The demand for composite materials is expected to rise several notches higher in the years to come, on the grounds of which various educational research institutes and renowned players of the automotive composites market have been working diligently toward the development of novel composite materials through innovative technology. For instance, the British automotive composites industry player, McLaren Automotive, has recently constructed the McLaren Composites Technology Centre (MCTC) worth GBP 50 million, at Sheffield in UK, wherein the company plans to manufacture lightweight carbon fiber with advanced manufacturing processes. MCTC is also expected to commence the production of carbon fiber tubs for its automotive wings including supercars, sports and racing cars by 2019, further impelling the regional automotive composites market share. The UK government seems to be keenly encouraging education hubs to develop trained composite engineers and scientists in a bid to tackle any future challenges that might arise ahead, with regards to composite materials, that is certain to impel the regional automotive composites industry. Say for instance, the Higher Education Funding Council for England (HEFCE) has granted a fund of GBP 200,000 to the joint projects of the University of Bristol and the University of Plymouth to carry out research related to composite materials. This precedence indeed validates that the increasing involvement of research institutes and industry giants toward enhancing the product portfolio of this business space will stimulate UK automotive composites market size.
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The impact that the Trelleborg-Automated Dynamics deal may have on automotive composites market
It is imperative to state that automotive components manufactured with composites as a raw material have a longer shelf life that ordinary components and require lesser maintenance and less frequent replacements. These components can also be used as an alternative for metal bearings, owing to their massive endurance strength and eco-friendly features, that enable them to function without lubricants. Taking into account the diversified deployment scope of composites for automotive applications, major players in automotive composites market are looking forward to strengthening their position in this business space via mergers and acquisitions. For instance, in 2018, Sealing Solution unit of Trelleborg A.B. acquired the reputed advanced composite components manufacturer, Automated Dynamics, with an aim to improve its technology portfolio using Trelleborg’s next-generation composites. It is also expected that the technological expertise that buyers would gain through strategic takeovers would leverage their presence in global automotive composites industry.
Currently, it has been observed that numerous governmental bodies, at the regional as well as international level, have been focusing on the deployment of renewable energy sources for overcoming the shortage of fossil fuel sources – a trend that is predicted to influence automotive components market. The prevalence of a strict regulatory frame of reference mandating specific norms encouraging the adoption of renewable resources will further enable the masses to incline toward electric vehicles. In consequence, this would increase the dependency on renewable energy sources in the future, which seems to be one of the pivotal strategies of the government to expedite the growth of automotive composites industry. In essence, the shifting trends toward green mobility and the elimination of carbon emissions are certain to have a considerable impact on automotive composites market outlook in the ensuing years.
Author Name : Sunil Hebbalkar