Automotive NFC Market Forecasts Report 2024-2029: Growing Prevalence of Automotive Theft Propelling Demand for Smart Key Access [Yahoo! Finance]
NXP Semiconductors N.V. (NXPI)
Last nxp semiconductors n.v. earnings: 4/27 05:00 pm
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Source: Yahoo! Finance
The automotive NFC market is expected to grow from US$6.420 billion in 2024 to US$12.954 billion in 2029 at a CAGR of 15.07%. Various automotive manufacturers are investing in small communications platforms that provide an additional key backup for the user. Likewise, the increase in automotive theft prevalence has also stimulated the demand for near-field communications since it assists in retrieving information relating to the vehicle's theft status. However, the limited coverage range and slow data transfer speed compared to other wireless technologies are some of the major drawbacks of NFC, which are expected to hamper the overall market expansion. Automotive NFC Market Drivers: The growing prevalence of automotive theft is propelling the need for smart key access. NFC provides an intuitive connection between a vehicle and an end-user, granting them secure contactless access. Hence, the digital key has provided a breakthrough in smart key development, adding an extra laye
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News
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NXPI
Earnings
- 11/4/24 - Beat
NXPI
Sec Filings
- 12/17/24 - Form 8-K
- 11/26/24 - Form 4/A
- 11/22/24 - Form 8-K
- NXPI's page on the SEC website