As per the report published by FMI, the global automotive smart antenna market share is projected to have a rapid-paced CAGR of 12.2% during the forecast period. The current valuation of the market is US$ 3.94 Billion in 2022. The market value of automotive smart antennas is anticipated to reach a high of US$ 12.45 Billion by the year 2032. The base year recorded a valuation of US$ 3.44 Billion.
Automotive smart antennas are advanced antennas that are capable of handling multiple functions and providing a range of benefits to vehicles, such as better connectivity, improved safety features, and enhanced user experience. The global market for automotive smart antennas is expected to experience significant growth in the coming years, driven by several key factors.
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One of the main drivers of growth in the market is the increasing demand for connected cars. As the automotive industry shifts towards a more connected and autonomous future, the demand for smart antennas that can provide reliable and high-speed connectivity is expected to grow. Smart antennas can help vehicles communicate with other vehicles, infrastructure, and the internet, which is essential for enabling advanced safety features, navigation, and entertainment systems.
Another key factor driving growth in the market is the ongoing development of 5G technology. 5G is expected to provide faster and more reliable connectivity, which will be essential for supporting the advanced features and capabilities of connected and autonomous vehicles. Smart antennas will play a critical role in enabling 5G connectivity for vehicles, which is expected to further drive demand.
Key Takeaways from the Automotive Smart Antennas Market
- Asia Pacific region is projected to dominate the global automotive smart antenna market with a market valuation of US$ 4,394.07 by 2032.
- The current market valuation for automotive smart antennas stands at US$ 3.94 Billion in 2022.
- The automotive smart antenna market is anticipated to record a CAGR of 12.2% during the period 2022-2032.
- Passenger Vehicles segment is identified to be the largest adopter of automotive smart antennas.
“The rising concern about traffic congestion and the increasing demand for dashboard features are likely to create lucrative growth opportunity for the market players of the automotive smart antennas market.” – Says an FMI Analyst
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Competition Landscape in the Automotive Smart Antennas Market
The market can be described as a competitive market. The key companies have adopted several strategies to broaden their customer base worldwide. Furthermore, the manufacturers are indulging in several growth strategies with frequent innovation of smart automotive smart antennas to provide consumers with a seamless, safe, and comfortable experience.
Ace Technologies Corp., Antenova Ltd., Beijing BDStar Navigation Co. Ltd., Calearo Antenne SPA, Continental AG, Harada Industry Co. Ltd., INFAC Corp., INPAQ Technology Co. Ltd., Koch Industries Inc., Lorom Industrial Co. Ltd., LS MTRON Ltd., Panasonic Corp., Samsung Electronics Co. Ltd. are some of the key players in the market.
Key Segments Covered in the Automotive Smart Antenna Report
By Frequency:
- Ultra-High Frequency Automotive Smart Antenna
- Very High Frequency Automotive Smart Antenna
- High Frequency Automotive Smart Antenna
By Component:
- Automotive Smart Antenna
- Automotive Smart Tuner
- Automotive Smart Transceivers
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By Vehicle Type:
- Automotive Smart Antenna for Passenger Cars
- Automotive Smart Antenna for Light Commercial Vehicles
- Automotive Smart Antenna for Heavy Commercial Vehicles
- Automotive Smart Antenna for Battery Electric Vehicles
- Automotive Smart Antenna for Plug-in Hybrid Vehicles
By Sales Channel:
- Automotive Smart Antenna Sales through OEMs
- Automotive Smart Antenna Sales through OESs
- Automotive Smart Antenna Sales through IAMs
Recent Developments in the Automotive Smart Antennas Market:
- In August 2020, Laird Connectivity launched a new product named Revie Flex 600 and announced to launch of the Revie Flex 700 flexible PCB antennas. This product is launched to accelerate the development of wireless products for 5G, NB-IoT, and LTE-M/CAT-M Applications. This would help the company to enhance its product portfolio and increase its revenue in the near future.
- In May 2020, Airgain, Inc. launched their new product, high-power user equipment (HPUE) antenna-modem platform for the First Responder Network Authority (FirstNet) network using a module from Assure Wireless. This platform will enable superior performance for 4G and 5G communications. This will enhance the company’s product portfolio.
- In January 2019, Hella showcased its sensible and protected mobility options at the North American International auto exhibit which is the greatest motor exhibit in the USA.
- In 2018, Hirschman Car Communication/TE Connectivity has introduced its Remote Tuner Module the subsequent step in vehicles’ radio technology.
- In 2018, Hella launched its new joint project with the business enterprise BHAP, offering digital components, as HELLA BHAP Electronics Co., Ltd. • In September 2018, Airgain, Inc. launched OptumX antenna, a shot-glass MIMO LTE antenna.
- In September 2018, Airgain, Inc. launched MULTIMAX FV 5-in-1 & 6-in-1 antennas.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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