The global automotive smart antenna market reached a value of USD 6,643.2 million in 2023 and is expected to show year-over-year growth of 8.9%, reaching USD 7,247.7 million by 2024. Over the period from 2024 to 2034, the market is projected to grow at a compound annual growth rate (CAGR) of 9.1%, with demand reaching USD 17,316.1 million by 2034.
The demand for smart antennas in the automotive sector is expected to remain particularly strong in the passenger car segment, which is anticipated to grow at a CAGR of 8.8% during the forecast period. In 2024, passenger cars are forecasted to account for 56.9% of the market, with the segment projected to reach USD 9,492.6 million by 2034.
In-Depth Market Analysis: A Complete Report
Key Takeaways from the Automotive Smart Antenna Market Report:
- The global market for automotive smart antennas is projected to thrive at a 9.1% CAGR through 2033.
- By vehicle type, the passenger car segment is expected to total a valuation of USD 3,784.2 million by 2033.
- By sales channel, the OEM segment is set to hold a market share of 85.9% in 2023.
- East Asia is expected to account for a significant share of about 40.6% in 2033.
- The United States market value is anticipated to reach USD 1,137.3 million by 2033.
- China is projected to attain a valuation of USD 2,208.6 million by 2033.
- Demand in Japan is predicted to rise at a 9.0% CAGR through 2033.
Competitive Landscape:
TE Connectivity, Continental AG, Laird Connectivity, Harada, Yageo Corporation, and TDK Corporation are the leading manufacturers in the automotive smart antenna market profiled in the full version of the report.
Key players are focusing on strategic partnerships with automotive manufacturers to provide cost-efficient solutions to consumers. They are also investing in developing new products and expanding innovations on the existing ones to meet end-user demand.
Recent Developments:
- In August 2023, TE Connectivity acquired Schaffner to boost its growth and diversification.
- In July 2022, Linx Technologies was acquired by TE Connectivity.
- In July 2022, Maruti Suzuki announced the launch of a new Hyryder-based SUV called Vitara in India. The car is equipped with an antenna shaped like a shark fin.
- In May 2022, Hyundai launched a new variant, Business Edition, of the existing midsize sedan Grand i10 Nios, with a shark fin antenna.
- In October 2022, Robert Bosch invested US$ 260 million to expand electrified product manufacturing at its North Charleston facility.
Automotive Smart Antenna Market Segmentation:
By Frequency:
- Ultra High Frequency
- Very High Frequency
- Microwaves
By Vehicle Type:
- Passenger Car
- LCV
- HCV
- Electric Vehicle
By Product Type:
- Cellular Antenna
- GPS Antenna
- Wi-Fi Antenna
- Bluetooth Antenna
- Others
By Application:
- Exterior
- Interior
By Sales Channel:
- OEM
- Aftermarket
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- East Asia
- South Asia and Pacific
- Middle East and Africa
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