The automotive smart antenna global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Automotive Smart Antenna Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The automotive smart antenna market size has grown strongly in recent years. It will grow from $2.63 billion in 2023 to $2.85 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to rising demand for connected vehicles, increasing adoption of advanced driver assistance systems (ADAS), regulatory mandates for vehicle safety, emergence of autonomous vehicles, and increasing focus on vehicle electrification.
The automotive smart antenna market size is expected to see strong growth in the next few years. It will grow to $3.91 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to proliferation of electric and autonomous vehicles, integration of advanced connectivity features, continued evolution of 5G and beyond, rapid urbanization and smart city initiatives, demand for enhanced safety and security. Major trends in the forecast period include advancements in 5G technology, growing investments in R&D, technological innovations and cost reduction, integration of artificial intelligence (AI) and machine learning (ML) technologies, adoption of beamforming and MIMO techniques.
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Scope Of Automotive Smart Antenna Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Automotive Smart Antenna Market Overview
Market Drivers –
The increasing demand for connected vehicles is expected to propel the growth of the automotive smart antenna market going forward. Connected vehicles refer to vehicles equipped with technology that enables them to communicate with each other, infrastructure, and other devices. The demand for connected vehicles is rising due to their ability to provide enhanced convenience, safety, and efficiency through features like real-time navigation and remote diagnostics. Smart antennas enhance connected vehicles’ connectivity and communication capabilities. These antennas utilize advanced technologies to improve signal quality, increase data transmission speeds, and enable more reliable wireless communication between vehicles and external networks. For instance, in March 2022, according to the Otonomo Report, an Israel-based company that provides a cloud-based SaaS solution for car manufacturers, the number of connected vehicles on the road will increase from approximately 237 million in 2021 to over 400 million by 2025. 96% of cars will be connected by 2030. Therefore, the increasing demand for connected vehicles is driving the growth of the automotive smart antenna market.
Market Trends –
Major companies operating in the automotive smart antenna market are developing innovative technology, such as transparent antennas, to enhance their offerings further and stay ahead in the competitive landscape. These antennas are integrated directly into the vehicle’s glass surfaces, offering improved reception for various communication systems, including GPS, Wi-Fi, and cellular signals. For instance, in December 2023, LG Electronics (LG), a South Korea-based electronics company, in collaboration with Saint-Gobain Sekurit, a France-based glass manufacturer, launched a transparent antenna for automobiles. LG’s innovative film-type antenna is directly applied to vehicle glass. This advanced telecommunications solution is poised to revolutionize the evolving mobility sector and bolster LG’s position within the automotive solutions market. LG’s transparent antenna, compatible with various glass types and vehicle designs, offers both on-glass and in-glass solutions. Its expansive surface application ensures reliable telecommunications performance and scalability, accommodating increasing network demands. LG’s latest telematics innovation is notably adaptable and supports enhanced connectivity through 5G, GNSS (Global Navigation Satellite System), and Wi-Fi technologies.
The automotive smart antenna market covered in this report is segmented –
1) By Component Type: Transceiver, Electronic Control Unit (ECU), Other Component Type
2) By Frequency: High, Very High, Ultra High
3) By Vehicle Type: Passenger Car, Light Commercial Vehicles, Heavy Commercial Vehicles
4) By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket
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Regional Insights –
Europe was the largest region in the automotive smart antenna market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive smart antenna market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the automotive smart antenna market are Samsung Electronics Co. Ltd., Koch Industries Inc., Robert Bosch GmbH, Panasonic Corporation, Denso Corporation, Continental AG, Ericsson, TE Connectivity Ltd., NXP Semiconductors NV, Harman International Industries Incorporated, Hella GmbH & Co. KGaA, Ficosa International SA, North West Company, Kathrein SE, MD ELEKTRONIK GmbH, Yokowo Co. Ltd., Calearo Antenne SpA, WISI Automotive GmbH & Co. KG, INPAQ Technology Co. Ltd., Airgain Inc., Huf Huelsbeck & Fürst GmbH & Co. KG, Laird Connectivity, Lorom Industrial Co. Ltd., LS MTRON Ltd., Hirschmann Car Communication GmbH, Ace Technologies Corp., Antenova M2M Ltd., World Products Inc.
Table of Contents
1. Executive Summary
2. Automotive Smart Antenna Market Report Structure
3. Automotive Smart Antenna Market Trends And Strategies
4. Automotive Smart Antenna Market – Macro Economic Scenario
5. Global Automotive Smart Antenna Market Size and Growth
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32. Global Automotive Smart Antenna Market Competitive Benchmarking
33. Global Automotive Smart Antenna Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Automotive Smart Antenna Market
35. Automotive Smart Antenna Market Future Outlook and Potential Analysis
36. Appendix
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