Categories: Market Research

Automotive Antenna Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Automotive Antenna by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Automotive Antenna, The automotive antenna market size has grown strongly in recent years. It will grow from $6.34 billion in 2023 to $6.69 billion in 2024 at a compound annual growth rate (CAGR) of 5.5%. The growth in the historic period can be attributed to increasing connectivity needs, government initiatives, rise in vehicle production, rapid urbanization, consumer demand for infotainment.

The automotive antenna market size is expected to see strong growth in the next few years. It will grow to $8.29 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to 5g integration, rise of electric vehicles (evs), emergence of v2x communication, demand for advanced safety features, continued connectivity deman. Major trends in the forecast period include integration of smart antenna technology, 5g connectivity in vehicles, increased emphasis on vehicle-to-everything (v2x) communication, flexible and printed antenna technologies, enhanced security features

The rising sale of connected and autonomous vehicles is significantly contributing to the growth of the automotive antenna market going forward. Connected vehicles refer to a vehicle that can link to nearby devices via wireless networks. Autonomous vehicles refer to a vehicle that can sense their surroundings and function without human intervention. Automotive antennas are used in connected vehicles and autonomous vehicles for communication and connectivity applications such as V2X (vehicle-to-everything), modems, GNSS (global navigation satellite system), SDARS (satellite digital audio radio service), Wi-Fi, and Bluetooth. For instance, according to a 2021 report released by Stellantis, a Netherlands-based automotive manufacturing company, the number of monetizable connected cars globally sold by Stellantis is expected to grow from 12 million in 2021 to 34 million in 2025. Furthermore, according to data published by Capgemini, a France-based information technology service, autonomous cars are expected to be 15% of the total global car sales and 95 million autonomous cars are expected to be sold annually by 2035. Therefore, a rise in the sale of connected and autonomous vehicles will drive the automotive antenna market.

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The automotive antenna market covered in this report is segmented –

1) By Product Type: Fin Type , Rod Type, Screen And Film Type

2) By Vehicle Type: Commercial Vehicles, Passengers Cars

3) By Frequency Range: Low Range, Medium Range, High Range

4) By End User: Aftermarket, Original equipment manufacturer (OEM)

Major companies operating in the automotive antenna market are focusing on developing innovative antennas, such as the Windshield Mount Antenna, to strengthen their position in the market. A windshield-mounted antenna, also known as a windshield-mounted antenna, is a type of automotive antenna that is installed on the windshield of a vehicle. For instance, in August 2023, Airgain, Inc., a US-based manufacturer of antennas, launched the UltraMax Glass 5G high-performance windshield. The UltraMAXTM Glass 5G antenna is specifically engineered to deliver exceptional LTE and 5G connectivity, offering accelerated data transfer rates, expanded network coverage, and heightened reliability. With its innovative 5-in-1 configuration, this antenna can seamlessly support up to five distinct frequency bands, encompassing 5G, LTE, and Wi-Fi. This versatile design ensures high-performance connectivity, making it an ideal solution for fleet and public safety vehicles, as well as various assets.

The automotive antenna market report table of contents includes: