New York, Oct. 03, 2023 (GLOBE NEWSWIRE) -- The global chip antenna market size is projected to expand at ~10% CAGR between 2023 and 2035. The market is expected to garner a revenue of USD 9 billion by the end of 2035, up from a revenue of ~USD 4 billion in the year 2022.Market growth of chip antenna is primarily attributed to the growing production of semiconductor chips. According to the data from the Semiconductor Industry Association, more semiconductor units were sold in 3Q2021 than in any other quarter in the past.
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As a matter of fact, five of the first 11 months of 2021 set historic monthly semiconductor unit sales records. Unit sales in September 2021 were the greatest ever, totaling 103 billion. Apart from this, the growth is also attributed to rising investment in the semiconductor industry which further increases the production of chips.
Rise in the IoT Connected Vehicles is to Boost the Growth of Chip Antenna Market
In the last few decades, the incorporation of electronics in vehicles has been significantly increased. They are used for enhancing the capability of cars, such as recording and monitoring all that is happening in both the external and internal environment. The cars connected with the Internet of Things (IoT) have the ability to share the information of the car with other vehicles and other electronic devices, such as phones, with the use of internet. Chip Antennas of varying bandwidth are used in an automobile setting to enable in-vehicle and vehicle-to-infrastructure connectivity. Therefore, rise in the number of connected vehicles is contributing to the market growth. In 2021, there were around 237 million connected vehicles on the road and it is expected to reach about 400 million by the end of 2025.
Chip Antenna Market: Regional Overview
The market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Increased Ownership of Smartphones is Projected to Boost the Market Growth in North America
The chip antenna market in North America is poised to hold the largest share during the forecasted timeframe. In keeping with the global growth of the smartphone market, the smartphone penetration rate in the United States has steadily increased over the last few years The percentage of Americans who own a smartphone has risen from 35% to 85% and is expected to reach roughly 92 percent by the end of 2023. Old cell phones had exposed antennae, however, most new cell phones are concealed within the fuselage. Cell phone antennas are devices that allow cell phones to receive signals. Furthermore, the growing adoption of luxury cars with ADAS systems is also expected to drive market growth.
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Surging Investment in the Semiconductor Industry to Elevate Market Growth in Asia-Pacific
The market in the Asia Pacific region is expected to show tremendous growth between 2023 and 2035. The government plans to assist both domestic and foreign enterprises engaged in developing homegrown intellectual property linked to chip design for AI applications. The Union Minister of India R told industry stakeholders on September 22 that the government plans to establish a GPU cluster as part of the India AI project to encourage the development of businesses focused on training artificial intelligence models within India. The government will provide assistance by providing incentives of around USD 132 million to USD 145 million. Moreover, AMD, a prominent US semiconductor chip design business, intends to allocate up to USD 400 million in India in the coming five years. Furthermore, the growing network of 5G Internet services is also expected to drive the demand for chip antenna in the region.
Chip Antenna, Segmentation by Product Type
- Dielectric Chip Antenna
- LTCC Chip Antenna
Chip Antenna, Segmentation by Application Type
- WLAN/ Wi-Fi
- Bluetooth/ BLE
- Dual Band/Multi-Band
- GPS/GNSS
The WLAN/Wi-Fi segment in chip antenna market is to garner the largest revenue of the market share by the end of 2035. The growth of the segment is attributed to the rising demand for higher bandwidth and the rising deployment of Wi-Fi hotspots in public places. Public Wi-Fi networks are one of the primary solutions for addressing the growing demand for bandwidth, allowing companies to scale up resources to suit the needs of their users. The overall number of public Wi-Fi hotspots is expected to quadruple between 2018 and 2023. Chip antennas are a form of transmitter that is praised for its compact dimension. They have a narrow range, which makes them ideal for small electronics like smartphones and WiFi routers. They are often used in circuit boards to emit high-frequency electromagnetic waves.
Chip Antenna, Segmentation by End-User Industry
- Automotive
- Consumer Electronics
- Healthcare
- Industrial & Retail
- Smart Grid/ Smart Home
Out of all the consumer electronics segment is to dominate the market growth over the forecast period. The growth is attributed to the growing adoption of smart devices, such as smartphones, smart wearables, and others. Besides this, the smart grid/smart home segment is also expected to grow significantly during the given time frame. The growth of this segment is majorly due to rising investment in the grid system of the world. According to the International Energy Agency, by 2030, the total investment in the electricity grid is expected to reach around 600 billion annually, it almost twice the level of current investment which is nearly 300 billion.
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A few of the well-known industry leaders in the chip antenna market that are profiled by Research Nester are Fractus S.A., Yageo Group, Antenova Ltd., Partron Co., Ltd., Mitsubishi Materials Corporation, Johanson Technology, Vishay Intertechnology, Inc., Inpaq Technology Co., Ltd., TE Connectivity, and Pulse Electronics.
Recent Developments in the Chip Antenna Market
- Antenova Ltd. Has announced the development of the Lama FPC antenna specifically used in small IoT devices. In comparison to other products in the line of FPC antennas line, this one is much better as it is way more compact than others and it provides performance of the superior dual band in the frequencies of 863-870 MHz and 902-928 MHz. These antennas will be suited for Europe and North America since the frequency band is favourable for both regions.
- Johanson Technology developed the Integrated Passive Device (IPD) for SX1261, SX1262, AND LLCC68 LoRa transceivers of Semtech. The design of IPD is created especially for receiving great radio frequency signal range.
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