NEWARK, Del, Nov. 16, 2023 (GLOBE NEWSWIRE) -- The global automotive smart antenna market value is predicted to increase from US$ 6,643.2 million in 2023 to US$ 15,754.6 million by 2033. By 2033, global demand for automotive smart antennas is projected to surge at a CAGR of 9.1%. Automotive smart antennas are witnessing higher demand from diverse automobile sectors, and the trend is expected to continue through 2033.
The growing demand for reliable communication and connectivity for vehicles is fueling up the demand for automotive smart antennas. Similarly, the rapidly growing electric vehicle fleet and increasing government initiatives for vehicle electrification are key factors accelerating growth.
Smart antennas facilitate the provision of enhanced in-car entertainment, allowing passengers to enjoy features such as music and video streaming, as well as interactive content, thereby creating a superior entertainment experience during their travels. The increasing desire for these entertainment capabilities is spurring the utilization of smart antennas.
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Car owners have a growing expectation for uninterrupted access to an array of digital services while in motion. This encompasses real-time navigation, top-notch infotainment, and the capacity to maintain connectivity with their smart devices. Smart antennas empower vehicles to fulfill these requirements by delivering sturdy and dependable in-vehicle communication.
In terms of vehicle type, the passenger car segment is expected to dominate the global automotive smart antenna industry through 2033. It will likely hold a volume share of 56.9% by 2023. On the other hand, the HCV segment is set to thrive at a robust CAGR of 10.4% through 2033.
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 US$ 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 US$ 1,137.3 million by 2033.
- China is projected to attain a valuation of US$ 2,208.6 million by 2033.
- Demand in Japan is predicted to rise at a 9.0% CAGR through 2033.
“The automotive smart antenna market is poised to witness healthy growth due to the escalating demand for reliable connectivity solutions, requirement of enhanced in-car entertainment, real-time navigation, demand for connectivity for telematics services, and rising popularity of autonomous vehicles across several vehicle types.” -Says Nikhil Kaitwade, Associate Vice President at Future Market Insights, Inc.
Scope of Report:
| Attribute | Details |
| Estimated Automotive Smart Antenna Market Size (2023) | US$ 6,643.2 million |
| Projected Automotive Smart Antenna Market Size (2033) | US$ 15,754.6 million |
| Anticipated Growth Rate (2023 to 2033) | 9.1% CAGR |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Value (US$ Million) and Volume (thousand units) |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Market Segments Covered |
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| Regions Covered |
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| Key Countries Covered |
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| Key Companies Profiled |
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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.
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More Insights into the Automotive Smart Antenna Market Report
In its latest report, Future Market Insights (FMI) offers an unbiased analysis of the global automotive smart antenna market, providing historical data from 2018 to 2022 and forecast statistics for the period 2023 to 2033.
The study incorporates compelling insights on the automotive smart antenna market based on frequency (ultrahigh frequency, very high frequency, microwaves), vehicle type (passenger car, LCV, HCV, electric vehicle), product type (cellular antenna, GPS antenna, Wi-Fi antenna, Bluetooth antenna, others), application (exterior, interior), sales channel (OEM, aftermarket), and region (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia and Pacific, Middle East and Africa)
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
Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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