NEWARK, Del, Aug. 12, 2024 (GLOBE NEWSWIRE) -- The global automotive smart antenna market is forecasted to grow significantly, rising from USD 7,247.7 million in 2024 to USD 17,316.1 million by 2034, with a robust CAGR of 9.1% during this period. The increasing demand for smart antennas across various automobile sectors is expected to continue driving this growth through 2034.
The surge in demand for reliable vehicle communication and connectivity is a major driver for the automotive smart antenna market. The expanding electric vehicle fleet and supportive government initiatives for vehicle electrification are also key factors accelerating market growth.
Smart antennas enhance in-car entertainment by enabling features such as music and video streaming, and interactive content, which contributes to a superior travel experience. The rising consumer preference for advanced entertainment capabilities is boosting the adoption of smart antennas.
Car owners increasingly expect uninterrupted access to a range of digital services while on the move, including real-time navigation, high-quality infotainment, and seamless connectivity with smart devices. Smart antennas meet these needs by providing reliable and robust in-vehicle communication.
By vehicle type, the passenger car segment is anticipated to dominate the automotive smart antenna market, holding a significant volume share of 56.9% in 2023. Meanwhile, the heavy commercial vehicle (HCV) segment is projected to grow at an impressive CAGR of 10.4% through 2033.
In-Depth Market Analysis: A Complete Report! https://www.futuremarketinsights.com/reports/automotive-smart-antenna-market
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 2034.
- By vehicle type, the passenger car segment is expected to total a valuation of USD 9,492.6 million by 2034.
- By sales channel, the OEM segment is set to hold a market share of 85.9% in 2033.
- East Asia is expected to account for a significant share of about 40.6% in 2034.
- The United States market value is anticipated to reach USD 1,189.6 million by 2034.
- China is projected to attain a valuation of USD 2,405.2 million by 2034.
- Demand in Japan is predicted to rise at a 9.0% CAGR through 2034.
“The automotive smart antenna market is poised to witness healthy growth due to the escalating demand for reliable connectivity solutions, the 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.
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 USD 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
Authored By:
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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