Dublin, Jan. 29, 2024 (GLOBE NEWSWIRE) -- The "Automotive Antenna Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The automotive industry is witnessing a transformative era with the rapid integration of advanced communication technologies. A comprehensive automotive antenna market research report, which provides insightful data on the sector's growth trajectory, has been added to our expansive collection of industry analyses. This report offers a meticulous exploration of market dynamics, including key trends, market size estimations, and regional forecasts.
The report unfolds that the global automotive antenna market, valued at $6.34 billion in 2023, is anticipated to swell to a value of $6.69 billion in 2024, marking a Compound Annual Growth Rate (CAGR) of 5.5%. This growth can be largely accredited to mounting demand for connectivity and an upsurge in consumer inclination towards in-vehicle infotainment systems. Remarkable advancements in 5G technology and electric vehicle (EV) adoption are expected to further bolster this trend, with projections of the market reaching an impressive $8.29 billion by 2028.
Innovative product developments, such as smart antenna technologies embracing 5G capabilities, are amongst the notable factors propelling the market forward. Companies are increasingly focusing on addressing connectivity challenges posed by urban infrastructure and the natural environment, enhancing the effectiveness and reliability of vehicle communication systems.
Regional Insights and Segmental Performance
North America led the market as the largest contributor in 2023, while Asia-Pacific is poised for substantial growth over the forecast period. Product terrain analysis segments the industry into fin type, rod type, and screen and film type antennas, which serve a diverse range of frequency requirements for commercial and passenger vehicles.
Market Drivers and Competitive Landscape
- Connected and autonomous vehicles' surge in sales significantly fuels the demand for sophisticated automotive antennas.
- 5G network expansion underpins market growth, enhancing wireless communication capabilities crucial for autonomous driving and IoT applications.
- Company investments in innovative antenna designs and technologies aim to optimize performance for the complex needs of modern vehicles.
- Strategic acquisitions, such as TE Connectivity's acquisition of Laird External Antennas, illustrate the competitive nature and dynamic evolution of the market.
The automotive antenna market report encapsulates profound insights into the future of vehicle connectivity and its imminent impact on safety, navigation, and infotainment systems. Market participants and stakeholders stand to gain an in-depth understanding of the prevailing trends and strategic moves shaping the competitive landscape.
A selection of companies mentioned in this report includes
- Kathrein Solutions GMBH
- Harada Industry Co. Ltd.
- Yokogawa Electric Corporation
- FIAMM Energy Technology
- Northeast Industries Group Corp.
- Hirschmann Laborgeräte GmbH & Co. KG
- Taizhou Suzhong Antenna Group Co.
- Ace Technologies Corp.
- Shenzhen Tuko Technology Co. Ltd.
- INZI Controls Co. Ltd.
- Guangdong Shenglu Telecommunication Tech. Co. Ltd.
- SHIEN LIEN ENT Co. Ltd.
- Tianyi Satcom Co. Ltd.
- Continental AG
- STMicroelectronics NV
- Laird Technologies
- Schaffner Holding AG
- Hella KGaA Hueck & Co.
- TE Connectivity
- Ficosa International SA
- Denso Corporation
- Harman International Industries
- Amphenol Corporation
- Molex LLC
- Rosenberger Hochfrequenztechnik GmbH & Co. KG
- Pulse Electronics Corporation
- Taoglas Group Holdings Limited
- PCTEL Inc.
- Antenova Limited
- Galtronics Corporation Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/ykvdze
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