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Automotive Antenna Market Trends, Active Key Players and Growth Projection Up to 2027 | TMR
The global automotive antenna market is anticipated to expand at a CAGR of ~4% during the forecast period, owing to a rise in the demand for connected vehicles and related technology in vehicles across the globe. Advent of connected vehicles and automatic systems has increased the number of automotive antennas used per vehicle.The automotive antenna market is presently focused on several multiple functions, including remote-less entry, navigation, telematics, tire pressure monitoring, safety features, and electronic toll collection. Furthermore, increase in sales of connected and semi-autonomous vehicles is anticipated to boost the automotive antenna market during the forecast period.
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The car entertainment system has evolved significantly in the last decade, from simple audio devices to center stack displays supporting an array of features including navigations, games, and video streaming. The navigation feature, which was earlier provided in premium vehicles, is presently a standard feature on vehicles. Entertainment, navigation, and infotainment systems are wireless and hence, require automotive antennas to function accurately. Moreover, mid- and entry-segment vehicles in developing countries exhibit a significant adoption rate for these features, which is likely to boost the demand for automotive antennas during the forecast period.
Advanced Driver Assistance System (ADAS) is based on sensor, vision, and radar technology, which involves the use of numerous short-range and long-range antennas. Demand for ADAS is high in North America and Europe and the regions offer significant opportunities to automotive antenna manufacturers.
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Automotive Antenna Market: Challenges
Rise in technological advances in vehicle components, including automotive antenna, is enabling automakers to install several safety, comfort, and luxury enhancing systems in their vehicles. For instance, key automakers, including Daimler, Hyundai, BMW, and Nissan are increasingly adopting smart antennas (intelligent antennas) in their vehicles in order to offer advance driver assistance systems, intelligent transport systems, Remote Keyless Entry System (RKES), and IoT based infotainment devices for their consumers. However, technological spying, which is a form cybercrime, can hack into the aforementioned systems in vehicles and compromise the security of vehicles, leading to vehicle theft.
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Automotive Antenna: Market Segmentation
Based on antenna type, the shark fin automotive antenna segment held a key share of the global market. The shark fin automotive antenna is being widely adopted due to its esthetic value. The conventional monopole automotive antenna causes noise and vibrates at higher vehicle speeds. Monopoles are being replaced by shark fins, which are more aerodynamic in nature. Thus, the shark fin automotive antenna segment is estimated to hold a leading share of the global market by 2027.
Based on location, the roof module segment accounted for a notable share of the global automotive antenna market. The automotive antenna is preferably installed on the roof, as it has high ground clearance and provides better reception & transmission of signal. Sidelite and backlite segments are anticipated to expand at a high growth rate during the forecast period, owing to installation of automotive antennas for connected vehicles, ADAS, and remote key operations.
Based on cellular technology, the 4G segment held a major share of the global automotive antenna market in 2018, owing to extensive utilization of 4G network. The 5G spectrum is being launched worldwide. 5G is pivotal for adoption of connected vehicles and autonomous vehicles. Therefore, governments across the globe are emphasizing on the deployment of 5G spectrum. The 5G technology is estimated to revolutionize the current transport systems.
Based on vehicle technology, the conventional segment held a leading share of the global automotive antenna market. Conventional vehicle technology includes AM/FM, GPS, and RFID antennas that are available in majority of the vehicles. Consequently, the conventional segment held a major share of the global automotive antenna market.
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Automotive Antenna Market: Regional Analysis
In terms of region, Asia Pacific is likely to emerge as a highly lucrative market for automotive antennas, driven by the demand for antennas equipped in low, mid as well as high priced vehicles in China, Japan, and India in the region.
Europe comprises globally leading luxury vehicle manufacturers based in Germany, the U.K., France, Italy, and Spain, which incorporate numerous advanced technologies that comprise antenna, along with safety and comfort system in their vehicles. Moreover, the demand for safety systems in vehicles is likely to expand at a considerable pace after 2021, owing to implementation of new safety regulations proposed by the European Commission.
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Transparency Market Research registered at Wilmington, Delaware, United States, is a global market research firm that offers market analysis reports and business consulting. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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