Automotive Smart Antenna Market to Reach US$ 12.45 Billion by 2032, Transforming Vehicle Connectivity

As per the report published by FMI, the global automotive smart antenna market is projected to have a rapid-paced CAGR of 12.2% during the forecast period. The current valuation of the market is US$ 3.94 Billion in 2022. The market value of automotive smart antennas is anticipated to reach a high of US$ 12.45 Billion by the year 2032. The base year recorded a valuation of US$ 3.44 Billion.

Due to increasing awareness of intelligent transportation and stricter traffic laws, particularly in Portugal, Lithuania, Greece, Norway, and Switzerland, Europe is predicted to grow with addressable value share in the global automotive smart antenna market in the coming decades. These countries primarily include Portugal, Lithuania, Greece, Norway, and Switzerland.

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The market for automotive smart antennas is anticipated to expand in the upcoming years as a result of increased GDP growth rates and the construction of a network for electric car infrastructure.

The automotive smart antenna is anticipated to play an integral role in establishing communication to enhance the safety and performance of the vehicles. This product is allowing original equipment manufacturers (OEMs) to fulfill customer requirements for infotainment services.

While analyzing the automotive smart antenna market, an expert analyst reveals that gradual increase in the incorporation of wireless technology and positioning technologies such as Wi-Fi, Bluetooth, 3G/4 LTE, vehicle-to-vehicle (V2V), and vehicle-to-anything (V2X) connecting technologies in vehicles is expected to drive the global automotive smart antenna market in the current and future years.

According to the findings of Future Market Insights, smart antennas are expected to reduce the overall costs and weight of automobiles with the benefits of easier cable routing and reduced cable length, without affecting the overall design of the automotive since they are completely invisible. Improvised connectivity in automobiles is enhancing the user's experience such as a stronger interface community, active steering, and improved connectivity.  Therefore, the automotive smart antenna market is likely to have a significant rise in demand during the estimated period.

FMI has analysed that automotive smart antennas are becoming the most pivotal component of position location systems and they are also crucial in telematics devices, allowing easy detection of locations. However, the lack of developed infrastructure in some developing countries may create a barrier to wireless technology and in-vehicle connectivity, hampering the progression of the automotive smart antenna in the coming years.

Key Takeaways from the Automotive Smart Antennas Market

Asia Pacific region is projected to dominate the global automotive smart antenna market with a market valuation of US$ 4,394.07 by 2032.
The current market valuation for automotive smart antennas stands at US$ 3.94 Billion in 2022. 
The automotive smart antenna market is anticipated to record a CAGR of 12.2% during the period 2022-2032.
Passenger Vehicles segment is identified to be the largest adopter of automotive smart antennas.

"The rising concern about traffic congestion and the increasing demand for dashboard features are likely to create lucrative growth opportunity for the market players of the automotive smart antennas market." - Says an FMI Analyst

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Competition Landscape in the Automotive Smart Antennas Market 

The market can be described as a competitive market. The key companies have adopted several strategies to broaden their customer base worldwide. Furthermore, the manufacturers are indulging in several growth strategies with frequent innovation of smart automotive smart antennas to provide consumers with a seamless, safe, and comfortable experience.

Ace Technologies Corp., Antenova Ltd., Beijing BDStar Navigation Co. Ltd., Calearo Antenne SPA, Continental AG, Harada Industry Co. Ltd., INFAC Corp., INPAQ Technology Co. Ltd., Koch Industries Inc., Lorom Industrial Co. Ltd., LS MTRON Ltd., Panasonic Corp., Samsung Electronics Co. Ltd. are some of the key players in the market.

Recent Developments in the Automotive Smart Antennas Market:

In August 2020, Laird Connectivity launched a new product named Revie Flex 600 and announced to launch of the Revie Flex 700 flexible PCB antennas. This product is launched to accelerate the development of wireless products for 5G, NB-IoT, and LTE-M/CAT-M Applications. This would help the company to enhance its product portfolio and increase its revenue in the near future.
In May 2020, Airgain, Inc. launched their new product, high-power user equipment (HPUE) antenna-modem platform for the First Responder Network Authority (FirstNet) network using a module from Assure Wireless. This platform will enable superior performance for 4G and 5G communications. This will enhance the company's product portfolio.
In January 2019, Hella showcased its sensible and protected mobility options at the North American International auto exhibit which is the greatest motor exhibit in the USA.
In 2018, Hirschman Car Communication/TE Connectivity has introduced its Remote Tuner Module the subsequent step in vehicles' radio technology.
In 2018, Hella launched its new joint project with the business enterprise BHAP, offering digital components, as HELLA BHAP Electronics Co., Ltd. • In September 2018, Airgain, Inc. launched OptumX antenna, a shot-glass MIMO LTE antenna.
In September 2018, Airgain, Inc. launched MULTIMAX FV 5-in-1 & 6-in-1 antennas.

Key Segments Covered in the Automotive Smart Antenna Report

By Frequency:

Ultra-High Frequency Automotive Smart Antenna
Very High Frequency Automotive Smart Antenna
High Frequency Automotive Smart Antenna

By Component:

Automotive Smart Antenna
Automotive Smart Tuner
Automotive Smart Transceivers

By Vehicle Type:

Automotive Smart Antenna for Passenger Cars
Automotive Smart Antenna for Light Commercial Vehicles
Automotive Smart Antenna for Heavy Commercial Vehicles
Automotive Smart Antenna for Battery Electric Vehicles
Automotive Smart Antenna for Plug-in Hybrid Vehicles

By Sales Channel:

Automotive Smart Antenna Sales through OEMs
Automotive Smart Antenna Sales through OESs
Automotive Smart Antenna Sales through IAMs

Explore Wide-ranging Coverage of FMI's Automotive Landscape

Off-Highway Vehicle (OHV) Telematics Market:
https://www.futuremarketinsights.com/reports/ohv-telematics-market

Vehicle Electrification Market:
https://www.futuremarketinsights.com/reports/vehicle-electrification-market

Automotive MEMS Sensor Market:
https://www.futuremarketinsights.com/reports/automotive-mems-sensor-market

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About Future Market Insights (FMI) 

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.