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Chip Antenna Market Grow at highest CAGR Due to Increasing Acceptance of IoT Systems in Smart Home Applications
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The key driving factor for chip antenna market is low cost of this product compared to conventional antennas. There has been increasing demand for chip antenna in Internet of Things (IoT) applications, including smart grids, smart homes, connected cars and industrial internet among others. Moreover, growing trend of miniaturization in consumer electronics is anticipated to fuel the growth of the chip antenna market worldwide. There is significant opportunity in the future for the expansion of the market in low power wide area network applications.
However, initial development cost of ceramic chip antenna is high and this factor is expected to hinder the growth of the market to some extent. Limited range and variable performance efficiency of chip antenna and lack of compatibility and operability between OEM and supplier are other important factors restraining the development of the chip antenna market.
Global market for chip antenna can be broadly classified on the basis of product, application, end-use industry and geography. By product, the market has been segmented into dieleclectric chip antenna and LTCC chip antenna. In 2015, the dielelectric chip antenna segment held the largest share of the market. This type of antenna operates at numerous frequency ranges and helps in reduction of space in smartphones and wearable devices among others. In terms of application, the market is classified into Bluetooth/BLE, Wifi/Wlan, GPS/GNSS and Dual Band/Multi Band. Bluetooth segment is likely to dominate the application sector of chip antenna market by 2024. The major reason is attributed to wide usage of bluetooth technology for short-range wireless communication in various consumer electronic devices, which include smartphones, headsets, gaming consoles and wearable devices among others. There is huge demand for these electronic devices, which in turn is driving the growth of the market for chip antenna. By end-use industry, the chip antenna market is sub-divided into automotive, consumer electronics, smart home, industrial, healthcare and others. The smart home segment is anticipated to grow at the highest CAGR during the forecast period, owing to increasing acceptance of IoT systems in smart home applications. Different wireless technologies, such as WLAN and Bluetooth among others are being continuously used to connect different IoT devices.
The geographic segmentation of the market includes North America, Asia Pacific, Europe, Latin America and Middle East and Africa. Asia Pacific held the largest share of the chip antenna market in 2015 and is likely to develop at the highest CAGR during the forecast period. There is potential demand for automobiles and consumer electronics from countries, including India, China, South Korea and Japan, which in turn is propelling the growth of the market in Asia Pacific. North America and Europe held the second and third largest shares of the market for chip antenna in 2015.
Top players in this market are Fractus S.A. (Spain), Yageo Corporation (Taiwan), Fractus S.A. (Spain), Partron Co., Ltd. (Korea), Mitsubishi Materials Corporation (Tokyo), Johanson Technology, Inc. (U.S.), Vishay Intertechnology, Inc. (U.S.), Inpaq Technology Co., Ltd. (Taiwan), Linx Technologies, Inc. (U.S.), Pulse Electronics (U.S.), Antenova Ltd. (U.K.) and Taoglas Ltd. (Ireland) among others. These players are continuously focused on new product development, mergers and acquisitions and promotional activities among others in order to increase their competitiveness in the industry.
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