Antenna Market Size to Reach $40.1 Billion by 2032

The antenna market is expected to grow during the forecast period, owing to, owing to increase in adoption of chip antenna in internet of things devices , and increase in adoption of chip antenna in consumer electronics industry drives market growth.

According to a new report published by Allied Market Research, titled, "Antenna Market by Technology, Application, End User: Global Opportunity Analysis And Industry Forecast, 2023-2032," the antenna market was valued at $16.8 billion in 2022, and is estimated to reach $40.1 billion by 2032, growing at a CAGR of 9.1% from 2023 to 2032.

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An antenna stands as a fundamental element within communication systems, facilitating the transmission and reception of electromagnetic waves, including radio frequency (RF) signals, microwaves, and even light. Its central purpose is to convert electric signals into electromagnetic waves, propelling them into open space, or to transform received electromagnetic waves back into electrical signals, ready for further processing by electronic apparatus. Antennas exist in diverse forms and sizes, each fine-tuned for particular frequency ranges and applications. They are present in a variety of devices, spanning from smartphones, radio tower, radio telescope, and televisions to satellite communication setups and radar installations.

On the other hand, an antenna system presents a more comprehensive idea of , enveloping not only the antenna itself but also the complementary components essential for optimal functioning. The antenna components are feedlines, serving to shuttle electrical signals to and from the antenna; matching networks, responsible for efficiently coupling the antenna to the transmitter or receiver; and potentially signal amplifiers, tuners, and filters that heighten signal quality and reduce interference. The selection of antenna system architecture depends on factors such as desired frequency range, radiation pattern, gain, and environmental circumstances. Antenna systems are devised to fulfill precise performance benchmarks, such as achieving high gain for long-distance communication, broad coverage for cellular networks, or focused patterns for radar applications.

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The Internet of Things (IoT) ecosystem is growing at a fast rate owing to availability of various smart products for domestic and industrial applications. The application areas of IoT include smart homes, smart grids, industrial internet, and connected cars, among many others. The demand for incorporating more than one wireless technology in IoT devices is increasing as the IoT modules used in various applications are becoming compact. Antennas are small, which makes them the best option for low-frequency applications for smaller design of IoT solutions. This has resulted in the high demand for antenna from various IoT applications. The anticipated growth in IoT devices and connections is expected to create the need for the rapid development of compact, reliable, and low-cost devices. In many instances, using conventional external monopole or dipole antennas is not an option, as wearables, trackers, and many other applications cannot be equipped with external antennas. Hence, the demand for antenna is expected to grow in the coming years.

In essence, an antenna system constitutes the vital bridge connecting electronic devices with the surrounding environment, enabling wireless communication across various sectors. It assumes a pivotal role in dictating efficiency, coverage scope, and overall performance within a communication network or device. Designing and executing antenna systems demands an in-depth grasp of electromagnetics, signal processing, and engineering principles to ensure smooth communication and effective functionality across a spectrum of scenarios - extending from personal communication devices to intricate satellite communication networks and more.

The antenna market is analyzed by technology type, application, end user and region. On the basis of technology type, the market is bifurcated into SIMO, MIMO, MISO, and Others. In 2022, the MIMO segment dominated the market, and it is expected to acquire a major market share by 2032. On the basis of application, the market is categorized into cellular systems, radar, WiFi systems, and others. The cellular systems segment acquired the largest share in 2022 and radar segment is expected to grow at a significant CAGR from 2023 to 2032. On the basis of end user, the market is categorized into consumer electronics, healthcare, aerospace and defense, telecommunication, and others. The telecommunication segment acquired the largest share in 2022 and it is expected to grow at a significant CAGR from 2023 to 2032.

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On the basis of region, the antenna market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).

KEY FINDINGS OF THE STUDY

The global antenna industry was valued at $16,798.12 million in 2022.
The MIMO segment was the highest revenue contributor to the antenna market size, with $8,768.92 million in 2022.
The cellular systems segment was the highest revenue contributor to the antenna market share, with $10,103.9 million in 2022.
The telecommunication segment was the highest revenue contributor to the antenna market growth, with $6,300.44 million in 2022.
Asia-Pacific was the highest revenue contributor, accounting for $6,151.47 million in 2022, and is estimated to reach $15,201.36 million by 2032, with a CAGR of 9.5%.

The key players profiled for antenna market analysis include Amphenol Corporation, Antcom, Antenova Ltd., Molex (Koch Industries), Panorama Antennas, PCTEL, Pulse Electronics (YAGEO Group), Shenzhen Xinwei Communication Co., Ltd., STI-CO, and TE Connectivity. The key strategies adopted by the major players of the Antenna market are product launch, acquisition and expansion.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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