Growing cellular applications for connected vehicles is expected to drive the overall growth of the smart antenna in automotive market. The automotive smart antenna market size is expected to grow from USD 2.3 billion in 2018 to USD 5.9 billion by 2025, at a CAGR of 14.2% during the forecast period. The automotive smart antenna market is driven by various factors such as the growing cellular applications for connected vehicles and the rise in demand for connectivity-based safety features. However, lack of information technology and communication infrastructure in developing regions along with the lag in government norms are the major restraints that can hamper the growth of the automotive smart antenna market.
Electronic control unit (ECU) segment is expected to grow at a higher CAGR during the forecast period. The ECU is an alliance of electronic components with internal pre-programmed and programmable chipsets used to control one or more units in a vehicle.With the advent of intelligent vehicles, the automotive industry is moving toward a connected future.
Vehicles are getting equipped with advanced features for controlling the communication bridge internally and externally. The ECU of the smart antenna includes hardware and software components that perform diverse functions for communication.
Hybrid electric vehicle segment is expected to hold the largest market share during the forecast period. HEVs are intended to deliver improved fuel economy, increased power, or additional auxiliary power for electronic devices and power tools.As a result of the increasing stringency of emission norms and growing pollution levels, the adoption of hybrid electric vehicles (HEVs) has increased in developed regions such as North America and Europe.
Moreover, the increasing use of hybrid taxis in developed countries such as the US would propel the market for HEVs.The surging adoption of HEVs would provide opportunities to increase the number of connected features.
The growing demand for comfort and convenience would increase the integration of features such as digital audio and video broadcast, GPS services, and cellular connectivity. The increasing acceptance of such features in vehicles will, in turn, boost the demand for automotive smart antennas.
Rest of the World (RoW) is expected to record the highest growth rate during the forecast period. Rest of the World (RoW) is expected to have the highest growth rate during the forecast period.Factors such as increasing demand for automobiles, the availability of cheap labor, lenient environmental regulations, low transportation costs, and flexible export-import policies are driving the growth of the automotive industry in this region.
Many organizations are working in this region to promote the latest wireless technologies such as IoT, which would create an opportunity for the growth of automotive smart antenna market.
In-depth interviews were conducted with CEOs, marketing directors, other innovation and technology directors, and executives from various key organizations operating in the automotive smart antenna market marketplace. • By Company Type: Tier 1 - 55%, Tier 2 - 35%, Tier 3 - 10% • By Designation: C level - 65%, D level - 25%, Others - 10% • By Region: Asia Pacific - 40%, Europe - 30%, North America - 25%, RoW - 5%
The automotive smart antenna market comprises major solution providers such as Continental (Germany), Denso (Japan), TE Connectivity (Switzerland), Hella (Germany), Laird (UK), Yokowo (Japan), Harada (Japan), Schaffner (Switzerland), Kathrein (Germany), and Ficosa (Spain). The study includes an in-depth competitive analysis of these key players in the automotive smart antenna market, with their company profiles, recent developments, and key market strategies.
Research Coverage The market study covers the automotive smart antenna market across segments.It aims at estimating the market size and the growth potential of this market across different segments, such as vehicle, frequency, component, electric vehicle, and region.
The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall automotive smart antenna market and the subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
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