Automotive smart antenna market size is expected to grow from US $2.3 billion in 2018 to $5.9 billion by 2025

Nov. 15, 2018
NEW YORK—Growing cellular applications for connected vehicles are 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 US $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.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.

PR Newswire has the complete article

Sponsored Recommendations


To join the conversation, and become an exclusive member of Electronic Design, create an account today!