As per the detailed report issued by Market Research Future (MRFR), the global automotive smart antenna market is slated to gain a significant market valuation at a substantial CAGR over the review period.
Drivers and Restraints
The installed smart antenna in vehicles supports lowering the overall cost and weight reduction owing to easier cable routing and reduced cable length. Additionally, the smart antenna deployed in the automotive application does not impact the design as they are entirely invisible and are not exposed to vandalism, car washes, and other external forces, which makes it more stable and reliable to operate. Furthermore, the process cost for OEM is mostly unaffected with the smart antenna installation as antenna delivery is in the mirror module and helps in reducing carbon emissions due to no additional air drag. Growing demand for adding awareness, intelligence, and connectivity to the vehicles is helping to define an entirely new dynamic for safety, infotainment, convenience, and communication. The automotive smart antenna helps to logically combine an antenna, tuner, and transceiver in a single unit and is, therefore, reducing the design sophistication. Moreover, enhanced the connected car user experience, active steering, stronger interference immunity, and better connectivity are the significant car benefits offered through the installation of the automotive smart antenna. Furthermore, the automotive smart antenna is located under rear bumpers, spoiler, roof, and front under-glass. In recent times, automotive smart antenna manufacturers are merging with automotive OEMs to perform an extensive test program to meet consumer demands and stringent safety norms and standards.
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Competitive Analysis
The major market players identified by MRFR in the global smart antenna market are Ficosa International, S.A.(Spain), WORLD PRODUCTS INC.(US), Hirschmann Car Communication GmbH (Germany), Antenova M2M (UK), West Corporation (US), Ace Technologies Corp. (Korea), Laird (US), and KATHREIN SE (Germany), Continental AG (Germany), among others.
Segmental Analysis
The global market for automotive smart antenna systems is segmented on the basis of vehicle type, frequency, and sales channel.
On the basis of frequency, the global market for automotive smart antenna market has been segmented into very high frequency, ultra-high frequency, and high frequency.
On the basis of the vehicle type, the automotive smart antenna market has been segmented into commercial vehicles, battery electric vehicles, passenger cars, hybrid electric vehicles, and plug-in hybrid vehicles.
On the basis of the sales channel, the market for automotive smart antenna systems has been segmented into the original equipment manufacturer, original equipment supplier, and the independent aftermarket.
Regional Analysis
The geographical analysis of the global automotive smart antenna market has been conducted in four major regions, namely North America, the Asia Pacific, Europe, and the rest of the world (including Latin America and the Middle East and Africa).
The manufacturing of light-duty vehicles in the North American region is adding to an increase in the installation of safety, communication, and smart features across light trucks to boost the growth of the market for automotive smart antenna systems in the region. Moreover, significant sales of electric vehicles in the European region are expected to drive the market in the region. The Asia Pacific is projected to contribute to a substantial demand and is estimated to witness significant growth in the future due to stringent standards pertaining to vehicle connectivity and safety in developing economies such as Japan and China. Furthermore, the rising vehicle production and the potential of electric vehicles in the market is anticipated to fuel the global automotive smart antenna market. Europe, on the other hand, is poised to account for substantial market share in the global automotive smart antenna market due to growing awareness among OEMs and end-users regarding communication and intelligent transportation.
