According to a new report published by UnivDatos Markets Insights, the automotive V2X antenna market was valued at USD million in 2021 & is expected to grow at a CAGR of 38% from 2022-2030. The analysis has been segmented into Antenna Type (Planar, Non-Planar, and Conformal Antenna), Technology (DSRC (dedicated short-range communication) and C-V2X), Communication System Type (vehicle to Vehicle, Vehicle to Infrastructure, Vehicle to Pedestrian, and Others), and Vehicle Type (Passenger Vehicles, Commercial Vehicles, and Others), Region/Country.
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The automotive V2X antenna market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the automotive V2X antenna market. The automotive V2X antenna market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the automotive V2X antenna market at the global and regional levels.
Key Market Opportunities
An Automotive V2X antenna is a connected car and automotive electronics. Network connectivity is becoming one of the most important trends in the automotive industry and V2X is the technology bridging the communication of the vehicle with any nearby vehicle, infrastructure, or pedestrian. This technology helps reduce accidents, enhances road safety, and is used for efficient traffic management. It does so by permitting inter-vehicle communication, where vehicles can observe their surroundings, makes predictions, and act for positive outcomes, all autonomously, removing the human error of judgment and increasing the response time.
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The Automotive V2X Antenna market is expected to grow at a strong CAGR of around 38% during the forecast period owing to the increasing demand for safety and security features in vehicles. Furthermore, V2X technology is the need of the hour with an increasing number of vehicles on the road leading to traffic congestions, fatalities due to accidents, delay in emergency services reaching the victims, etc are some of many. The key to reducing this overwhelming problem caused due to poorly managed roads comes down to advancing the way commuters, vehicles, and roadside infrastructure communicate with each other, which can be achieved by using this technology, which helps in providing information on traffic jams, warning information on accidents, emergency information, collision alerts, etc. Therefore, in order to produce safer vehicles and growing emphasis on reducing road accidents, efficient traffic management, and enhancing driver safety by the governments as well as OEMs, has resulted in increased adoption of V2X systems. For instance, on Jan 2019, the Regional Transportation Commission (RTC) of Las Vegas, USA, and Qualcomm Technologies, announced the implementation of C-V2X-enabled roadside units (RSUs) which will be installed across select roadways as part of a trial program to demonstrate the benefits of C-V2X technology as well as advance commercial deployment. The trial is also the first public installation of C-V2X in Las Vegas.
COVID-19 Impact
The Covid-19 pandemic has had a significant impact on the automobile market. As the government enforced strict lockdowns across the globe and halted economic activities all over, manufacturers had to shut down their operations, further escalating into a labor crisis and unemployment problem, and since China is the major manufacturer and supplier of different critical parts of the world, was the first-most country that was affected by the COVID-19 crisis, further led to supply chain problem, countries have also seen a major drop in sales of vehicles. In addition, people started working from home and stopped going out had a huge blow over the vehicle demands. However, with economies almost arriving back to pre-pandemic levels are pouring in huge demand in the order books of automotive OEMs, clubbed with revenge spending, and traveling as well hesitation in taking public transport is creating an avenue for the growth of this industry.
Segmentation Details:
· Based on antenna type, the market is segmented into planar, non-planar, and conformal antenna. Among these, the non-planar antennas are primarily used for V2X communications in the market in 2021.
· Based on technology, the market is bifurcated into DSRC (dedicated short-range communication) and C-V2X. Out of the two, the C-V2X shows a very promising future and going to grow with a significant CAGR during the forecasted period.
· Based on communication system type, the market is segmented into vehicle to vehicle, vehicle to infrastructure, vehicle to pedestrian, and others. The vehicle-to-vehicle segment holds a significant market share in 2021.
· Based on vehicle type, the market is segmented into passenger vehicles, commercial vehicles, and others. Although the passenger vehicle segment is anticipated to dominate the market in terms of volume. The commercial vehicle segment is also expected to witness significant CAGR growth over the forecast period.
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Automotive V2X Antenna Market Geographical Segmentation Includes:
· North America (U.S., Canada, and the Rest of North America)
· Europe (Germany, UK, Spain, France, Italy, Rest of Europe)
· Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific)
· Rest of the World
The automotive V2X antenna market in North America is expected to witness significant CAGR growth during the forecast period. The factor driving this growth in North America is because of the fact that the USA is one of the biggest automotive manufacturers, also with the highest number of car ownerships. Moreover, there are almost 50 autonomous vehicle companies that are headquartered in the USA which is also the highest in the world. Furthermore, the USA has almost 127,000 autonomous vehicle patents. Additionally, North America has the required infrastructure in place which is required for the successful implementation of the V2X technology. Furthermore, ADAS features are increasingly becoming mainstream and are available as a standard in new mainstream cars and even-entry-level cars, further giving a boost to the demand for V2X antennas.
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the automotive V2X antenna market. The major players have been analyzed by using research methodologies such as Porter’s Five Forces Analysis for getting insight views on global competition.
Recent Developments:
· On Jan 2023, Quectel Wireless Solutions, a global IoT and automotive solutions provider, announces its new automotive grade 5G NR modules, the AG59x series. The new modules deliver a wide range of enhancements including multi-gigabit cellular connectivity, C-V2X PC5 direct communications, improved location services, a high-performance multicore application processor as well as strengthened security.
· On June 2021, Spark Minda signs a joint venture with INFAC Elecs for automotive antenna systems. The company believes that connectivity-based safety features such as remote keyless entry, V2V & V2X communication will spur demand for devices like antennas products and solutions
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the automotive V2X antennas market?
• Which factors are influencing the automotive V2X antenna market over the forecast period?
• What are the global challenges, threats, and risks in the automotive V2X antennas market?
• Which factors are propelling and restraining the automotive V2X antennas market?
• What are the demanding global regions of the automotive V2X antennas market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
• What are the descriptive profiles of key companies along with their SWOT analysis?
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