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(I-AutoNewsWire.com, November 12, 2019 ) The Automotive Smart Antenna Market 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 major vendors in the global automotive smart antenna market are Continental (Germany), Denso (Japan), TE Connectivity (Switzerland), Hella (Germany), Laird (UK), Yokowo (Japan), Harada (Japan), Schaffner (Switzerland), Kathrein (Germany), and Ficosa (Spain). The technological advancements in accordance with the huge disruptive trends such as IoT and connected and autonomous vehicles have proliferated the demand for communication electronics in vehicles. Thus, leading automotive players have started to focus on hardware and software platforms for in-vehicle and external communications. This results in an increasing need for communication devices including antennas. Therefore, this market has registered substantial growth in recent years.
The Asia Pacific is expected to account for the largest market size during the forecast period
The demand for the automotive smart antenna in the Asia Pacific is significantly driven by strong economic growth, growing population, rapid urbanization, and growing connected cars. As connectivity-based safety regulations have been established in Japan and South Korea, the demand for smart antennas in these countries is anticipated to increase during the next 5 years. As a result of the growing population and vehicle demand, countries like China are expected to introduce vehicle and road safety regulations. The growing cellular applications and increasing demand for safety features in vehicles are expected to trigger the market for automotive smart antennas in the region.
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By Vehicle, the light-duty vehicle segment is expected to be the largest contributor in the global market during the forecast period.
The market size can be attributed to the growing light-duty vehicle production, increasing installation of safety and convenience features in light-duty vehicles, and advancements in the field of vehicle electronics. Moreover, various advanced features such as remote keyless entry, connectivity, and V2V communication are expected to be offered in premium vehicles, which, in turn, would drive this market for light-duty vehicles. The introduction of autonomous vehicles will also have a massive impact on the automotive smart antenna market because of the increased need for smart and connected features in a vehicle.
The infrastructure service provider accounts for the largest market size during the forecast period.
Transceivers are the most critical components of communication. The transceiver considered in the scope is for both external and internal communications. The external communication transceivers are used to transmit and receive signals through cellular connectivity, whereas MOST (Media Oriented System Transport) and Ethernet are used for in-vehicle communication. The market for communication terminals like transceivers has increased with the increase in the technological growth of connected and autonomous vehicles.
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In the electric vehicle type, the battery electric vehicle (BEV) segment is growing at the fastest rate during the forecast period.
The demand for BEVs is expected to increase in the coming years because of an increase in the adoption of strict emissions norms by the governments of various countries. Also, several governments now provide subsidies for the use of environment-friendly cars, thereby encouraging the use of battery-operated vehicles. The electric vehicle sales in North America has grown exponentially, registering an increase of 37% in 2016. Stringent emission regulations in the US, particularly in states such as California, have led to increased sales of electric vehicles. The increased number of electric vehicles will drive the market for automotive electronics to support various functions, which, in turn, would increase the demand for automotive smart antennas.
Mr. Shelly Singh