PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1460726
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1460726
Key Highlights
The automotive smart antenna market was USD 2,675.4 million in 2023, and it will increase to USD 5,549.9 million, with an 11.1% CAGR, by 2030.
The shifting preferences of customers have made high-end communication technologies a key part of the automobile industry.
The shark-fin antenna, which is the most common type of antenna utilized in cars, can carry out various communication-associated applications, including mobile data, asset monitoring, and voice connectivity.
Over the years, mobile networks have changed, and the expense of data consumption in connection with the spectrum has decreased. Recent years have observed some developments in wireless networks, resulting in expanding speeds and more dependability.
The arrival of the 5G spectrum band has been a major reason in this regard because smart antennae made to function on it can deliver high speeds with low latency in communication.
These components improve signal quantity using advanced technologies like MIMO and beamforming, guaranteeing steady connectivity in different situations.
5G spectrum enables original equipment manufacturers to test various safety V2X applications, including data on traffic between vehicles, on-road, and weather conditions.
The amplified safety features of V2X communication and ADAS benefit from the smart antennae's capability to enable faster as well as more dependable data transfer.
Market Insights
The passenger vehicle category will advance at a higher compound annual growth rate, of 11.4%, in the years to come. Passenger vehicles across the globe have made a large impact on economies and society while altering the means people transport. Enabling people the independence to move where they want when they want, cars have become a key possession in modern life.
The internal combustion engine category was the largest contributor to the industry in 2023, with approximately 70% share. This can be because of the faster refueling, low cost, easy availability, and greater reliability of diesel and gasoline vehicles.
The very-high frequency category led the industry in 2023, with a 45% share. The very-high frequency range is from 30 MHz to 300 MHz, and it allows the use of product frequencies for television broadcasting, air traffic control, and FM radio.
The electronic control units (ECUs) category accounted for the largest share in 2023, of approximately 45%. ECUs are the brain of the smart antenna system, managing coordination, signal analysis, and communication; and guaranteeing seamless exchange of data with other vehicle systems.
In 2023, OEMs led the industry, with approximately 40% share. This can be because of the incorporation of new technologies into modern vehicles in the production process itself.
APAC led the industry, and it is likely to advance at an 11.8% compound annual growth rate during this decade. The dynamic expansion of the automobile industry in this region and the quick acceptance of new innovations have assisted the growth. Moreover, the regional automobile sector is led by nations including India, South Korea, Japan, and China.
The automotive smart antenna industry is expanding rapidly. Key players, to maintain their competitiveness and satisfy the customers' needs for greater connection features, are making large funding in this technology.