
The global automotive smart antenna market size was valued at USD 2.5 billion in 2023 and is expected to reach USD 5.2 billion by 2030, at a CAGR of 10.9%, during the forecast period 2023-2030. The key factors driving the automotive smart antenna market are the increase in sales of mid- & premium segment cars EVs and SUV sales. Growing cellular applications for connected vehicles, rising demand for safety features, growing use of Electrical/Electronic (E/E) architecture, and increasing EV sales are driving the market.
Global Automotive Smart Antenna Market Dynamics
DRIVER: Growing cellular applications for connected vehicles
The data rate cost regarding spectrum usage has been reduced with successive generations of mobile networks. There have been various advancements in wireless networks in recent years. Each generation of the cellular network is faster, more secure, and more reliable than the previous one. However, the rise of 5G connectivity has been a key driver, with smart antennas optimized for 5G networks to provide high-speed, low-latency communication. Utilizing advanced technologies such as beamforming and MIMO, smart antennas improve signal quality, ensuring reliable connectivity in various environments.Current 4G networks do not have the capacity or speed to enable a truly connected experience and deliver safe and reliable services. However, 5G technology has boosted OEMs by testing many non-safety V2X applications, such as weather, road conditions, and traffic data between vehicles. The enhanced safety features, including advanced driver assistance systems (ADAS) and vehicle-to-everything (V2X) communication, benefit from the improved reliability and speed of data transfer facilitated by smart antennas. Additionally, these antennas enable over-the-air (OTA) updates, allowing manufacturers to enhance vehicle functionality and security remotely.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=29612374
OPPORTUNITY: New revenue opportunity in autonomous vehicle ecosystem
Currently, vehicles are equipped with various electronic components to sense the environment around the car and transmit and receive data through a smart antenna. Behind the entire communication process with various ECUs, a huge amount of data is generated to implement machine learning with algorithms in the computing system of vehicles. This is how OEMs, automotive Tier I suppliers, and other players (such as software development companies) will make autonomous vehicles possible. Autonomous vehicles catalyze a paradigm shift in the transportation industry, offering revenue opportunities across diverse logistics, ride-sharing, and mobility-as-a-service sectors. One prominent avenue is the rise of Mobility-as-a-Service (MaaS) platforms.
Asia Pacific to be the fastest-growing automotive smart antenna market.
The Asia Pacific region stands out as the fastest-growing market for automotive smart antennas, propelled by several key factors. The region has witnessed a surge in automotive production and sales, with a growing demand for connected and technologically advanced vehicles. Countries like China, Japan, and India are the fastest-growing markets in the APAC region, with high sales of SUVs and premium vehicles. According to MarketsandMarkets analysis, the Asia Pacific region had a sales growth from 39.1 million vehicles in 2021 to 44.7 million in 2023 for the key countries. Also, consumers are highly seeking enhanced connectivity features, and the automotive OEMs in the Asia Pacific are actively incorporating smart antenna systems to meet these demands. Automakers like MG India with their vehicle Hector 2023 model have offered rear seat entertainment unit, online navigation, in-car infotainment system, ADAS, TPMS, 360-degree camera, cellular connectivity, remote vehicle control, over-the-air (OTA) updates, etc.
Key Players
Major manufacturers in the automotive smart antenna market include Continental AG (Germany), Denso Corporation (Japan), TE Connectivity (Switzerland), Forvia (France), and Ficosa Internacional SA (Spain).
Request Free Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=29612374