- Automotive smart antenna is a vehicle component that is responsible for either transmitting or receiving signals from vehicle electronic devices. It enables the vehicle electronic control unit (ECU) to take appropriate actions based on received signals from vehicle systems. Rise in demand for connected based safety features is a key factor boosting the global automotive smart antenna market. Rise in penetration of smartphone applications for connected vehicles is another trend that is likely to fuel the market during the forecast period.
Key Drivers of Automotive Smart Antenna Market
- Rise in vehicle production integrated with an increasing number of safety standards across the globe is likely to propel the automotive smart antenna market. Increase in integration of smartphones and internet connectivity in vehicles is likely to boost the automotive smart antenna market across the globe. Growing consumer preference toward advanced drive assist system (ADAS) is likely to increase the penetration of smart antenna in vehicles, which in turn is likely to boost the automotive smart antenna market across the globe.
- Rise in integration of infotainment systems in vehicles is likely to further propel the automotive smart antenna market across the globe. Rise in development of wireless technologies, including 5G connectivity and Bluetooth connectivity, is prompting vehicle manufacturers to integrate smart antenna in their vehicles. Electronic Toll Collection is being readily adopted worldwide to improve infrastructure and facilitate speedy movement of vehicles. RFID tag antennas are expected to witness significant demand during the forecast period
- The COVID-19 outbreak has posed several challenges for the automotive sector. Consequently, 80% of automotive and related companies report that Coronavirus impacted on their revenues for 2024. 78% of companies do not have enough staff to run a full production line. Major automotive markets are affected due to COVID-19, leading to disruption in supply chain for manufacturing in other regions, which is likely to hamper the automotive smart antenna market across the globe.
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Europe & Asia Pacific to Hold Significant Share of Global Automotive Smart Antenna Market
- Europe is projected to account for a major share of the global automotive smart antenna market due to a rise in the demand for autonomous vehicles. Europe has presence of major original equipment manufacturers as well as tier-1 suppliers, including Robert Bosch GmbH, Continental AG and Denso Corporation who have major facilities that undertake research & development on the connected vehicle, which is likely to propel the automotive smart antenna market across the globe.
- Followed by Europe, Asia Pacific is projected to hold a significant share of the global automotive smart antenna market due to an increase in sale of vehicles across the region. Rise in demand for connected vehicles across Asia Pacific is likely to drive the automotive smart antenna market in the region. Presence of major automotive parts manufacturing industries across China, India, and Japan is anticipated to propel the automotive smart antenna market in Asia Pacific.
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Key Players Operating in Automotive Smart Antenna Market
The global automotive smart antenna market is expanding consistently, as a large number of players operate in the market. A few of the key players operating in the global automotive smart antenna market are:
- Kathrein-Werke KG
- TE Connectivity
- Robert Bosch GmbH
- Harada Industry Co. Ltd.
- Ficosa International S.A.
- ZF Friedrichshafen
- AGC Inc.
- ACE Technologies Corporation
- Continental AG
- Harman International
- Hella GmbH & C0. KGaA
- Panasonic Corporation
- Laird Connectivity
- Molex
- Amphenol Corporation
- Denso Corporation
- Aptiv
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