AUTOMOTIVE ANTENNA MODULE MARKET REPORT OVERVIEW
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The global automotive antenna module market size was USD 1691.56 million in 2021 and will touch USD 1923.3 million by 2027, exhibiting a CAGR of 2.16% during the forecast period.
Automotive antenna module were electronics used for auto or video of the automobiles, which helps in reducing the overall cost and weight reduction due to easier cable routing and reduced cable length. Automotive antenna module is an electrical component which is designed to be mounted on the vehicle refers to receive and transfer information. Typically an antenna consists of an arrangement of metallic conductors (elements), electrically connected (often through a transmission line) to the receiver or transmitter. The growing demand for premium cars and the growth of vehicle connectivity in commercial vehicles increases the need for wide-area antennas. Traffic and traffic management authorities around the world are increasingly focusing on the safety of pedestrians and vehicles. As a result, they are required to install advanced safety technologies in their vehicles.
Participants are fixing their efforts on encouraging R&D. Technological development are supporting the regional market growth. Manufacturers need to stay updated with changing market trends and develop products that meet growing consumer needs. Companies coming up with progressive technological solutions for firming their positions.
COVID-19 Impact: Pandemic Hampered The Market Due To Unexpected Disruption In The Sector
The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.
COVID- 19 pandemic has extremely affected the whole world. It caused many unexpected disruption and affected the industry. COVID- 19 had negative impact on the market due to economic slowdown, unpredictability in financial sector and high unstable market. The pandemic resulted in decreased demand due to a disrupted supply chain, drop in sales of products, delivery schedules. Travel bans imposed affected business collaboration and partnership. Demand had recently reduced due to travel bans and lockdown during the COVID-19 pandemic. The continuous loss in the business due to the lockdown measures is projected to directly influence the growth of the investments in the market.
LATEST TRENDS
"Use Of Innovative Products To Boost The Market Growth "
Technological improvement and development will further enhance the presentation of the product, allowing it to obtain a varied range of requests in the market. Technological advancement will improve performance and propel the market growth. Technological advancement with high demand are increasingly setting a force to increase the productivity. Some players focus on product improvement to meet consumer requirements and likings. Constant innovation in manufacturing of products is anticipated to stimulate product demand.
AUTOMOTIVE ANTENNA MODULE MARKET SEGMENTATION
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- By Type Analysis
According to type, the market can be segmented into on-glass antenna, shark fin antenna, monopole antenna, others.
On-glass antenna will capture the maximum market share through forecast period.
On-glass antenna are integrated into the vehicle's glass, such as the windshield or rear window. They are often used for radio, GPS, and cellular signals.
Shark’s fin, these antennas are mounted on the exterior of the vehicle, typically on the roof. Shark fin antennas are popular for their aerodynamic design and are often used for a variety of functions including GPS, cellular, satellite radio, and sometimes Wi-Fi.
Monopole antennas are typically used for AM/FM radio. They are one of the simplest and oldest types of antennas used in vehicles. It consists of a single pole or rod, often mounted vertically.
Other antenna types used in automotive applications, such as whip antennas, hidden antennas, and printed antennas. These types may vary in terms of their design, placement, and the specific functions they serve.
- By Application Analysis
According to application, the market can be segmented into commercial vehicles, passenger cars.
Automotive antenna module market players cover segment as commercial vehicles will dominate the market share during forecast period.
Commercial vehicles may require specialized antennas for functions like fleet management, GPS tracking, Wi-Fi for on-board systems, and communication for logistics and operational efficiency. Commercial vehicles, especially those used in logistics and long-haul transportation, might be equipped with multiple antennas to support various communication and tracking systems.
In passenger cars, there's a focus on integrating antennas in a way that maximizes space and maintains the vehicle's design. This has led to innovative solutions like integrating antennas into body panels or windows.
DRIVING FACTORS
"Advanced Vehicle To Vehicle Connectivity To Boost The Market Growth"
The industry across the world are working on more advanced technology to develop car-2-car connectivity and mobile device integration. Vehicle to vehicle communication still exist in the market but has a very limited reach and can share information like destinations, speed and location. It majorly works to avoid crashes in the short range. Advanced vehicle to vehicle connectivity will act as a safety feature and use antenna modules, which will increase the demand of automotive antenna modules in the global market.
"Technological Advancement and Innovation To Upsurge The Market"
Technological advancements and innovation activate unique revenue augmenting opportunity which will upsurge the automotive antenna module market growth. Growing investment in research and development activities and growing awareness about benefits are expected to deliver profitable opportunities for the market. Constant development are one of the trends in the market in variety of practices. Rapid growth in technology, connectivity has become one of the mandatory aspects in vehicles.
RESTRAINING FACTOR
"High Cost To Hamper The Market Growth"
High cost is hampering development of the automotive antenna module market. Automotive antenna module are highly complex system that require a range of components and technology, making them expensive to manufacture. Technical difficulties will reduce the industry revenue.
AUTOMOTIVE ANTENNA MODULE MARKET REGIONAL INSIGHTS
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"Asia Pacific to Dominate the Region Due To Presence Of Automotive Manufacturers"
The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East and Africa.
Asia Pacific is further expected to witness growth in the automotive antenna module market share. The region is dominating the market due to presence of automotive manufacturers and the increasing demand for connected vehicles in the region. The rising inhabitants and increasing income levels are also contributing to the development of the market. Upsurge in investments by key market players for the R&D undertakings and enlargement of their production abilities and product portfolios are projected to upsurge the growth. The expansion of regional market is being aided by technological developments.
KEY INDUSTRY PLAYERS
"Key Players Focus On Partnerships To Gain Competitive Advantage"
The key players are dynamically contributing in strategic events that are aimed at maintaining strong market position and increasing market share by merger, partnerships and others. Key players are motivated to introduce new innovative products. They are spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market. The market changes are dynamic such as market expansion, partnership and merger. The collective efforts of these major players expressively impact the competitive landscape and future path of the market.
List Of Market Players Profiled
- HARADA INDUSTRY CO., LTD (Japan)
- SCHAFFNER HOLDING AG (Switzerland)
- Kymeta Corporation (U.S.)
- Amphenol T&M Antennas (U.S.)
- Hirschmann Car Communication (Germany)
INDUSTRIAL DEVELOPMENT
September 2021: Ace Technologies Corp. announced fully automated production line for shark fin antennas as its Nom Dong campus in South Korea.
REPORT COVERAGE
The report provides scrutiny and information according to market sectors. Business overview, financial overview, product portfolio, new project launch, recent development enquiry are the factors included in the profile. The report incorporates completely examined and appraised evidence of the noticeable players and their position in the market by methods for various descriptive tools. The report covers national and regional level market size and forecast. The report gives businesses the facility to research new prospect in many areas. The report shows to be an operational tool that players can use to gain a competitive superiority over their opponents and ensure lasting achievement in the market.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 1691.56 Million in 2021 |
Market Size Value By |
US$ 1923.3 Million by 2027 |
Growth Rate |
CAGR of 2.16% from 2021 to 2027 |
Forecast Period |
2022-2027 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Types & Application |
Frequently Asked Questions
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What value is the automotive antenna module market expected to touch by 2027?
The automotive antenna module market is expected to reach USD 1923.3 million by 2027.
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What CAGR is the automotive antenna module market expected to exhibit by 2027?
The automotive antenna module market is expected to exhibit a CAGR of 2.16% by 2027.
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What are the driving factors of the automotive antenna module market?
Advanced vehicle to vehicle connectivity and technological development and advancement are expected to deliver profitable opportunities for the automotive antenna module market.
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What are the key automotive antenna module market segments?
The automotive antenna module market segmentation that you should be aware of, which include, Based on type the automotive antenna module market is classified as on-glass antenna, shark fin antenna, monopole antenna, others. Based on application the automotive antenna module is classified as commercial vehicles, passenger cars.