Automotive Smart Antenna Market Expected to Reach USD 15,754.6 Million by 2033, Growing at a 9.1% CAGR

Posted on 2024-08-09 by Future Market Insights in Automotive // 0 Comments

The global automotive smart antenna market is forecasted to grow significantly, rising from USD 6,643.2 million in 2023 to USD 15,754.6 million by 2033, with a robust CAGR of 9.1% during this period. The increasing demand for smart antennas across various automobile sectors is expected to continue driving this growth through 2033.

The surge in demand for reliable vehicle communication and connectivity is a major driver for the automotive smart antenna market. The expanding electric vehicle fleet and supportive government initiatives for vehicle electrification are also key factors accelerating market growth.

Smart antennas enhance in-car entertainment by enabling features such as music and video streaming, and interactive content, which contributes to a superior travel experience. The rising consumer preference for advanced entertainment capabilities is boosting the adoption of smart antennas.

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Car owners increasingly expect uninterrupted access to a range of digital services while on the move, including real-time navigation, high-quality infotainment, and seamless connectivity with smart devices. Smart antennas meet these needs by providing reliable and robust in-vehicle communication.

By vehicle type, the passenger car segment is anticipated to dominate the automotive smart antenna market, holding a significant volume share of 56.9% in 2023. Meanwhile, the heavy commercial vehicle (HCV) segment is projected to grow at an impressive CAGR of 10.4% through 2033.

Key Takeaways from the Automotive Smart Antenna Market Report:

The global market for automotive smart antennas is projected to thrive at a 9.1% CAGR through 2033.
By vehicle type, the passenger car segment is expected to total a valuation of USD 3,784.2 million by 2033.
By sales channel, the OEM segment is set to hold a market share of 85.9% in 2023.
East Asia is expected to account for a significant share of about 40.6% in 2033.
The United States market value is anticipated to reach USD 1,137.3 million by 2033.
China is projected to attain a valuation of USD 2,208.6 million by 2033.
Demand in Japan is predicted to rise at a 9.0% CAGR through 2033.

Competitive Landscape:
TE Connectivity, Continental AG, Laird Connectivity, Harada, Yageo Corporation, and TDK Corporation are the leading manufacturers in the automotive smart antenna market profiled in the full version of the report.

Key players are focusing on strategic partnerships with automotive manufacturers to provide cost-efficient solutions to consumers. They are also investing in developing new products and expanding innovations on the existing ones to meet end-user demand.

Recent Developments:

In August 2023, TE Connectivity acquired Schaffner to boost its growth and diversification.
In July 2022, Linx Technologies was acquired by TE Connectivity.
In July 2022, Maruti Suzuki announced the launch of a new Hyryder-based SUV called Vitara in India. The car is equipped with an antenna shaped like a shark fin.
In May 2022, Hyundai launched a new variant, Business Edition, of the existing midsize sedan Grand i10 Nios, with a shark fin antenna.
In October 2022, Robert Bosch invested US$ 260 million to expand electrified product manufacturing at its North Charleston facility.

Full Market Assessment: Comprehensive Report

Automotive Smart Antenna Market Segmentation:

By Frequency:

Ultra High Frequency
Very High Frequency
Microwaves

By Vehicle Type:

Passenger Car
LCV
HCV
Electric Vehicle

By Product Type:

Cellular Antenna
GPS Antenna
Wi-Fi Antenna
Bluetooth Antenna
Others

By Application:

Exterior
Interior

By Sales Channel:

OEM
Aftermarket

By Region:

North America
Latin America
Western Europe
Eastern Europe
East Asia
South Asia and Pacific
Middle East and Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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