Automotive Smart Antenna Market by Antenna Type (Shark-fin, Fixed Mast, Others), by Frequency (High Frequency, Very High Frequency, Ultra-High Frequency), by Component (Transceivers, Electronic Control Unit, Wiring Harness, Others), by Vehicle Type (Passenger Vehicle, Commercial Vehicle, ICE Vehicle, Electric Vehicle) and by Sales Channel (OEM, OES, IAM) and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America).
The global Automotive Smart Antenna Market size was estimated at USD 4.1 billion in 2023 and is projected to reach USD 9.9 billion in 2030 at a CAGR of 13.8% during the forecast period 2023-2030.
The current trend in the automotive industry is geared towards the adoption of smart vehicles, which necessitates a reliable connection. To achieve this need, smart antennas have become instrumental. The automobiles are now fully connected through vehicle-to-infrastructure (V2I) and vehicle-to-vehicle (V2V) communication, thereby enhancing safety and performance. The automotive smart antenna plays an integral role in linking various services such as mobile communication, GPS, TV, radio, and others. By enabling original equipment manufacturers (OEMs) to provide new technological architecture standards, the automotive smart antenna fulfills customer requirements for communication and infotainment services.
One of the benefits of smart antennas is that they reduce the overall cost and weight of the automobile through easier cable routing and reduced cable length, without affecting the automobile design since it remains completely invisible. For instance, improved connectivity in the automobile enhances the user's experiences such as active steering, stronger interface immunity, and better connectivity. Thus, the new and advanced features are expected to drive the growth of the automotive smart antenna market.
The COVID-19 pandemic, a global phenomenon, had a detrimental impact on the growth trajectory of the automotive industry in the year 2020. As a result of this unprecedented crisis, numerous manufacturing industries were compelled to halt their operations. The intricate web of supply chain management and distribution channels were thrown into disarray, owing to the acute scarcity of raw materials. However, it is heartening to note that the automotive industry is gradually recuperating from the losses incurred during this tumultuous period and is well on the path to introducing high-quality products that are tailor-made to cater to the burgeoning demand from consumers, spanning across various regions of the world.
In the contemporary era, the utilization of high-end communication technologies has emerged as a pivotal facet in the automotive industry owing to the shift in customer inclinations. Amongst the various types of antennas employed in the automobile domain, the shark-fin antenna has gained immense popularity. This is primarily due to its ability to execute diverse communication operations such as voice connectivity, mobile data, and asset tracking within the automobile milieu. Furthermore, the installation process of the shark-fin antenna is facile, it exudes an aesthetical appeal, it is reasonably priced, performs exceptionally well, and boasts of an extended lifespan. Additionally, it is noteworthy that the shark-fin antenna was conventionally used in luxury sedans. However, as a result of the burgeoning developments in the automobile market and the decline in the cost of shark-fin antennas, even entry-level cars are now integrating this technology. For instance, in the year 2018, TU Wien, Vienna University of Technology, developed a specialized antenna box that is specifically designed for automobiles. This innovation facilitates better connectivity and is deemed to be a viable solution for wireless requisites in vehicles. It is believed that these novel advancements in the domain of automotive smart antenna will significantly drive the growth of the market.
Asia pacific to Dominate the Market