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The automotive smart antenna market share is expected to increase to 40.03 million units from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 14.5%.
The report extensively covers automotive smart antenna market segmentations by the following:
The automotive smart antenna market report offers information on several market vendors, including Ace Technologies Corp., Antenova Ltd., Beijing BDStar Navigation Co. Ltd., Calearo Antenne SPA, Continental AG, Harada Industry Co. Ltd., INFAC Corp., INPAQ Technology Co. Ltd., Koch Industries Inc., Lorom Industrial Co. Ltd., LS MTRON Ltd., Panasonic Corp., Samsung Electronics Co. Ltd., Taoglas Group Holdings Ltd., TE Connectivity Ltd., Yageo Corp., and Yokowo Co. Ltd. among others.
This automotive smart antenna market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches.
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The increasing connectivity technologies in vehicles is notably driving the automotive smart antenna market growth, although factors such as harsh conditions affecting the performance of automotive smart antennas may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the automotive smart antenna industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Automotive Smart Antenna Market Driver
The increasing connectivity technologies in vehicles is one of the key drivers contributing to the automotive smart antenna market growth. Primarily, connected infotainment services in vehicles provide all modern features of entertainment, comfort, and information like remote diagnostics and electronic control unit (ECU) software management. Moreover, remote diagnostics is witnessing increasing adoption in vehicles and will be crucial for the adoption of automotive antennas in mid-segment cars during the forecast period. Also, the increasing demand for luxury cars in emerging markets like China because of the increase in average disposable income would also be a driving factor for the global automotive smart antenna market. Such driving factors will drive the automotive smart antenna market growth during the forecast period.
Key Automotive Smart Antenna Market Trend
The growing number of strategic alliances in the market is one of the key automotive smart antenna market trends positively impacting the market growth. With the objective of either growing, increasing the pricing power of the supply chain, or eliminating competition, vendors are coming up with several strategic alliances in the automotive smart antenna market. Significantly, the number of strategic alliances in the market is high and this is mainly attributed to the high competition among vendors and the growth of the connected vehicle industry. Furthermore, to acquire potential market shares, vendors opt for strategic partnerships. Thus, such an increase in strategic partnerships will propel the automotive smart antenna market growth during the forecast period.
Key Automotive Smart Antenna Market Challenge
Harsh conditions affecting the performance of automotive smart antennas is one of the factors impeding the automotive smart antenna market growth. The generated data through connected cars can influence the growth of the automotive industry and the driving experience as there are some significant challenges associated with the generation and handling of data. Also, connected cars can generate huge data, including engine performance and driver performance data. However, data privacy and security concerns are critical challenges for individuals as well as organizations. This is because connected vehicle communication devices, including smart antennas, are interconnected to the Internet and depend on private and public networks. These conditions may affect the performance of automotive smart antennas and thereby limiting the automotive smart antenna market growth.
This automotive smart antenna market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the automotive smart antenna market encompasses successful business strategies deployed by the key vendors. The automotive smart antenna market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The automotive smart antenna market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
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35% of the market's growth will originate from North America during the forecast period. The US is the key market for the automotive smart antenna market in North America. Market growth in this region will be slower than the growth of the market in Europe.
The high demand for connected cars in the US and Canada will facilitate the automotive smart antenna market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 had adversely impacted the regional market. However, with the resumption of manufacturing operations in the automotive industry and the initiation of mass COVID-19 vaccination drives, the regional market showed steady growth in 2021. In North America, automotive production increased by around 7% in 2021 when compared to that in 2020. Thus, the growing adoption of connected vehicles is expected to boost the growth of the regional automotive smart antenna market during the forecast period.
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The automotive smart antenna market share growth by the passenger vehicles segment will be significant during the forecast period. Passenger vehicles are categorized into entry-segment, mid-segment, and premium or luxury-segment vehicles. Mid-segment and luxury passenger cars have major applications for smart antenna modules. As most premium-priced cars use a large number of radio technologies inside the vehicle, it fuels the demand for advanced smart antenna devices. Moreover, advanced automotive systems, which include engines, chassis, brakes, transmission, steering, and other systems, are highly used in passenger cars. Such increased use in passenger cars will drive the automotive smart antenna market growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive smart antenna market size and actionable market insights on post COVID-19 impact on each segment.
Technavio categorizes the global automotive smart antenna market as a part of the global automotive components and accessories market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the automotive smart antenna market during the forecast period.
Our report provides extensive information on the value chain analysis for the automotive smart antenna market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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Automotive Smart Antenna Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 14.5% |
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Market growth 2022-2026 |
40.03 mn units |
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Market structure |
Fragmented |
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YoY growth (%) |
13.91 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 35% |
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Key consumer countries |
US, China, Japan, Germany, and UK |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Ace Technologies Corp., Antenova Ltd., Beijing BDStar Navigation Co. Ltd., Calearo Antenne SPA, Continental AG, Harada Industry Co. Ltd., INFAC Corp., INPAQ Technology Co. Ltd., Koch Industries Inc., Lorom Industrial Co. Ltd., LS MTRON Ltd., Panasonic Corp., Samsung Electronics Co. Ltd., Taoglas Group Holdings Ltd., TE Connectivity Ltd., Yageo Corp., and Yokowo Co. Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Vehicle Type
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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