Technavio has released its latest global automotive antenna module market research report. This report highlights the Vendor Landscape, Key Market Segments, Regions, and Latest Trends and Drivers. It estimates the growth of this market to be USD $525.67 Million from 2020 to 2025. This research report by Technavio further infers that the increasing adoption of smart toys is driving this market's growth.
The market structure is fragmented due to the presence of several global and regional vendors. Amphenol Corp., ANTONICS-ICP GmbH, Continental AG, HARADA INDUSTRY Co. Ltd., Kymeta Corp., Laird Plc, Lorom Industrial Co. Ltd., Schaffner Holding AG, Taoglas Group Holdings Ltd., and TE Connectivity Ltd. are some of the few key vendors of this market. Vendors are competing to maintain their market position in the market. To succeed in this market, vendors must focus on providing automotive antenna modules at competitive prices.
Vendors operating in the market are adopting various organic and inorganic growth strategies such as launching technologically advanced products and M&As to remain competitive in the market.
For instance, in January 2019, Continental AG collaborated with a German-based start-up company, Automotive Artificial Intelligence to enhance its approach for virtual development of its automated driving technology.
View more about the market's vendor landscape highlights with a comprehensive list of vendors and their offerings.
Key Market Segmentation
Segmentation by Vehicle Type: Passenger Cars & Commercial vehicles
The Passenger cars segment contributed greatly to the overall market growth in 2020. Passenger cars were the largest segment of the market in 2020 and will continue to remain as the largest segment of the market in 2025. The rising demand for luxury vehicles and improvements in wireless technologies are driving the growth of the segment.
Segmentation by Frequency Range: Low, Medium and High
The medium-range segment generated maximum revenue in the market in 2020. Medium-range automotive antenna modules are expected to account for maximum sales in the market during the forecast period.
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Regional Market Outlook
North America is leading the market with a contribution of 40% to the overall market in 2020 and would increase its contribution to a notable number of the global automotive antenna module market by 2025. North America will generate maximum growth across all the years of the forecast period between 2020 and 2025. The market growth in North America is driven by the higher adoption of EVs, pick-up trucks, and other light commercial vehicles (LCVs), especially in the US.
APAC would be the fastest-growing region within the overall market between 2020 and 2025.
Apart from regions, if we look at the country-wise market growth, the US, Germany, France, China, Japan, and the UK will contribute to the highest market growth.
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Latest Trends Driving the Global Automotive antenna module Market
Growing penetration of connectivity in cars:
Most of the modern vehicles sold in developed regions like the US and some developing markets such as China now come with factory-fitted remote diagnostics systems. This has significantly increased the adoption of automotive antennas in mid-segment cars. Besides, the increasing demand for luxury vehicles and mid-segment vehicles in emerging economies has increased the number of connected vehicles, which is driving the market growth.
The growing popularity of cellular V2X technologies:
The vehicle-to-everything (V2X) technology is one of the recent developments that is gaining prominence in the automotive industry. Developments in 4G LTE and 5G wireless technologies are currently supporting the testing and adoption of cellular V2X communication technology in the automobile industry. With the increased deployment of 4G and 5G technologies worldwide, the adoption of cellular V2X technologies is expected to pace up and have a positive impact on the market's growth.
Find additional information about various other market drivers & Trends mentioned in the FREE sample report by Technavio.
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