Northbrook, IL -- (SBWire) -- 11/05/2018 --According to the new market research report "Automotive Smart Antenna Market by Vehicle (Light Duty Vehicle and Commercial Vehicle), Frequency (High, Very High, and Ultra-High), Component (Transceivers, ECU, and Others), Electric Vehicle (BEV, HEV, and PHEV), and Region - Global Forecast to 2025", published by MarketsandMarkets™, The global Automotive Smart Antenna Market is estimated to be USD 2.3 billion in 2018 and is projected to grow to USD 5.9 billion by 2025, at a CAGR of 14.2% during the forecast period. The growing cellular applications for connected vehicles and increasing connectivity-based safety features are some of the key drivers fueling the growth of this market.
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The very high-frequency segment to hold the largest share in the automotive smart antenna market, by frequency
Very high frequency ranges between 800 MHz and 2000 MHz. The navigation-related feature is one of the prominent and leading applications in the automotive industry. The navigation and cellular connectivity applications include convenience and safety features. The convenience features are in a high demand from the customer-end, whereas connectivity-based safety features are being mandated by the government. The growing concerns over traffic congestion and the rising demand for dashboard features are the primary factors supporting the very high-frequency segment in the automotive smart antenna market. Hence, the very high-frequency segment is estimated to contribute the largest revenue share in the automotive smart antenna market.
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Ultra-high frequency is expected to grow at the highest CAGR in the global Automotive Smart Antenna Market during the forecast period
The applications of ultra-high frequency are based on long-range communication. Applications such as satellite radio (SDARS), digital video broadcasting (DVB), cellular connectivity, WLAN, and V2V communication fall under ultra-high frequency. The ultra-high frequency segment is estimated to be the fastest owing to an increase in the number of connected cars. The connected car concept has brought the next growth cycle for the automotive industry with loads of convenience and safety features. These features are making the ultra-high frequency segment grow at the highest CAGR during the forecast period.
The Asia Pacific is expected to hold the largest market size in the Automotive Smart Antenna Market during the forecast period
The Asia Pacific Automotive Smart Antenna Market is estimated to be the largest, in terms of value, in 2018. As connectivity-based safety regulations have been established in Japan and South Korea, the demand for smart antennas in these countries is anticipated to increase during the next 5 years.
The European Automotive Smart Antenna Market is estimated to be the second largest, by value, in 2018. The increasing concerns over the safety of vehicles and passengers on the road have led to the adoption of intelligent transportation systems in Europe. The European Transport Safety Council (ETSC) focuses on the adoption of intelligent transportation systems. Also, the European countries have a strong network infrastructure to provide seamless services for connected cars. Hence, Europe presents a major growth opportunity for the automotive smart antenna market.
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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Automotive Smart Antenna Market. The key players in the market Laird (UK), Continental (Germany), Kathrein (Germany), Ficosa (Spain), and TE Connectivity (Switzerland).
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Automotive Smart Antenna Market Worth $5.9 Billion by 2025
[120 Pages Report] Automotive Smart Antenna Market by Vehicle (Light Duty Vehicle and Commercial Vehicle), Frequency (High, Very High, and Ultra-High), Component (Transceivers, ECU, and Others), Electric Vehicle (BEV, HEV, and PHEV), and Region.