LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global automotive antenna module market to grow at a CAGR of close to 8% during the forecast period, according to their latest report.
The report further segments the global automotive antenna module market by end-user (original equipment manufacturer (OEMs) and aftermarket), by vehicle type (passenger cars and commercial vehicle (CV)), by frequency range (medium frequency, high frequency, and low frequency), and by geography (the Americas, EMEA, and APAC).
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Technavio analysts highlight the following three market drivers that are contributing to the growth of the global automotive antenna module market:
- Economies of scale owing to adoption of satellite antennas in smart homes
- Rise of embedded cellular connectivity in vehicles to drive antennas adoption
- Drive toward autonomous vehicle is crucial to automotive antenna market
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Economies of scale owing to adoption of satellite antennas in smart homes
Economies of scale play a crucial role in today’s market to leverage the use of technology to maximum customers. For instance, the adoption of displays in consumer electronics allowed the automotive infotainment vendors to reduce the price of the system owing to a reduction in the display prices. Hardware cost remains a primary consideration for OEMs, and by keeping a close eye on the consumer goods industry, the OEMs can adopt new technology in cost-effective ways. The satellite antennas are the latest development in the automotive antenna industry. These are more effective and reliable than traditional antennas, and their adoption is expected to be a positive trend for the growth of the antenna module market.
According to Keerthi Balu, a lead analyst at Technavio for automotive electronics research, “Kymeta is the vendor that developed satellite antennas for automotive use. Kymeta developed satellite antennas by collaborating with a consumer electronics company, Sharp. This allowed the company to manufacture low-cost satellite antennas for high-speed connectivity in vehicles. The deployment of satellite antennas in the consumer devices is the prime factor behind mass-production of the antennas on by Sharp and Kymeta. Kymeta effectively leveraged the economies of scale in bringing the cost of the satellite antenna to the consumer price point from the high cost associated with this functionality earlier. Therefore, reduced price will now allow the automotive OEMs to adopt the satellite antenna technology during the forecast period.”
Rise of embedded cellular connectivity in vehicles to drive antennas adoption
Vehicles are witnessing the increasing adoption of wireless connectivity to permit the users to stay connected to the external world while driving. Apart from enhancing the driving pleasure through navigation capabilities and other features, the connectivity also increases the safety quotient of the driver and passengers. Embedded cellular connectivity is the most reliable method to provide connectivity to the car. The rising adoption of this technology in the passenger car segment is a crucial driver for the automotive antenna market.
The primary reason for the adoption of the antenna for wireless connectivity in vehicles is the requirement for different frequency by each communication channel. This has created the need for a specific antenna to capture the signal. The growing wireless features in cars will push the adoption of automotive antenna module significantly during the forecast period.
Drive toward autonomous vehicle is crucial to automotive antenna market
The automotive industry aims to develop and provide an autonomous vehicle electronically driven by onboard computers. The vehicle should ideally navigate with the help of information received from its connected vehicle network and from the Internet of Things. This aim is directing the industry to adopt new wireless technologies, and automotive antenna is one of the essential components for achieving the connectivity level in vehicles. The continuous drive of OEMs toward developing an autonomous vehicle for increasing overall efficiency and safety of the vehicle will push the demand for the automotive antenna significantly.
“The adoption of driver assistance technologies such as advanced driver assistance system by the luxury cars is witnessing satisfaction among the users. This will initiate the adoption of ADAS in the mid-segment during the forecast period as the vendors of ADAS will try to get the benefit of economies of scale for reducing the price of the system. ADAS uses wireless network connectivity to offer improved value to the customer by using external data for the vehicle to vehicle or vehicle to infrastructure connectivity,” says Keerthi.
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