LONDON--(BUSINESS WIRE)--The global multi-band antenna market is expected to register a CAGR of over 12% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the market’s growth is the rapid increase in data traffic. The use of communication and connected devices such as smartphones and tablets has increased at an exponential rate. In 2016, the global mobile data traffic grew by 63%. By 2021, the monthly global mobile data traffic will be 49 exabytes by 2021, and the annual traffic will exceed by half a zettabyte. The mobile data traffic will grow at a CAGR of 47% from 2016-2021.
This market research report on the global multi-band antenna market 2018-2022 provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio predicts an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the advent of 5G technology as one of the key emerging trends in the global multi-band antenna market:
Global multi-band antenna market: Advent of 5G technology
The limitations of present technologies, such as 2G, 3G, and 4G, are creating a need for an alternative technology. The current technologies have limited bandwidth, lack of real-time applications, high latency, and reduced mobility handling. The 5G technology has the potential to deliver and provide seamless, continuous connectivity for business applications. Several industries, especially automotive and healthcare, experience the effects of the shift to 5G.
“The growing adoption of the 5G technology is prompting established telecommunication companies and industry groups to invest in 5G-related infrastructure. Wireless networking engineers are working towards designing technologies to deliver data with less latency and bring high download speeds of 20 GB per second to users. Thus, 5G technology is expected to record complete implementation during the forecast period and is expected to have a significant impact on the multi-band antenna market,” says a senior analyst at Technavio for research on machine to machine (M2M) and connected devices.
Global multi-band antenna market: Segmentation analysis
This market research report segments the global multi-band antenna market into the following end-users (wireless communications, aerospace, and automotive) and key regions (the Americas, APAC, and EMEA).
The wireless communications segment held the largest market share in 2017, accounting for nearly 51% of the market. This end-user segment is expected to dominate the global market throughout the forecast period.
The Americas held the highest share of the global multi-band antenna market in 2017, accounting for a market share of approximately 45%. The market share occupied by this region is anticipated to decrease by nearly 4% during 2018-2022.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market sizing
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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