September 30, 2022 09:15 ET | Source: Verified Market Research Verified Market Research
Boonton, New Jersey, UNITED STATES
Jersey City, New Jersey, Sept. 30, 2022 (GLOBE NEWSWIRE) -- Verified Market Research recently published a report, “Automotive Smart Antenna Market” By Type (Passenger Vehicle and Commercial Vehicle), By Product (Very High Frequency, High Frequency, and Ultra-High Frequency), and By Geography.
As per the deep research carried out by Verified Market Research, the global Automotive Smart Antenna Market size was valued at USD 2,601.81 Million in 2019 and is projected to reach USD 5,651.80 Million by 2027, growing at a CAGR of 14.51% from 2020 to 2027.
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Global Automotive Smart Antenna Market Overview
The steady increase in wireless technology incorporation and positioning technologies, including Wi-Fi, 3G/4 LTE, Bluetooth, vehicle-to-vehicle (V2V), and Vehicle-to-Anything (V2X) connecting technologies are predicted to propel the growth of the global automotive smart antenna market over the current and coming years in vehicles. In the current technologically sound era, the need for the vehicle to vehicle connectivity or vehicle to infrastructure connectivity is gaining traction to track down the real-time data generation and processing. Increasing automotive vehicle fleet rising automobile production across the globe, and an upsurge in luxury vehicle demand are among the factors anticipated to boost the global automotive smart antenna market growth during the forecast period.
Furthermore, growing concern towards automotive safety is anticipated to bolster the demand for the automotive smart antenna market. On the other hand, global automotive production has witnessed a significant downfall owing to lower consumer confidence due to an increase in interest rates, higher fuel prices, and a hike in vehicle insurance costs. The declining production rate in the automotive industry subsequently creates a hindrance to the growth of the automotive smart antenna market. Also, some fleet operators are unsure of the installation of the automotive smart antenna system in fear of data breach which results in a setback for the market growth.
The major players in the market are Continental AG, Harada, TE Connectivity, Denso, Yokowo, Hella, Laird, Schaffner, and Others.
Verified Market Research has segmented the Global Automotive Smart Antenna Market On the basis of Type, Product, and Geography.
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Top Automotive Smart Antenna Manufacturers, utilizing the miracles of science, innovating a safer world
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