While increasing connectivity technologies in vehicles is a key growth driver, the direction of the antenna and its ability to detect signals is called a major challenge for the market
As per Technavio’s latest market research, the automotive antenna module market size is estimated to grow by $ 1,071.96 million from 2022 to 2027. It further added that the market’s growth momentum will be progressing at a CAGR of 10.07% during the forecast period.
The report titled ‘Global Automotive Antenna Module Market 2023-2027’ analysed the market dynamics and jotted down the key drivers of the industry.
Talking about the key trends, the report mentioned that the increasing craze for cellular V2X technologies and growth in cellular technologies such as 4G LTE and 5G is increasing the scope for testing and adoption of Vehicle-to-everything (V2X) technology.
Terming the increasing connectivity technologies in vehicles as the key growth driver, the report observed that the rising consumer demand for entertainment, comfort and other features such as remote diagnostics and ECU software management have increased the penetration of connectivity technologies in vehicles.
Technavio’s report also pointed out the major challenges ahead, one being the direction of the antenna and its ability to detect signals. Positioning antennas to pick signals from any direction is another challenge faced by automotive manufacturers. The lack of signal strength is another barrier to the adoption of telematics in many regions. It said that antenna module manufacturers are finding the production of such antennas a major challenge, which is hindering the growth potential in the market.
Since the technology is being tested by several major automotive brands to facilitate communication between passenger cars, motorcycles, and road infrastructure, the report expects this trend to have a positive impact on the growth of the global automotive antenna module market during 2023-2027.
