The Technavio report anticipates that the automotive antenna module market will grow $525.67 million in the forecasted period
Technavio’s latest automotive antenna module market report anticipates a market growth in this space of $525.67 million from 2020 to 2025, driven mostly by the fact that vehicles are becoming increasingly connected.
“The global automotive antenna module market is expected to grow during the forecast period, owing to various factors such as growing focus on autonomous vehicles; regulatory changes that mandate safety equipment in automobiles; the increasing adoption of connectivity technology for developing advanced vehicles; and the presence of global and local vendors that offer a wide range of automotive antenna modules,” the report states.
Market growth is expected to be particularly high in North America, which Technavio predicts will contribute 40% of the global market growth during the forecast period.
“The high demand for automobiles in the U.S. will drive the automotive antenna module market growth in North America during the forecast period,” the company said.
These predictions of growth are notable considering many factors have hindered the automobile market the past few years, including the dip in demand and manufacturing output, as well as ongoing supply chain challenges, all the result of the COVID-19 pandemic.
“The stringent lockdowns [resulting from the pandemic] slowed down operational activities across industries, including automotive manufacturing, which led to a sudden decline in the demand for automotive antenna modules,” commented Technavio. “Moreover, supply chain disruptions hampered the manufacturing operations of vendors engaged in developing automotive antenna modules. All these factors cumulatively slowed down the growth of the global market in focus, especially in 2020.”
But the company adds that the market is rebounding thanks to the growing demand for advanced passenger vehicles and the increase in the number of automobile vendors globally.
Lastly, as mentioned previously, the report points to a growing popularity of cellular V2X (C-V2x) technologies, and how that trend is contributing to a booming market.
“The growing popularity of cellular V2X technologies is supporting the automotive antenna module market share growth,” said the firm. “C-V2X technologies for connectivity would have a positive impact on the global automotive antenna module market in the near future with the adoption of 4G LTE for connectivity in a few regions.”
Qualcomm and its “the digital chassis” concept, which redefins of the vehicle base framework to include digital components based on the company’s Snapdragon processors, is one company contributing majorly to the V2X space.
At CES 2022, Qualcomm CEO Cristiano Amon revealed that Honda, Volvo and Renault will use elements of the company’s digital chassis components in their next-generation vehicles.
