Antenna Market to Reach $40.1 Billion, Globally, by 2032 at 9.1% CAGR: Allied Market Research

The antenna market is driven by factors such as increase in adoption of chip antenna in Internet of Things devices, and increase in adoption of chip antenna in consumer electronics industry

PORTLAND, Ore., Sept. 6, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Antenna Market, by Technology Type (SIMO, MIMO, MISO, and Others), Application (Cellular systems, Radar, WiFi Systems, and Others) and End User (Consumer Electronics, Healthcare, Aerospace and Defense, Telecommunication, and Others): Global Opportunity Analysis and Industry Forecast, 2023–2032". According to the report, the antenna market generated $16.8 billion in 2022, and is projected to reach $40.1 billion by 2032, registering a CAGR of 9.1% from 2023 to 2032.

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An antenna has an essential role to play within the communication systems. It transmits and receives electromagnetic waves within radio wave frequencies. There are several different types of antenna, and each has a specific purpose, size, and shape.

Prime determinants of growth

The Antenna market is expected to witness notable growth during the forecast period, owing to increase in adoption of chip antenna in Internet of Things devices, and increase in adoption of chip antenna in consumer electronics industry drives market growth. Moreover, development of 5G is expected to provide lucrative opportunities for the growth of the Antenna market during the forecast period. On the contrary, lack of uniform frequency range for wireless applications is the restraint for Antenna market growth during the forecast period.

Report coverage & details:

Covid-19 Scenario

• At the outset of the COVID-19 pandemic, the antenna market experienced a downturn due to supply chain challenges and decreased demand.
• Nevertheless, the industry quickly adjusted as the demand for wireless communication, 5G infrastructure, and IoT devices grew alongside remote work and connectivity requirements. This shift led to innovation and a subsequent rebound in the market.

The MIMO segment to maintain its leadership status throughout the forecast period.

Based on technology type, the MIMO segment held the highest market share in 2022, accounting for more than half of the global antenna market revenue, and is estimated to maintain its leadership status throughout the forecast period, as it is known for its small size & flexibility, and it is widely used in consumer electronics. Moreover, the MIMO segment is projected to manifest the highest CAGR of 9.5% from 2023 to 2032, driven by its ability to counter signal degradation and interference ensures its pertinence in delivering consistent connectivity, even in challenging scenarios. Beyond telecommunications, MIMO finds relevance in domains such as autonomous vehicles, smart cities, and industrial automation, where reliable, high-capacity wireless communication holds vital importance.

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The cellular systems segment to maintain its leadership status throughout the forecast period.

Based on application, the cellular systems segment held the highest market share in 2022, accounting for around three-fifths of the global antenna market revenue and is estimated to maintain its leadership status throughout the forecast period. In addition, the radar segment is projected to manifest the highest CAGR of 9.6% from 2023 to 2032, due to increase in opportunities in emerging domains such as self-driving vehicles, drone identification, and 5G infrastructure support.

The telecommunication segment to maintain its leadership status throughout the forecast period.

Based on end user, the telecommunication segment held the highest share in 2022, accounting for nearly two-fifths of the global antenna market revenue and is estimated to maintain its leadership status throughout the forecast period. In addition, the telecommunication segment is projected to manifest the highest CAGR of 9.6% from 2023 to 2032 due to increase in consumer electronics sector.

North America to maintain its dominance by 2032.

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for nearly two-fifth of the global antenna market revenue. This region is expected to witness the fastest CAGR of 9.5% from 2023 to 2032 owing to the increase in adoption of the 5G network which has accelerated due to the rise in connected devices and fast internet connectivity. 

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Leading Market Players: -

• Amphenol Corporation
• Antcom
• Antenova Ltd.
• Molex (Koch Industries)
• Panorama Antennas
• PCTEL
• Pulse Electronics (YAGEO Group)
• Shenzhen Xinwei Communication Co., Ltd.
• STI-CO
• TE Connectivity

The report provides a detailed analysis of these key players of the global antenna market. These players have adopted different strategies such as product development, and product launch to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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