Increasing wireless communications, industrial automation, robotics, and self-driven vehicles to drive the growth of the global smart antenna market through 2026.
According to TechSci Research report, “Global Smart Antenna Market By Technology (SIMO, MIMO and MISO), By Type (Switch Multibeam Antenna and Adaptive Array Antenna), By Application (Technological and Cellular), By Region, Competition, Forecast & Opportunities, 2016-2026”, the global smart antenna market was valued at USD8.49 billion in 2020 and is expected to grow at a CAGR of 13.92% during the forecast period owing to the rising demand for wireless communications, industrial automation and robotics across the globe. High speed broadband connectivity, increased satellite communications, terrestrial TV networks, military communications, etc. are further propelling the market. However, increased implementation costs and large sizes are expected to hamper the market growth during the forecast period.
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The global smart antenna market can be segmented based on technology, type, application, and region. Based on technology, the market can be segmented into SIMO, MIMO, and MISO. The MIMO segment held 48.01% share in 2020 and is expected to grow at a CAGR of 14.58% in the future. In terms of type, the market can be bifurcated into switched multibeam antenna and adaptive array antenna. In 2020, the switch multibeam antenna segment dominated the market with a share of 51.29% and is expected to decrease in the upcoming years due to the adoption of adaptive array antennas which provide a better signal quality and range. Based on applications, the market can be segmented into technological and cellular. The cellular segment captures the market and had a share of 52.77% in 2020. It is expected to dominate the market in the forecast period as well with a share of 53.28% in 2026 due to increasing mobile communication usage.
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Ericsson, Huawei Technologies Co. Ltd., Sierra Wireless Inc., Nokia Corporation Qualcomm Technologies Inc., Xilinx Inc., Airgain Inc., CommScope Inc., ZTE Corporation, Samsung Electronics Pvt Ltd are among the leading players operating in the global smart antenna market. Companies operating in the market are using strategies such as product advancement through the addition of new features, mergers, and collaborations to boost their share.
“North America accounted for the highest share of 26.86% in 2020 due to widespread adoption of 5G in industries as well as for communication purposes, the region is expected to dominate the market in the forecast period as well. However, Asia-Pacific is expected to be the fastest growing region with a CAGR of 14.56% during the forecast period. Countries falling under the Asia-Pacific region like China, Japan and South Korea have done huge investments in R&D and are technologically well versed. Also, with the advent of 5G technology, which provides high reliability and security, real time monitoring, and low latency in the industrial as well as healthcare sector, the demand for smart antennas in the region is likely to increase in the upcoming future.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Smart Antenna Market By Technology (SIMO, MIMO and MISO), By Type (Switch Multibeam Antenna and Adaptive Array Antenna), By Application (Technological and Cellular), By Region, Competition, Forecast & Opportunities, 2016-2026” has evaluated the future growth potential of the global smart antenna market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global smart antenna market.
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