Global On-Glass Antenna for Connected Vehicles Market Highlights Over 2022-2031
The global on-glass antenna for connected vehicles market is estimated to garner a significant revenue by growing at a CAGR of ~8% over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to growing concern towards automotive safety, and increasing penetration of IoT in the automotive industry with wireless technology incorporation and positioning technologies, including Wi-Fi, 3G/4 LTE, Bluetooth, vehicle-to-vehicle (V2V), and vehicle-to-everything (V2X) connecting technologies. In 2020, it was estimated that over 45% of all new cars shipped worldwide were connected cars, and by 2030, this share is expected to double to nearly 95%.
On-glass antenna, embedded into a laminated vehicle window glass, is used for 5 GHz WLAN/Wi-Fi, dedicated short-range communications (DSRC), vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) communications. By installing an on-glass antenna on the vehicle, radio waves can be transmitted and received using beamforming, which concentrates radio waves in a specific direction, and multiple-input multiple-output (MIMO) functionality. This improves communication speed by simultaneously transmitting different data from multiple antennas. This allows stable, high-speed communication even for vehicles in operation.
However, growing concern towards automotive safety as these systems are prone to technological hacking, which can compromise the security of the vehicles, is expected to operate as a key barrier to the growth of the market. Furthermore, declining production rate in the global automotive industry due to lower consumer confidence on the back of an increase in interest rates, higher fuel prices, and a hike in vehicle insurance costs is also anticipated to hinder the growth of the market.
The market is segmented by connection technology into 3G, 4G, and 5G, out of which, the 4G segment is anticipated to hold the largest share of the market over the forecast period owing to extensive utilization of 4G network. Further, several governments across the globe are emphasizing on the deployment of 5G spectrum which is expected to revolutionize the current transport systems. Owing to this factor, the 5G segment is estimated to witness highest growth during the forecast period.
The market is further segmented on the basis of vehicle type into passenger vehicle and commercial vehicle, out of which, the passenger vehicle segment is estimated to witness highest growth during the forecast period. The growth of the segment is attributed to increasing implementation of on-glass antennas in passenger vehicles for efficient utilisation of various wireless technologies, such as GPS, satellite radio, Wi-Fi, bluetooth, and electronic toll collection.
Major Macro-Economic Indicators Impacting the Market Growth
The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.
Global On-Glass Antenna for Connected Vehicles Market Regional Synopsis
Geographically, the global on-glass antenna for connected vehicles market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Asia-Pacific region is projected to witness fastest growth over the forecast period and hold the largest share of the market. The growth of the market in the region is attributed to the significant demand for automotive smart antennas on the back of strong economic growth, growing population, rapid urbanization, and growing connected cars. Furthermore, growing cellular applications and increasing demand for safety features in vehicles are driving emerging economies, such as China and India, along with Japan and South Korea, to introduce vehicle and road safety regulations. As of 2021, the connected car fleet in China and Japan was approximately 68 and 8 million units, respectively. These numbers are expected to grow to approximately 170 and 27 million units, respectively, by 2030. This is anticipated to provide untapped business opportunities for market players to invest in the region.
The global on-glass antenna for connected vehicles market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
Our in-depth analysis of the global on-glass antenna for connected vehicles market includes the following segments:
By Connection Technology
By Antenna Type
- Broadcasting Antenna
- Communication Antenna
- Intelligent Antenna
By Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
- Growing concern towards automotive safety
- Increasing penetration of IoT in the automotive industry with wireless technology incorporation and positioning technologies
- Growing concern towards automotive safety as these systems are prone to technological hacking
- Declining production rate in the global automotive industry
Top Featured Companies Dominating the Market
- Continental AG
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- HARADA INDUSTRY CO., LTD.
- TE Connectivity
- Yokowo co., ltd.
- HELLA GmbH & Co. KGaA
- Laird Connectivity
- Telefonaktiebolaget LM Ericsson
- AGC Inc.
- SCHAFFNER HOLDING AG