Antenna Market Size is Estimated to Reach $40.1 Billion by 2032 | Growing at a CAGR of 9.1%

Global Antenna Market

PORTLAND, OR, UNITED STATES, September 18, 2023/EINPresswire.com/ -- Allied Market Research published a report on Antenna Market¹ by Technology Type, Application, End User: Global Opportunity Analysis and Industry Forecast, 2023-2032. The antenna market was valued at $16.8 billion in 2022, and is estimated to reach $40.1 billion by 2032, growing at a CAGR of 9.1% from 2023 to 2032.

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The Internet of Things (IoT) ecosystem is growing at a fast rate owing to availability of various smart products for domestic and industrial applications. The application areas of IoT include smart homes, smart grids, industrial internet, and connected cars, among many others. Antennas are small, which makes them the best option for low-frequency applications for smaller design of IoT solutions.

The antenna industry is expected to grow during the forecast period, owing to, owing to increase in adoption of chip antenna in internet of things devices, and increase in adoption of chip antenna in consumer electronics.

In essence, an antenna system constitutes the vital bridge connecting electronic devices with the surrounding environment, enabling wireless communication across various sectors. It assumes a pivotal role in dictating efficiency, coverage scope, and overall performance within a communication network or device.

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Competitive Analysis:

The company profile section of the antenna market report covers strategic developments, business overview, product offerings, and financial performance of the companies. It also highlights the strategies adopted by companies such as products launch, agreements, partnerships, acquisitions mergers, collaborations, joint ventures, research & development investment, and regional expansion in the past few years.

Some of the major key players of the global antenna market include,

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

The surge in wireless technologies such as 5G, Internet of Things (IoT), and satellite communications are expected to stimulate the need for advanced antennas capable of offering faster data speeds, enhanced connectivity, and broader coverage. As these technologies continue to evolve, antennas are anticipated to play a pivotal role in ensuring smooth communication for both personal and industrial devices.
In addition, the expansion of self-driving vehicles and intelligent transportation systems are anticipated to further propel the antenna market growth. With the automotive sector transitioning toward more interconnected and autonomous vehicles, the requirement for specialized antennas optimized for vehicular communication and navigation systems is projected to experience growth.

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Key Findings of the Study

• The MIMO segment was the highest revenue contributor to the antenna market size, with $8,768.92 million in 2022.
• The cellular systems segment was the highest revenue contributor to the antenna market share, with $10,103.9 million in 2022.
• The telecommunication segment was the highest revenue contributor to the antenna market growth, with $6,300.44 million in 2022.
• Asia-Pacific was the highest revenue contributor, accounting for $6,151.47 million in 2022, and is estimated to reach $15,201.36 million by 2032, with a CAGR of 9.5%.

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¹ https://www.alliedmarketresearch.com/antenna-market-A200323