Market Research Future (MRFR), in its recently published research report, asserts that the global Chip Antenna market 2020 is expanding and poised to grow exponentially over the review period, recording a substantial market valuation of USD 6 billion and a healthy 15% CAGR in the forecast period.
The key market players operating in the global chip antenna market as identified by MRFR are Patron Co., Ltd. (South Korea), Fractus, S.A. (Spain), Mitsubishi Materials (Japan), Yageo Corporation (Taiwan), Taoglas (Ireland), Johanson Technology, Inc. (US), Pulse Electronics (US), Fractus Antennas (Spain), Vishay Intertechnology, Inc. (US)., Antenova M2M (UK) among others. These players are incessantly focused on new product development, mergers and acquisitions and promotional activities among others, in order to upsurge their competitiveness in the industry.
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Drivers and Restraints
The increasing demand of consumer electronics and increasing adoption of technologies such as the smart grid, Internet of Things, automation, and connected cars, are some of the key driving factors for the growth of chip antenna market. The key driving factor for the chip antenna market is low cost of this product compared to conventional antennas. Moreover, the growing trend of miniaturization in consumer electronics is anticipated to fuel the growth of the chip antenna market worldwide. There is significant opportunity in the near future for the expansion of the market in low power wide area network applications. The smart home industry is anticipated to expand consequently driving the Chip Antenna market owing to growing acceptance of IoT systems in smart home applications. Diverse wireless technologies, such as WLAN and Bluetooth among others are being continuously used to connect different IoT devices.
On the other hand, intricate design of chip antennas proves to be one of the major challenges inend-user market growth. Additionally, the chip antenna faces compatibility issues during its integration on the circuit board which is likely to lead to a slower rate of adoption.
The global chip antenna market is analyzed in various segments on the basis of applications, type, and end-users. By type, the market is bifurcated into ceramic multilayer chip antennas and dielectric chip antenna. Based on the application, the market is segmented into WLAN, ZigBee, Bluetooth, and ISM among others. Bluetooth segment is poised to dominate the application sector of chip antenna market by the end of the review period. The key reason is attributed to extensive usage of bluetooth technology for short-range wireless communication in various consumer electronic devices, which include smartphones, gaming consoles and wearable devices, headsets, among others. There is growing demand for these electronic devices, which consequently is driving the growth of the market for chip antenna. While, on the basis of end user, the Chip Antenna market is segmented into transportation, BFSI, industrial, IT & telecommunication, manufacturing, healthcare, government, and others.
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The geographical analysis of the global chip antenna market has been conducted in four major regions, comprising the Asia Pacific, North America, Europe, and the rest of the world (Latin America, the Middle East, and Africa).
Asia-Pacific is expected to lead the chip antenna market during the forecast period. The significant factors influencing the market in this region are expanding the consumer electronics industry and increasing the adoption of automation. There is budding demand for automobiles and consumer electronics from countries, including India, South Korea China, and Japan, which in turn is pushing the growth of the market in the Asia Pacific. North America is also poised to expand at a significant pace due to the early adoption of advanced technologies such as ZigBee, Wi-Fi, and others. Correspondingly, well-established economies such as the US, and Canada, are investing a large share on research and development activities of wireless transmission technologies, which is projected to fuel the market growth of chip antennas in the region.
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