Chip Antenna Market Expected to Generate $5.3 Billion By 2031: Allied Market Research
Surge in the penetration of 5G technology and rise in demand for low-power wide-area (LPWA) networks in IoT applications serve as potential opportunities for the expansion of the global chip antenna market. Based on region, Asia-Pacific held the largest share in 2021, contributing to Nearly two-fifths of the global chip antenna market share.
Portland, OR, Feb. 02, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global chip antenna market garnered $1.4 billion in 2021, and is estimated to generate $5.3 billion by 2031, manifesting a CAGR of 14.3% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
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Report Coverage and Details:
Market Size in 2021
Market Size in 2031
No. of Pages in Report
Type, Application, End User, and Region.
The emergence of the internet of things (IoT) and machine-to-machine interfaces in different verticals of businesses
The rapid increase in the number of connected devices
Growing inclination toward high-speed internet connectivity
Technological advancements in wireless communications, such as long-term evolution (LTE), enhanced mobility, and mobile data traffic surge
Surge in the penetration of 5G technology
Rise in demand for low-power wide-area (LPWA) networks in IoT applications
Lack of skilled employees
High construction and maintenance costs for the infrastructure required to support flat panel antennas
The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global chip antenna market, owing to implementation of global lockdown which resulted to have a significant impact on the growth of the outdoor manufacturing and industrial sectors in 2020.
However, surge in deployment of advanced networking and communication technologies witnessed relatively high growth during 2021.
Nevertheless, the market was principally hit by several obstacles created amid the COVID-19 pandemic such as lack of skilled workforce availability and delay or cancelation of projects across the globe.
In contrast, rise in penetration of Internet of Things hardware across industrial, manufacturing, and commercial sectors is expected to drive the growth of the chip antenna market during the forecast period.
The research provides detailed segmentation of the global chip antenna market based on Type, Application, End User, and Region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
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Based on type, the LTCC chips segment held the highest share in 2021, accounting for more than two-thirds of the global chip antenna market, and is expected to continue its leadership status during the forecast period. However, the dielectric chip antenna segment is expected to register the highest CAGR of 14.8% from 2022 to 2031.
Based on application, the Bluetooth segment accounted for the highest share in 2021, contributing to nearly one-thirds of the global chip antenna market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the dual band antennas segment is expected to manifest the highest CAGR of 16.9% from 2022 to 2031.
Based on end user, the telecommunication segment accounted for the highest share in 2021, holding nearly two-fifths of the global chip antenna market, and is expected to continue its leadership status during the forecast period. However, the healthcare segment is estimated to grow at the highest CAGR of 17.4% during the forecast period.
Based on region, Asia-Pacific held the largest share in 2021, contributing to nearly two-fifths of the global chip antenna market share, and North America is projected to maintain its dominant share in terms of revenue in 2031. In addition, the LAMEA region is expected to manifest the fastest CAGR of 17.6% during the forecast period.
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Leading market players of the global chip antenna market analyzed in the research include Johanson technology, inc., Vishay Intertechnology, Inc., Antenova Ltd., Mitsubishi Materials Corporation, Taoglas, YAGEO Group, Pulse Electronics, Ignion, Sunlord, Partron Co., ltd. The report provides a detailed analysis of these key players of the global chip antenna market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others 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.
Key Benefits For Stakeholders:
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the chip antenna market analysis from 2021 to 2031 to identify the prevailing chip antenna market opportunity.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the chip antenna market outlook assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global chip antenna market trends, key players, market segments, application areas, chip antenna market forecast and market growth strategies.
Chip Antenna Market Key Segments:
Dielectric Chip Antenna
Dual Band/Multi Band
By End User:
North America (U.S., Canada, and Mexico)
Europe (U.K., Germany, France, Italy, Spain, Russia, Netherlands, Belgium, Poland, and Rest of Europe)
Asia-Pacific (China, Japan, India, South Korea, Australia, Malaysia, Thailand, Philippines, Indonesia, and Rest of Asia-Pacific)
LAMEA (Latin America, Middle East and Africa)
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