According to our latest market study on "Embedded Antenna System Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Antenna Type, Connectivity, and End Use," the embedded antenna system market is expected to reach US$ 5,685.63 million by 2028 from US$ 2,858.37 million in 2021; it is estimated to grow at a CAGR of 10.3% from 2021 to 2028.
The embedded antenna system market is expected to be driven by the growing adoption of 5G networks, which results from an increasing number of connected devices and a preference for high-speed internet connectivity. The penetration of 5G technology is driven by innovations in wireless communications, such as long-term evolution (LTE), enhanced mobility, and a surge in mobile data traffic. While 3G has been the definitive wireless broadband technology and 4G has rapidly expanded possibilities across various applications, the industry's focus has shifted to the development of 5G technology. This technology is expected to be the next development phase in the highly dynamic broadband business, providing fast data transfer rates, a high device connection density, and real-time services with low latency. These factors are expected to contribute to the growth of the embedded antenna system market.
The adoption of 5G networks is driving the growth of the embedded antenna system market, due to the increasing number of connected devices and the preference for high-speed internet connectivity. Mobile network operators have announced the deployment of 5G networks, particularly in urban centers. The US has taken the lead in this trend, with AT&T rolling out its 5G network in 2018, covering 230 million Americans in 14,000 cities and towns, with 5G+ available in parts of 38 cities in 2021. Additionally, the 5G deployment in China is growing rapidly, according to the GSA 2020 report. Telecommunications companies use 5G antennas to handle the high speed, capacity, and bandwidth of 5G networks. This trend is expected to create attractive opportunities for embedded antenna system market players during the forecast period. The adoption of 5G-based consumer electronics is also driving the deployment of embedded antennas in devices, which further drives the growth of the embedded antenna system market. Additionally, 5G mmWave technology is providing access to large bandwidth and capacity in frequency bands above 24 GHz, driving the market for 5G-mmWave-based embedded antennas, particularly in small-cell backhaul networks and in security and radar applications.
The global economy has suffered a downturn in 2020 due to the COVID-19 crisis, affecting various industries worldwide, including the embedded antenna system market. In 2020, embedded antenna system market players experienced supply chain disruptions and production issues due to government-mandated containment measures. In the Asia-Pacific region, the limited manufacturing capacity of consumer electronics manufacturers resulted in a significant decrease in demand for embedded antenna systems. However, with the easing of restrictions and the resumption of full operations in 2021, the demand for embedded antenna systems has grown. Additionally, embedded antenna system manufacturers are gradually reviving their manufacturing processes with a high workforce capacity, and the stabilization of supply chains during mid-2021 has further fueled the resurgence of the embedded antenna system market size.
The embedded antenna system market is being fueled by the increasing adoption of advanced technologies such as AI and IoT, as well as by various industries such as consumer electronics, communication, and automotive. North American companies are focusing on improving their business operations to meet the evolving customer demands. The penetration of 5G wireless technology, smart homes, and IoT-based devices is also increasing. The use of smartphones and smart home devices in developing countries in the Asia-Pacific region is expected to increase, leading to a higher demand for embedded antennas. Government investments in urban planning and smart city development in China and India are also expected to create new growth opportunities for IoT device providers and drive the demand for embedded antenna systems. Additionally, as the application areas of smartphones expand, the need for embedded antennas is expected to grow in the near future. Technological advancements and favorable government policies are also contributing to the high demand for embedded antenna systems. Companies in the embedded antenna system market are introducing improved products for various smart gadgets. The adoption of IoT-based devices is driving the growth of the embedded antenna system market in the South America region.
Key Findings of Study:
The market for embedded antenna systems is divided into five major regions, namely North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America (SAM). APAC holds a significant share of the embedded antenna system market. This region is becoming a major market for consumer electronics manufacturers due to favorable economic growth, an increasing disposable income, and a growing adoption rate of modern lifestyles. With the rising penetration rate of the internet, consumer electronics manufacturers are poised to launch advanced connected appliances in the region. According to Cisco System Inc., Asia Pacific is expected to have 13.5 billion networked devices/connections by 2023. Additionally, the healthcare sector is growing substantially due to the increasing deployment of healthcare institutions, which is fueling the adoption of connected devices in diagnostics, therapeutics, and monitoring. The flourishing communications and healthcare sectors are creating growth opportunities for embedded antenna system market players to strengthen their positions in Asia Pacific.
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