Global Sales of 5G Smart Antenna is Expected to Accelerate at a Whopping 10.8% CAGR, Reaching US$ 16.7 Billion by 2031 | Transparency Market Research Report
Rise in demand for autonomous vehicles and the surge in demand for high-speed data are significant growth drivers of the 5G smart antenna market
Wilmington, Delaware, United States, June 23, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The global 5G smart antenna market is poised to accumulate a valuation of US$ 16.7 billion in 2031. From 2023 to 2031, a CAGR of 10.5% is expected for the global 5G smart antenna market.
5G smart antennae are used in a wide range of applications in various industries. In smart cities, smart antennas can enhance connectivity for IoT devices, enable intelligent transportation systems, and support remote monitoring and control.
In industrial settings, smart antennas can improve wireless communication in factories and enable real-time data exchange for automation and robotics.
Faster data rates, increased network capacity, and enhanced reliability become important as networks transition to 5G. The implementation of smart antennas is one of the key components driving the capabilities of 5G networks.
There is increasing demand for 5G smart antennae in the automotive industry, besides the usual applications in the IT & telecom sector. Vehicle-to-everything (V2X) communication plays a vital role in enabling cooperative driving and improving overall road safety.
5G smart antennas facilitate V2X communication by providing robust and reliable connectivity between vehicles, infrastructure, pedestrians, and other road users. They support the exchange of critical information such as traffic conditions, hazard warnings, and cooperative maneuvering, thus enhancing the capability of autonomous vehicles.
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Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | US$ 6.8 Bn | |
| Estimated Value | US$ 16.7 Bn | |
| Growth Rate – CAGR | 10.8% | |
| Forecast Period | 2023-2031 | |
| No. of Pages | 210 Pages | |
| Market Segmentation | Type, Technology, Network Type, RAN Architecture, Application, End-use Industry, Region | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, South America | |
| Companies Covered | Airspan Networks Inc., Ericsson AB, HARMAN International, Huawei Technologies Co., Ltd., Mitsubishi Electric Corporation, National Instruments Corp, NEC Corporation, Nokia corporation, Qualcomm Technologies, Inc., Samsung Electronics Co., Ltd., ZTE Corporation | |
Key Takeaways from the Market Study
- As of 2022, the 5G smart antenna market was valued at US$ 6.8 billion
- In 2023, the global market for 5G smart antennae is anticipated to reach a valuation of US$ 7.51 billion
- A year-over-year growth rate of over 10% is anticipated for the market from 2022 to 2023
- By technology, multiple input multiple output (MIM) 5G smart antennae accounted for 39.1% of total sales in 2022
- Over 1/3rd of all 5G smart antennae are being utilized in the IT & telecommunications industry
- By application, the smartphone segment is likely to account for a high percentage of 5G smart antenna adoption
Global 5G Smart Antenna Market- Key Drivers and Trends
- Increasing investments towards developing 5G smartphones and related products as well as a surge of wireless technologies and IoT are collectively driving demand for 5G smart antennae
- Increase in demand for high-speed data is fuelling the growth outlook of the 5G smart antenna market. 5G smart antennae play a key role in delivering the required data rates, network capacity, and performance necessary to meet the evolving needs of users.
- Autonomous vehicles rely on real-time data transmission and communication with other vehicles, infrastructure, and the cloud. 5G networks, combined with smart antennas, provide the necessary reliable and low-latency connectivity for seamless vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) communication, thus enabling safe and efficient autonomous operations.
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Regional Landscape of the 5G Smart Antenna Market
- Asia Pacific dominated the global landscape with a 40.1% share in 2022. Increase in rate of mobile internet penetration and the rise in the population accessing the internet through smartphones and mobile devices are fueling the 5G smart antenna market development in the region.
- North America held a 28.1% market share in 2022. As per the latest 5G smart antenna market forecast, the region is anticipated to lead the global landscape during the forecast period. Deployment of 5G smart antennas in North America is transforming the connectivity landscape, thus enabling faster speeds, improved capacity, and unlocking new business opportunities
Competitive Landscape
A significant number of service providers dominate the global 5G smart antenna landscape. Players are focusing on a host of expansion strategies: from introducing new services to collaborating with established service providers to enhance distribution capabilities. Some key 5G smart antenna service providers are as follows:
- Airspan Networks Inc.
- Ericsson AB
- HARMAN International
- Huawei Technologies Co. Ltd.
- Mitsubishi Electric Corporation
- National Instruments Corp
- NEC Corporation
- Nokia corporation
- Qualcomm Technologies, Inc.
- Samsung Electronics Co. Ltd.
- ZTE Corporation
Some key market developments with respect to 5G smart antenna are as follows:
- In January 2023, Airspan Networks Inc. announced plans to expand its 5G Innovation Lab initiative in Tokyo. The move was initiated to accommodate accelerating network adoption and scaling across the Asia-Pacific. The facility is expected to host several open RAN architectures, showcasing the modularization flexibility of Airspan’s portfolio, from fully-disaggregated software in a split 7.2 format to a software-embedded All-In-One RAN platform.
- In June 2023, Ericsson announced the development of its Ericsson Reduced Capability (RedCap) software addition to 5G standalone (5G SA) networks without the need for any new hardware. The software is expected to be commercially available by November 2023.
- In March 2023, McLaren Applied developed its revolutionary 5G intelligent edge antenna technology for various moving vehicle applications. The company’s Halo 300 5G intelligent edge antenna offers better performance and reduces cost and complexity.
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Key Segments Covered
Type
- Switch Beam
- Adaptive Array
Technology
- Single Input Single Output (SISO)
- Single Input Multiple Output (SIMO)
- Multiple Input Single Output (MISO)
- Multiple Input Multiple Output (MIMO)
Network Type
- Small Cells
- Macro Cells
RAN Architecture
- Distributed RAN (D-RAN)
- Cloud RAN (C-RAN)
- Virtualized RAN (vRAN)
- Open RAN (ORAN)
Application
- Satellite Communication
- Smart Wearables
- Advanced Driver Assistance System (ADAS)
- Base Stations
- Smartphones
- Smart Healthcare Devices
- Smart Factories
- Others (Virtual Reality [VR], Vehicle-to-infrastructure [V2I], etc.)
End Use Industry
- Automotive & Transportation
- Aerospace & Defense
- IT & Telecommunication
- Consumer Electronics
- Industrial
- Others (Healthcare, Infrastructure, etc.)
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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