Chip Antenna Market Overview
The Chip Antenna market size is forecast to reach $3.6 billion by 2027, growing at CAGR 12.32% from 2022 to 2027. Chip antennas aids in radiating the high frequency electromagnetic waves after its integration in circuit boards across various devices, especially the small electronic devices including smartphones, radio frequency integrated circuit readers, wearable devices and others. The growth of chip antenna market is mainly driven by increasing demand for consumer electronics and connected devices across various industries as it helps in setting up the small range wireless communication. Apart from that, the increasing adoption of automation and IoT across sectors fuels the growth of this market. Hence, the above-mentioned factors are fuelling the growth of Chip Antenna industry during the forecast period 2022-2027.
Chip Antenna Market Segment Analysis – By Type
By type, the Chip Antenna market is segmented into Dielectric Chip, LTCC Chip, and Ceramic Multilayer Chip Antennas. Ceramic Multilayer Chip Antennas segment is analysed to, grow with a CAGR of around 13.21%, during the forecast period 2022-2027. This type of chip antennas can perform perfectly under any environmental condition without getting affected, which is a major driving force behind the growth. Apart from that, these antennas offer more flexible tuning as well as variety of configurations in smaller as well as in lighter sizes, which makes it more suitable for miniature version of connected smart devices. Hence, the above-mentioned advantages create huge demand for this chip antennas and provides incentives to the market players to take strategic steps for expanding their business. For instance, in December 2019, u-blox introduced the BMD-380, an ultra-small, high-performance Bluetooth Low Energy 5.0 module for space-constrained applications. This product includes the ceramic antenna and features Bluetooth 5.0 specifications, with long-range protocol, which makes it more suitable for implementing communication in harsh radio environments. This new module is specifically designed for applications in industrial automation, health care, smart cities, smart buildings and homes, and high-end wearable. Such developments will accelerate the adoption rate of ceramic multilayer chip antennas, thereby driving the growth of this market during the forecast period 2022-2027.
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Chip Antenna Market Segment Analysis – By End User Industry
Based on end-user industry, Chip Antenna Market is segmented into Telecommunication, BFSI, Automotive, Logistics and Transportation, Consumer electronics, General Manufacturing, Government and public sector, Healthcare, and Others. According to Chip Antenna Market report of IndustryARC, Chip Antenna market size for consumer electronics is analysed to grow with a CAGR of 13.6% during 2022-2027. Increasing demand of more technologically advanced products among the people across the world coupled with rapid growth in purchasing power accelerates the adoption rate of chip antennas. Apart from that, increasing popularity of miniaturized version of consumer electronics creates a huge demand for compact chip antennas, as it is the most suitable technology for these products. According to a survey conducted by Pew Research Center on June 2019, approximately one-in-five U.S. adults (21%) regularly wear a smart watch or wearable fitness tracker for improving their health and usage of these products is going to witness exponential growth in the near future. This in turn, creates a positive impact on the demand of Chip Antenna technology for consumer electronics, thereby driving the growth of this market during 2022-2027.
Chip Antenna Market Segment Analysis – By Geography
APAC dominated the market with around 33% Chip Antenna market share in 2021, and is estimated to grow, with a CAGR of around 14.2% during the forecast period 2022-2027, due to the increasing demand for automation across industries and rapid growth in industrial sectors. According to some research report of UiPath, Indian organizations are very much satisfied with the benefits resulting from automation and expecting financial profitability, revenue growth, operational cost reduction and others from the penetration of automation. Furthermore, increasing demand for consumer electronics and smart devices such as wearable devices, smart-phones, headsets and various other devices; creates huge growth driving opportunity for the chip antenna market. Some recent report states that, there will be approximately 820 million smart-phone users in India 2022. Moreover, the usage of connected devices plays a major role in the growth of this market in this region. Hence, the above-mentioned factors are poised to create tremendous growth opportunities for APAC Chip Antenna System Market from 2022 to 2027.
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Chip Antenna Market Drivers
Rising demand for consumer electronics is driving the growth of this market
Growing demand for consumer electronics is one of the major driving factors behind the growth of Chip Antenna market, as this antenna are highly being used in the consumer electronics products for short-range wireless communication. A report from OBERLO states that, the number of smart phone users across the world is projected to be 3.5 billion in 2020, which is 9.3% more than 2019 and the total number of smart-phone users is estimated to grow over the years. Therefore, with such increasing demand for various consumer electronics such as headsets, smartphones, wearable and others, the demand for chip antenna is also witnessing an exponential growth, thereby driving the growth of this market.
Adoption of Automation across the world will fuel the growth
Increasing penetration of IoT across various sectors, is boosting the demand for automation as well as for connected devices, resulting in growing demand for chip antenna. Integration of automation in these sectors offers greater efficiency, higher reliability, enhanced security, production boost, living convenience, better process speed, cost effectiveness and other benefits, which accelerates the investment for the implementation of automation by the above-mentioned sectors. This in turn drives the growth of chip antenna market. According to European Telecommunications Network Operators’ Association (ETNO), in 2019, there were 16 million IoT connections in smart buildings in Europe alone and the number is estimated to reach 154 million by 2025. Similarly, in June 2019, UiPath published a report on present and future progress of automation and according to the survey report 90% organizations already using the automation technology to conduct the business processes. Hence, the adoption of automation will fuel the growth of chip antenna market during the forecast period 2022-2027.
Chip Antenna Market Challenges
Initial cost and other issues are harming the growth of this market
All though the Chip Antenna market is growing rapidly, but the initial cost of chip antenna is creating hurdles for the growth of this market. The initial cost of this technology is very high due to the high purchase price of the ceramic chip antenna as well as its requirement of supporting components to perform properly. A report of Cadence states that, the average cost of ceramic chip antenna is between $0.10 and approximately $1.60 each, which is generally higher that others, in terms of price. This challenge is poised to impede the Chip Antenna system markets growth during the forecast period 2022-2027. Apart from that, a level of RF expertise to implement the technology properly, which is not easily available. This in turn creates hurdles for the market growth. Hence, the above-mentioned factor will hamper the growth of this market during the forecast period 2022-2027.
Chip Antenna Market Landscape
Partnerships and acquisitions along with product launches are the key strategies adopted by the players in the Chip Antenna Market. As of 2021, the market for Chip Antenna industry outlook is consolidated with the top market players. Chip Antenna top 10 companies include:
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Relevant Report Titles:
A. Distributed Antenna System Market – Forecast (2022 – 2027)
B. Bluetooth Low Energy Market – Forecast (2022 – 2027)
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