An antenna is a must in order to catch radio frequency. Among all types of antenna, chip antennas are useful in order to not only assist in monitoring but also to track assets in healthcare and to transfer a large amount of data over a short distance. Monitoring, tracking and transfer via chip antenna can be done with some help of cellular connections. Chip antennas are also helpful in maintaining connectivity between devices and providing accurate real-time location information.
Market Research Future (MRFR) has published a research report about the global chip antenna market that foretells a massive raise for this market at a 12.30% CAGR (Compound Annual Growth Rate) between 2023 and 2032. In terms of value, this market is expected to be worth US 8.237886504 Billion by the end of the forecast period.
The major factors that contribute to the growth of global chip antenna market include the high demand for consumer electronics and increasing adoption of technologies such as automation, connected cars, Internet of Things (IoT), and smart grid. However, some constraints that can hinder the market growth are the complex design of chip antennas and compatibility issues during the chip antenna’s integration on the circuit board.
The global chip antenna market has been segmented on the basis of applications, end-users, type, and lastly, region. Based on the application, this market has been segmented into Bluetooth, industrial, scientific and medical (ISM) band, wireless local area network (WLAN), ZigBee, and others. The segmentation in the context of end users segments the market into banking, financial services and insurance (BFSI), government, healthcare, industrial, information technology (IT) & telecommunication, manufacturing, transportation, and others. By type, the market has been segmented into ceramic multilayer chip and dielectric chip.
The regional segmentation of the global chip antenna market segments the market into North America, Europe, Asia-Pacific, and rest of the world (RoW). According to the report, Asia-Pacific has been anticipated to hold the largest market share during the forecast period due to the expanding consumer electronics industry and increasing adoption of automation. The dominant country-specific markets in this region are China, India, and Japan, followed by the remaining countries of the Asia Pacific region.
During the forecast period, North America is also expected to witness significant growth due to the early adoption of advanced technologies, strong economies like the USA and Canada. Both of these countries are spending a huge amount of money on research and development (R&D) of wireless transmission technologies, which is expected to fuel market growth. Mexico is another important market in this region.
Europe is a primary regional market due to the region’s high density of population and the technological advancement that is second only to North America. In this region, the major country-specific markets are France, Germany, and the UK, followed by the remaining countries of Europe. SatixFy has released Prime and Beat Evaluation Boards (EVBs) and a Micro Antenna Test Range (AMTR). The purpose of these new chips is to create a new generation of flat electronically steered antennas, with multiple beams and no moving parts.
The RoW segment covers Latin American countries and the Middle East & Africa (MEA). The MEA region shows a limited market with slow and steady growth. The reasons for the slow market growth in this region are lack of awareness, lack of education, lack of technological development, and political instability. Among Latin American countries, the strong economies that can be ideal markets are Argentina and Brazil.
The key players in the global chip antenna market include Antenova M2M (UK), Fractus Antennas (Spain), Johanson Technology Inc. (USA), Mitsubishi Materials (Japan), Pulse Electronics (USA), Partron Co. Ltd. (South Korea), Taoglas (Ireland), Vishay Intertechnology Inc. (USA), and Yageo Corporation (Taiwan).