Kenneth Research examined the statistical and analytical approach that is required for the growth of Smart Antenna Market between the years 2022 and 2031. The key industrial insights provided in the report gives a better idea about the market overview to the readers regarding the existing scenario in the market. In addition, the report includes detailed discussion on current and future market trends that are associated with the growth of the market.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Smart Antenna Market products.
The growth of the Smart Antenna Market can be attributed to the rising consumption of consumer electronics devices across the globe. It is expected that the total number of users of consumer electronics would reach a value of approximately 3 billion by 2025. The user penetration is also expected to grow to about 35% by the same year. Additionally, the emergence of advanced technologies such as artificial intelligence (AI), internet of things (IoT) and machine learning (ML) is predicted to offer a myriad of lucrative opportunities to the market players. This can be credited to the increase in the number of connected devices, which is further expected to raise the demand for semiconductor chips worldwide. In 2018, there were more than 20 billion IoT connected devices in the world, which are estimated to increase up to about 35 billion and 48 billion by the end of the years 2025 and 2030 respectively.
The Smart Antenna Market is anticipated to reach around USD 9,705 million by 2026 according to a new research published by Polaris Market Research. In 2017, MIMO segment dominated the global market, in terms of revenue. North America is expected to be the leading contributor to the global smart antenna market revenue during the forecast period.
The growing demand for smart antenna in wireless communication networks coupled with rising need for efficient and stable network performance has boosted the adoption of smart antenna. The rising penetration of smartphones, and increasing adoption of mobile-connected devices further support the growth of this market. The growing demand for high speed communication services, high demand for wireless broadband services, and declining costs of connected devices would accelerate the adoption of smart antenna during the forecast period.
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However, high costs associated with smart antenna is expected to restrict the growth of the market to a certain extent. Growing demand from emerging economies, increasing adoption of IoT and advancements in cellular networks are expected to provide numerous growth opportunities in the coming years.
North America generated the highest revenue in the market in 2017, and is expected to lead the global smart antenna market throughout the forecast period. The presence of established telecom and cloud infrastructure in this region, and growing trend of IoT drive the smart antenna market growth in the region. The growing demand of mobile devices, and technological advancements further support market growth in the region. The use of smart technologies in varied sectors and growing need for high speed communication services for increased efficiency in diverse industries is expected to support smart antenna market growth in this region during the forecast period.
The key players operating in the smart antenna market include Texas Instruments Incorporated, Qualcomm Technologies, Inc., Broadcom Limited, Airgain, Inc., Motorola Solutions, Inc, Ruckus Wireless, Airgo Netwroks Inc., Interdigital communications Corp., Lucent technologies, and Sierra Wireless. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
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