Market Size of Chip Antenna Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 11.91 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Chip Antenna Market Analysis
The Chip Antenna Market is anticipated to register a CAGR of 11.91% during the forecast period. The market's growth can be attributed to the increasing miniaturization of consumer electronics and the increasing application of Chip Antennas in IoT-driven systems.
- The market is expected to be further augmented by the exponential growth of mobile data traffic, driven by data-capable devices and high-bandwidth applications (APPs). According to Ericsson, the total number of 5G subscriptions stood at approximately 664.18 million in 2021 and is anticipated to reach 4.39 billion by 2027.
- Moreover, according to a survey by Honeywell, 67% of manufacturing executives are going forward with their plans to invest in data analytics. 63% believe that it enables well-informed decisions in real-time, 57% believe that it limits waste, and 56% say it helps predict the risk of downtime (56%). This is expected to further aid the future growth of Internet of Things (IoT) in the manufacturing sector.
- Rapid developments are being witnessed in the market to support 5G communication chip solutions. For instance, recently, Samsung Electronics introduced its latest 8nm RF solution development which will provide up to a 35% increase in power efficiency and a 35% decrease in a logic area compared to 14nm RF.
- Due to the market's rapid growth, a number of vendors are receiving funding from national and international players for product development and innovation. For instance, in May 2022, Pharrowtech announced a series A funding of EUR 15 million to continue developing next-generation 60 GHz wireless RF transceivers and antenna technology.
- The COVID-19 pandemic outbreak affected the market in multiple ways. The chip production foundries are gradually recovering from the impact of the pandemic in major manufacturing centers like China. Moreover, the rapid deployment of 5G is expected to aid the market growth of the market studied. Further, 5G's emergence as an independent network and the rapid expansion of 5G smartphones from flagship-only models to the mid-range segment is expected to aid market growth.
