Market Trends of Chip Antenna Industry
Increasing use of Chip Antennas in IoT Applications
- The growing deployment of IoT across end-user segments is expected to act as a significant driver of the market. IoT in manufacturing is being deployed to facilitate the production flow in a plant, as IoT devices automatically monitor development cycles and manage warehouses and inventories. It is one reason investment in IoT devices has skyrocketed over the past few decades. By 2025, the number of connected devices in the automation sector is expected to increase by 50.
- The increasing need for data analysis and analytics integration is expected to propel the utilization of the Internet of Things market in retail. Additionally, owing to the ease of shopping and smartphone penetration, the use of e-commerce platforms is rapidly increasing, which is likely to boost the market.
- For instance, Amazon's first store in Seattle, the United States, is incorporated with a self-checkout service and mobile payment methods available on Android and iOS systems. The store is equipped with cameras, sensors, and RFID readers, to identify shoppers and products and use computer vision, deep learning algorithms, and the sensor fusion.
- According to a report from IoT for All, the market for the IoT is anticapted to grow 18% to 14.4 billion active connections, whereas it is expected to reach approximately 27 billion connected IoT devices by 2025.
- The proliferation of 5G is also expected to aid the growth of IoT across significant application areas. According to Small Cell Forum, the total installed base of 5G in 2025 is predicted to be 13.1 million, over one-third of the total in use. Further, as per Cisco Systems, the number of connected wearable devices is anticipated to reach more than one billion by 2022.
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Asia-Pacific is Expected to be the Fastest Growing Market during the Forecast Period
- The Asia-Pacific region accounts for a significant expenditure in IoT technology, with South Korea and Singapore expected to be among the top global markets to adopt IoT chips. As per the data from the Organization for Economic Co-operation and Development, South Korea is the first country in the world to have more things connected to the Internet per habitat, followed by Denmark and Switzerland.
- Further, India's vision to transform 100 cities into smart cities is expected to create a huge demand for IoT devices in smart homes and the automotive sector. This is also an essential factor contributing to the market growth in this region.
- The Japanese government has announced the Integrated Innovative Strategy 2022, which lays out the plan to achieve the country's goals. In the 6th Science, Technology and Innovation Basic Plan, Japan set the goal of reaching 120 trillion yen in R&D investment between the public and private sectors over the five years from fiscal 2021, aiming to realize Society 5.0.
- According to a Microsoft IoT Signals report, the Asia-Pacific region has been a prominent manufacturing base, and the sector continues to be a strong adopter of the Internet of Things (IoT). The COVID-19 pandemic has driven even more significant investment across different industries as IoT becomes more tightly integrated with other technologies.
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