The "Automotive Smart Antenna - Global Market Outlook (2017-2026)" report has been added to ResearchAndMarkets.com's offering.
According to this report, the Global Automotive Smart Antenna market accounted for $1.75 billion in 2017 and is expected to reach $7.01 billion by 2026 growing at a CAGR of 16.7% from 2017 to 2026.
Some of the factors such as growing demand for safety features in vehicles and rising cellular applications for connected vehicles are fueling the market growth.
However, lack of information technology and communication infrastructure in developing countries is restraining the market growth. Automotive Smart Antenna market is providing new profits opportunities in autonomous vehicle ecosystem.
Amongst Electric Vehicle, Battery Electric Vehicle (BEV) segment accounted held significant market share during the forecast period due to the implementation of strict emissions norms by the governments of different countries. Also, some governments now are offering subsidies for the use of environment-friendly cars.
By geography, Asia Pacific is significantly driven by strong economic growth and growing population. As a result of the growing population China is introducing vehicle and road safety regulations. Increasing demand for safety features in vehicles is expected to trigger the market for automotive smart antennas in the region.