PUNE, India --- According to a new market research report "Chip Antenna Market by Product Type (Dielectric Chip and LTCC Chip), Application Type (WLAN/WiFi, Bluetooth/BLE, Dual Band/Multi-Band, and GPS/GNSS), End-User Industry (Automotive, Healthcare, and Industrial & Retail) - Global Forecast to 2022", published by MarketsandMarkets, the market was valued at USD 1.28 Billion in 2015 and is expected to be worth USD 2.99 Billion by 2022, growing at a CAGR of 13.1% between 2016 and 2022.
The key factor driving the global chip antenna market is the rising demand for consumer electronic devices such as smartphones, wearables, and gaming consoles that use chip antennas for wireless communication. Market growth is also driven by the demand for these antennas in the industrial sector, which has been triggered by the increasing use of wireless technology for machine-to-machine communication in manufacturing industries.
The smart grid/smart home segment is expected to grow at the highest CAGR between 2016 and 2022
The smart home/smart grid segment of the Chip Antenna Market is expected to grow at the highest CAGR between 2016 and 2022. Chip antennas are used in automated devices in smart homes, which are connected to wireless communication structures such as Bluetooth and WLAN. The growing demand for smart home automated devices across the globe is expected to boost the chip antenna market.
The market for the LTCC chip antennas would grow at the highest CAGR between 2016 and 2022
The market for LTCC-based chip antenna systems is expected to witness the highest growth, owing to the benefits offered by LTCC chip antennas, such as very small dimension and low cost compared to dielectric chip antennas. The growing demand for wireless applications such as Bluetooth, dual band/multi-band, GPS, and WLAN in different end-user industries will likely drive the demand for LTCC chip antennas during the forecast period.
APAC currently leads the chip antenna market in terms of market size
APAC held the largest share of the chip antenna market in 2015. This can be attributed to the growing demand for consumer electronic devices such as smartphones, tablets, and wearables in the region. China is the largest automotive manufacturer in the world; the prospective use of chip antennas for wireless communication in automotive telematics applications such as navigation, vehicle tracking, and others is contributing in the growth of the chip antenna market in the APAC region.
The companies that are profiled in the report are Johanson Technology, Inc. (U.S.), Mitsubishi Materials (Japan),Yageo Corporation (Taiwan), Vishay Intertechnology, Inc. (U.S.)., Fractus S.A. (Spain), Antenova M2M (U.K.), Taoglas (Ireland), Linx Technologies (U.S.), Fractus Antenna S.L. (Spain), Pulse Electronics (U.S.), Inpaq Technology Co., Ltd. (Taiwan), and Partron Co., Ltd. (South Korea).
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