worldwide smart antenna market is anticipated to reach approximately USD 9,705 million by the year 2026, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2017-2026.
As per the report, in the year 2017, the Multiple Input Multiple Output technology segment dominated the worldwide market with respect to revenue. In terms of regional contribution, North America is projected to lead the global market in terms of revenue, over the predicted timeline.
The report cites that the burgeoning demand for smart antenna across wireless communication networks in consort with escalating need for stable and efficient network has augmented product adoption across the globe. The growing penetration of smartphone devices, and surging acceptance of mobile-linked devices further advances industry growth. The rising requirement of high speed communication solutions, enhanced demand for wireless broadband, and decreasing cost of connected gadgets would expedite the implementation of smart antenna over the estimated duration. However, high prices linked with smart antenna are anticipated to deter market growth to some extent. Budding demand from developing nations, surging implementation of IoT, and progressions in cellular networks are likely to offer plenty of growth opportunities in the foreseeable future, cites the report.
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Speaking of the regional hierarchy, North America amassed the highest market revenue in the year 2017 and is projected to dominate the global smart antenna market over the estimated period. The existence of renowned telecommunication behemoths and cloud infrastructure in the region, along with the surging trend of IoT trigger industry growth in the region. Technological advancements and the burgeoning demand for mobile devices further contribute towards market growth in the North America market. The utilization of smart technologies in assorted domains and surging need for fast communication services for greater efficiency in varied industries is projected to support regional smart antenna market growth over the predicted time slab, as per the study.
The competitive landscape of smart antenna market comprises organizations such as Sierra Wireless, Lucent technologies, Interdigital communications Corp., Airgo Netwroks Inc., Ruckus Wireless, Motorola Solutions, Broadcom Limited, Airgain, Inc., Qualcomm Technologies, Inc., and Texas Instruments Incorporated. The report cites mergers and acquisitions, research & development initiatives toward the development of innovative products, and business expansion strategies to majorly characterize the competitive backdrop. A succinct overview of the product benchmarking, financials, and recent developments by these market players have also been profiled in this study.
The research report also provides significant insights about smart antenna market drivers, challenges, and opportunities over the estimated duration. A deep dive analysis of the industry in terms of type, technology spectrum, regional landscape, application outlook, and competitive profiling has also been detailed in the report.