Growth Drivers
Increasing Use of GPS Systems - is responsible for the rising demand for LNAs as they are used in communications receivers such as GPS receivers, satellite communications, WPANs, and others. The increasing use of GPS systems is expected to boost the market for LNAs in the forecasted period. For instance, it was found that approximately 78 million cars have a GPS system, and about 98% of cars will have one in the next few years.
Growing Global Space Business - led by the commercial satellite industry, which accounted for 72% of the space business, with a total revenue of more than USD 275 billion in 2021.
Rising Trend of Wireless Networks - according to estimates, globally more than 22 billion devices were connected via WLAN in 2021.
Growing Automotive Industry - as per estimates, the projected unit sales volumes of all automotive (including cars) are expected to be 78 million units in 2022.
Upsurge in the Spending on Emerging Technologies – global consumer spending on traditional and emerging technologies is estimated to reach USD 500 billion in 2022.
Challenges
Base Year |
2022 |
Forecast Year |
2023-2033 |
CAGR |
~15% |
Base Year Market Size (2022) |
~ USD 2 Billion |
Forecast Year Market Size (2033) |
~ USD 7 Billion |
Regional Scope |
|
Base Year |
2024 |
Forecast Year |
2025-2037 |
CAGR |
15.3% |
Base Year Market Size (2024) |
USD 2.66 billion |
Forecast Year Market Size (2037) |
USD 16.93 billion |
Regional Scope |
|
Author Credits: Abhishek Verma
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