The 5G technology has been acting as a boon for various applications, such as 5G smartphones, IoT & M2M devices, and connected vehicles. The key hardware requirement for these 5G applications is 5G supporting antenna systems. The advanced antenna systems (AAS) enable the concept of remote radio head (RRH) by integrating the antenna and meeting 5G challenges of enhanced capacities by using localized beams and space diversity via massive multiple-input multiple-output (mMIMO) technology. These mMIMO antennas are used in 5G base stations, connected vehicles, IoT devices, and smartphones.
The COVID-19 pandemic has negatively impacted various business segments of the supply chain in the first quarter of 2020. The supply chain disruption is primarily due to national lockdowns and import-export shipment delays across the world. Due to the COVID-19 situation, European countries and North American countries are witnessing cash flow issues and unclear revenue prospects, leading to cutbacks of technology deployment plans in the countries. China, being the epicenter of COVID-19 pandemic, has recovered from the pandemic so far and is looking forward to starting 5G deployment.
According to the market intelligence published by BIS Research, the Global 5G antenna market is expected to reach a market value of $7.00 billion by 2025. The market growth is driven by factors, including 5G roll-out in countries, poised to boost the demand for 5G antennas, rising adoption of 5G technology in connected vehicles, and lower latency, high-speed, and large network coverage driving the demand for 5G antennas.
The end-use industry of the 5G antennas has witnessed a dip in the initial quarters. The global 5G smartphone market is expected to encounter a slump due to the downfall in the global economies of leading countries of the various regions, such as Europe and North America. The end-use customers are unwilling to spend their disposable income, fearing the current recession in the market. Industry players expect to get back on wheels, covering up for the beginning quarters of 2020, latest by the end of 2021, fuelling the demand in the global ecosystem for 5G antennas.
Recently, Airspan Networks, a 5G technology company has merged with New Beginnings Acquisition Corp., a special purpose acquisition company (SPAC). The new venture will be renamed as Airspan Network Holdings, Inc., a publicly listed company, when the deal is finalized.
The 5G antenna market is highly competitive and organizations undertake several strategies to stay ahead in the race. Some strategies adopted by 5G antennas manufacturers are new product launches, business expansions, mergers, partnerships and collaborations. Among all these strategies adopted, new product launches have been leading the popular choice of the strategy implemented in the 5G ecosystem players' competitive landscape.