The Ultra-wideband (UWB) Market is estimated to grow from USD 1.1 billion in 2020 to USD 2.7 billion by 2025, at a CAGR of 19.6%. Major factors driving the growth of the UWB market include the growing demand for UWB technology in RTLS applications and the increasing adoption of the Industrial Internet of Things (IIoT). Ongoing advancements in new application areas of UWB technology in the wireless sensor network and growing deployment of this technology in mobile devices have increased the scope of UWB technology.

Key Players:

Some of the Major players in the Ultra-Wideband Market are DecaWave Ltd. (acquired by Qorvo (US)), Apple Inc. (US), Pulse Link, Inc. (US), NXP Semiconductors N.V. (Netherlands), Texas Instruments (US), Samsung Electronics Co., Ltd. (South Korea), among others.

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Driver: Proliferation of UWB technology in RTLS application

Ultra-wideband (UWB) technology's widespread use in real-time location systems (RTLS) is a key factor in the UWB market's expansion. UWB-powered RTLS systems operate in a broad spectrum with high bandwidth, offering excellent precision in asset tracking. Because of their high bandwidth and low frequency, UWB signals can operate in a time-of-arrival mode and can pass through solid objects like walls. UWB signals also offer a high level of security and dependability. Ubisense Group Plc. (UK) provides UWB-based RTLS solutions for sectors like automotive, aerospace, transportation, and defence production. UWB technology is becoming more and more common in the industry as a result of its accuracy and dependability, which make it a potential alternative for RTLS applications.

Because ultra-wideband (UWB) technology is being adopted by more and more people over the projected period, the outdoor positioning system segment is anticipated to develop at a higher CAGR. Although the limited wireless communication range and high cost of UWB chips prevent UWB technology from being widely used for outdoor locating applications, its low power consumption makes it perfect for portable devices used for many outdoor communication applications. For applications including radar imaging, medical imaging, asset tracking, surveillance, vehicular radar, and intelligent transportation, UWB is also utilised in outdoor positioning systems in conjunction with GPS. As a result, the outdoor positioning systems market is anticipated to expand significantly over the next few years.

The highest market share in 2019 belonged to the communication application category as a result of the rising demand for wireless wideband communication systems. UWB technology is perfect for new applications like mobile ad hoc networking and data collection through wireless sensor networks because it offers considerable advantages in communication applications due to its narrow pulses and high localization precision. A lot of attention has been paid to UWB communication systems because of their fast data rates, low power requirements, and interference-cancelling capabilities. Moreover, ad hoc sensor networks are increasingly using UWB technology as a communication channel. Moreover, UWB technology is currently being incorporated into smartphones for mobile tracking services and improved connectivity, which has resulted in a dramatic increase in UWB communication applications. In the upcoming years, it is anticipated that this tendency will fuel the UWB market's expansion.

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The adoption of ultra-wideband (UWB) location tracking technology is predicted to drive the fastest growth in the automotive and transportation markets. The human-machine interface in automobiles is becoming simpler and better thanks to UWB technology. This has led to novel comfort applications like smart card access, driver verification, and customised user settings like seat positioning or climate control. While it is utilised in train control systems to enable wireless communication between the train and small equipment deployed on the wayside, UWB technology is also very promising for public transportation vehicles. UWB technology is also utilised to manage bus operations. These elements are anticipated to fuel the UWB market's expansion in the transportation and automotive sectors.

In 2019, the UWB market in North America was the largest, because to the expanding use of UWB technology across numerous applications. The North American UWB market is predicted to experience the fastest growth in the real-time location system (RTLS) application due to the region's developing smart home trend and the increased adoption of home automation technology. The primary drivers of the significant CAGR of RTLS and imaging applications in the North American UWB market during the forecast period are also anticipated to be the recent development of UWB technology-based precision positioning systems and their use in healthcare RTLS and medical imaging applications. Furthermore, during the forecast period, the UWB market in North America is anticipated to be driven by recent improvements in positioning accuracy of impulse radio-based UWB technology and declining average selling prices of UWB chips.

News Covered:

https://www.prnewswire.com/news-releases/ultra-wideband-market-worth-2-7-billion-by-2025--exclusive-report-by-marketsandmarkets-301052861.html

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