UWB Technology Market Size Expected to Grow to $2.7 Billion by 2025

UWB (Ultra-Wideband) technology is a short-range-wireless communication protocol for the transmission of data using a technique which spreads the radio signal energy over a wide frequency band, thus resulting in a very low power spectral density. The low power spectral density limits the interference potential with conventional radio systems, and the high bandwidth can allow very high data throughput for communications devices, or high precision for location and imaging devices.

According to a report by MarketsandMarkets, the global 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 (Real Time Locating Systems) applications and the increasing adoption of the Industrial Internet of Things (IIoT).

Indoor Positioning Systems to Continue to Hold Largest Market Share

UWB technology has shown better performance in indoor positioning. Indoor positioning systems (IPS) are capable of determining the real-time position of an object in a physical space. The indoor positioning system can be integrated with indoor navigation systems for blind and visually impaired people; they can also be combined with locating devices installed in buildings, aiding visitors to find an emergency exit in a smoky environment, tracking kids in crowded places, and tracking expensive equipment. Nowadays, consumer, healthcare, industrial, and retail verticals, among others, require communications, precision positioning, or radar systems for communication, video streaming, surveillance, and many other applications, thus giving rise to UWB technology-based indoor positioning systems.

RTLS (Real Time Locating Systems) is the Fastest-growing Application

UWB is adopted in RTLS (Real Time Locating Systems) systems, with a huge growth potential due to its accuracy in tracking assets. A UWB system can estimate positions based on received signal strength or time of arrival modes. Sustaining a good performance in walled environments is the major advantage of UWB-based RTLS solutions. UWB-RTLS solutions are ideal for industrial environments for indoor tracking ranging from asset tracking and material flow to employee location tracking for safety reasons.

UWB solutions also help reduce the overall operational cost on the production line by real-time tracking of products and raw materials, ensuring the proper supply of it and reducing the workforce in the area. UWB-based RTLS solutions are gaining popularity in the automotive, transportation, and manufacturing industries. Also, the penetration of UWB technology in indoor positioning systems that find applications in smart homes is likely to increase in the coming years.

Consumer Electronics Vertical to hold Largest Market Share

UWB is expected to significantly improve the consumer's experience related to home entertainment products, such as TVs, laptops, and audio equipment. UWB enables wireless connections at speeds of 110 Mbit/s and greater, making it perfect for connecting televisions to DVD players and recorders, personal video recorders (PVR), and home audio equipment. With a data-rate capability of 110 Mbit/sec. and a range of 10 meters, UWB can stream multiple high-definition videos wirelessly from a set-top box to a television monitor.

Other home entertainment products that too get benefitted from the UWB technology include game consoles, MP3 players, personal digital assistants (PDA), personal computers PCs, and so on. UWB meets the low power requirements of handheld electronics, including MP3 players and PDAs, and provides the low-cost solution necessary for wide consumer adoption. With the increasing need for more precise location services and secure access to systems, the demand for UWB technology for use in consumer electronics is on the rise.

APAC Expected to be Fastest-growing Market

UWB technology is widely used in robot localization technology in Japan and China. The technology is also witnessing growing demand for its implementation in indoor location tracking equipment in both residential and industrial applications in recent years. Moreover, the retail and automotive and transportation industries have contributed majorly to the growth of the UWB-based RTLS solution in the region. The APAC region includes a few of the fastest-growing economies of the world, including China. The rapid growth of the automotive sector in China, Japan, and South Korea, along with growing process industries in developing countries of this region, is expected to offer significant growth opportunities to the UWB market during the forecast period.

The research report categorizes the global UWB market segmented into positioning system, application, vertical, and geography. The report describes major drivers, restraints, challenges, and opportunities pertaining to the UWB market and forecasts the same till 2025.

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