The ultra-wideband market 2020 was estimated at USD 62 Million in 2016 and can expand to a size of USD 85 Million by 2022, mentions the new report by Market Research Future (MRFR). MRFR adds that the market can witness steady progression at a rate of 5% from 2016 to 2022 (review period).
Some of the top companies competing in the market for ultra-wideband are Alereon, Inc. (U.S.), Pulse LINK, Inc. (U.S.), BeSpoon SAS (France), Zebra Technologies Corporation (U.S.), DecaWave Ltd. (Ireland), Fractus Antennas S.L. (Spain), 5D Robotics Inc. (U.S.), Johanson Technology Inc. (U.S.), Nanotron Technologies GmbH (Germany), Taiyo Yuden Co Ltd. (Japan), to mention a few.
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Growth Boosters and Main Restraints
Ultra-Wideband technology, owing to a host of benefits it offers, enjoys massive demand across a range of industries including healthcare and defense. However, a prime application area of ultra wideband technology is in wireless sensor network solution or real-time location system (RTLS). The technology has emerged as an ideal replacement for radio frequency identification (RFID) or wireless fidelity (Wi-Fi), since it holds a high potential to track or locate the exact location of any object, which is otherwise quite tough to detect with the use of the above mentioned technologies.
Majorly, the increasing demand in the retail and healthcare sectors has led to the superlative growth of the ultra-wideband (uwb) market. Also, the technology’s ability to track objects with accuracy has boosted its market growth prospects for the future. Indoor location tracking is one of its top application areas and can help the market gain significantly in the approaching years.
Although, the demand for UWB in retail, household activities and healthcare can note further growth in the years ahead, the technology’s high pricing can curb its demand to some extent. However, MRFR experts shed light on the increasing investments by leading industry participants in research and development activities, aimed at the manufacturing of highly advanced products that can pique the interest of end-users as well as customers in the ultra-wideband (uwb) market.
Ultra-wideband market’s main segments listed in the report are application, technology, components and industry.
The applications listed in the report are location based services, wireless peripheral interface and internet access and multimedia service.
The types of technologies analyzed by the analysts are short range as well as long range.
The components-wise market segmentation includes ICs, motherboard and sensors.
The primary industries that make extensive use of the UWB technology include healthcare, IT & telecom, utilities, manufacturing, government, retail, and others. The UWB technology’s acceptance rate in the healthcare industry is quite high, as it helps track and also monitor personnel, patients and assets, in addition to maintaining a clean environment.
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North America, Europe, Asia Pacific (APAC), and the rest of the world (RoW) are the primary regions where the ultra-wideband market size can expand at varying rates between 2016 and 2022.
Thanks to the high concentration of highly regarded UWB vendors in the U.S as well as Canada coupled with the substantial practice of UWB-based WSN/ RTLS technologies in the healthcare and retail sectors, North America has managed to clinch the leading position in the global market. Moreover, the significant growth of the Internet of things or IoT and the highly frequent technological advancements with respect to range and precision of the technology has added to the regional market strength in recent years.
Emerging nations like India, South Korea and China are turning out to be highly profitable markets for ultra-wideband, which enhances APAC’s potential to achieve the fastest growth rate in the following years. The region’s steady industrial growth, particularly manufacturing and retail drives the market growth in the region. China is touted as the world’s second biggest economy and has been a significant game changer in international markets. Therefore, it is safe to assume that the country can advance at a tremendous rate in the next few years. Rising adoption of the technology for workflow optimization in various industries and the intensifying competitiveness among leading companies also benefits the regional market.
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