Ultra-wideband technology market is estimated to garner revenue of ~USD 5000 million by the end of 2033 by growing at a CAGR of ~20% By 2033

NEW YORK, NEW YORK, UNITED STATE, January 4, 2023 /EINPresswire.com/ -- Global Ultra-Wideband Technology Market Key Insights

During the forecast period of 2023-2033, the global ultra-wideband technology market is expected to reach an estimated value of ~USD 5000 million by 2033, by expanding at a CAGR of ~20%. The market further generated a revenue of ~USD 1100 million in the year 2022. Major key factors propelling the growth of ultra-wideband technology market worldwide are the increasing requirement for ultra-wideband in medical sector and rising popularity of IoT all across the world,

Market Definition of Ultra-Wideband Technology

Ultra-wideband is a technology required for the communication that has broad bandwidth, which is commonly described as more than 20% of the centre frequency or 500 MHz. Although it can be sent over wires, UWB is mostly employed in close-range wireless applications. Ultra-wideband has two different types of applications, including applications involving radar, in which the signal penetrates nearby surface but reflects surfaces that are farther away, allowing objects to be detected behind walls or other coverings and voice and data transmission using digital pulses, which enables a very low powered and relatively low cost signal to carry information at very high rates within a constrained range.

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Global Ultra-Wideband Technology Market: Growth Drivers

The growth of the global ultra-wideband technology market can majorly be attributed to the launch of several advanced technologies for the upgradation of ultra-wideband. For instance, to introduce its new UB-Tag with simultaneous ultra-wideband and BLE tracking capabilities, Ubisense Limited. The UB-Tag is strong, portable, and suitable for industrial use. The gadget is capable of simultaneously transmitting BLE and an ultra-wideband signal. Moreover, Texas Instruments Incorporated to introduce a new range of Bluetooth LE wireless MCUs to increase the scope of its connectivity offerings. The technology is intended to provide superior Bluetooth Low Energy at a lower cost than competing devices. On the other hand, the market growth can also be attributed to higher spending on electronics by consumers is also projected to drive the market growth. In 2022, it was predicted that consumer electronics expenditure would be around USD 500 billion as well as total device shipments would be around 2 billion units.

The global ultra-wideband technology market is also estimated to grow majorly on account of the following:

Rising need of healthcare sector for ultra wideband
Growing adoption of IoT all across the world
Higher expenditure on electric items
New product launches by key market players
Higher use of ultra-wideband in retail sector
Global Ultra-Wideband Technology Market: Restraining Factor

There is shortage of technology and labour required for functioning of the system, the business requires high investment and the maintenance of the system is very expensive. Hence this factor is expected to be the major hindrance for the growth of the global ultra-wideband technology market during the forecast period.

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Global Ultra-Wideband Technology Market Segmentation

By Positioning System (Indoor, and Outdoor)
By Application (Communication, Imaging, RTLS, and Others)
Out of all, the RTLS segment is expected to garner the highest market revenue by the end of 2033. The segment is to grow on the account of incorporation of real time location service in various industry across the world. Around 58% of various verticals, including public spaces, smart offices, hospitality, healthcare, manufacturing, and others, are expected to use Bluetooth real-time location services in 2022.

By End User (Consumer Electronics, Healthcare, Retail, Manufacturing, and Others)
By Region
The Asia Pacific ultra-wideband technology market is anticipated to hold the largest market share by the end of 2033 among the market in all the other regions. Owing to advancement of healthcare sector and higher expenditure on healthcare, the market growth in the Asia Pacific is projected to boost. According to the World Bank, per capita health spending in China and India in 2019 was USD 535.19 and USD 63.75, respectively. Furthermore, market growth of the region is also attributed higher production and consumption of electronic items in the region. In 2023, the consumer electronics industry in China is anticipated to rise in volume by approximately 3%. Moreover, by 2027, it is anticipated that the volume in the consumer electronics industry would reach around 2,000 million units.

The market research report on global ultra-wideband technology also includes the market size, market revenue, Y-o-Y growth, and key player analysis applicable for the market in North America (U.S., and Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), and Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).

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Key Market Players Featured in the Global Ultra-Wideband Technology Market

Some of the key players of the global ultra-wideband technology market are Texas Instruments Incorporated, Johanson Technology Inc., Alereon, Inc., NXP Semiconductors N.V., Starix Technology, Inc., Ubisense Limited, Humatics Corporation, Zebra Technology Corporation, Apple Inc., 5D Robotics, Inc. and others.

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