Automotive and Transportation Industry to Drive Ultra Wideband (UWB) Market Growth to $2.7 Billion by 2025
The Ultra-Wideband (UWB) Market is anticipated to increase from USD 1.1 billion in 2020 to USD 2.7 billion by 2025, expanding at a CAGR of 19.6%. Real-time location systems (RTLS) applications' growing need for UWB technology and the Industrial Internet of Things' rising usage are driving the market (IIoT). The UWB market is expanding as a result of the expanding use of UWB technology in mobile devices and developments in new markets such wireless sensor networks. These elements are giving UWB technology a wider application range, which will improve market adoption and growth potential.
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. These players have adopted various growth strategies such as contracts, joint ventures, partnerships & agreements, acquisitions, and new product launches to expand their presence in the Ultra-Wideband Market.
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Opportunity: Growing deployment of UWB technology in mobile devices
Wideband (UWB) technology is being used in more and more consumer goods, including smartphones and mobile gadgets. Apple recently added UWB-based smartphones to its most recent iPhone models to allow device connection, track real-world objects, and display location using augmented reality. This action by Apple is anticipated to accelerate the uptake of UWB technology in Android phones. In order to encourage the adoption of UWB technology, business leaders from the ASSA ABLOY Group, HID, NXP, Samsung, Bosch, Sony, LitePoint, and TTA founded the FiRa Consortium. With ongoing improvements and innovations, UWB technology is anticipated to be used in additional electronic gadgets.
Depending on the positioning system, the market for outdoor positioning systems is anticipated to expand at a faster CAGR throughout the forecast period. The usage of UWB chips has been constrained to a small number of outdoor positioning applications due to their expensive nature and limited wireless communication range. UWB technology is nevertheless being incorporated into portable devices due to its low power consumption for a variety of outdoor communications applications, medical imaging, asset tracking, surveillance, vehicle radar, and intelligent transportation. Together with GPS, UWB technology is utilised in outdoor positioning systems, broadening its range of applications.
In the UWB market in 2019, the communication application had the biggest market share. This is because wireless wideband communication systems are becoming more and more in demand, especially for new applications like mobile ad hoc networking and wireless sensor networks, which collect data wirelessly. In this application, UWB wireless technology has various benefits, including excellent localization accuracy and narrow pulses that improve data transmission efficiency. Increasingly more people are using UWB communication systems because of their fast data rates and low power consumption, which reduces interference. Ad hoc sensor networks also employ UWB technology as a communication channel. The use of UWB technology in smartphones has suddenly increased due to better connectivity and mobile tracking services, which is fueling the development of UWB technology in communication applications.
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In the Ultra-Wideband (UWB) market, the automotive and transportation sector is anticipated to develop at the fastest rate. The human-machine interface in cars is made simpler by UWB technology, which also offers cutting-edge comfort applications like smart card access, driver verification, and customised user settings. Moreover, UWB technology is employed in buses, train control systems, and vehicles used for public transportation. High-precision location data is provided by UWB location tracking technology, which can be applied to a variety of tasks including fleet management, vehicle-to-vehicle communication, and autonomous driving. Throughout the anticipated period, the market expansion is anticipated to be aided by the growing acceptance of UWB technology in the automotive and transportation sectors.
2019 will see the greatest share of the ultra-wideband (UWB) market in North America thanks to the growing popularity of smart homes and the spread of home automation technology. In the North American UWB market, real-time location system (RTLS) is anticipated to have the quickest rate of growth. The considerable compound annual growth rate (CAGR) of RTLS and imaging applications in the North American UWB market is primarily due to the recent development of UWB technology-based precision positioning systems and their implementation in healthcare RTLS and medical imaging applications. The dropping average selling prices of UWB chips and developments in positioning precision of impulse radio-based UWB technology are projected to drive the UWB market in North America during the forecast period.
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